Homework Answers
|
Net Income |
||||||
|
Revenues |
20,569 |
|||||
|
Less:Expenses |
||||||
|
Rent Expenses |
1,000 |
|||||
|
Salaries Expenses |
3,000 |
|||||
|
Utilities Expenses |
1,000 |
|||||
|
Total Expenses |
5,000 |
|||||
|
Net Income |
15,569 |
|||||
|
Statement of Stock Holder Equity |
||||||
|
Particulars |
Common Stock |
Retained Earnings |
Total |
|||
|
Beginning Balance |
6,000 |
12,000 |
18,000 |
|||
|
Add:Additional Capital |
- |
|||||
|
Add:Net Income |
15,569 |
15,569 |
||||
|
Less:Dividend |
||||||
|
Closing Balance |
6,000 |
27,569 |
33,569 |
|||
Add Answer to:
Accounts Debit Credit Cash $20,569 Prepaid Rent 6,000 Supplies 4,000 Building 15,000 Accounts Payable $2,000 Deferred...
Question 36 4.75 pts Statement of Stockholders' Equity - two (2) questions - This problem does...
Question 36 4.75 pts Statement of Stockholders' Equity - two (2) questions - This problem does NOT build on the preceding problem, the numbers in the Unadjusted Trial Balance are different Instructions:Please prepare a statement of Stockholders' Equity on your scratch paper based on the following Unadjusted Trial Balance and Additional Information below to answer this question and the next question. You will need to know the ending balance for the retained earnings account and the common stock account Unadjusted...
Question 37 4.75 pts Question: Based on the Statement of Stockholders' Equity you prepared on your...
Question 37 4.75 pts Question: Based on the Statement of Stockholders' Equity you prepared on your scratch paper from the previous problem, what is the ending balance as of 12/31 for the Common Stock Account column? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only...
Cash Accounts Receivable 16,000 6,000 2,000 19,000 16,000 6,000 2,000 19,000 Supplies Equipment Accumulated Depr. 6,000...
Cash Accounts Receivable 16,000 6,000 2,000 19,000 16,000 6,000 2,000 19,000 Supplies Equipment Accumulated Depr. 6,000 Accounts Payable Wages Payable Common Stock 10,000 2,000 5,000 6,000 10,000 2,000 5,000 11,260 Retained Earnings 11,260 Dividends 1,000 1,000 Fees Larned 40,038 40,038 Wages Expense 19,129 Rent Expense 6,805 19,129 6,805 4,364 Depreciation Expense 4,364 Totals 74,298 74,298 30,298 40,038 44,000 Net Income (Loss) 9,740 34,260 9,740 44,000 40,038 40,038 44,000 The ending balance of retained earnings is $20,000 $16,260 $o $9,740 Previous...
Instructions: Please prepare an Income Statement on your scratch paper based on the following Unadjusted Trial...
Instructions: Please prepare an Income Statement on your scratch paper based on the following Unadjusted Trial Balance. Question: Based on the Income Statement you prepared on your scratch paper, what is the Net Income on the Income Statement for the period ending 12/31/xx? Unadjusted Trial Balance As of 12/31/20xx Accounts Debit Credit Cash $5,400 Prepaid Rent 5,000 Supplies 4,900 Building 8,978 Accounts Payable $1,900 Deferred Revenue 1,400 Common Stock 2,100 Retained Earnings 14,600 Revenue 8.978 Interest Expense 700 Salaries Expense...
Trial balance Account Titles Debit Credit Cash $ 95,430 Accounts Receivable $ 6,000 Prepaid Rent $ &n
Trial balance
Account Titles
Debit
Credit
Cash
$
95,430
Accounts Receivable
$
6,000
Prepaid Rent
$
25,000
Prepaid Insurance
$
2,700
Prepaid Supplies
$
120
Equipment
$ 400,000
Accumulated Depreciation
$
3,250
Accounts Payable
$
970
Accrued Interest
$
1,400
Accrued Salaries
$
550
Unearned Rental Revenue
$
1,950
Notes Payable
$ 350,000
Capital Stock-Mike
$
80,000
Capital Stock-Julie
$
80,000
Dividend
$
4,000
Retained Earnings
$
-
Rental Revenue
$
46,100
Salaries Expense
$
19,950
Rent Expense
$
5,000...
