From the following information what is the total Assets for Zack's Brokerage: Commissions income $50,000. Accoun
From the following information what is the total Assets for Zack's Brokerage:
Commissions income $50,000.
Accounts payable 3,500.
Accounts receivable, net 5,000.
Zach’s Capital at 12/31/XX 103,500.
Office equipment, net 10,000.
Advertising expense 3,200.
Cash and cash equivalents 8,000.
Land 35,000.
Notes payable 50,000.
Insurance expense 1,500.
Real estate taxes 9,000.
Salaries expense 12,000.
Salaries payable 1,000.
Building, net 100,000.
Total Assets Fill in #?
| A. |
$104,500 |
|
| B. |
$182,200 |
|
| C. |
$103,500 |
|
| D. |
$158,000 |
|
| E. |
None of the Above |
Homework Answers
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From the following information what is the total Assets for
Zack's Brokerage:
Commissions
income $50,000.
Accoun
ACC 101 Chapter 1 and 2 Practice Questions: 1. Presented below is selected financial information for...
ACC 101 Chapter 1 and 2 Practice Questions: 1. Presented below is selected financial information for Stanley's Bike Shop. Using the appropriate information, prepare the income statement for 2004. Total Assets at December 31, 2004 $91,00 2004 Expenses 38,000 Total Equity at December 31,2003 48,000 Total Liabilities at December 31, 2004 35,000 2004 Revenues 46,000 0 > 2. Prepare a December 31 balance sheet in proper form for Surety Insurance from the following items and amounts: Commissions earned $40,000 Accounts...
You've collected the following information about a company: What are the total assets & total equity?...
You've collected the following information about a company:
What are the total assets & total
equity?
Intro You've collected the following information about a company: Assets Liabilities and Equity Cash 9,000 Accounts payable 18,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable 4,000 Current liabilities Inventory 29,000 Long-term debt 95,000 Current assets Total liabilities Machines 34,000 Paid-in capital 20,000 Real estate 80,000 Retained earnings Fixed assets Equity Total assets Total liab. & equity
The following income statement along with additional year-end information about changes in noncash current assets and...
The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. $1,828,000 991,000 837,000 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expense-Patents 4,200 Utilities expense 18,125 361,660 475, 340 6,200 $ 481,540 Gain on sale of equipment Net income Additional Year-End Balance Sheet Data Accounts receivable $30,500 increase Inventory 25,000...
Calculate the following: - Net income - Operating income - Total assets - Total Liabilities -...
Calculate the following:
- Net income
- Operating income
- Total assets
- Total Liabilities
- Total stockholders equity
- Gross revenue
- Net revenue
- Operating margin ratio
- Net profit margin ratio
- Estimated cash flow
- Times interest earned ratio
Prestige Worldwide - Trial balance as of December 31, 2018: Gross Service Revenue $ 115,981,250 Bad Debt Expense 2,655,000 (3,575,000) Discounts on Sales Salaries $ 55,825,000 Benefits 14,178,292 Administrative 4,342,500 Insurance 325,000 Interest 164,575 Depreciation 3,200,000 Maintenanсe...
Additional information from accounting records: a. Land that originally cost $9,000 was sold for $6,000 b. ...
Additional information from accounting records:
a. Land that originally cost
$9,000 was sold for $6,000
b. The common stock of news corp
was purchased for $35,000 as a long-term investment
c. New equipment was
purchased for $150,000 cash
d. A $30,000 note was paid at
maturity on January 1
e. On January 1, 2018, $60,000 of
bonds were sold at face value
f. Common stock
($50,000 par) was sold for $76,000
g. In may, Jamaica Inc
issued a 5% stock...
T-Accounts? Net Income? Total Assets? View traruction list ...... View journal entry worksheet ........ No Event...
T-Accounts? Net Income? Total Assets?
View traruction list ...... View journal entry worksheet ........ No Event General Joumal Debit Credit Cash 58,000 Common stock 58,000 Accounts receivable 110,000 Service revenue 110,000 Salaries expense 76,000 Cash 76,000 Supplies 16,000 Accounts payable 16,000 Cash 15 90,000 Accounts receivable 90,000 Accounts payable 11,700 11,700 Cash 5,800 7. Dividends 5,800 Cash 11.400 Supplies expense 11,400 ASSETS LIABILITES STOCKHOLDERS' EQUITY Cash Accounts Payable Common Stock Bal. Bal. Bal. Accounts Receivable Dividends Bal. Bal Supplies Service...
