Financial Accounting
5th Edition
ISBN: 9781259914898
Author: SPICELAND
Publisher: MCG
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Chapter 11, Problem 2PB
To determine
Prepare the statement of
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Bonita Industries reports the following ledger account balances at June 30, 2025:
Cash $1158
Accounts receivable 2838
Inventory 3384
Prepaid rent 104
Equipment 320
Accumulated depreciation-equipment 66
Accounts payable 920
Unearned rent revenue 144
Common stock 220
Retained earnings 6740
Service revenue 392
Interest revenue 80
Salaries and wages expense 200
Insurance expense 98
Assuming that all of the accounts have normal balances, what are total credits on the company's trial balance at June 30, 2025?
A. $8562.
B. $8586.
C. $8496.
D. $8482.
A trial balance will balance even if
A. a journal entry to record the purchase of equipment for cash of $52100 is not posted.
B. a $13100 cash dividend is debited to dividends for $13100 and credited to cash for $1310.
C. a $510 collection on accounts receivable is credited to accounts receivable for $510 without a corresponding debit.
D. a purchase of supplies for $595 on account is debited to supplies for $595 and credited to accounts payable for $559.
Equipment costing $15200 is purchased by paying $3800 cash and signing a note payable for the remainder.
The journal entry to record this transaction should include a
credit to Notes Payable.
credit to Notes Receivable.
credit to Equipment.
debit to Cash.
Chapter 11 Solutions
Financial Accounting
Ch. 11 - Prob. 1SSQCh. 11 - Prob. 2SSQCh. 11 - 3. The issuance of notes payable is classified in...Ch. 11 - 4. Which of the following is an example of a...Ch. 11 - Prob. 5SSQCh. 11 - Prob. 6SSQCh. 11 - Prob. 7SSQCh. 11 - Prob. 8SSQCh. 11 - Prob. 9SSQCh. 11 - Prob. 10SSQ
Ch. 11 - Prob. 11SSQCh. 11 - Prob. 12SSQCh. 11 - Prob. 13SSQCh. 11 - Prob. 14SSQCh. 11 - Prob. 15SSQCh. 11 - Applying Excel #11-1
A company reports net income...Ch. 11 - Prob. 2AECh. 11 - Prob. 1RQCh. 11 - Prob. 2RQCh. 11 - Prob. 3RQCh. 11 - 4. Why is it necessary to use an income statement,...Ch. 11 - Prob. 5RQCh. 11 - Prob. 6RQCh. 11 - Prob. 7RQCh. 11 - Prob. 8RQCh. 11 - Prob. 9RQCh. 11 - Prob. 10RQCh. 11 - Prob. 11RQCh. 11 - Prob. 12RQCh. 11 - Prob. 13RQCh. 11 - Prob. 14RQCh. 11 - Prob. 15RQCh. 11 - Prob. 16RQCh. 11 - Prob. 17RQCh. 11 - Prob. 18RQCh. 11 - Prob. 19RQCh. 11 - Prob. 20RQCh. 11 - BE11-1 Classify each of the following items as an...Ch. 11 - BE11-2 The following selected transactions occur...Ch. 11 - BE11-3 Place the following items in the correct...Ch. 11 - BE11-4 Laser World reports net income of $650,000....Ch. 11 - BE11-5 Macrosoft Company reports net income of...Ch. 11 - BE11-6 Hi-Tech, Inc., reports net income of $70...Ch. 11 - BE11-7 Engineering Wonders reports net income of...Ch. 11 - BE11-8 Creative Sound Systems sold investments,...Ch. 11 - Prob. 9BECh. 11 - BE11-10 Technologies Worldwide purchased land for...Ch. 11 - Prob. 11BECh. 11 - Prob. 12BECh. 11 - BE11-13 A-2-Z Design Services engaged in the...Ch. 11 - Prob. 14BECh. 11 - Prob. 15BECh. 11 - Prob. 16BECh. 11 - Prob. 17BECh. 11 - Prob. 18BECh. 11 - Prob. 19BECh. 11 - Prob. 20BECh. 11 - Prob. 1ECh. 11 - Prob. 2ECh. 11 - E11-3 Analysis of an income statement, balance...Ch. 11 - E11-4 Wi-Fi, Inc., has the following selected...Ch. 11 - Prob. 5ECh. 11 - Prob. 6ECh. 11 - Prob. 7ECh. 11 - Prob. 8ECh. 11 - E11-9 Software Distributors reports net income of...Ch. 11 - Prob. 10ECh. 11 - Prob. 11ECh. 11 - Prob. 12ECh. 11 - Prob. 13ECh. 11 - Prob. 14ECh. 11 - Prob. 15ECh. 11 - Calculate operating activities—direct method...Ch. 11 - Prob. 17ECh. 11 - Prob. 18ECh. 11 - Prob. 19ECh. 11 - Prob. 20ECh. 11 - Prob. 1PACh. 11 - Prob. 2PACh. 11 - Prob. 3PACh. 11 - Prob. 4PACh. 11 - Prob. 5PACh. 11 - Prob. 6PACh. 11 - Prob. 7PACh. 11 - Prob. 8PACh. 11 - Prob. 1PBCh. 11 - Prob. 2PBCh. 11 - Prob. 3PBCh. 11 - Prob. 4PBCh. 11 - Prob. 5PBCh. 11 - Prob. 6PBCh. 11 - Prob. 7PBCh. 11 - Prepare an income statement using operating cash...Ch. 11 -
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