Homework Answers
The answer has been presented in the supporting sheet with detailed explanation. All journal entry has been passed and posted in ledger and balance sheet has been completed as on 31 January 2019. And cash flow from investing and financing activity has also been calculated.
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The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Balance...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts payable Accounts receivable Cash Common stock (par S1) Inventory Land Long-term notes payable Prepaid expenses Plant & Equipment Retained earnings Supplies Short-term notes payable Short-term investments Utilities payable S32,500 40,000 7,000 7,680 2,500 40,000 2,000 3,340 17,200 16,200 1,500 54,700 2,800 1,260 Pepper's entered into the following transactions during January 2019: 1. Received $40,000 from customers for services provided in December 2018. 2. Paid...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts payable Accounts receivable Cash Common stock (par S1) Inventory Land Long-term notes payable Prepaid expenses Plant & Equipment Retained earnings Supplies Short-term notes payable Short-term investments Utilities payable S32,500 40,000 7,000 7,680 2,500 40,000 2,000 3,340 17,200 16,200 1,500 54,700 2,800 1,260 Pepper's entered into the following transactions during January 2019: 1. Received $40,000 from customers for services provided in December 2018. 2. Paid...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts payable Accounts receivable Cash Common stock (par $1) Inventory Land Long-term notes payable Prepaid expenses Plant & Equipment Retained eanings Supplies Short-term notes payable Short-term investments Utilities payable Balance S32,500 40,000 7,000 7,680 2,500 40,000 2,000 3,340 17,200 16,200 1,500 54,700 2,800 1,260 Pepper's entered into the following transactions during January 2019 eived $40,000 from customers for services provided in December 2018. 2. Paid...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts payable Accounts receivable Cash Common stock (par S1) Inventory Land Long-term notes payable Prepaid expenses Plant& Equipment Retained earnings Supplies Short-term notes payable Short-term investments Utilities payable $32,500 40,000 7,000 7,680 2,500 40,000 2,000 3,340 17,200 16,200 1,500 54,700 2,800 1,260 Pepper's entered into the following transactions during January 2019 1. Received $40,000 from customers for services provided in December 2018. 2. Paid $8.450...
Prepare a journal entry Pepper's entered into the following transactions during January 2019 1. Received $40,000...
Prepare
a journal entry
Pepper's entered into the following transactions during January 2019 1. Received $40,000 from customers for services provided in December 2018 2. Paid $8,450 in advance for 3 months of rent. 3. Purchased inventory of $9,500 on account. 4. Issued 10,500 shares of common stock for $30,000. 5. Paid $1,260 for utilities incurred in December 2018. 6. Purchased US Bonds for $6,000 redeemable 1/31/22. 7. Sold land in exchange for $4,200 cash and a $25,000 note due...
At December 31, 2018, Smole Corporation's adjusted trial balance shows the following balances: (Click the icon...
At December 31, 2018, Smole Corporation's adjusted trial balance shows the following balances: (Click the icon to view more information.) EEB (Click the icon to view the balances.) Requirement 1. Prepare the current liability section of Smole Corporation's balance sheet at December 31, 2018. (If applicable, combine the Notes Payable on one line of the statement.) Data Table Smole Corporation Balance Sheet (partial) December 31, 2018 Accrued Warranty Payable $65,000 Account Amount 7% Notes Payable, due April 30, 2019 165,000...
4 The unadjusted trial balance of the Manufacturing Equitable at December 31, 2018, the end of...
4
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2018, the end of its fiscal year, included the following account balances. Manufacturing's 2018 financial statements were issued on April 1, 2019 Accounts receivable Accounts payable Bank notes payable Mortgage note payable $ 103,000 41,000 658,000 1,345,000 Other information: a. The bank notes, issued August 1, 2018, are due on July 31, 2019, and pay interest at a rate of 12%, payable at maturity. b. The mortgage note...
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2018, the end of its...
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2018, the end of its fiscal year, included the following account balances. Manufacturing’s 2018 financial statements were issued on April 1, 2019. Accounts receivable $ 98,000 Accounts payable 38,800 Bank notes payable 638,000 Mortgage note payable 1,290,000 Other information: The bank notes, issued August 1, 2018, are due on July 31, 2019, and pay interest at a rate of 9%, payable at maturity. The mortgage note is due on...
The following information is provided for JPT Welding, Inc. at December 31, 2020: Account Balances Balance...
