6. ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT Cash Supplies Prepaid Insurance Equipment 5,710.00 209.00 8. 9. 1,123.00 10 5,731.00 Accumulated Depreciation, Equipment 1,444.00 1,841.00 4,302.00 11 12 Accounts Payable 13 G. Ho, Capital 14 G. Ho, Drawing 2,400.00 Consulting Revenue Rent Expense Wages Expense 15 13,060.00 16 2,200.00 17 1,828.00 422.00 230.00 18 Supplies Expense 19 Miscellaneous Expense 20 21 Insurance Expense 22 Depreciation Expense, Equipment 23 Wages Payable 24 325.00 835.00 366.00 5,840.00 13,060.00 15,173.00 7,953.00 25 Net Income 7,220.00 13,060.00 7,220.00 15,173.00 26 13,060.00 15,173.00 27 Sheet1 Sheet2 Sheet3

6. ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT Cash Supplies Prepaid Insurance Equipment 5,710.00 209.00 8. 9. 1,123.00 10 5,731.00 Accumulated Depreciation, Equipment 1,444.00 1,841.00 4,302.00 11 12 Accounts Payable 13 G. Ho, Capital 14 G. Ho, Drawing 2,400.00 Consulting Revenue Rent Expense Wages Expense 15 13,060.00 16 2,200.00 17 1,828.00 422.00 230.00 18 Supplies Expense 19 Miscellaneous Expense 20 21 Insurance Expense 22 Depreciation Expense, Equipment 23 Wages Payable 24 325.00 835.00 366.00 5,840.00 13,060.00 15,173.00 7,953.00 25 Net Income 7,220.00 13,060.00 7,220.00 15,173.00 26 13,060.00 15,173.00 27 Sheet1 Sheet2 Sheet3

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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stion 5 USING THE FOLLOWING DATA, CALCULATE THE CURRENT RATIO (X): TAKE ANSWER OUT TO ONE PLACE AFTER THE DECIMAL accounts payable 15 merchandise inventory 30 +-- 22 --- 51 accounts receivable medical supplies 9 long term notes payable nursing revenue : 50 -- - 6. + - - 4 4 accumulated depreciation -blg 4 prepaid rent expense amortization expense property taxes payable building 60 pension obligation : 27 8' transportation expense 9 bonds payable 115 unearned nursing income 24 cash 1. Zorro, capital 39 depreciation expense : 18 7. Zorro, withdrawals marketable securities A Moving to the next question prevents changes to this answer. MacBook Air 3.
8-17: Find the total deposit for problems 8-17. Currency Fives 8 ol. SEEI63 HODEC 9 10 11 Tens 12 12 32 10 1 67 11 9 12 16 3 13 133 19 Ones 9 15 6 7 4 27 Coins Half Quarters Dimes Dollars 11 9 0 3 13 34 18 32 7 12 11 62 0 0 8 17 3 319 Nickels 0 0 2 13 7 99 Pennies 0 0 0 5 31 154 Checks 96.23 6.51 43.44 168.14 777.50 123.19 Total $290.23
Total value of advances after adjustments will be: a. OMR 145,500 b. OMR 117,000 c. OMR 115,500 d. OMR 130,500 Total non-interest expenses of OMR 69,750 of a bank will be recorded under: a. Note: 15 b. Note: 14 c. Note: 13 d. Note: 16 Outstanding salary of OMR 1,500 will be: a. Added with salaries in income statement and recorded under liability side of the statement of financial position b. Deducted with salaries in income statement and recorded under asset side of the statement of financial position c. Deducted with interest income in income statement and recorded under asset side of the statement of financial position d. Added with interest expenses in income statement and recorded under asset side of the statement of financial position
Prepare the closing entries Cash P4,650Accounts Receivables 5,200Supplies 640Accounts Payable P2,500Unearned Revenue 200Capital 5,000 Drawings 2,000Miscellaneous Expense 400Service Revenue 7,640Salaries Expense 1,650Representation Expense 350Supplies Expense 3,050Salaries Payable 600
Ergonomics Supply Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 27,000 shares of preferred 2% stock, $100 par, and 600,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: July 1. Issued 213,000 shares of common stock at par for cash. 1. Issued 400 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Aug. Issued 69,400 shares of common stock in exchange for land, buildings, and equipment with fair market 7. prices of $149,100, S505,120 and $164,700 respectively. Sept. 20. Issued 17,600 shares of preferred stock at $105 for cash. Required: Journalize the transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a…
