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Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Notes Payable (long-term) 3,230 3,100 1,800 3,600 35,100 1,400 5,100 7,100 Common Stock Retained Earnings Dividends Service Revenue Depreciation Expense-Equipment Salaries Expense Rent Expense Utilities Expense Supplies Expense 22,000 14,330 2,200 1,800 800 1,200 400 200 A Ques 22. Billings Auto Repair has the following account balances at December 31, 2018, from its adjusted trial balance. BE: (Click the icon to view the account balances.) Compute Billings...
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6,000 2,100 1,000 500 150,000 Cash Accounts Receivable Prepaid Expenses Supplies Equipment Accumulated Depreciation Accounts Payable Unearned Fees Notes Payable Bob Steely, Capital Bob Steely. Withdrawals Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 15,000 6,200 4,000 14,000 19,000 8.000 154,900 25,000 12,000 3,400 5,000 100 Totals 213,100 213,100 In the space below, calculate: a) net income b) total assets c) total liabilities d) total current assets e) beginning balance of Owner's Equity for next year.
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G Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividenda Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals Debit Credit $ 8,800 17,500 7,838 181,000 $ 37,286 47,000 12,800 11,000 69,000 1,689 136,500 12,000 121,000 24,049 66,833 12,000 12, 255 $389,275 $389,275 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON...
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Check Credits Debits $4.100 9,100 3,100 28,000 Part B of 8 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained tannings Totala $ 6,400 4,400 5,400 19.000 9,100 $44,300 points $44,300 The following is a summary of the transactions for the year: rences 1. January 24 Provide plumbing services for cash, $16.000, and on account, 361,000. 2. Maren 13 Collection sont receivable, 349.000. 3. Hay 6 Issue shares of common stock in...
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Cash Dividends Account Title Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit $ 6,800 18,000 8,113 170,000 $ 35,020 48,000 10,800 4,000 35,000 48,544 140,000 38,000 130,000 22,588 69,178 10,000 12,685 $ 403,364 $403,364 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON...
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$10,960 26,410 32,990 180,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Common Stock Cash Equipment Land Prepaid Insurance Prepaid Rent Retained Earnings Salaries Payable Supplies Unearned Fees 95,350 127,000 6,140 3,840 39,860 4,270 660 3,180 Prepare a classified balance sheet that includes the correct balance for Cash. Dynamic Weight Loss Co. Balance Sheet June 30, 2018 Assets Current assets: Cash Accounts receivable Supplies Prepaid insurance Prepaid rent Total current assets Property, plant, and equipment: Land Equipment Accumulated depreciation -...
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Debit Company Adjusted Trial Balance December 31, 20X7 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock Retained earnings Dividends 4,000 Service revenue Salary expense 40,000 Rent expense 10,000 Supplies expense 1,500 Depreciation expense 5,000 Utilities expense 1,200 $4,000 2,000 2,000 14,000 10,000 14,700 75,000 Total $121,700 $121.700 *Assume 30% income tax Balance Sheet Assets Liabilities Total Liabilities...
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Complete the full accounting
cycle
Required information Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.) The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Accounts Debits Cash $ 3,700 Accounts 8,700 Receivable Supplies 2,700 Equipment 20,000 Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 35,100 $ 4,800 2,800 3,800 0 15,000 8,700 $35, 100...
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Debit Credit Account Titles Cash Accounts Receivable 15,360 9,210 5,680 48,900 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue 6,500 3,640 1,630 23,100 21,400 15,000 49,880 7,300 Rent Revenue Depreciation Expense Utilities Expense 3,300 11,000 5,000 113,450 Supplies Expense Total 113,450 Required: Prepare the fourth closing entry to close the Dividends account to the Retained Earnings account. Date Account Title Debit Credit Dec. 31 Dividends
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Accounts Payable
Accounts Receivable
Accrued Liabilities
Accumulated Depreciation-Building
Accumulated Depreciation-Equipment
Advances to Employees
Allowance for Doubtful Accounts
Bonds Payable
Bond Sinking Fund
Buildings
Cash
Cash Surrender Value of Life Insurance
Common Stock
Construction in Process
Copyrights
Debt Investments
Dividends Payable
Discount on Bonds Payable
Equipment
Equity Investments
Finished Goods
Franchises
Goodwill
Income Tax Payable
Income Tax Receivable
Interest Payable
Interest Receivable
Inventory
Investments in Common Stock
Investments in Stocks and Bonds
Land
Notes Payable
Notes Receivable
Noncontrolling Interest
Paid-in Capital...
Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Notes Payable (long-term) 3,230 3,100 1,800 3,600 35,100 1,400 5,100 7,100 Common Stock Retained Earnings Dividends Service Revenue Depreciation Expense-Equipment Salaries Expense Rent Expense Utilities Expense Supplies Expense 22,000 14,330 2,200 1,800 800 1,200 400 200 A Ques 22. Billings Auto Repair has the following account balances at December 31, 2018, from its adjusted trial balance. BE: (Click the icon to view the account balances.) Compute Billings...
6,000 2,100 1,000 500 150,000 Cash Accounts Receivable Prepaid Expenses Supplies Equipment Accumulated Depreciation Accounts Payable Unearned Fees Notes Payable Bob Steely, Capital Bob Steely. Withdrawals Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 15,000 6,200 4,000 14,000 19,000 8.000 154,900 25,000 12,000 3,400 5,000 100 Totals 213,100 213,100 In the space below, calculate: a) net income b) total assets c) total liabilities d) total current assets e) beginning balance of Owner's Equity for next year.
G Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividenda Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals Debit Credit $ 8,800 17,500 7,838 181,000 $ 37,286 47,000 12,800 11,000 69,000 1,689 136,500 12,000 121,000 24,049 66,833 12,000 12, 255 $389,275 $389,275 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON...
Check Credits Debits $4.100 9,100 3,100 28,000 Part B of 8 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained tannings Totala $ 6,400 4,400 5,400 19.000 9,100 $44,300 points $44,300 The following is a summary of the transactions for the year: rences 1. January 24 Provide plumbing services for cash, $16.000, and on account, 361,000. 2. Maren 13 Collection sont receivable, 349.000. 3. Hay 6 Issue shares of common stock in...
Cash Dividends Account Title Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit $ 6,800 18,000 8,113 170,000 $ 35,020 48,000 10,800 4,000 35,000 48,544 140,000 38,000 130,000 22,588 69,178 10,000 12,685 $ 403,364 $403,364 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31. WILSON...
$10,960 26,410 32,990 180,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Common Stock Cash Equipment Land Prepaid Insurance Prepaid Rent Retained Earnings Salaries Payable Supplies Unearned Fees 95,350 127,000 6,140 3,840 39,860 4,270 660 3,180 Prepare a classified balance sheet that includes the correct balance for Cash. Dynamic Weight Loss Co. Balance Sheet June 30, 2018 Assets Current assets: Cash Accounts receivable Supplies Prepaid insurance Prepaid rent Total current assets Property, plant, and equipment: Land Equipment Accumulated depreciation -...
Debit Company Adjusted Trial Balance December 31, 20X7 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock Retained earnings Dividends 4,000 Service revenue Salary expense 40,000 Rent expense 10,000 Supplies expense 1,500 Depreciation expense 5,000 Utilities expense 1,200 $4,000 2,000 2,000 14,000 10,000 14,700 75,000 Total $121,700 $121.700 *Assume 30% income tax Balance Sheet Assets Liabilities Total Liabilities...
Complete the full accounting
cycle
Required information Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.) The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Accounts Debits Cash $ 3,700 Accounts 8,700 Receivable Supplies 2,700 Equipment 20,000 Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 35,100 $ 4,800 2,800 3,800 0 15,000 8,700 $35, 100...
Debit Credit Account Titles Cash Accounts Receivable 15,360 9,210 5,680 48,900 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue 6,500 3,640 1,630 23,100 21,400 15,000 49,880 7,300 Rent Revenue Depreciation Expense Utilities Expense 3,300 11,000 5,000 113,450 Supplies Expense Total 113,450 Required: Prepare the fourth closing entry to close the Dividends account to the Retained Earnings account. Date Account Title Debit Credit Dec. 31 Dividends
Accounts Payable
Accounts Receivable
Accrued Liabilities
Accumulated Depreciation-Building
Accumulated Depreciation-Equipment
Advances to Employees
Allowance for Doubtful Accounts
Bonds Payable
Bond Sinking Fund
Buildings
Cash
Cash Surrender Value of Life Insurance
Common Stock
Construction in Process
Copyrights
Debt Investments
Dividends Payable
Discount on Bonds Payable
Equipment
Equity Investments
Finished Goods
Franchises
Goodwill
Income Tax Payable
Income Tax Receivable
Interest Payable
Interest Receivable
Inventory
Investments in Common Stock
Investments in Stocks and Bonds
Land
Notes Payable
Notes Receivable
Noncontrolling Interest
Paid-in Capital...