Revenues, liabilities, stockholders equity, gains have credit balances
= Accounts payable 5000 + Notes payable 6000 + Common stock 2000 + Revenues 32000
= $45000
.
Comment if you face any issues
Gold Enterprises showed the following balances at the end of its first year: Cash $ 4,000...
DJ ULICU 43. Electrelane Company showed the following balances at the end of its first year: Cash $ 4,000 Prepaid insurance 7,000 Accounts receivable 5,000 Accounts payable 4,000 Notes payable 6,000 Common stock 2,000 Dividends 1,000 Revenues 32,000 Expenses 25,000 What did Electrelene Company show as total credits on its trial balance? A) $49,000 B) $9,000 C) $44,000 D) $45,000
cc Winrow Company showed the following balances at the end of its first year: Cash $11,000 Prepaid insurance 500 Accounts receivable 2,500 Accounts payable 2,000 Notes payable 3,000 Common stock 5,000 Dividends 500 Revenues 17,000 Expenses 12,500 What did Winrow Company show as total credits on its trial balance
Qwik Company showed the following balances at the end of its first year: Cash $8,700 Prepaid insurance $9,400 A/R $7,000 A/P $5,800 Notes Payable $9,400 S.E. $2,300 Dividends $1,400 Revenues $44,000 Expenses $35,000 What did Qwik Company show as total credits on its trial balance?
Sheridan Company showed the following balances at the end of its first year: Cash $3930 Prepaid insurance 6900 Accounts receivable 4930 Accounts payable 3970 Notes payable 5980 Owner’s Capital 1990 Owner’s Dividends 920 Revenues 31200 Expenses 25200 What did Sheridan Company show as total credits on its trial balance? a $40130 b $43140 c $11920 d $43220
Below are the account balances of Bruins Company at the end of November. Accounts Cash Accounts Receivable Supplies Prepaid Rent Equipment Accounts Payable Salaries Payable Interest Payable Deferred Revenue Notes Payable Balances Accounts $ 40,000 Common Stock 50,000 Retained Earnings 1,100 Dividends 3,000 Service Revenue Salaries Expense 17,000 Rent Expense 5,000 Interest Expense 3,000 Supplies Expense 9,000 Utilities Expense 30,000 Balances $50,000 35,000 1,100 65,000 30,000 12,000 3,000 7,000 6,000 Required: Prepare a trial balance by placing amounts in the...
The records of Andy’s Games at December 31, 2017 showed the following account balances: Accounts payable $12,000 Wages expense $60,000 Insurance expense 1,000 Advertising expense 10,000 Accounts receivable 19,000 Cash 15,000 Andy, capital, Jan 1, 2017 62,500 Equipment 25,000 Land 12,000 Maintenance expense 6,000 Notes payable 31,000 Revenues 130,000 Building 50,000 Interest expense 1,500 I n addition, Andy withdrew $36,000 during the year for personal expenses. Prepare in good form an Income Statement, Statement of Owner’s Equity, and Balance Sheet...
Nash's Trading Post, LLC's trial balance reported the following balances at the end of its first year: Cash $10360 Prepaid insurance 520 Accounts receivable 2590 Accounts payable 2070 Notes payable 3110 Common stock 4000 Dividends 520 Revenues 21460 Expenses 12950 What amount did Nash's Trading Post, LLC's trial balance show as total credits?
The year-end trial balance for Garnet & Gold Corporation appears as follows: Garnet & Gold Corporation Trial Balance December 31 Debit Credit Cash $ 300 Accounts Receivable 500 Prepaid Insurance 60 Supplies 140 Equipment 4,000 Accumulated Depreciation, Equipment $ 800 Unearned Revenues 300 Common Stock 1,000 Retained Earnings 1,400 Service Revenue 3,000 Salaries and Wages Expense 1,000 Rent Expense 500 $ 6,500 $ 6,500 If, at year-end, the unexpired insurance were $40, the company should record an adjusting entry that...
Problem 2-6B Prepare a trial balance (LO2-6) Below are account balances of Ducks Company at the end of September Balances $ 12,000 3,000 Accounts Balances Accounts Cash $20,000 Retained Earnings Accounts Receivable 13,000 Dividends Supplies 6,000 Service Revenue Prepaid Insurance 4,000 Salaries Expense Equipment 23,000 Insurance Expense Accounts Payable 6,000 Advertising Expense Salaries Payable 3,000 Supplies Expense Utilities Payable 1,000 Entertainment Expense Deferred Revenue 8,000 Utilities Expense Common Stock 24,000 8,000 7,000 1,000 9,000 5,000 1,000 Required: Prepare a trial...
Beck Company had the following accounts and balances at the end of the year. What is net income or net loss for the year? Cash $69,000 Accounts Payable $12,000 Common Stock $21,000 Dividends $12,000 Operating Expenses $12,000 Accounts Receivable $51,000 Inventory $44,000 Long-term Notes Payable $33,000 Revenues $92,000 Salaries Payable $31,000 A. net loss of $7,000 OB. net income of $92,000 OC. net income of $80,000 OD. net income of $5,000