Account Debits Credits Time left 1:10:40 Cash at Bank 60,00 62,000 42,000 194,000 310,000 Accounts Receivable Prepaid Rent Inventory Equipment Accumulated Depreciation - Equipment 140,000 Land 340,000 Accounts Payable 102,000 Unearned revenue 68,000 Mortgage Loan 370,000 Capital Drawings 340,000 80,000 Sales Revenue 540,000 Fee Revenue 60,000 Depreciation Expense Electricity Expense Rent Expense Wages Expense TOTALS 110,000 90,000 130,000 202,000 1,620,000 1,620,000 From the Adjusted Trial Balance provided on the previous page prepare the appropriate Closing Journal entries for the year ended 30 June 2020
#8 Item Prior year Current year Accounts payable 8,118.00 7,921.00 Accounts receivable 6,037.00 6,546.00 Accruals 991.00 1,310.00 Cash ??? ??? Common Stock 11,601.00 12,956.00 COGS 12,736.00 18,335.00 Current portion long-term 5,077.00 4,951.00 debt Depreciation expense 2,500 2,817.00 Interest expense 733 417 Inventories 4,286.00 4,812.00 Long-term debt 14,771.00 13,457.00 Net fixed assets 51,237.00 54,139.00 Notes payable 4,325.00 9,906.00 Operating expenses (excl. 13,977 18,172 depr.) Retained earnings 28,135.00 30,497.00 Sales 35,119 47,877.00 Таxes 2,084 2,775 What is the firm's cash flow from financing? Submit Answer format: Number: Round to: 0 decimal places.
Do the posting t-accounts
CHART OF ACCOUNTS 101 Cash 401 Service Revenue 211 Notes Payable 212 Accounts Payable 451 Rent Revenue 111 Notes Receivable 214 Interest Payable 491 Interest Revenue 112 Accounts Receivable 114 Interest Receivable 216 Wages Payable 511 Depreciation Expense 125 Supplies 261 Unearned Revenue 513 Insurance Expense 130 Prepaid Insurance 311 Common Stock 515 Rent Expense 320 Retained Earnings 517 Wages Expense 519 Supplies Expense 132 Prepaid Rent 161 Equipment 162 Accumulated Depreciation 591 Interest Expense Corporation purchased equipment on July 1 and gave an 18-month, 10% interest-bearing note with a face value of $45,000. Depreciation will be for 10 years using the straight-line method. The December 31 depreciation adjusting entry would be: Date Enter Account Number Debit Credit XX/XX/XX Would this adjusting entry be reversed? (Y for Yes or N for No)
A Accounts Payable AA Losses due to fire B Accounts Receivable BB Merchandise Inventory E Accumulated Depreciation—Equip EE Notes Payable F Allowance for Doubtful Accounts FF Payroll Tax Expense G Bad Debt Expense GG Premium on Bonds Payable H Bonds Payable HH Prepaid Insurance I Building II Prepaid Rent J Capital Lease Payable JJ Rent Expense K Cash KK Rent Revenue L Cost of Goods Sold LL Retained Earnings M Depreciation Expense MM Salaries and Wages Expense N Discount on Bonds Payable NN Salaries and Wages Payable O Dividends OO Sales Commission Expense P Equipment PP Sales Commission Payable Q Fed Income Tax Payable QQ Sales Returns R Fed Unemployment Tax Payable RR Sales Revenues S FICA Taxes Payable SS Sales Taxes Payable T Income Summary TT Service Revenue U Insurance Expense UU State Income Tax Payable V Interest Expense VV State Unemployment Tax Payable W Interest Payable WW Supplies X Interest Receivable XX Supplies Expense Y…
TI-83 graphing calculator
nterest on loans 1036 Interest on cash credits 892 Discount on bills discounted 780 Interest on overdrafts 216 Interest on savings Bank 440 Interest on fixed deposits 1100 From the above information, the total amount of interest earned and the interest expended will be: a. Interest earned RO: 1824, Interest expended RO: 2640 b. Interest earned RO: 2624, Interest expended RO: 1560 c. Interest earned RO: 2924, Interest expended RO: 1540 d. Interest earned RO: 2824, Interest expended RO: 1640