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…
aves B D SDJ, Inc., has net working capital of $2,710, current liabilities of $3,950, and inventory of $3 420 What is the current ratio? What is the quick ratio? Net working capital $ 2,710 Current liabilities Inventory $ 3.950 $ 3.420 Complete the following analysis. Do not hard code values in your answers. 15 Current assets 16 17 Current ratio 15 Quick ratio 20 Home End
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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)…
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Please try to answer accurately and accordance with requirements.Thank you!The general ledger of Emerates Traders Ltd includes the following accounts as at 30 June 2018:$000Sales Revenue 8,280Dividend Received 126Interest Received 65Cost of Sales 1,105Selling and Distribution expenses 450Administration expenses 1,550Finance costs 16Valuation loss on trading investments (considered a material item) 250Income tax expense charged to profit and loss 1,500Expenses classified by nature include:Auditors Remuneration:Audit of accounts 20Information technology controls advice 5 25Depreciation expense:Buildings 120Plant and Equipment 225 345Additional InformationThe valuation loss on investments held for trading is not tax deductible.Task 4a. Complete a Statement of Comprehensive Income showing expenses classified byfunction on the face of the Income Statement together with notes to the incomestatement including the material item.- Note that Emerates Traders Ltd discloses material items on the…
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Here name Of Come Tue clownsl ie the tiending circue owned by Red Costello. me ledges accomts Of the Jume 30, 20of are listed here in alphabetical order business at preparing a balamce charge in Assets sheet Efects of a Accounts Payable 26,100 Nates payable 180000- Accounts Receivable 450 Notes Peceivable 9500 prope f Equipment 89580 Red costello capital Calaries payable Animals 189060 cages "24630 337230 cash 9750 Costumes 31S00 Tents E Toucks 63000 wagons l05840