9. For 2019, MAP Inc. had net income of $8,100 and collected the following information: Received...
9. For 2019, MAP Inc. had net income of $8,100 and collected the following information: Received dividends Decrease in merchandise inventory Decrease in long-term notes payable Increase in retained earnings Cash received from sale of equipment Issued common stock for cash $1,200 1,800 3,200 6,100 3,500 3,700 Based on this information, what is MAP's net cash provided (used) by financing activities for 2019? a. $500 b. ($1,500) c. ($2,200) d. $3,700 To the following information for the next TWO que...
Dump Company Post-Closing Trial Balance December 31, 2016 Account Debit Credit Cash $ Accounts Receivable 27,000 18,000...
Dump Company Post-Closing Trial Balance December 31, 2016 Account Debit Credit Cash $ Accounts Receivable 27,000 18,000 18,000 Merchandise Inventory 1,500 50,000 12,000 Prepaid Insurance Equipment and Fixtures Accumulated Depreciation Accounts Payable Salaries and Commissions Payable Common Stock 21,000 6,600 23,000 51,900 Retained Earnings $ 114,500 $ 114,500 Totals For the Quarter Ended March 31, 2017 Sales Revenue $ 121,700 60,850 Cost of Goods Sold Gross Profit Selling and Administrative Expenses: 60,850 Commissions Expense 6,085 5,000 Salaries Expense Rent Expense...
Use the information above to develop a Balance Sheet and Income Statement. Answer the following questions...
Use the information above to develop a Balance Sheet and Income
Statement. Answer the following questions
A) Calculate the Net Income (or Net Loss) After Interest and
Taxes
B) Calculate the Total Amount of Current Assets
C) Calculate the Total Amount of Current Liabilities.
D) Calculate the Total Assets
E) What is the total amount of the stockholders equity
Cash $28,784 Depreciation Expense $4,100 Taxes Payable $712 Land $62,000 Treasury Stock $2,210 Mortgage $43,500 Payable Sales Discounts $1.258 and Returns...
acct hw help QUESTION 26 Elston Company compiled the following financial information as of December 31,...
acct hw help
QUESTION 26 Elston Company compiled the following financial information as of December 31, 2014: Service revenue $700,000 Common stock 150,000 Machine 350,000 Operating expenses 625,000 Cash 200,000 Dividends 50,000 Supplies 25,000 Accounts payable 100,000 Accounts receivable 75,000 Inventory 80,000 Retained earnings, 1/1/14 375,000 Elston's assets on December 31, 2014 are $650,000 $730,000 OO $625,000 $475,000 QUESTION 25 These financial statement items are for ABC Corporation at year-end, December 31, 2011: Salaries expense Utilities expense Equipment Accounts Payable...
ACC 101 Chapter 1 and 2 Practice Questions: 1. Presented below is selected financial information for Stanley's Bike Shop. Using the appropriate information, prepare the income statement for 2004. Total Assets at December 31, 2004 $91,00 2004 Expenses 38,000 Total Equity at December 31,2003 48,000 Total Liabilities at December 31, 2004 35,000 2004 Revenues 46,000 0 > 2. Prepare a December 31 balance sheet in proper form for Surety Insurance from the following items and amounts: Commissions earned $40,000 Accounts...
You've collected the following information about a company:
What are the total assets & total
equity?
Intro You've collected the following information about a company: Assets Liabilities and Equity Cash 9,000 Accounts payable 18,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable 4,000 Current liabilities Inventory 29,000 Long-term debt 95,000 Current assets Total liabilities Machines 34,000 Paid-in capital 20,000 Real estate 80,000 Retained earnings Fixed assets Equity Total assets Total liab. & equity
The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. $1,828,000 991,000 837,000 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expense-Patents 4,200 Utilities expense 18,125 361,660 475, 340 6,200 $ 481,540 Gain on sale of equipment Net income Additional Year-End Balance Sheet Data Accounts receivable $30,500 increase Inventory 25,000...
