4. The balance sheet of Dr. Pauline Inaba is shown below. Dr. Pauline Inaba Balance Sheet March 31, 20-- Assets Liabilities Cash $500- A/R-P. Paul 350- A/P-A.B.Associates A/P-Medico Supply A/R - S. Wouke 1 250- Total Liabilities Supplies 3 900- Furniture and 18 320- Owner's Equity Equip. Automobile 21 040- P. Inaba, Capital $1 200- 2 300- $3 500- 41 860- Total Assets $45 360- Total Liabilities & Equity $45 360- Set up the T-Accounts for this business below. Dr. Pauline Inaba Cash A/R - P. Paul A/R-S. Wouke Supplies Furniture & Equipment Automobile

4. The balance sheet of Dr. Pauline Inaba is shown below. Dr. Pauline Inaba Balance Sheet March 31, 20-- Assets Liabilities Cash $500- A/R-P. Paul 350- A/P-A.B.Associates A/P-Medico Supply A/R - S. Wouke 1 250- Total Liabilities Supplies 3 900- Furniture and 18 320- Owner's Equity Equip. Automobile 21 040- P. Inaba, Capital $1 200- 2 300- $3 500- 41 860- Total Assets $45 360- Total Liabilities & Equity $45 360- Set up the T-Accounts for this business below. Dr. Pauline Inaba Cash A/R - P. Paul A/R-S. Wouke Supplies Furniture & Equipment Automobile

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 1E

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The accounting records of Nettle Distribution show the following assets and liabilities as of December 31,2018 and 2019.December 31 2018 2019Cash . . . . . . . . . . . . . . . . . . . . . . . . $ 64,300 $ 15,640Accounts receivable . . . . . . . . . . . 26,240 19,100Office supplies . . . . . . . . . . . . . . . . 3,160 1,960Office equipment . . . . . . . . . . . . . . 44,000 44,000Trucks . . . . . . . . . . . . . . . . . . . . . . . 148,000 157,000December 31 2018 2019Building . . . . . . . . . . . . . . . . . . . . . $ 0 $80,000Land . . . . . . . . . . . . . . . . . . . . . . . . 0 60,000Accounts payable . . . . . . . . . . . . . 3,500 33,500Note payable . . . . . . . . . . . . . . . . . 0 40,000Required1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equityon the balance sheet and remember that total equity equals the difference between assets and liabilities.2. Compute net income for 2019 by comparing total equity amounts for these…
Statement of Owner's Equity; Net LossSelected accounts from the ledger of Restoration Arts for the fiscal year ended April 30, 2019, are as follows:Doug Stone, CapitalDoug Stone, DrawingApril 305,200May 1 (2018)309,100July 311,300April 305,200April 3042,000Oct. 311,300Jan. 311,300April 301,300Prepare a statement of owner's equity for the year.
Se.110.
08. Followings are the Balance Sheet and Receipts and Payments Account of Buddivardaka Library, Sirsi. Balance Sheet as on 31-03-2017 64 Liabilities Assets Outstanding Rent Capital Fund 200 Cash in hand 1,400 23,800 Books 14,000 Furniture 8,000 12 0/S Subscriptions 600 80 24,000 24,000 Receipt and Payment A/C for the year ending 31-03-2018 Cr. Dr. Receipts Payments 2,400 1,400 By Rent 12,000 By Printing 2,000 By Office expenses 1,000 By Books bought (30-09-2017) To Balance b/d 1,200 To Subscriptions 2,800 To Entrance Fees 10,000 To Sale of old newspaper 600 To Sundry Receipts 2,000 4,000 By Investments By Balance c/d To Donations 2,600 21,000 21,000 Adjustments: a) Outstanding rent on 31-03-2018 was ?300 b) Subscriptions receivable for the year 2017-18 amounted to 400 c) Subscriptions received for the year 2018-19 was 7800, d) Half of the entrance fees and half of the donations are to be capitalised, c) Depreciate books at 10% p.a. Prepare: (i) Income and Expenditure Account and (ii)…
For an accessible version, see the Excel spreadsheet. Locate the formula in the textbook and calculate the 2022 Profit Margin Ratio (Profitability). Fill in the numerator and denominator using the financial statements provided (no symbols or commas) and the answer should be in a XX.XX% format: Blank 1; ÷ Blank 2; = Blank 3 % Blank 1 Blank 2 Blank 3 Add your answer https://multimedia.phoenix.edu/cms/202337987 Add your answer Add your answer
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The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:Dec 31 20Y9 Dec 31 20Y8ASSETSCash $ 70,720 $ 47,940Accounts Receivable 207,230 188,190Inventories 298,520 289,850Investments - 102,000Land 295,800 -Equipment 438,600 358,020Accumulated Depreciation-Equipment (99,110) (84,320)Total Assets $ 1,211,760 $ 901,680LIABILITIES AND STOCKHOLDERS' EQUITYAccounts Payable $ 205,700 $ 194,140Accrued Expenses Payable (operating expenses) 30,600 26,860Dividends Payable 25,500 20,400Common Stock, $1 par 202,000 102,000Paid-in Capital; Excess of issue price over par-common stock 354,000 204,000Retained Earnings 393,960 354,280Total Liabilities and Stockholders Equity: $ 1,211,760 $ 901,680Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:A. Equipment and land were acquired for cashB. There were no disposals of equipment during the year.C. The investments were sold for $91,800 cash.D. The common stock was…
A-E is either going to be: Account Accounts receivable Asset Classified balance sheet Creditors Equality Ledger Payable Three
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