COUNTRYSIDE PAINTING SPECIALISTS Trial Balance November 30, 2018 Balance Account Title Debit Credit Painting Equipment $ 13,500 Cash 12,100 Accounts Receivable 1,300 Advertising Expense 550 Cividends S 3,500 Accounts Payable 3,300 Rent Expense 1,800 Common Stock 15,000 Service Revenue 15,600 Unearned Revenue 1,700 Salaries Expense 2,400 Office Supplies 200 Utilities Expense 250 Total $ 48,600 $ 22,600
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Correcting errors in a
The accountant for Countryside Painting Specialists is having a hard time preparing the trial balance as of November 30, 2018:
Prepare the corrected trial balance as of November 30, 2018. Assume all amounts are correct and all accounts have normal balances.
![COUNTRYSIDE PAINTING SPECIALISTS
Trial Balance
November 30, 2018
Balance
Account Title
Debit
Credit
Painting Equipment
$ 13,500
Cash
12,100
Accounts Receivable
1,300
Advertising Expense
550
Cividends
S 3,500
Accounts Payable
3,300
Rent Expense
1,800
Common Stock
15,000
Service Revenue
15,600
Unearned Revenue
1,700
Salaries Expense
2,400
Office Supplies
200
Utilities Expense
250
Total
$ 48,600
$ 22,600](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd1742277-2ea7-4e89-b5d6-c2247547f7e2%2F3391d6f5-df74-4d00-b05d-ed0e72433022%2Fgol1g0p.png&w=3840&q=75)
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- gageNOWv2 | Online teachin x zakeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator%3&inprogress3false Equipment with an estimated market value of $29,889 is offered for sale at $48,377. The equipment is acquired for $14,472 in cash and a note payable of $21,295 due in 30 days. The amount used in the buyer's accounting records to record this acquisition is Oa. $35,767 Ob. $44,361 Oc. $29,889 Od. $14,472 Next Previous 3:37 AM 5/9/20227-2 Project: Company Accour x 121. Project Guidelines and Rubric x 121. 7-1 Problem Set: Module Sev X CengageNOWv2 | Online tea now.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator3D&inprogress3false eBook Show Me How Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $224,540 Interest expense 39,620 Average total assets Determine the return on total assets. If required, round the answer to one decimal place. 1.8 Check My Work Divide the sum of net income and interest expense by average total assets. Previa Check My Work ADE dyO NWP Assessiment Player U Appli X education.wiley.com/was/u/v2/assessment-player/indehtmi?launchid=18601d98-edio 4163-98b4-b319630510e/question/8 Hw 1 Question 9 of 9 View Policies Current Attempt in Progress The following information relates tD Cullumber Weigel Co, for the year 2020. Retained earnings, January 1.2020 147,000 Advertsing pense $6.300 Dividends paid during 2020 21.000 Rentepensd 36,400 Service revenue 222,600 Ualities expense 10,850 Salaries and wages expense 105.700 Other conpréhensive income 1610 After analyzing the data, prepare an income staterment for the year 2020, CULLUMBER WEIGEL CO. Income Statement e here to search DOLL F12 Hom SysR F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 144 @ 23 & 2 3 4 6 7 9 W E R T Y U P 4 5 6
- Account$ 51,000Accounts payable$33, 700 Land Notes payable49,000Accounts receivable 71, 2000perating expenses 102,000Building86, 500Prepaid insurance3.100Cash3, 200Service revenue172.000Equipment35, 700Unearned revenue 3,000J. Koizumi, capitalJ. Koizumi, drawings99, 0004, 000(c) Determine the amount overKoizumi Kollections has the following alphabetical list of accounts and balances at July 31. 2017:Question 1The following information was extracted from the financial statement of Barryfor the year ended 31 December 2020. RMSales 437,500Opening inventories 17,500Closing inventories 26,250Cost of sales 262,500Other income 3,750Expenses 61,250Current liabilities 47,250Trade receivables 39,375Bank 8,750Cash 31,500Required:(a) Show the formulae and compute the value of the following for Barry:(i) Purchases(ii) Gross profit(iii)Net ProfitLoans and borrowings Deferred taxek liability 14,130 10,220- 1,010 960- 15,140 11,180 Current Liabilities Trade payable Current tax 1,260 1,140 1,040 920 payable Interest payable 980- 740k 3,280 40,190 2,800 32,960 Total Equity and Liabilities 2019 £'000 2018 £'000 Sales Cost of sales Distribution costse Administration expenses Gain on disposal of PPE 22,000 (11,800) (3,100) (1,630) 280 16,000 (8,200) (2,600) (1,420) Interest expensee a Тах еexpensee (1,140) (1,820) (760) (1,240) Net profit 2,790 1,780 1. The company disposal of PPE during the year with a book value of £1,000,000. 2. Depreciation of property, plant and equipment for the year was £650,000.4 The intangibles were acquired for cash towards the end of the year and were not sub ject to any amortisation in the current period.e 3. Prepare the statement of cash flows using the indirect method.
- ाथ सल्गाने मा DeeBl, 2021 feliowing Andormiom for Coder BisterPriss is gren belows: bolow: Plan assets (at fair valve) Projecked bonefil obligalion Accmulated other comfrchensive doss $ 1,600, 000 1,200,000 503,700 The The everoge remabing bevwice dife of emluyee is lo yenrs. The amortizahing of Accuhul fed other ComPre hessive lass for ror 2022, usingthe Corridor methad, 1B.. ? CS Scanned with CamScannerSCORE: SECTION: PROFESSOR: Problem #21 Preparation of Financial Statements 2019: Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Allowance for Uncollectible Accounts Cash Calamba, Capital Calamba, Drawing Equipment Transportation In General Expenses (control) Interest Expense Merchandise Inventory, December 31 Notes Payable Prepaid Insurance P 677,820 545,070 462,870 18,790 132,310 612,000 326,400 753,150 224,880 149,390 35,000 1,320,420 299,000 7,350 5,407,160 43,050 259,600 499,600 Purchases Purchases Discounts Purchases Returns and Allowances Santiago, Capital Santiago, Drawing Sales Sales Returns and Allowances 244,800 7,155,000 375,750 385,880 Selling Expenses (control) There were no changes in the partners' Capital accounts during the year. The merchandise inventory at the beginning of the year was P1,440,590. The partnership agreement provides for salary allowances of P330,000 for Calamba and P290,000 for Santiago. It also stipulates an interest allowance…Mary JaneTrial Balance as at 30 September 2012Account Dr. Cr.$ $Cash 9,415Bank 39,355Sales 17,085Purchases 9,000Returns in 300Returns out 400Soo Trusty 600Will Pay 1,050Justin Fever 1,500KG Traders 4,000Batta Co. 2,100Capital 20,000Loan 28,500Rent 4,000Fixtures 3,000Wages 2,000Drawings 750Telephone 560Electricity 410Interest 14572,085 72,085 Prepare an Income Statement
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