Talbridge Ltd. had the following account balances at December 31, 2021: Account Name Repairs expense Wages expense Prepaid expenses Dividends Purchase of intangibles Cash (end of year) Deferred revenue Owners' capital Accounts payable Prepaid insurance Collections from customers Rent expense Contributions by owners Accounts receivable Payment of dividends Website design Service revenue Cash received from debt Income tax expense Office supplies Office supplies expense Payments to suppliers Amount $1,125 21,350 2,500 17,155 Cash (beginning of year) 16,890 Retained earnings (beginning of year) 8,575 Interest expense 900 Business licence 60 Bank loan payable, due in 2025 Website expense Income tax payable 1,400 3,500 1,360 36,385 1,500 12,000 12,810 900 28,350 2,100 3,500 1,300 47,560 12,500 4,450 2,550 1,845 18,995 12,500 500 575

Talbridge Ltd. had the following account balances at December 31, 2021: Account Name Repairs expense Wages expense Prepaid expenses Dividends Purchase of intangibles Cash (end of year) Deferred revenue Owners' capital Accounts payable Prepaid insurance Collections from customers Rent expense Contributions by owners Accounts receivable Payment of dividends Website design Service revenue Cash received from debt Income tax expense Office supplies Office supplies expense Payments to suppliers Amount $1,125 21,350 2,500 17,155 Cash (beginning of year) 16,890 Retained earnings (beginning of year) 8,575 Interest expense 900 Business licence 60 Bank loan payable, due in 2025 Website expense Income tax payable 1,400 3,500 1,360 36,385 1,500 12,000 12,810 900 28,350 2,100 3,500 1,300 47,560 12,500 4,450 2,550 1,845 18,995 12,500 500 575

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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H1.
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