Homework Answers
| 23) Income for Sept was = Cl RE 25 - Op RE 15 + DIV 3 = 13 |
| 24) Expenses incurred during Sept = 35 - Income 13 = 22 |
| 25)Cash received from customers during sept = Op AR 15 + Rev 35 - Cl AR 10 - Op UnRe 10 + Cl UnRe 5 = 35 |
| 26) Cash paid for expenses during sept = exp incurred 22 + Op AP 5 - Cl AP 10 - Op Prep exp 5 + Cl. Prep exp 15 = 27 |
| 27) Total Cash received during Sept from all sources = From cust 35 + From share issue 5 = 40 |
| 28) Total cash paid during Sept for all purposes = for exp. 27 + other assets 5+Div 3 = 35 |
Add Answer to:
-644 IULIUL CUNILIILU JITU ANSWER THE QUESTIONS WHICH FOLLOW USING THE DATA BELOW (make any necessary...
Below are Balance Sheets for a company at the beginning and end of October. Beginning-------- End...
Below are Balance Sheets for a company at the beginning and end of October. Beginning-------- End Cash $15---------- $10 Receivables from clients $5 -------$7 Prepaid Expenses $4 ----------$3 Other Assets $20------- $25 Total $44------- $45 Payables for Expense $8-------- $10 Unearned revenues $4-------- $6 Common Stocki $15--------- $20 Retained Earnings $17------ $9 Total $44------ $45 During the month, expenses incurred were $15 and a dividend of $2 was paid. a. Revenues earned during October were 9. How did you get...
Below are Balance Sheets for a company at the beginning and end of October. Beginning-------- End...
Below are Balance Sheets for a company at the beginning and end of October. Beginning-------- End Cash $15---------- $10 Receivables from clients $5 -------$7 Prepaid Expenses $4 ----------$3 Other Assets $20------- $25 Total $44------- $45 Payables for Expense $8-------- $10 Unearned revenues $4-------- $6 Common Stocki $15--------- $20 Retained Earnings $17------ $9 Total $44------ $45 During the month, expenses incurred were $15 and a dividend of $2 was paid. b. Revenues earned during October were 9. How did you get...
mework Saved Help Save & Ext Chec Required information (The following information applies to the questions...
mework Saved Help Save & Ext Chec Required information (The following information applies to the questions displayed below.) Lakewood Tennis Club (LTC) operates an indoor tennis facility. The company charges a $150 annual membership fee plus a member rental rate of $20 per court per hour. LTC's fiscal year-end is August 31, LTC's revenue recognition policy is described in its financial statement notes as follows: Revenue Recognition—LTC generates revenue from two sources. Annual membership fees arise from providing 12 months...
Flint Equipment Repair Income Statement For the Month Ended November 30, 2022 Revenues Service Revenue $...
Flint Equipment Repair Income Statement For the Month Ended November 30, 2022 Revenues Service Revenue $ 6018 Expenses $ $ During November, the following summary transactions were completed. Nov. 8 Paid $1.432 for salaries due employees, of which $708 is for November and $724 is for October salaries payable. 10 Received $2,124 cash from customers in payment of account. 12 Received $4,366 cash for services performed in November 15 Purchased store equipment on account $4,248. Purchased supplies on account $1,534....
Painter Corporation was organized by five individuals on January 1 of the current year. At the...
Painter Corporation was organized by five individuals on January 1 of the current year. At the end of January of the current year, the following monthly financial data are available: Total revenues Total expenses (excluding income taxes) Income tax expense (all unpaid as of January 31) Cash balance, January 31 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) Payables to suppliers for merchandise purchased from them (will be paid during February current year) Common stock...
ps:/ Saved The following information applies to the questions displayed below] Lakewood Tennis Club (LTC) operates...
ps:/ Saved The following information applies to the questions displayed below] Lakewood Tennis Club (LTC) operates an indoor tennis facility. The company charges a $165 annual membership fee plus a member rental rate of $15 per court per hour. LTC's fiscal year-end is August 31. LTC's revenue recognition policy is described in its financial statement notes as follows: Revenue Recognition-LTC generates revenue from two sources. Annual membership fees arise from providing 12 months of services to members, so they are...
Complete this question by entering your answers in the tabs Income Balance sheet Statement Complete the...
Complete this question by entering your answers in the tabs Income Balance sheet Statement Complete the following statements: PAINTER CORPORATION Income Statement Total revenues Less: Total expenses (excluding income tax) Pretax income Less: Income tax expense Net income Total revenues $305,000 189,000 35,000 Total expenses (excluding income taxes) Income tax expense (all unpaid as of January 31) Cash balance, January 31 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) Payables to suppliers for merchandise purchased...
3 8 01:20:37 Required information [The following information applies to the questions displayed below.) The following...
3 8 01:20:37 Required information [The following information applies to the questions displayed below.) The following transactions occurred during July 1. Received $1,700 cash for services performed during July 2. Received $8,150 cash from the issuance of common stock to owners. 3. Received $850 from a customer as payment for services performed during June. 4. Biled $4,850 to customers for services performed on account in July. 5. Borrowed $3,400 from the bank and signed a promissory note. 6. Received $2,350...