Calculate the following:
- Net income
- Operating income
- Total assets
- Total Liabilities
- Total stockholders equity
- Gross revenue
- Net revenue
- Operating margin ratio
- Net profit margin ratio
- Estimated cash flow
- Times interest earned ratio
Prestige Worldwide - Trial balance as of December 31, 2018: Gross Service Revenue $ 115,981,250 Bad Debt Expense 2,655,000 (3,575,000) Discounts on Sales Salaries $ 55,825,000 Benefits 14,178,292 Administrative 4,342,500 Insurance 325,000 Interest 164,575 Depreciation 3,200,000 Maintenanсe...
Additional information from accounting records:
a. Land that originally cost
$9,000 was sold for $6,000
b. The common stock of news corp
was purchased for $35,000 as a long-term investment
c. New equipment was
purchased for $150,000 cash
d. A $30,000 note was paid at
maturity on January 1
e. On January 1, 2018, $60,000 of
bonds were sold at face value
f. Common stock
($50,000 par) was sold for $76,000
g. In may, Jamaica Inc
issued a 5% stock...
T-Accounts? Net Income? Total Assets?
View traruction list ...... View journal entry worksheet ........ No Event General Joumal Debit Credit Cash 58,000 Common stock 58,000 Accounts receivable 110,000 Service revenue 110,000 Salaries expense 76,000 Cash 76,000 Supplies 16,000 Accounts payable 16,000 Cash 15 90,000 Accounts receivable 90,000 Accounts payable 11,700 11,700 Cash 5,800 7. Dividends 5,800 Cash 11.400 Supplies expense 11,400 ASSETS LIABILITES STOCKHOLDERS' EQUITY Cash Accounts Payable Common Stock Bal. Bal. Bal. Accounts Receivable Dividends Bal. Bal Supplies Service...
9. For 2019, MAP Inc. had net income of $8,100 and collected the following information: Received dividends Decrease in merchandise inventory Decrease in long-term notes payable Increase in retained earnings Cash received from sale of equipment Issued common stock for cash $1,200 1,800 3,200 6,100 3,500 3,700 Based on this information, what is MAP's net cash provided (used) by financing activities for 2019? a. $500 b. ($1,500) c. ($2,200) d. $3,700 To the following information for the next TWO que...
Dump Company Post-Closing Trial Balance December 31, 2016 Account Debit Credit Cash $ Accounts Receivable 27,000 18,000 18,000 Merchandise Inventory 1,500 50,000 12,000 Prepaid Insurance Equipment and Fixtures Accumulated Depreciation Accounts Payable Salaries and Commissions Payable Common Stock 21,000 6,600 23,000 51,900 Retained Earnings $ 114,500 $ 114,500 Totals For the Quarter Ended March 31, 2017 Sales Revenue $ 121,700 60,850 Cost of Goods Sold Gross Profit Selling and Administrative Expenses: 60,850 Commissions Expense 6,085 5,000 Salaries Expense Rent Expense...
Use the information above to develop a Balance Sheet and Income
Statement. Answer the following questions
A) Calculate the Net Income (or Net Loss) After Interest and
Taxes
B) Calculate the Total Amount of Current Assets
C) Calculate the Total Amount of Current Liabilities.
D) Calculate the Total Assets
E) What is the total amount of the stockholders equity
Cash $28,784 Depreciation Expense $4,100 Taxes Payable $712 Land $62,000 Treasury Stock $2,210 Mortgage $43,500 Payable Sales Discounts $1.258 and Returns...
acct hw help
QUESTION 26 Elston Company compiled the following financial information as of December 31, 2014: Service revenue $700,000 Common stock 150,000 Machine 350,000 Operating expenses 625,000 Cash 200,000 Dividends 50,000 Supplies 25,000 Accounts payable 100,000 Accounts receivable 75,000 Inventory 80,000 Retained earnings, 1/1/14 375,000 Elston's assets on December 31, 2014 are $650,000 $730,000 OO $625,000 $475,000 QUESTION 25 These financial statement items are for ABC Corporation at year-end, December 31, 2011: Salaries expense Utilities expense Equipment Accounts Payable...
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