2019202020192020ash$1,000$1,400Accounts payable$4,100$4,800.ccounts receivable$8,000$2,400Utilities payable$2,600$2,500iventory$16,000 $24,000Salaries payable$5,500$8,200repaid rent$1,200$1,500Notes payable$24,000$30,000quipment$40,000 $40,000Interest payable$2,000$2,400.ccum. depreciation($6,000) ($7,500)Common stock$20,000$20,000and$5,000 $11,000Retained earnings$7,000$4,900$65,200 $72,800$65,200$72,800$26,000 was paid in dividends during 2020 and there was a loss on land sale of $3,000, how much'as net income from operations?$20,900$23,900$23,000$26,900None of the above

please like the answer your response matters Calculate net income Beginning retained earnings…

2019 2020 2019 2020 ash $1,000 $1,400 Accounts payable $4,100 $4,8C Lccounts receivable $8,000 $2,400 Utilities payable $2,600 $2,50 nventory $16,000 $24,000 Salaries payable $5,500 $8,20 repaid rent $1,200 $1,500 Notes payable $24,000 $30,00 quipment $40,000 $40,000 Interest payable $2,000 $2,40 Lccum. depreciation ($6,000) ($7,500) Common stock $20,000 $20,00 and $5,000 $11,000 Retained earnings $7,000 $4,9C $65,200 $72,800 $65,200 $72,8C $26,000 was paid in dividends during 2020 and there was a loss on land sale of $3,000, how much as net income from operations? O $20,900 O $23,900 $23,000 O $26,900 O Non e of the above

2019 2020 2019 2020 ash $1,000 $1,400 Accounts payable $4,100 $4,8C Lccounts receivable $8,000 $2,400 Utilities payable $2,600 $2,50 nventory $16,000 $24,000 Salaries payable $5,500 $8,20 repaid rent $1,200 $1,500 Notes payable $24,000 $30,00 quipment $40,000 $40,000 Interest payable $2,000 $2,40 Lccum. depreciation ($6,000) ($7,500) Common stock $20,000 $20,00 and $5,000 $11,000 Retained earnings $7,000 $4,9C $65,200 $72,800 $65,200 $72,8C $26,000 was paid in dividends during 2020 and there was a loss on land sale of $3,000, how much as net income from operations? O $20,900 O $23,900 $23,000 O $26,900 O Non e of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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2019 2020 2019 2020 Cash $2,200 $1,000 Accounts payable $3,100 $2,800 Accounts receivable $4,600 $8,200 Utilities payable $1,100 $1,800 Inventory $3,100 $7,200 Wages payable $500 $1,600 Prepaid insurance $800 $1,600 Notes payable $14,000 $16,000 Equipment $36,000 $36,000 Interest payable $2,000 $3,200 Accum. depreciation ($14,000) ($15,200) Common stock $9,000 $9,000 Land $7,600 $10,200 Retained earnings $10,600 $14,600 $40,300 $49,000 $40,300 $49,000 How much were fınancing cash flows during 2020 if net income was $87,000? $2,000 $89,000 ($81,000) O ($83,000) None of the above
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2019 2020 2019 2020 Cash $2,200 $1,000 Accounts payable $3,100 $2,800 Accounts receivable $4,600 $8,200 Utilities payable $1,100 $1,800 Inventory $3,100 $7,200 Wages payable $500 $1,600 Prepaid insurance $800 $1,600 Notes payable $14,000 $16,000 Equipment $36,000 $36,000 Interest payable $2,000 $3,200 Accum. depreciation ($14,000) ($15,200) Common stock $9,000 $9,000 Land $7,600 $10,200 Retained earnings $10,600 $14,600 $40,300 $49,000 $40,300 $49,000 How much was cost of goods sold in 2020 if $51,000 was paid to suppliers? $50,700 $46,600 O $55,100 $46,900 None of the above
2019 2020 2019 2020 Cash $2,200 $1,000 Accounts payable $3,100 $2,800 Accounts receivable $4,600 $8,200 Utilities payable $1,100 $1,800 Inventory $3,100 $7,200 Wages payable $500 $1,600 Prepaid insurance $800 $1,600 Notes payable $14,000 $16,000 Equipment $36,000 $36,000 Interest payable $2,000 $3,200 Accum. depreciation ($14,000) ($15,200) Common stock $9,000 $9,000 Land $7,600 $10,200 Retained earnings $10,600 $14,600 $40,300 $49,000 $40,300 $49,000 How much were investing cash flows if a plot of land that had been purchased in a prior year was sold during 2020 for $2,00O, which was a $1,500 loss? O $2,000 O ($3,600) O ($6,100) O ($4,100) O None of the above
September 30 2022 2021 Accounts receivable for member dues $19,400 $12,900 Unearned sales revenue 20,200 27,000 Service revenue (from member dues) 147,800 135,300 Dues are billed to members based upon their use of the club’s facilities. Unearned sales revenues arise from the sale of tickets to events, such as the Skins Game.(Hint: You will find it helpful to use T-accounts to analyze the following data. You must analyze these data sequentially, as missing information must first be deduced before moving on. Post your journal entries as you progress, rather than waiting until the end.) Prepare journal entries for each of the following events that took place during 2022. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. Dues receivable from…