The following information is provided for JPT Welding, Inc. at December 31, 2020: Account Balances Balance ($) Accounts Payable 5,700 Accounts Receivable 7,350 Additional Paid-in-Capital 16,680 Cash 45,000 Common Stock ($1 par value) 15,000 Deferred Revenue 3,000 Interest Payable 350 Interest Receivable 450 Investments 10,000 Land 5,000 Long-Term Notes Payable 3,430 Prepaid Expenses 600 Property and Equipment 9,600 Retained Earnings 23,560 Short-Term Notes Payable 1,820 Wages Payable 8,460 JPT entered into the following transactions during January 2020: Sold 1,200 shares...
The adjusted trial balance for HP Company as of December 31, 2018, follows. Debit $ 30,000...
The adjusted trial balance for HP Company as of December 31, 2018, follows. Debit $ 30,000 52,000 16,000 148,000 23,000 120,200 16,000 78,000 Cash Accounts receivable Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable Common stock Dividends Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles Totals 96,000 20,000 19,000 30,000 99,000 20,000 46,000 484,000 19,000...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts payable Accounts receivable Cash Common stock (par S1) Inventory Land Long-term notes payable Prepaid expenses Plant & Equipment Retained earnings Supplies Short-term notes payable Short-term investments Utilities payable S32,500 40,000 7,000 7,680 2,500 40,000 2,000 3,340 17,200 16,200 1,500 54,700 2,800 1,260 Pepper's entered into the following transactions during January 2019: 1. Received $40,000 from customers for services provided in December 2018. 2. Paid...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts payable Accounts receivable Cash Common stock (par S1) Inventory Land Long-term notes payable Prepaid expenses Plant & Equipment Retained earnings Supplies Short-term notes payable Short-term investments Utilities payable S32,500 40,000 7,000 7,680 2,500 40,000 2,000 3,340 17,200 16,200 1,500 54,700 2,800 1,260 Pepper's entered into the following transactions during January 2019: 1. Received $40,000 from customers for services provided in December 2018. 2. Paid...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts payable Accounts receivable Cash Common stock (par $1) Inventory Land Long-term notes payable Prepaid expenses Plant & Equipment Retained eanings Supplies Short-term notes payable Short-term investments Utilities payable Balance S32,500 40,000 7,000 7,680 2,500 40,000 2,000 3,340 17,200 16,200 1,500 54,700 2,800 1,260 Pepper's entered into the following transactions during January 2019 eived $40,000 from customers for services provided in December 2018. 2. Paid...
The following information is provided for Pepper's Eatery at December 31, 2018. Adjusted Trial Balance Accounts payable Accounts receivable Cash Common stock (par S1) Inventory Land Long-term notes payable Prepaid expenses Plant& Equipment Retained earnings Supplies Short-term notes payable Short-term investments Utilities payable $32,500 40,000 7,000 7,680 2,500 40,000 2,000 3,340 17,200 16,200 1,500 54,700 2,800 1,260 Pepper's entered into the following transactions during January 2019 1. Received $40,000 from customers for services provided in December 2018. 2. Paid $8.450...
Prepare
a journal entry
Pepper's entered into the following transactions during January 2019 1. Received $40,000 from customers for services provided in December 2018 2. Paid $8,450 in advance for 3 months of rent. 3. Purchased inventory of $9,500 on account. 4. Issued 10,500 shares of common stock for $30,000. 5. Paid $1,260 for utilities incurred in December 2018. 6. Purchased US Bonds for $6,000 redeemable 1/31/22. 7. Sold land in exchange for $4,200 cash and a $25,000 note due...
At December 31, 2018, Smole Corporation's adjusted trial balance shows the following balances: (Click the icon to view more information.) EEB (Click the icon to view the balances.) Requirement 1. Prepare the current liability section of Smole Corporation's balance sheet at December 31, 2018. (If applicable, combine the Notes Payable on one line of the statement.) Data Table Smole Corporation Balance Sheet (partial) December 31, 2018 Accrued Warranty Payable $65,000 Account Amount 7% Notes Payable, due April 30, 2019 165,000...
4
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2018, the end of its fiscal year, included the following account balances. Manufacturing's 2018 financial statements were issued on April 1, 2019 Accounts receivable Accounts payable Bank notes payable Mortgage note payable $ 103,000 41,000 658,000 1,345,000 Other information: a. The bank notes, issued August 1, 2018, are due on July 31, 2019, and pay interest at a rate of 12%, payable at maturity. b. The mortgage note...
The adjusted trial balance for HP Company as of December 31, 2018, follows. Debit $ 30,000 52,000 16,000 148,000 23,000 120,200 16,000 78,000 Cash Accounts receivable Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable Common stock Dividends Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles Totals 96,000 20,000 19,000 30,000 99,000 20,000 46,000 484,000 19,000...
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