Homework Answers
Answer:
Net income for the year is
=Service revenue+interest revenue - salaries and wages expenses - travel expense
=$1,608+$336-$960-$396
=$1,944-$1,356
=$588
Answer:
d.$588
Net income for this year is $588
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Credit 312 Answer the question based on the following adjusted trial balance Debit Cash $9,372 Accounts...
Given the following adjusted trial balance: Debit Credit Cash $864 Accounts receivable 1091 Inventory 1624 45...
Given the following adjusted trial balance: Debit Credit Cash $864 Accounts receivable 1091 Inventory 1624 45 160 Prepaid rent Equipment Accumulated depreciation equipment Accounts payable Unearned service revenue $27 43 63 Common stock 110 Retained earnings Service revenue 3435 191 Interest revenue 29 Salaries and wages expense 80 Travel expense 34 Total $3898 $3898 Net income for the year is:
Given the following adjusted trial balance: Debit Credit Cash $648 Accounts receivable 818 Inventory 1218 Prepaid...
Given the following adjusted trial balance: Debit Credit Cash $648 Accounts receivable 818 Inventory 1218 Prepaid rent 34 120 $20 Equipment Accumulated depreciation-equipment Accounts payable Unearned service revenue 32 48 Common stock 78 Retained earnings 2580 Service revenue 144 22 Interest revenue Salaries and wages expense 60 Travel expense 26 Total $ 2924 $2924 After closing entries have been posted, the balance in retained earnings will be:
Given the following adjusted trial balance: Debit Credit Cash $848 Accounts receivable 1070 1593 44 150...
Given the following adjusted trial balance: Debit Credit Cash $848 Accounts receivable 1070 1593 44 150 $27 Inventory Prepaid rent Equipment Accumulated depreciation equipment Accounts payable Unearned service revenue Common stock Retained earnings Service revenue 42 62 101 3370 188 29 80 Interest revenue Salaries and wages expense Travel expense Total 34 $3819 $3819 Net Income for the year is: Common stock TUT Retained earnings 3370 Service revenue 188 29 Interest revenue Salaries and wages expense 80 Travel expense 34...
The following is the adjusted trial balance for Baker Services. Accounts Debit Credit Cash $50,700 Accounts...
The following is the adjusted trial balance for Baker Services. Accounts Debit Credit Cash $50,700 Accounts Receivable 30,000 Prepaid Insurance 6,500 Office Supplies 3,000 Land 50,000 Building 140,000 Accumulated Depreciation—Building $16,500 Equipment 76,000 Accumulated Depreciation—Equipment 7,000 Accounts Payable 27,000 Salaries Payable 3,000 Unearned Revenue 24,000 Mortgage Payable 102,000 Baker, Capital 25,500 Baker, Withdrawals 25,000 Service Revenue 290,000 Salaries Expense 63,000 Depreciation Expense—Building and Equipment 6,000 Supplies Expense 11,000 Insurance Expense 14,800 Utilities Expense 19,000 Total $495,000 $495,000 There were no...
YUSLIURE Given the following adjusted trial balance: Credit Debit $748 944 1406 39 140 $23 37...
YUSLIURE Given the following adjusted trial balance: Credit Debit $748 944 1406 39 140 $23 37 Cash Accounts receivable Inventory Prepaid rent Equipment Accumulated depreciation-equipment Accounts payable Unearned service revenue Common stock Retained earnings Service revenue Interest revenue Salaries and wages expense Travel expense Total 55 96 2975 166 25 70 30 $3377 $3377 Net income for the year is: $137.
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Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, Equipment $24,000 2,800 Accounts Payable Salaries Payable 4,450 Unearned Service Revenue 3,875 8,000 Common Stock Retained Earnings 2,255 Dividends 10,500 Service Revenue 100,000 Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense 4,950 Income Taxes Expense 5,800 Totals $145,380 $145,380 Salaries Expense 49,400 Rent Expense 17,250 2,200 Insurance Expense Depreciation Expense Income Taxes Expense 4,950 5,800...
Question 17 0.5 pts A company has the following adjusted trial balance: Debit Credit 700 300...
Question 17 0.5 pts A company has the following adjusted trial balance: Debit Credit 700 300 100 4,000 2,200 300 200 Cash Accounts receivable Prepaid rent Equipment Accumulated depreciation Equipment Accounts payable Unearned service revenue Common stock Retained earnings Service revenue Interest revenue Salaries and wages expense Depreciation expense Rent expense Total 500 1,000 2,500 100 800 500 400 6,800 6,800 After closing entries have been journalized and posted, the post-closing trial balance total for the credit column will be...
Matthews Company Adjusted Trial Balance December 31, 2017 DEBIT CREDIT Cash Accounts Receivable A...
What is Total Liabilities and Stockholders' Equity as of
December 31, 2017?
Matthews Company Adjusted Trial Balance December 31, 2017 DEBIT CREDIT Cash Accounts Receivable Allowance for Doubtful Accounts Short term Note Receivable Interest Receivable Supplies Inventory Prepaid Expenses Equipment Accumulated Depreciation Copyrights Accounts Payable Interest Payable Unearned Revenue Long Term Note Payable Common Stock Paid-in-Capital In Excess of Par CS Retained Earnings (1/1/17) Dividends Sales Sales Returns& Allowances Sales Discounts Cost of Goods Sold Bad debt expense Depreciaion Expense...
