Homework Help Question & Answers

Cash $ 5,000 Accounts receivable 3,270 Supplies 5,060 1,500 9,400 $ 1,080 845 7,000 6,000 Prepaid...




Cash $ 5,000 Accounts receivable 3,270 Supplies 5,060
1,500 9,400 $ 1,080 845 7,000 6,000 Prepaid Insurance Equipment Accumulated depreciation - Equipment Accounts payable Long-Te
Cash $ 5,000 Accounts receivable 3,270 Supplies 5,060
1,500 9,400 $ 1,080 845 7,000 6,000 Prepaid Insurance Equipment Accumulated depreciation - Equipment Accounts payable Long-Term notes payable Common stock Retained carnings Dividends Service fees camed Rent expense Salaries expense Supplies expense Insurance expense Depreciation expense - Equipment 7,505 2,900 62,400 15,000 33,400 4,700 3,250 720 630 Interest expense Totals $ 84,830 $ 84,830 Required: Prepare an Income Statement, a statement of Retained Earnings and a Balance Sheet. Also, calculate profit margin, current ratio, working capital, assets turnover and debt ratio.
0 0
Next > < Previous
Answer

This Homework Help Question: "Cash $ 5,000 Accounts receivable 3,270 Supplies 5,060 1,500 9,400 $ 1,080 845 7,000 6,000 Prepaid..." No answers yet.

Be the First!

Request Answer

Request answer!

We need 10 more requests to produce the answer to this homework help question. Share with your friends to get the answer faster!

0 /10 have requested the answer to this homework help question.

Request! (Login Required) Share with friends


Once 10 people have made a request, the answer to this question will be available in 1-2 days.
All students who have requested the answer will be notified once they are available.
Know the answer?
Add Answer of:
Cash $ 5,000 Accounts receivable 3,270 Supplies 5,060 1,500 9,400 $ 1,080 845 7,000 6,000 Prepaid...
Your Answer: Your Name: What's your source?
Similar Homework Help Questions
  • Prepare a Balance Sheet $ 2,700 3.270 Supplies. Prepaid insurance Accumulated depreciation Equipment Long-term notes payable....

    Prepare a Balance Sheet $ 2,700 3.270 Supplies. Prepaid insurance Accumulated depreciation Equipment Long-term notes payable. 1,500 6,400 . . $ 1,080 845 7,000 3,000 5,205 2,900 Service fees eamed... . 62,400 15,000 33,400 4,700 3,250 720 $79,530 $79,530

  • P3-8A Financial Statements and Closing Entries The adjusted trial balance shown below is for Sharpe Consulting...

    P3-8A Financial Statements and Closing Entries The adjusted trial balance shown below is for Sharpe Consulting Service as of December 31. Bryan Sharpe made no capital contributions during the year. Please see attached picture for further details. Need guidance for answering questions in excel. Thank you. Cambridge Business Publishers Chapter 3 Accrual Basis of Accounting 1 Cash............. Accounts receivable... Supplies ... Prepaid insurance. ...... Equipment ............ Accumulated depreciation Equipment Accounts payable...... Long-term notes payable .. Common stock .... Retained earnings...

  • Prepare a detailed Balance Sheet and also calculate the following ratios: A) Current Ratio B) Working...

    Prepare a detailed Balance Sheet and also calculate the following ratios: A) Current Ratio B) Working Capital C) Assets Turnover D) Fixed Assets Turnover E) A/R Turnover F) Debt Ratio $ 2,700 3.270 Supplies. Prepaid insurance Accumulated depreciation Equipment Long-term notes payable. 1,500 6,400 . . $ 1,080 845 7,000 3,000 5,205 2,900 Service fees eamed... . 62,400 15,000 33,400 4,700 3,250 720 $79,530 $79,530

  • 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...

  • Problem #3 XYZ Company Adjusted Trial Balance Debit Credit Cash $ 19,800 Accounts receivable 5,250 Supplies...

