Which of the following are expenses in 2019? • wages paid during 2019 that relate to...
Which of the following are expenses in 2019?
• wages paid during 2019 that relate to 2019
• wages earned by employees during 2019, owing at year end
• wages paid in 2019 owing at year end 2018
• dividends paid to shareholders in 2019
• loan from the bank for $10 000
• depreciation of an asset in 2019
Homework Answers
Following are the expenses in 2019 :
1) wages paid during 2019 that relate to 2019.
2) wages earned by employees during 2019, owing at year end.
3) depreciation of an asset in 2019.
Add Answer to:
Which of the following are expenses in 2019?
• wages paid during 2019 that relate to...
Accrued Expenses (1 of 2) NetSolutions pays it employees biweekly. During December, NetSolutions paid wages of...
Accrued Expenses (1 of 2) NetSolutions pays it employees biweekly. During December, NetSolutions paid wages of $950 on December 13 and $1,200 on December 27. As of December 31, NetSolutions owes $250 wages to employees for Monday and Tuesday, December 30 and 31. 250 Dec. 31 Wages Expense Wages Payable Accrued wages. 51 22 250 O NetSolutions paid wages of $1,275 on January 10. This payment includes the $250 of accrued wages recorded on December 31. Jan. 10 Wages Expense...
Maj Co. has provided balance sheet information for the year just ended, December 31, 2018: Cash...
Maj Co. has provided balance sheet information for the year just ended, December 31, 2018: Cash Accounts receivable Building Accumulated depreciation Total assets Accounts payable Long-Term Loan Total liabilities Shareholders' Equity Total Liabilities & Shareholders' Equity $40,000 50,000 100,000 (40,000) $150,000 $30,000 70,000 100,000 50,000 $150,000 The company has also provided the following information and estimates for 2019: Revenue is expected to be $200,000 and net income is expected to be $40,000. The company will pay $30,000 of cash dividends...
Additional information and adjustments The rent for March 2019 has already been received. The value of...
Additional information and adjustments The rent for March 2019 has already been received. The value of inventories according to physical stocktaking as at 28 February 2019 are as follows: * Trading inventory R86 000 * Stationery R500 2. 3. An invoice received for an advertisement was erroneously debited to sundry expenses account, R2 400. 4. The telephone account for February 2019 has not yet been paid, R900. 5. Bank charges, which appeared on the bank statement for February 2019, were...
The t-accounts on page 2 show account balances as of January 1, 2018 for Honeydukes Sweet...
The t-accounts on page 2 show account balances as of January 1, 2018 for Honeydukes Sweet Shop. Listed below is a summary of the company's transactions for 2018, as well as other information about account balances. 1. Retail sales for the year totaled $1,800. $1,200 was received in cash and $600 was on account. 2. Purchased $1,340 of inventory on account. 3. Made payments to suppliers (for inventory previously purchased on account) in the amount of $1,352. 4. Collected $604...
inter ort-term notes January 31 The following selected transactions relate to liabilities of United Insulation Corporation....
inter
ort-term notes January 31 The following selected transactions relate to liabilities of United Insulation Corporation. United's fiscal year ends on December 31. Required: Prepare the appropriate journal entries through the maturity of each liability 2013-2 2018 Jan. 13 Feb. 1 Negotiated a revolving credit agreement with Parish Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $20 million at the bank's prime rate. Arranged a three-month bank loan of $5...
[intro] On April 1, Adventures Travel Agency Inc. began operations. The following transactions were completed during...
[intro] On April 1, Adventures Travel Agency Inc. began operations. The following transactions were completed during the month: 1. Issued common shares for $5,000 cash. 2. Obtained a bank loan for $20,000. 3. Paid $11,000 cash to buy equipment. 4. Paid $1,200 cash for April office rent. 5. Paid $1,450 for supplies. 6. Purchased $600 of newspaper advertising on account. 7. Earned $18,000 for services performed: cash of $2,000 was received from customers, and the balance was billed to customers...
The last person who answered this made the t accounts look really confusing so I wasn't...
The last person who answered this made the t accounts look
really confusing so I wasn't sure how to go about analyzing
them.
The t-accounts on page 2 show account balances as of January 1, 2018 for Honeydukes Sweet Shop. Listed below is a summary of the company's transactions for 2018, as well as other information about account balances. 1. Retail sales for the year totaled $1,800. $1,200 was received in cash and $600 was on account. 2. Purchased $1,340...
Assets Equity Revenues - Expenses Cash Account receivable 6400 Stock of Supplies Property Plant & Equipment...
Assets Equity Revenues - Expenses Cash Account receivable 6400 Stock of Supplies Property Plant & Equipment = Liabilities + Account Operating payable Expenses 3000 10000 Bank Loan Contributed capital 20000 5300 11600 36000 12000 5300 6400 11600 36000 0 0 0 = 3000 10000 12000 0 0 20000 0 59300 45000 Balance Sheet & Income Statement Coast Ltd., which has just started trading on 1 January 2019, has the following account balances prior to the recording of the final month...
