Hello, can someone please tell me how I got this wrong? the system keeps telling me the "Accumulated depreciation" amount totals to $62,000 and saying the total is incorrect, as well as the total for "total property, plant, and equipment total" that's $338,00.00
Any feedback on how to solve this will help!
Homework Answers
Answers
- Few things you need to consider to get it ALL RIGHT.
- First, enter Accumulated Depreciation of $ 62,000 as a NEGATIVE AMOUNT, as “- $ 62000” or “($62000)”
- Also, you missed a “LABEL” to select below “Liabilities”
heading.
Here, you have to Select “Current Liabilities”.
Add Answer to:
Hello, can someone please tell me how I got this wrong? the
system keeps telling me...
help me with the ones i got wrong please Multiple-step income statement and balance sheet The...
help me with the ones i got wrong please
Multiple-step income statement and balance sheet
The following selected accounts and their current balances
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30, 20Y7:
Cash $118,100 Retained Earnings $520,600
Accounts Receivable 317,700 Dividends 70,700
Inventory 359,000 Sales 4,326,000
Estimated Returns Inventory 5,000 Cost of Goods Sold
2,502,200
Office Supplies 11,100 Sales Salaries Expense 703,600
Prepaid Insurance 8,600 Advertising Expense 193,500
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I got the answers wrong. Can someone help me figure out answers please? At the beginning...
I got the answers wrong. Can someone help me figure out answers
please?
At the beginning of 2015, Barth Company reported the following balance sheet. Assets Liabilities Cash $1,200 Accounts Payable $3,000 Accounts Receivable 3,675 Equity Equipment 2,500 Common Stock 11,875 Land 12,500 Retained Earnings 5,000 Total Assets $19,875 Total Liabilities and Equity $19,875 Required a. At the end of 2015, Barth Company reported the following assets and liabilities: Cash, $2,200; Accounts Receivable, $4,600; Equipment, $2,250; Land, $12,500; and Accounts...
can someone show me how to create a cash flow statement with this please Create a...
can someone show me how to create a cash flow statement with this please Create a Cashflow statement using the following below: Jan-Feb Net Income 57000 Depreciation 20000 Purchased fixed assets paying cash 310000 Received $90,000 cash for issuance of notes payable 90000 Received $120,000 cash for issuance of common stock 120000 Paid $20,000 for purchase of treasury stock 20000 Ending cash balance 50000 Class Start Date Jan-Feb Assets 2017 2016 Current assets: Cash 50000 20000 Accounts receivable 75000 85000 Inventory 100000 80000 Long-term assets Plant assets 430000 120000 Accumulated depreciation 12000 9000 Total Assets 667000 314000 Liabilities Current liabilities ...
can you please help me with the ones in red. they are wrong. thanks $ 260...
can you please help me with the ones in red. they are
wrong. thanks
$ 260 Burgess Company Statement of Cash Flows Operating activities: Net income Adjustments to convert net income to a cash basis: Depreciation Increase in accounts receivable Increase in inventory Increase in accounts payable Increase in accrued liabilities Increase in income taxes payable o 0 00 OOOOOOOO 186 (2) (67) (55) 115 40% 20 ® ® ® 237 497 Gain on sale of equipment Net cash provided...
Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all...
Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on June 30, 2017, the end of the fiscal year, the balances of selected accounts from the ledger of Dynamic Weight Loss are as follows: Accounts Payable $9,060 Accounts Receivable 21,830 Accumulated Depreciation - Equipment 27,270 Common Stock 180,000 Cash ? Equipment 78,820 Land 105,000 Prepaid Insurance 5,070 Prepaid Rent 3,170 Retained Earnings 1,740 Salaries Payable 3,530 Supplies 540...
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Balance Sheet Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $19,600 Accounts payable 33,300 Supplies 8,900 Prepaid insurance 15,900 Land 254,100 Total current assets $331,800 Property, plant, and equipment: Building $531,800 Equipment 120,300 Total property, plant, and equipment 864,800 Total assets $1,196,600 Liabilities Current liabilities: Accounts receivable $44,500 Accumulated depreciation-building 219,000 Accumulated depreciation-equipment 35,600 Net income 190,300 Total liabilities $489,400...
can you please tell me how you arrive at the beginning cash balance for November and...
can you please tell me how you arrive at the beginning
cash balance for November and december. 21,400 and 112,800. thanks
for you help.
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: • Sales are budgeted at $300,000 for November, $320,000 for December, and $310,000 for January • Collections are expected to be 75% in the month of sale and 25% in the month following the sale. • The cost...
Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance...
Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 2018 Assets Current assets: $16,500 28,200 7,500 13,500 215,000 $280,700 $449,700 101,700 731,100 $1,011,800 Cash Accounts payable Supplies Prepaid insurance Land Total current assets Property, plant, and equipment: Building Equipment Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts receivable Accumulated depreciation-building Accumulated depreciation-equipment Net income Total liabilities Stockholders' Equity Wages payable Common stock Retained...
Please check my work for me, if I did anything wrong please give me an explanation...
Please check my work for me, if
I did anything wrong please give me an explanation for the correct
answer. I have to do Balance sheet, RE statement, and Income
Statement base off the Adjusted Trial balance.
