Dawson Hair Stylists Adjusted Trial Balance December 31, 2024 Account Title Cash Accounts Receivable Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Print $ Equipment Accumulated Depreciation Equipment Accounts Payable Interest Payable Notes Payable Common Stock Dividends Service Revenue Rent Expense Supplies Expense Depreciation Expense-Equipment Interest Expense Total Done S Balance Debit 900 500 1,600 19,900 $ 19,900 650 Credit $ 1,100 100 1,000 3,600 0056 4 1,100 100 1,000 3,600 9,250 15,700 4,600 800 1,100 700 30,750 $ 30,750

Dawson Hair Stylists Adjusted Trial Balance December 31, 2024 Account Title Cash Accounts Receivable Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Print $ Equipment Accumulated Depreciation Equipment Accounts Payable Interest Payable Notes Payable Common Stock Dividends Service Revenue Rent Expense Supplies Expense Depreciation Expense-Equipment Interest Expense Total Done S Balance Debit 900 500 1,600 19,900 $ 19,900 650 Credit $ 1,100 100 1,000 3,600 0056 4 1,100 100 1,000 3,600 9,250 15,700 4,600 800 1,100 700 30,750 $ 30,750

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 Ending Balances DEBITS CREDITS Cash 17,000 Marketable Securities 2,000 Accounts Rec. 14,000 Allowance for Bad Debt 2,000 Inventory 15,000 Prepaid Insurance 5,000 Land 30,000 Building 150,000 Accumulated Dep. - Building 45,000 Equipment 100,000 Accumulated Dep. - Equipment 20,000 Accounts Payable 9,000 Salaries Payable Unearned Revenue 2,000 Interest Payable Income Taxes Payable 3,000 Note Payable Bonds 100,000 Common Stock 50,000 Additional Pd-in-Capital 80,000 Retained Earnings 22,000 333,000 333,000 Complete the following jounral entries: Salaries are $2,200 per month (12 months of salaries expense must be booked). It is expected that one-half month will be owed on 12/31/20 because of when payday falls (therefore, 11.5 months of salaries have been paid and ½ month is still owed to the employees at year end). $56,000 in cash is borrowed on 9/30/20 by issuing a Note…
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Accounts payable Accounts receivable Accumulated depreciation-buildings Advertising expense Amortization expense (patents) Buildings Cash Common stock Depreciation expense Dividends (10/1/20) Notes payable-due in 2023 Patents (net) Salary expense Sales $ $ $ $ $ $ $ $ $ LA LA LA LA $ $ $ Answer is complete but not entirely correct. Translation 0.16 Current rate 0.16✔ Current rate Current rate 0.16 0.19 0.19✔ 0.16 Average rate Average rate Current rate 0.16 Current rate 0.28✔ Historical rate 0.16 Average rate 0.20✔ Historical rate 0.16 Current rate 0.16 Current rate 0.19 Average rate 0.19 Average rate ✓ $ ✓ $ ✓ $ ✓$ ✓ $ ✓ $ ✓ $ ✓ $ ✓ $ ✓ $ ✓ $ ✓ $ ✓ $ ✓ $ Remeasurement 0.16 X 0.16 X 0.26 X 0.19 X 0.25 X 0.26 X 0.16 X 0.28 x 0.26 X 0.20 x 0.16 X 0.25 X 0.19 X 0.19 X
y courses / BUSS 104-1-20202 / MAKEUP TEST SCHEDULED FOR Thursda E (06-05-2021 from 11:00 to 12: Noon) The XYZ Company had the following income statement on 31.12.2020 Deprecation 5000 Net income 110000 OMR The following accounts decreased during 2020: Accounts receivable 24000 inventory 18000 OMR, Rent payable 15000, Machinery 15000 OMR The following accounts increased during 2020:Notes receivable 14000 Accounts Payable 8000 long term Bonds payable 30000 OMR Calculate cash flows from operating activities Select one: Oa. 149000 OMR O b. NONE OF THESE O c. 136000 OMR O d. 145000 OMR
Required information Exercise 9-21 Complete the accounting cycle using long-term liability transactions (LO9-2, 9-8) [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances: Debit $ 11,700 35,000 152,500 72,300 125,000 Accounts Credit Cash Accounts Receivable Inventory Land Buildings $ 2,300 10, 100 23, 200 205,000 155,900 Allowance for Uncollectible Accounts Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Totals $396,500 $396,500 During January 2021, the following transactions occur: Borrow $105, 000 from Captive Credit Corporation. The installment note bears interest at 6% annually and matures in 5 years. Payments Receive $31, 500 from customers on accounts receivable. January $2,030 are required at the end of ead onth for 6e months. January 4 January Pay cash on accounts payable, $16,000. 10 January Pay cash for salaries, $29,400. 15 January…
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Financial Reporting and Analysis Jul22 Y1 S2 Balances on 28 February 2021 Balance sheet section Vehicles at cost Equipment at cost Inventory Provision for bad debts Nominal accounts section Bad debts telephone Adjustment R 90 000 R 50 000 R 100 000 2 000 O A. R103 500 OB. R93 500 O C. R76 500 O D. R13 500 R R 500 1 500 Annual depreciation on equipment vehicles is calculated at 15% p.a. The carrying value of vehicles at the end of the year is:
27 The following balances were extracted from the books of AL Masa Cleaning Services at 31st December, 2020: Cash BD13900 Accounts Receivable BD2000 - Equipment BD6000 Prepaid Rent BD4000 Accounts Payable BD14000 - Beginning Capital BD16000 Investment during the year BD3200 Withdrawals BD800 Service Revenues BD8300 - Wages Expense BD600 - Utilities Expense BD2500 Supplies Expense BD1100 - Rent Expense BD3300 Fees Income BD2700- Furniture BD10000 Required: Compute ending capital on Dec 31 2020 and show solution steps. *
25 The following balances were extracted from the books of AL Masa Cleaning Services at 31st December, 2020: Cash BD13900 - Accounts Receivable - BD2000 Equipment BD6000 Prepaid Rent BD4000 - Accounts Payable BD14000 - Beginning Capital BD16000 Investment during the year BD3200 Withdrawals BD800 Service Revenues BD8300 - Wages Expense BD600 - Utilities Expense BD2500 Supplies Expense BD1100 - Rent Expense BD3300 Fees Income BD2700 - Furniture BD10000 - Use the previous information to question 25 to question 28: Required: Compute the amount and show solution steps of: 1- Total Revenues 2- Total Expenses *
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Trial Balance as at 30 September 2021 Dr Cr $ $ Equity 2,300,000 Sales 4,281,923 Purchases 1,893,612 Carriage Outwards 43,000 Drawings 15,000 Rent & Rates 96,000 Stationery 25,962 Advertising 100,000 Salaries & Wages 325,711 Returns 5,296 3,481 Bad Debts 33,250 Rent Receivables 100,000 Provision for Depreciation -Building 390,000 -Motor Vehicle 160,000 -Equipment 450,000 Carriage Inwards 56,009 Bank 25,000 Inventory, 1 October 2017 120,000 Equipment – at cost 1,500,000 Building – at cost 2,600,000 Motor Vehicle – at cost 800,000 Land 1,500,000 Commission Receivable 6,200 Discounts 12,693 32,158 Trade receivables 298,730 Trade payables 226,501 Cash 50,000…