    Problem #3 XYZ Company Adjusted Trial Balance Debit Credit Cash $ 19,800 Accounts receivable 5,250 Supplies 5,300 Prepaid Advertising 3,000 Trucks 30,300 Accumulated depreciation - Trucks Equipment 7,600 Accumulated depreciation - Equipment Accounts payable Unearned service fees S 10,000 2,100 1.200 6,700 20,000 16,050 12,000 90,000 29,800 Common Stock Retained carnings Dividends Service fees earned Wages expense Rent expense Insurance expense Supplies expense Advertising expense Depreciation expense - Trucks Depreciation expense - Equipment 10,200 4,900 5,100 8,000 4,000 800 $146,050...

  • Debit Credit Cash $6,850 Accounts Receivable 7,000 Supplies 1,982 Prepaid Insurance 3,180 Equipment 15,000 Accounts Payable...

    Debit Credit Cash $6,850 Accounts Receivable 7,000 Supplies 1,982 Prepaid Insurance 3,180 Equipment 15,000 Accounts Payable $ 4,245 Unearned Service Revenue 5,200 Common Stock 21,982 Service Revenue 8,300 Salaries and Wages Expense 4,000 Rent Expense 1,715 $39,727 $39,727 In addition to those accounts listed on the trial balance, the chart of accounts for Richard also contains the following accounts: Accumulated Depreciation Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. Supplies on...

  • Cash Accounts receivable Prepaid insurance Supplies inventory Trial balance Financial Statements Statement of Income Balance Sheet...

    Cash Accounts receivable Prepaid insurance Supplies inventory Trial balance Financial Statements Statement of Income Balance Sheet Statement of Cash Flows Trial balance Debits Credits Adjusting entries Debits Credits Adjusted trial balance Debits _ Credits _ Revenue Assets Cash Accounts receivable Prepaid insurance Supplies inventory Computer equipment Accumulated depreciation Total assets Net income + Depreciation - Accounts receivable - Prepaid insurance - Supplies + Accounts payable Cash from operations Computer equipment Accounts payable Notes payable Common stock Accounts Cash Accounts receivable...

  • Cash Supplies Prepaid Insurance Land Equipment Accumulated Depreciation Equipment Accounts Payable Uneamed Service Revenue Mortgage Payable...

    Cash Supplies Prepaid Insurance Land Equipment Accumulated Depreciation Equipment Accounts Payable Uneamed Service Revenue Mortgage Payable Common Stock Retained Earnings, Sept. 1, 2020 Dividends Service Revenue Salaries and Wages Expense Maintenance and Repairs Expense Advertising Expense Utilities Expenses Property Tax Expense Interest Expense Trial Balance Debit Credit 39,360 20.560 31.900 86.920 126.920 38,160 16.560 3.160 53.920 116.620 2.000 14,000 283,420 108.540 32,460 9,400 18.860 18.460 6,460 513.840 511,840 Adjusted Trial Balance Debit Credit 39,360 4,071 4,075 86.920 126,920 40.530 16,560...

  • WILDHORSE CO. Trial Balance August 31, 2022 Cr. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated...

    WILDHORSE CO. Trial Balance August 31, 2022 Cr. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense Before Adjustment Dr. Cr. $10,000 8,720 2,850 4,370 15,160 $3,411 5,190 0 1,840 16,110 5,130 2,760 33,930 12,430 16,940 0 17,241 0 0 $78,041 $78,041 After Adjustment Dr. $10,000 9,400 1,230 3,120 15,160...

  • Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance Supplies 4,700 42,650 7,950 2,170 125,420 306,260...

    Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance Supplies 4,700 42,650 7,950 2,170 125,420 306,260 Land 153,250 Building Accumulated Depreciation--Building Equipment Accumulated Depreciation-Equipment Accounts Payable 150,720 109,150 13,370 7,590 325,800 Unearned Rent 16,630 361,430 Suzanne Emerson, Capital Suzanne Emerson, Drawing Fees Earned Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 215,410 47,350 25,300 19,160 6,870 970,590 970,590 The data needed to determine year-end adjustments are as follows: • Unexpired insurance at October 31, $5,330. •...

Free Homework App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
Share Your Knowledge

Post an Article
Post an Answer
Post a Question with Answer

Self-promotion: Authors have the chance of a link back to their own personal blogs or social media profile pages.