You can find below a list of accounts and their amounts for DigitalCom Co. The accounts are presented in alphabetical order. Prepare a trial balance for December 31, 2019 and keep the numbers on a side paper (you might need them for answering other questions also). Then answer the question below based on your results. Question: What is the amount of Total Assets in the prepared Trial Balance? Accounts Payable Accounts Receivable Advertising expense Building Capital stock Cash 5,000 3,000 400 18,000 14,100 6,500 1,600 26,000 15,000 31,000 Dividends Land Notes Payable Revenue Retained Earnings Supplies 700 Utilities expense Wage expense Wages Payable 900 13,250 3,050

You can find below a list of accounts and their amounts for DigitalCom Co. The accounts are presented in alphabetical order. Prepare a trial balance for December 31, 2019 and keep the numbers on a side paper (you might need them for answering other questions also). Then answer the question below based on your results. Question: What is the amount of Total Assets in the prepared Trial Balance? Accounts Payable Accounts Receivable Advertising expense Building Capital stock Cash 5,000 3,000 400 18,000 14,100 6,500 1,600 26,000 15,000 31,000 Dividends Land Notes Payable Revenue Retained Earnings Supplies 700 Utilities expense Wage expense Wages Payable 900 13,250 3,050

Name: You can find below a list of accounts and their amounts forDigitalCom
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: You can find below a list of accounts and their amounts forDigitalCom Co. The accounts are presented in alphabetical order.Prepare a trial balance for December 31, 2019 and keep thenumbers on a side paper (you might need them for answering otherques

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

ABC Company began operations in 2020. Review the transactions and determine the amounts asked below. 2020 transactions: 1. $300,000 of credit sales 2. $250,000 customer payments collected on credit sales 3. Wrote off a $2,000 receivable from NotGonnaPay, INC a customer who went into bankruptcy. 4. ABC Company estimates 3% of its Accounts Receivable at 12/31/20 will be uncollectable. *** REQUIRED** Update the TAccounts for: Cash, A/R, Sales, Bad Debt Expense, and ADA. Please include your T Accounts in your PDF Upload. NO WORK = NO CREDIT Journals are not required, but could be helpful in solving the problem. ***REQUIRED*** answer the following as of Dec 31, 2020 Do not enter $ or Canvas will mark wrong. (I will fix later) A) Accounts Receivable balance is $ B) Allowance for Doubtful ACcounts (ADA) balance is $ C) Bad Debt Expense (BDE) balance is $
You work as a freelance accounting professional and have been recently engaged by the auditors of Life-Positive Inc. for an assignment. In examining the company’s records, you have extracted the following information: Life-Positive’s Account Balances 2021 ($) 2022 ($) Accounts Payable 24,600.00 21,250.00 Accounts receivable 15,700.00 12,340.00 Cash 23,450.00 28,600.00 Cost of goods sold 19,700.00 23,000.00 Depreciation 3,090.00 4,590.00 Dividends 5,800.00 10,800.00 Interest 2,340.00 2,890.00 Inventory 7,050.00 8,640.00 Long-term debt 28,000.00 30,000.00 Net fixed assets 41,500.00 48,000.00 Other expenses 2,400.00 2,800.00 Sales 58,000.00 62,500.00 Short-term Notes Payable 2,890.00 2,340.00 Shares outstanding 85,000.00 90,000.00 Note: The tax rate is 32% Required: 1. Prepare a balance sheet for 2021 and 2022 for the company, clearly showing information about…
Required information You did only the t-accounts for the ansewr when i asked before so I was wondering if you would please help me out with the journal entries this time. You can see down there what the last person who helped said. So no t accounts this time just journal entry please. [The following information applies to the questions displayed below.] The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 4,500 Accounts Receivable 9,500 Supplies 3,500 Equipment 36,000 Accumulated Depreciation $ 8,000 Accounts Payable 6,000 Utilities Payable 7,000 Deferred Revenue 0 Common Stock 23,000 Retained Earnings 9,500 Totals $ 53,500 $ 53,500 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services…
Subject: accounting
A manager at Thocc, a business retailing and servicing custom keyboards, needs help with interpreting some of the accounting transactions that took place during the month of January 2022. The manager has provided you with a list of those transactions below. Required: Underneath each transaction in the space provided, write a brief narration describing the economic event that corresponds to that transaction. Date Account titles (Details) Dr ($) Cr ($) 2/1/2022 Cash 3,000 Accounts Receivable 2,500 GST Collected 500 Service Revenue 5,000 Answer here: 15/1/2022 Inventory 10,000 GST Paid 1,000 Accounts Payable 5,500 Cash 5,500 Answer here: 30/1/2022 Accounts Payable 15,000 Bank Loan 15,000 Answer here: 31/1/2022 Rent Expense 2,000 Prepaid…
Need help with accounting homework question ASAP!
Update your trial balance with the following accounts and balances and then answer the questions that f Cash Accounts payable Common stock Rent expense Salaries expense Prepaid rent Supplies Total Debits 139,500 50,000 146,400 35,800 123,100 40,000 30,600 Notes payable Salaries payable Service revenue Accounts receivable Required: 1. What are the total debits and credits on your revised trial balance? Total Credits Advertising expense Retained earnings Dividends 7,600 235,700 147,000 49,900 92,200 10,200 44,200
25 )
Given the ledger accounts of Bastoni Company as of January 31, 2020: Cash $40,500 Accounts Payable $11,000 Supplies 5,200 Rent Expense 4,100 Share Capital-Ordinary 33,200 Accounts 8,700 Receivable Notes Payable 3,500 Service Revenue 10,800 Required: Compute the total of the debit side of the trial balance. (show your computation). 1. Compute the total of the credit side of the trial balance. (show your computation). 2.
PLEASE NOTE THAT ALL THE LETTERS IN THE PICTURE MUST BE ANSWERED, TYSM
A Pre-Closing Trial Balance for Shady Lane Senior Living Center is listed below. From the list of accounts provided, prepare an activity statement. In this instance, there are no assets released from restrictions. Download the excel file provided. Prepare the activity statement, save it on your computer, and upload your response in the drop box below. Cash $121,000 Pledges Receivable 50,240 Interest Income Receivable 500 Inventory 1,000 Investments – long term 492,600 Land 42,000 Building 162,800 Vintage Car Collection 60,000 Allowance for Uncollectible Pledges 1,000 Accumulated Depreciation 22,600 Accounts Payable 600 Notes Payable 1,000 Deferred Revenue 400 Long Term Loans Payable 100,000 Mortgage Payable 14,000 Net Assets: UR Undesignated 100,000 Net Assets: UR Designated 60,000 Net Assets: TR 100,000 Net Assets: PR 200,000 Program Expenses 42,300 SS: Mgt & Genl Exp 9,600 SS: Fundraising Exp 3,600 Reclassifications OUT-TR 44,200 Loss on Disposal of equipment 600 Revenue:…
QUESTION 1 a) You are the accounts executive for BFC Enterprise. You are responsible to prepare the monthly receivables and payables control accounts for the business. Following are balances from the company’s record at 1 February 2020. Dr RM Cr RM Debtor ledger control account 54,000 1,000 Creditor ledger control account 200 43,000 The following information is extracted in February 2020 from the company’s records: RM Credit sales 251,000 Cash sales 34,000 Credit purchases…