Account Debit Credit Cash $19,000 Accounts receivable 19,600 Supplies 3,000 Prepaid rent 2,100 Equipment 37,000 Accumulated...
Account
Debit
Credit
Cash
$19,000
Accounts
receivable
19,600
Supplies
3,000
Prepaid
rent
2,100
Equipment
37,000
Accumulated depreciation—equipment
$4,800
Accounts
payable
9,200
Interest
payable
1,050
Unearned
service revenue
1,000
Income
tax payable
2,400
Note
payable
18,000
Common
stock
15,000
Retained
earnings
5,000
Dividends
5,000
Service
revenue
99,050
Depreciation expense—equipment
1,900
Salary
expense
40,300
Rent
expense
11,000
Interest
expense
3,200
Insurance expense
3,800
Supplies
expense
2,100
Income
tax expense
7,500
Total
$155,500
$155,500
The adjusted trial balance for the year of Sneed...
Income Statement - one (1) question Instructions: Please prepare an Income Statement on your scratch paper...
Income Statement - one (1) question Instructions: Please prepare an Income Statement on your scratch paper based on the following Unadjusted Trial Balance. Question: Based on the Income Statement you prepared on your scratch paper, what is the Net Income on the Income Statement for the period ending 12/31/xx? Unadjusted Trial Balance As of 12/31/20xx Accounts Debit Credit Cash $5,400 Prepaid Rent 5,000 Supplies 4,900 Building 8,744 Accounts Payable $1,900 Deferred Revenue 1,400 Common Stock 2.100 Retained Earnings 14,600 Revenue...
Accounts Cash $6,200,000 Accounts Payable $1,310,000 Prepaid Insurance $250,000 Supplies $200,000 Building $8,000,000 Accum. Dep. Building...
Accounts Cash $6,200,000 Accounts Payable $1,310,000 Prepaid Insurance $250,000 Supplies $200,000 Building $8,000,000 Accum. Dep. Building $6,400,000 Revenue $5,000,000 COGS $1,830,000 Utility Expense $500,000 Interest Expense $440,000 Depreciation Expense $800,000 inventory $580,000 Accounts Receivable $700,000 Supply Expense $160,000 Salary Expense $720,000 Short term Investments $400,000 Common Stock $4,200,000 Retained Earnings $3,240,000 Dividends $320,000 Income Tax Payable $1,200,000 Telephone Expense $250,000 Required: All of the above accounts have their ending balances except for retained earnings which has it's beginning balance. 1....
cash -debit $9,300 acct receivable -debit $143,00 prepaid rent debit $6,360 supplies - debit $3,300 deferred...
cash -debit $9,300 acct receivable -debit $143,00 prepaid rent debit $6,360 supplies - debit $3,300 deferred revenue -Credit $2,300 common stock - credit $10,000 retained earnings credit $5,300 service revenue credit $47,160 the December 31, 2021, unadjusted trial balance for demon deacons corporation is presented below. at year end the following additional information is available The balance of prepaid rent ,$6,360 represents payment on October 31 2021 for rent form november 1, 2021 to april 30, 2021 The balance of...
Cash Buidings Accounts Payable Utilities Expense Rent Expense Supplies expense $ 33,000 $ 64,000 $ 11,000...
Cash Buidings Accounts Payable Utilities Expense Rent Expense Supplies expense $ 33,000 $ 64,000 $ 11,000 $3,000 $ 18,000 $ 4,000 Service Revenue $ 120,000 Salaries Expense $ 24,000 Equipment $ 86,000 Supplies $6,000 Notes payable $ 42,000 Accounts Receivables $ 21,000 In addition, the company had common stock of $55,000 at the beginning of the year and issued an additional $10,000 during the year. The company also had retained earnings of $23,000 at the beginning of the year and...
Question 36 4.75 pts Statement of Stockholders' Equity - two (2) questions - This problem does NOT build on the preceding problem, the numbers in the Unadjusted Trial Balance are different Instructions:Please prepare a statement of Stockholders' Equity on your scratch paper based on the following Unadjusted Trial Balance and Additional Information below to answer this question and the next question. You will need to know the ending balance for the retained earnings account and the common stock account Unadjusted...
