Typewritten for an upvote. No upvote for handwritten. Please skip if you have already done this. Thank you Learning Task 4: Prepare the financial statements of the given problem...52,000Accounts Payable38,000Accounts Receivable1,200Accrued Interest Expense8,000Accumulated Depreciation StoreEquipmentAdvertising Expense25,000Allowance for Bad Debts2,300Bad Debts Expense1.100Cash21,000Depreciation Expense - Store Equipment4,000Freight in2,700Freight-out2,200Insurance Expense18.000Interest Expense4,400Kitty, Capital66,700Kitty, Drawing12,0003855Merchandise Inventory, January 143.000SEVES RABIESMerchandise Inventory, December 3147,000CONSNotes Payable (due June 30, 2018)100,000Prepaid Rent60,000Purchase Returns and Allowances1,500Purchases295,000Salaries Expense140,000Sales470,000Sales Discount3.000Store Equipment40,0002014TOOLSTVOnStore Supplies3.600AMORA RStore Supplies Expense2,700Unearned Sales Revenue14,000Required: Based on the account balances listed above, prepare the following for HelloTrading:(a) Multiple Income Statement for the year ended December 31, 2015(b) A Statement of Changes in Owner's Equity for the year ended Dec 31, 2015(c) A report-form Statement of Financial Position/Balance Sheet as of Dec 31, 2015.

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Learning Task 4: Prepare the financial statements of the given problem... 52,000 Accounts Payable Accounts Receivable 38,000 Accrued Interest Expense 1,200 Accumulated Depreciation - Store Equipment 8,000 Advertising Expense 25,000 Allowance for Bad Debts 2,300 Bad Debts Expense 1,100 Cash 21,000 1672 Depreciation Expense - Store Equipment 4,000 Freight-in 2,700 Freight-out 2,200 Insurance Expense 18,000 Interest Expense 4,400 Kitty, Capital 66,700 Kitty, Drawing 12,000 Merchandise Inventory, January 1 43,000 Merchandise Inventory, December 31 47.000 Notes Payable (due June 30, 2018) 100,000 Prepaid Rent 60,000 Purchase Returns and Allowances 1,500 Purchases 295,000 Salaries Expense 140,000 Sales 470,000 Sales Discount 3,000 Store Equipment 40,000 Store Supplies 3.600 Store Supplies Expense 2,700 Unearned Sales Revenue 14,000 WHENLAN

Learning Task 4: Prepare the financial statements of the given problem... 52,000 Accounts Payable Accounts Receivable 38,000 Accrued Interest Expense 1,200 Accumulated Depreciation - Store Equipment 8,000 Advertising Expense 25,000 Allowance for Bad Debts 2,300 Bad Debts Expense 1,100 Cash 21,000 1672 Depreciation Expense - Store Equipment 4,000 Freight-in 2,700 Freight-out 2,200 Insurance Expense 18,000 Interest Expense 4,400 Kitty, Capital 66,700 Kitty, Drawing 12,000 Merchandise Inventory, January 1 43,000 Merchandise Inventory, December 31 47.000 Notes Payable (due June 30, 2018) 100,000 Prepaid Rent 60,000 Purchase Returns and Allowances 1,500 Purchases 295,000 Salaries Expense 140,000 Sales 470,000 Sales Discount 3,000 Store Equipment 40,000 Store Supplies 3.600 Store Supplies Expense 2,700 Unearned Sales Revenue 14,000 WHENLAN

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 2R: Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas...