Painter Corporation was organized by five individuals on January 1 of the current year. At the...
Painter Corporation was organized by five individuals on January 1 of the current year. At the end of January year, the following monthly financial data are available: Total revenues Total expenses (excluding income taxes) Income tax expense (all unpaid as of January 31) Cash balance, January 31 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) Payables to suppliers for merchandise purchased from them (will be paid during February current year) Common stock $293,000 192,000 34,400...
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances,...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were
completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
mework Saved Help Save & Ext Chec Required information (The following information applies to the questions displayed below.) Lakewood Tennis Club (LTC) operates an indoor tennis facility. The company charges a $150 annual membership fee plus a member rental rate of $20 per court per hour. LTC's fiscal year-end is August 31, LTC's revenue recognition policy is described in its financial statement notes as follows: Revenue Recognition—LTC generates revenue from two sources. Annual membership fees arise from providing 12 months...
Flint Equipment Repair Income Statement For the Month Ended November 30, 2022 Revenues Service Revenue $ 6018 Expenses $ $ During November, the following summary transactions were completed. Nov. 8 Paid $1.432 for salaries due employees, of which $708 is for November and $724 is for October salaries payable. 10 Received $2,124 cash from customers in payment of account. 12 Received $4,366 cash for services performed in November 15 Purchased store equipment on account $4,248. Purchased supplies on account $1,534....
Painter Corporation was organized by five individuals on January 1 of the current year. At the end of January of the current year, the following monthly financial data are available: Total revenues Total expenses (excluding income taxes) Income tax expense (all unpaid as of January 31) Cash balance, January 31 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) Payables to suppliers for merchandise purchased from them (will be paid during February current year) Common stock...
ps:/ Saved The following information applies to the questions displayed below] Lakewood Tennis Club (LTC) operates an indoor tennis facility. The company charges a $165 annual membership fee plus a member rental rate of $15 per court per hour. LTC's fiscal year-end is August 31. LTC's revenue recognition policy is described in its financial statement notes as follows: Revenue Recognition-LTC generates revenue from two sources. Annual membership fees arise from providing 12 months of services to members, so they are...
Complete this question by entering your answers in the tabs Income Balance sheet Statement Complete the following statements: PAINTER CORPORATION Income Statement Total revenues Less: Total expenses (excluding income tax) Pretax income Less: Income tax expense Net income Total revenues $305,000 189,000 35,000 Total expenses (excluding income taxes) Income tax expense (all unpaid as of January 31) Cash balance, January 31 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) Payables to suppliers for merchandise purchased...
3 8 01:20:37 Required information [The following information applies to the questions displayed below.) The following transactions occurred during July 1. Received $1,700 cash for services performed during July 2. Received $8,150 cash from the issuance of common stock to owners. 3. Received $850 from a customer as payment for services performed during June. 4. Biled $4,850 to customers for services performed on account in July. 5. Borrowed $3,400 from the bank and signed a promissory note. 6. Received $2,350...
Painter Corporation was organized by five individuals on January 1 of the current year. At the end of January year, the following monthly financial data are available: Total revenues Total expenses (excluding income taxes) Income tax expense (all unpaid as of January 31) Cash balance, January 31 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) Payables to suppliers for merchandise purchased from them (will be paid during February current year) Common stock $293,000 192,000 34,400...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were
completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
Most questions answered within 3 hours.
-
A sock stuck to the side of a clothes-dryer barrel has a
centripetal acceleration of 24...
asked 13 minutes ago -
A perfect gas undergoes an isentropic process such that its
volume doubles. If the ratio of...
asked 33 minutes ago -
list the elements in groups 3A to 6A in the same order as in the
periodic...
asked 42 minutes ago -
Estimating effect size. Peng and Chen (2014)
evaluated effect size estimates for various tests. In their...
asked 52 minutes ago -
Write a script in MySQL that creates and calls a stored
procedure name test. This procedure...
asked 53 minutes ago -
If we test the following: H0: μ = 17
vs. H1: μ ≠ 17 and the...
asked 1 hour ago -
in the past year TVG had revenues of 3 million, cost
of goods sold of $25...
asked 1 hour ago -
4) In a polypeptide, which bond cannot rotate because of its
partial double bond character?
The...
asked 1 hour ago -
Assume that in the short run L = 1,000 and K = 100. 1. What is...
asked 1 hour ago -
At a given temperature, 2.06 atm of H2 and 3.7 atm of Br2 are
mixed and...
asked 1 hour ago -
Sodium reacts with Hydrochloric acid to form sodium chloride and
hydrogen gas. 2Na(s)+ 2 HCl(aq)-> 2...
asked 1 hour ago -
The following circuits (1 & 2) are combined to form a
series-parallel circuit and resulting circuit...
asked 1 hour ago