Betadon Sdn Bhd is a wholesale company which buys and sells low quality, high priced clothing....
Betadon Sdn Bhd is a wholesale company which buys and sells low quality, high priced clothing. The clothes are purchased from a factory in Melaka. Betadon sells the clothes to retailers located all over the Klang Valley. Some of the company's account balances as at 31 December 2019 are shown below: RM Ordinary shares (RM2 per share) 4,000,000 5% redeemable preference shares 500,000 Retained earnings at 31 December 2018 500,000 10% debenture (due 2030) 120,000 Freehold land (cost) 3,000,000 Buildings...
a. Wages of $8,000 are earned by workers but not paid as of December 31, b....
a. Wages of $8,000 are earned by workers but not paid as of December 31, b. Depreciation on the company's equipment for the year is $18,000. c. The Office Supplies account had a $240 debit balance at the beginning of the year. During the year, $5,200 of office supplies are purchased. A physical count of supplies at December 31 shows $440 of supplies available. d. The Prepaid Insurance account had a $4.000 balance at the beginning of the year. An...
Accrued Expenses (1 of 2) NetSolutions pays it employees biweekly. During December, NetSolutions paid wages of $950 on December 13 and $1,200 on December 27. As of December 31, NetSolutions owes $250 wages to employees for Monday and Tuesday, December 30 and 31. 250 Dec. 31 Wages Expense Wages Payable Accrued wages. 51 22 250 O NetSolutions paid wages of $1,275 on January 10. This payment includes the $250 of accrued wages recorded on December 31. Jan. 10 Wages Expense...
Maj Co. has provided balance sheet information for the year just ended, December 31, 2018: Cash Accounts receivable Building Accumulated depreciation Total assets Accounts payable Long-Term Loan Total liabilities Shareholders' Equity Total Liabilities & Shareholders' Equity $40,000 50,000 100,000 (40,000) $150,000 $30,000 70,000 100,000 50,000 $150,000 The company has also provided the following information and estimates for 2019: Revenue is expected to be $200,000 and net income is expected to be $40,000. The company will pay $30,000 of cash dividends...
Additional information and adjustments The rent for March 2019 has already been received. The value of inventories according to physical stocktaking as at 28 February 2019 are as follows: * Trading inventory R86 000 * Stationery R500 2. 3. An invoice received for an advertisement was erroneously debited to sundry expenses account, R2 400. 4. The telephone account for February 2019 has not yet been paid, R900. 5. Bank charges, which appeared on the bank statement for February 2019, were...
The t-accounts on page 2 show account balances as of January 1, 2018 for Honeydukes Sweet Shop. Listed below is a summary of the company's transactions for 2018, as well as other information about account balances. 1. Retail sales for the year totaled $1,800. $1,200 was received in cash and $600 was on account. 2. Purchased $1,340 of inventory on account. 3. Made payments to suppliers (for inventory previously purchased on account) in the amount of $1,352. 4. Collected $604...
inter
ort-term notes January 31 The following selected transactions relate to liabilities of United Insulation Corporation. United's fiscal year ends on December 31. Required: Prepare the appropriate journal entries through the maturity of each liability 2013-2 2018 Jan. 13 Feb. 1 Negotiated a revolving credit agreement with Parish Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $20 million at the bank's prime rate. Arranged a three-month bank loan of $5...
The last person who answered this made the t accounts look
really confusing so I wasn't sure how to go about analyzing
them.
The t-accounts on page 2 show account balances as of January 1, 2018 for Honeydukes Sweet Shop. Listed below is a summary of the company's transactions for 2018, as well as other information about account balances. 1. Retail sales for the year totaled $1,800. $1,200 was received in cash and $600 was on account. 2. Purchased $1,340...
Assets Equity Revenues - Expenses Cash Account receivable 6400 Stock of Supplies Property Plant & Equipment = Liabilities + Account Operating payable Expenses 3000 10000 Bank Loan Contributed capital 20000 5300 11600 36000 12000 5300 6400 11600 36000 0 0 0 = 3000 10000 12000 0 0 20000 0 59300 45000 Balance Sheet & Income Statement Coast Ltd., which has just started trading on 1 January 2019, has the following account balances prior to the recording of the final month...
Betadon Sdn Bhd is a wholesale company which buys and sells low quality, high priced clothing. The clothes are purchased from a factory in Melaka. Betadon sells the clothes to retailers located all over the Klang Valley. Some of the company's account balances as at 31 December 2019 are shown below: RM Ordinary shares (RM2 per share) 4,000,000 5% redeemable preference shares 500,000 Retained earnings at 31 December 2018 500,000 10% debenture (due 2030) 120,000 Freehold land (cost) 3,000,000 Buildings...
a. Wages of $8,000 are earned by workers but not paid as of December 31, b. Depreciation on the company's equipment for the year is $18,000. c. The Office Supplies account had a $240 debit balance at the beginning of the year. During the year, $5,200 of office supplies are purchased. A physical count of supplies at December 31 shows $440 of supplies available. d. The Prepaid Insurance account had a $4.000 balance at the beginning of the year. An...
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