MAF, Inc. Adjusted Trial Balance Nine Months Ended September 30, 2020 237,130 1,135,000 60,000 750 320,000 3,500 (6,000) (2,500) 50,000 31,000 16,500 57,600 39,600 200,000 470,000 Cash Accounts receivable Allowance for uncollectible accounts Interest receivable Equipment Inventory Supplies Prepaid insurance Prepaid advertising Notes...
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2. The adjusted trial balance of Melanie O'Mallie Dance Studio Company follows: (Click the icon to view the adjusted trial balance.) Print Read the requirements? Requirement 1. Prepare the classified balance sheet of Melanie O'Mallle Dance Studio Company at August 31, 2018. Use the report form. You must compute the ending balance of Retained Earnings. Begin by preparing the asset section of the balance sheet, then prepare the liabilities section and finally the stockholders' equity section. Melanie O'Mallie Dance Studio...
help me with the ones i got wrong please
Multiple-step income statement and balance sheet
The following selected accounts and their current balances
appear in the ledger of Kanpur Co. for the fiscal year ended June
30, 20Y7:
Cash $118,100 Retained Earnings $520,600
Accounts Receivable 317,700 Dividends 70,700
Inventory 359,000 Sales 4,326,000
Estimated Returns Inventory 5,000 Cost of Goods Sold
2,502,200
Office Supplies 11,100 Sales Salaries Expense 703,600
Prepaid Insurance 8,600 Advertising Expense 193,500
Office Equipment 259,900 Depreciation Expense—
Store...
I got the answers wrong. Can someone help me figure out answers
please?
At the beginning of 2015, Barth Company reported the following balance sheet. Assets Liabilities Cash $1,200 Accounts Payable $3,000 Accounts Receivable 3,675 Equity Equipment 2,500 Common Stock 11,875 Land 12,500 Retained Earnings 5,000 Total Assets $19,875 Total Liabilities and Equity $19,875 Required a. At the end of 2015, Barth Company reported the following assets and liabilities: Cash, $2,200; Accounts Receivable, $4,600; Equipment, $2,250; Land, $12,500; and Accounts...
can you please help me with the ones in red. they are
wrong. thanks
$ 260 Burgess Company Statement of Cash Flows Operating activities: Net income Adjustments to convert net income to a cash basis: Depreciation Increase in accounts receivable Increase in inventory Increase in accounts payable Increase in accrued liabilities Increase in income taxes payable o 0 00 OOOOOOOO 186 (2) (67) (55) 115 40% 20 ® ® ® 237 497 Gain on sale of equipment Net cash provided...
Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on June 30, 2017, the end of the fiscal year, the balances of selected accounts from the ledger of Dynamic Weight Loss are as follows: Accounts Payable $9,060 Accounts Receivable 21,830 Accumulated Depreciation - Equipment 27,270 Common Stock 180,000 Cash ? Equipment 78,820 Land 105,000 Prepaid Insurance 5,070 Prepaid Rent 3,170 Retained Earnings 1,740 Salaries Payable 3,530 Supplies 540...
Balance Sheet Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $19,600 Accounts payable 33,300 Supplies 8,900 Prepaid insurance 15,900 Land 254,100 Total current assets $331,800 Property, plant, and equipment: Building $531,800 Equipment 120,300 Total property, plant, and equipment 864,800 Total assets $1,196,600 Liabilities Current liabilities: Accounts receivable $44,500 Accumulated depreciation-building 219,000 Accumulated depreciation-equipment 35,600 Net income 190,300 Total liabilities $489,400...
can you please tell me how you arrive at the beginning
cash balance for November and december. 21,400 and 112,800. thanks
for you help.
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: • Sales are budgeted at $300,000 for November, $320,000 for December, and $310,000 for January • Collections are expected to be 75% in the month of sale and 25% in the month following the sale. • The cost...
Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 2018 Assets Current assets: $16,500 28,200 7,500 13,500 215,000 $280,700 $449,700 101,700 731,100 $1,011,800 Cash Accounts payable Supplies Prepaid insurance Land Total current assets Property, plant, and equipment: Building Equipment Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts receivable Accumulated depreciation-building Accumulated depreciation-equipment Net income Total liabilities Stockholders' Equity Wages payable Common stock Retained...
Please check my work for me, if
I did anything wrong please give me an explanation for the correct
answer. I have to do Balance sheet, RE statement, and Income
Statement base off the Adjusted Trial balance.
MAF, Inc. Adjusted Trial Balance Nine Months Ended September 30, 2020 237,130 1,135,000 60,000 750 320,000 3,500 (6,000) (2,500) 50,000 31,000 16,500 57,600 39,600 200,000 470,000 Cash Accounts receivable Allowance for uncollectible accounts Interest receivable Equipment Inventory Supplies Prepaid insurance Prepaid advertising Notes...
2. The adjusted trial balance of Melanie O'Mallie Dance Studio Company follows: (Click the icon to view the adjusted trial balance.) Print Read the requirements? Requirement 1. Prepare the classified balance sheet of Melanie O'Mallle Dance Studio Company at August 31, 2018. Use the report form. You must compute the ending balance of Retained Earnings. Begin by preparing the asset section of the balance sheet, then prepare the liabilities section and finally the stockholders' equity section. Melanie O'Mallie Dance Studio...
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