Use the information in the ledger accounts.Building70,320LandCash144,000Nov. 884,000Nov. BNov. 840,32014,4001,680Nov. 1Nov. 25Nov. 30Notes PayableVehiclesOffice Equipment114,0009,600Nov. 2514,400Nov. 8Nov. 153,840Nov. 21576Nov. 3011,280Nov. 30Capital StockNov. 1Accounts PayableNov. 21576Νov. 153,840144,000Prepare a trial balance for Avenson Insurance Company dated November 30.AVENSON INSURANCE COMPANYTrial BalanceNovember 30CashLandBuildingOffice equipmentVehiclesNotes payableAccounts payableCapital stockTotal

Assets normally have debit balance. Liabilities and stockholders' equity normally have credit…

Answered: Use the information in the ledger…

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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7
according to information: Question Liabilities OMR Assets OMR Equity share capital 27,800 Furniture 4,000 Accounts Payable 1,550 Cash in hand 4,500 Reserves and surplus 2,550 Bills receivables 3,750 Bills payable 950 Land 9,000 Long term borrowings 6,520 Marketable securities 850 Outstanding Salaries 850 Cash in bank 5,250 Loan from Bank 3,450 Building 6,600 Preference share capital 5,265 Prepaid expenses 850 Bank overdraft 825 Cars & Trucks 3,350 Tax outstanding 590 Account Receivables 1,150 Inventory 2,150 Income earned but not received 430 Machinery 6,250 Equipment 2,220 Total 50,350 Total 50,350 Other information Particulars OMR Sales 330,000 Cost of goods sold 155,000 Administration expenses 33,000 Selling & Distribution exp. 44,000 Interest received…
Problem 2 You are the controller for 21" Century Technologies. Your staff has prepared an income statement for the current year and has developed the following additional information by analyzing changes in the company's balance sheet accounts. 21 Century Technologies Income Statement For the year ended December 31, 2009 Revenue: Net Sales Interest Revenue Gain on sales of marketable securities Costs and expenses: Costs of goods sold Operating expenses (including depreciation of $225 000) Interest expense Income tax expense Loss on sales of plant assets Net Income 4,800,000 60,000 $1,000 2,430,000 1,860,000 63,000 150,000 18,000 390,000 Additional information: 1. Accounts receivable increased by $90 000 2. Accrued interest receivable decreased by $3 000 3. Inventory decreased by $90 000 and accounts payable to suppliers of merchandise decreased by $24 000 4. Short-term prepayments of operating expenses increased by $9 000 and accrued liabilities for operating expenses decreased by $12…
Statement of Cash Flow Preparation Activity Consider the following journal entries: Entry (a) cash $4 %$4 81,000.00 common stock 81,000.00 (b) treasury stock 13,000.00 cash 13,000.00 (c) cash 60,000.00 sales revenue 60,000.00 (d) land 87,700.00 cash 87,700.00 (e) depreciation expense 9,000.00 accumulated depreciation 9,000.00 (f) dividends payable 16,500.00 cash 16,500.00 (g) land 18,000.00 cash 18,000.00 (h) cash 7,200.00 7,200.00 equipment (1) bonds payable cash 45,000.00 45,000.00 (1) building 164,000.00 164,000.00 note payable, long-term (k) loss on disposal of equipment | 1,400.00 equipment, net 1,400.00 Indicate whether each transaction would result in an operating activity, an investing activity, or a financing activity for an indirect method statement of cash flow and the accompanying schedule of non-cash investing and financing activities. Click here to enter text. %24
1. The following accounts appeared on the partial Balance Sheet of Brandy Inc.: Accounts Payable Accounts Receivable $ 5,500 2,300 2,820 3,000 8,140 18,560 18,760 100 Bank Loan Cash Common Stock Inventory Long-term debt Machinery What is the total amount of all assets (rounded to the nearest dollar)?
Identify and explain the components of IT Bank's Balance Sheet?
! Required information [The following information applies to the questions displayed below.] The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: Balance, September 1 September 7 September 11 September 12 September 17 September 26 September 29 September 30 September 1 September 10 September 30 Debit Balance September 30. Balance Checks Total Amount of Cash # 101 # 102 # 103 BANK STATEMENT Deposits $ 810 1,720 2,310 Cash (A) 2,020 3,030 810 2,550 1,720 2,310 50 2,710 $ 3,030 NSF check EFT deposit Service charge Credit Other September 10 September 15. September 22 September 28 # 101 # 102 # 103 # 104 $ 100 155 20 Balance $ 2,020 1,920 4,950 4,140 2,420 110 265 245 No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Company's customers. 4. If the company also has $420…
How much is the ending cash balance?
Required information Skip to question [The following information applies to the questions displayed below.]The August bank statement and cash T-account for Martha Company follow: BANK STATEMENT Date Checks Deposits Other Balance August 1 $ 13,600 August 2 $ 120 13,480 August 3 $ 9,300 22,780 August 4 220 22,560 August 5 160 22,400 August 9 530 21,870 August 10 130 21,740 August 15 3,100 24,840 August 21 220 24,620 August 24 15,500 9,120 August 25 5,650 14,770 August 30 620 14,150 August 30 Interest earned $ 20 14,170 August 31 Service charge 10 14,160 Cash (A) Debit Credit August 1 Balance 13,600 Deposits Checks written August 2 9,300 120 August 1 August 12 3,100 220 August 2 August 24 5,650 160 August 3 August 31 4,100 130 August 4 530 August 5 200 August 15 280 August 17 620 August 18 220 August 19…

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