Question 37 4.75 pts Question: Based on the Statement of Stockholders' Equity you prepared on your scratch paper from the previous problem, what is the ending balance as of 12/31 for the Common Stock Account column? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only...
Cash Accounts Receivable 16,000 6,000 2,000 19,000 16,000 6,000 2,000 19,000 Supplies Equipment Accumulated Depr. 6,000 Accounts Payable Wages Payable Common Stock 10,000 2,000 5,000 6,000 10,000 2,000 5,000 11,260 Retained Earnings 11,260 Dividends 1,000 1,000 Fees Larned 40,038 40,038 Wages Expense 19,129 Rent Expense 6,805 19,129 6,805 4,364 Depreciation Expense 4,364 Totals 74,298 74,298 30,298 40,038 44,000 Net Income (Loss) 9,740 34,260 9,740 44,000 40,038 40,038 44,000 The ending balance of retained earnings is $20,000 $16,260 $o $9,740 Previous...
Instructions: Please prepare an Income Statement on your scratch paper based on the following Unadjusted Trial Balance. Question: Based on the Income Statement you prepared on your scratch paper, what is the Net Income on the Income Statement for the period ending 12/31/xx? Unadjusted Trial Balance As of 12/31/20xx Accounts Debit Credit Cash $5,400 Prepaid Rent 5,000 Supplies 4,900 Building 8,978 Accounts Payable $1,900 Deferred Revenue 1,400 Common Stock 2,100 Retained Earnings 14,600 Revenue 8.978 Interest Expense 700 Salaries Expense...
Trial balance
Account Titles
Debit
Credit
Cash
$
95,430
Accounts Receivable
$
6,000
Prepaid Rent
$
25,000
Prepaid Insurance
$
2,700
Prepaid Supplies
$
120
Equipment
$ 400,000
Accumulated Depreciation
$
3,250
Accounts Payable
$
970
Accrued Interest
$
1,400
Accrued Salaries
$
550
Unearned Rental Revenue
$
1,950
Notes Payable
$ 350,000
Capital Stock-Mike
$
80,000
Capital Stock-Julie
$
80,000
Dividend
$
4,000
Retained Earnings
$
-
Rental Revenue
$
46,100
Salaries Expense
$
19,950
Rent Expense
$
5,000...
Account
Debit
Credit
Cash
$19,000
Accounts
receivable
19,600
Supplies
3,000
Prepaid
rent
2,100
Equipment
37,000
Accumulated depreciation—equipment
$4,800
Accounts
payable
9,200
Interest
payable
1,050
Unearned
service revenue
1,000
Income
tax payable
2,400
Note
payable
18,000
Common
stock
15,000
Retained
earnings
5,000
Dividends
5,000
Service
revenue
99,050
Depreciation expense—equipment
1,900
Salary
expense
40,300
Rent
expense
11,000
Interest
expense
3,200
Insurance expense
3,800
Supplies
expense
2,100
Income
tax expense
7,500
Total
$155,500
$155,500
The adjusted trial balance for the year of Sneed...
Income Statement - one (1) question Instructions: Please prepare an Income Statement on your scratch paper based on the following Unadjusted Trial Balance. Question: Based on the Income Statement you prepared on your scratch paper, what is the Net Income on the Income Statement for the period ending 12/31/xx? Unadjusted Trial Balance As of 12/31/20xx Accounts Debit Credit Cash $5,400 Prepaid Rent 5,000 Supplies 4,900 Building 8,744 Accounts Payable $1,900 Deferred Revenue 1,400 Common Stock 2.100 Retained Earnings 14,600 Revenue...
Cash Buidings Accounts Payable Utilities Expense Rent Expense Supplies expense $ 33,000 $ 64,000 $ 11,000 $3,000 $ 18,000 $ 4,000 Service Revenue $ 120,000 Salaries Expense $ 24,000 Equipment $ 86,000 Supplies $6,000 Notes payable $ 42,000 Accounts Receivables $ 21,000 In addition, the company had common stock of $55,000 at the beginning of the year and issued an additional $10,000 during the year. The company also had retained earnings of $23,000 at the beginning of the year and...
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