Agnes Co. Unadjusted Trial Balance 6/30/20 Debit Credit Cash $10,000 Accounts Receivable $13,200 Supplies $2,400 Prepaid...
Agnes Co. Unadjusted Trial Balance 6/30/20 Debit Credit Cash $10,000 Accounts Receivable $13,200 Supplies $2,400 Prepaid Insurance $1,500 Equipment $38,500 Accumulated Depreciation $8,300 Accounts Payable $2,500 Unearned Service Revenue $8,900 Common Stock $15,000 Retained Earnings $9,500 Service Revenue $35,000 Salary Expense $11,200 Utilities Expenses $2,400 $79,200 $79,200 Additional information (not reflected in the above): Supplies used during the month, $450. Prepaid insurance expired during the month, $300. Depreciation on equipment for the month, $500. Unearned service revenue earned during the...
Use the following Adjusted Trial Balance to determine the Total Current Liabilities: Account Debit Credit Accounts...
Use the following Adjusted Trial Balance to determine the Total Current Liabilities: Account Debit Credit Accounts Payable Accounts Receivable Accumulated Depreciation Building Cash Common Stock Dividends Interest Revenue Land Mortgage Payable Notes Payable Prepaid Expenses Salaries Expense Salaries Payable Service Revenue Unearned Revenue Wage Expense 120 Adjusted Trial Balance Total 1,830 1,830 Notes: Interest Revenue relates to a loan extended by our company to another company - Mortgage Payable will be repaid in five (5) years - Notes Payable will...
Given the following adjusted trial balance: Debit Credit Cash $864 Accounts receivable 1091 Inventory 1624 45 160 Prepaid rent Equipment Accumulated depreciation equipment Accounts payable Unearned service revenue $27 43 63 Common stock 110 Retained earnings Service revenue 3435 191 Interest revenue 29 Salaries and wages expense 80 Travel expense 34 Total $3898 $3898 Net income for the year is:
Given the following adjusted trial balance: Debit Credit Cash $648 Accounts receivable 818 Inventory 1218 Prepaid rent 34 120 $20 Equipment Accumulated depreciation-equipment Accounts payable Unearned service revenue 32 48 Common stock 78 Retained earnings 2580 Service revenue 144 22 Interest revenue Salaries and wages expense 60 Travel expense 26 Total $ 2924 $2924 After closing entries have been posted, the balance in retained earnings will be:
Given the following adjusted trial balance: Debit Credit Cash $848 Accounts receivable 1070 1593 44 150 $27 Inventory Prepaid rent Equipment Accumulated depreciation equipment Accounts payable Unearned service revenue Common stock Retained earnings Service revenue 42 62 101 3370 188 29 80 Interest revenue Salaries and wages expense Travel expense Total 34 $3819 $3819 Net Income for the year is: Common stock TUT Retained earnings 3370 Service revenue 188 29 Interest revenue Salaries and wages expense 80 Travel expense 34...
YUSLIURE Given the following adjusted trial balance: Credit Debit $748 944 1406 39 140 $23 37 Cash Accounts receivable Inventory Prepaid rent Equipment Accumulated depreciation-equipment Accounts payable Unearned service revenue Common stock Retained earnings Service revenue Interest revenue Salaries and wages expense Travel expense Total 55 96 2975 166 25 70 30 $3377 $3377 Net income for the year is: $137.
Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, Equipment $24,000 2,800 Accounts Payable Salaries Payable 4,450 Unearned Service Revenue 3,875 8,000 Common Stock Retained Earnings 2,255 Dividends 10,500 Service Revenue 100,000 Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense 4,950 Income Taxes Expense 5,800 Totals $145,380 $145,380 Salaries Expense 49,400 Rent Expense 17,250 2,200 Insurance Expense Depreciation Expense Income Taxes Expense 4,950 5,800...
Question 17 0.5 pts A company has the following adjusted trial balance: Debit Credit 700 300 100 4,000 2,200 300 200 Cash Accounts receivable Prepaid rent Equipment Accumulated depreciation Equipment Accounts payable Unearned service revenue Common stock Retained earnings Service revenue Interest revenue Salaries and wages expense Depreciation expense Rent expense Total 500 1,000 2,500 100 800 500 400 6,800 6,800 After closing entries have been journalized and posted, the post-closing trial balance total for the credit column will be...
What is Total Liabilities and Stockholders' Equity as of
December 31, 2017?
Matthews Company Adjusted Trial Balance December 31, 2017 DEBIT CREDIT Cash Accounts Receivable Allowance for Doubtful Accounts Short term Note Receivable Interest Receivable Supplies Inventory Prepaid Expenses Equipment Accumulated Depreciation Copyrights Accounts Payable Interest Payable Unearned Revenue Long Term Note Payable Common Stock Paid-in-Capital In Excess of Par CS Retained Earnings (1/1/17) Dividends Sales Sales Returns& Allowances Sales Discounts Cost of Goods Sold Bad debt expense Depreciaion Expense...
Use the following Adjusted Trial Balance to determine the Total Current Liabilities: Account Debit Credit Accounts Payable Accounts Receivable Accumulated Depreciation Building Cash Common Stock Dividends Interest Revenue Land Mortgage Payable Notes Payable Prepaid Expenses Salaries Expense Salaries Payable Service Revenue Unearned Revenue Wage Expense 120 Adjusted Trial Balance Total 1,830 1,830 Notes: Interest Revenue relates to a loan extended by our company to another company - Mortgage Payable will be repaid in five (5) years - Notes Payable will...
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