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in CengageNOWv2| Online teachi x Cengage Learning 8-1 Problem Set: Module Eight X how.comn/akeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=D&inprogress3false eBook Show Me How Changes in Current Operating Assets and Liabilities-Indirect Method Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $15,300 Inventory 66,500 67,200 Accounts payable 20,100 0098 Dividends payable 000' Adjust net income of $84,200 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. ( Previou: Check My Work レ AD 12
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Learning SE MINDTAP evo/index.html?deploymentid=60338517901669990751687760&elSBN=9780357517642&nbld=3626933&snap... ☆ lomework 6300. 1 mancial Lailuialvi vi a spicoubnicel. Hide Feedback Correct X f6 Quantitative Problem 1: You plan to deposit $2,200 per year for 6 years into a money market account with an annual return of 2%. You plan to make your first deposit one year from today. a. What amount will be in your account at the end of 6 years? Do not round intermediate calculations. Round your answer to the nearest cent. 4 b. Assume that your deposits will begin today. What amount will be in your account after 6 years? Do not round intermediate calculations. Round your answer to the nearest cent. 6 Hide Feedback Incorrect F Check My Work Feedback Review the FVAN definition and its equation. Q Search Understand the difference between an ordinary annuity and an annuity due. Be careful about the order of mathematical operations if using the equation. If using a financial calculator, be…
Export PDF as long image without watermark Export FUNDAMENTALS OF ACCOUNTANCY BUSINESS AND MANAGEMENT 2 Self-Learning Activity 9 Name Year/Block: Date Direction: Write your answers on the space provided at the back of this Self Learning Activity. Learning Objective: After reading the module, the learners shall be able to: 4. Describe the nature of a bank reconciliation statement. 5. Identify common reconciling items and describe each of them. 6. Analyze the effects of the identified reconciling items. Reference: Quarter 1 Module 9 – Fundamentals of Accountancy, Business and Management 2 LEARNING ACTIVITY 9:1 Presented hereunder are the details of your Cash Receipts Journal, Cash Disbursements Journal and the Bank Statement of Banco de Oro. Cash Receipts Journal O.R. Number Amount Payor Odessa Alera Date 0001 P 30,000 June 3 0002 0003 20,000 5,000 20 Arnold Navales 29 Juanita Nambatac 0004 10,000 30 Kyle Jamora Cash Disbursements Journal Check Number Amount Payee Star 5 Grocery DX…
For elementary accounting class
este X * CengageNOww2 | Online teachin x : Cengage Learning genow.com.filrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=8inprogress=false еВook Show Me How Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $969,000 and sales for the year total $10,990,000. a. The allowance account before adjustment has a credit balance of $13,100. Bad debt expense is estimated at 1/4 of 1% of sales. b. The allowance account before adjustment has a credit balance of $13,100. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $41,900. C. The allowance account before adjustment has a debit balance of $4,600. Bad debt expense is estimated at 3/4 of 1% of sales. d. The allowance account before adjustment has a debit balance of $4,600. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $38,200. Determine the amount of the adjusting…
Digital Learning * CengageNOwv2 | Online teachir * Cengage Learning + Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false A eBook Show Me How Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $555,000; Allowance for Doubtful Accounts has a credit balance of $5,000; and sales for the year total $2,500,000. Bad debt expense is estimated at 1/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable 24 Allowance for Doubtful Accounts Bad Debt Expense %24 c. Determine the net realizable value of accounts receivable. Feedback Check My Work a. Remember that since accounts receivable are created by credit sales, uncollectible accounts çan be estimated as a percent of credit sales. If the portion of credit sales to sales id relatively constant, the…
QHorngre X G horngre X End of Chapter: Accounting and the Business Environment d:course:7710589/products/79c3fa4c-a84f-42ba-b87a-e36a400bca00/pages/urn:pearson Problems Group A P-F:1-41A. Using the accounting equation for transaction analysis (Learning Objective 4) ASSETS Meg McKinney opened a public relations firm called Solid Gold on August 1, 2024. The following amounts summarize her business on August 31, 2024: TutorM X | G horngre Cash + Accounts + Office + Land Receivable Supplies $0 Bal. $1,900 + $3.200 + transactions: +$15,000 LIABILITIES + Contributed Capital + Accounts + Common Stock Payable $5,000 $11.900 - EQUITY During September 2024, the business completed the following Retained Earnings Dividends & Service Rent - Advertising Revenue Expense Expense + $3,200 a. Received contribution of $17,000 cash from Meg McKinney in exchange for common stock. b. Performed service for a client and received cash of $800. c. Paid off the beginning balance of accounts payable. d. Purchased…
gage Learning * CengageNOWv2 | Online teachin x Cengage Learning ignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Show Me How Estimating Allowance for Doubtful Accounts Evers Industries has a past history of uncollectible accounts, as follows. Age Class Percent Uncollectible Not past due 1 % 1-30 days past due 31-60 days past due 12 61-90 days past due 30 Over 90 days past due 75 Estimate the allowance for doubtful accounts, based on the aging of receivables information provided in the chart below. Evers Industries Estimate of Allowance for Doubtful Accounts Not Past Days Past Days Past Days Past Days Past Due 1-30 Due 31-60 Due 61-90 Due Over 90 Balance Due Total receivables 1,124,500 607,400 233,000 121,600 96,500 66,000 1% 3% 12% 30% 75% Percentage uncollectible Allowance for doubtful accounts Check My Work All work saved. Email Instructor Save and Exit Su
Preparing a spreadsheet