Prepare a multiple-step income statement for Yazdy Company for
2020
DR.
CR.
Accounts Payable
26,000
Accounts...
Prepare a multiple-step income statement for Yazdy Company for
2020
DR.
CR.
Accounts Payable
26,000
Accounts Receivable
57,000
Accumulated Depreciation – Equipment
40,000
Depreciation Expense
13,000
Sales Revenue
250,000
Cash
25,000
Common Stock
50,000
Equipment
150,000
Investment in Debt Securities
45,000
Freight-out
5,000
Insurance Expense
2,500
Salaries and Wages expense
30,000
Rent Expense
20,000
Sales Discount
8,000
Retained Earnings
25500
Prepaid Insurance
7,500
Sales Return and Allowance
12,000
Gain on Disposal of Plant Asset
6,000
Dividends
7,000
Interest Expense
7,500...
DR.
CR.
Accounts Payable
26,000
Accounts Receivable
57,000
Accumulated Depreciation – Equipment
40,000
Depreciation Expense
13,000...
DR.
CR.
Accounts Payable
26,000
Accounts Receivable
57,000
Accumulated Depreciation – Equipment
40,000
Depreciation Expense
13,000
Sales Revenue
250,000
Cash
25,000
Common Stock
50,000
Equipment
150,000
Investment in Debt Securities
45,000
Freight-out
5,000
Insurance Expense
2,500
Salaries and Wages expense
30,000
Rent Expense
20,000
Sales Discount
8,000
Retained Earnings
25500
Prepaid Insurance
7,500
Sales Return and Allowance
12,000
Gain on Disposal of Plant Asset
6,000
Dividends
7,000
Interest Expense
7,500
Salaries and Wages Payable
2,500
Income tax Expense
6,500
Advertising...
The income statement columns of Swanson Company's year-end
worksheet are as
follows:
Sales &n
The income statement columns of Swanson Company's year-end
worksheet are as
follows:
Sales $600,000
Sales Returns and
Allowances 30,000
Accounts
Receivable 120,000
Cost of Goods
Sold 475,000
Freight
out 4,000
Advertising
Expense 8,000
Accounts
Payable 25,000
Rent
Expense 32,000
Office
Supplies 1,800
Store Salaries
Expense 63,000
Utilities
Expense 12,000
Amortization
Expense 5,000
Merchandise
Inventory 31,000
Sargent,
Capital 121,000
Sargent,
Drawings 6,000
Prepare the end of the period closing entries for the
Swanson.
Given the following adjusted account balances (all normal),
prepare the closing journal entries for Ezzy Holdings...
Given the following adjusted account balances (all normal),
prepare the closing journal entries for Ezzy Holdings on December
31, 2018.
Cash
45,000 Prepaid
rent
9,000
Garth Gaudette, Capital
85,000
Land
65,000 Service
revenue
75,500
Unearned service revenue 24,000
Supplies
4,000 Interest expense
5,000
Amortization expense
15,000
Rent
expense
12,500 Salary
expense
46,000
Garth Gaudette, Withdrawals 20,000
Note
payable
70,000 Interest
payable 3,000
Acc.
amortization, building
15,000
Supplies expense 8,000
Building
85,000
Accounts
receivable ...
The partial adjusted account balances of the Raiders Fitness
Center at December 31 are as follows:...
The partial adjusted account balances of the Raiders Fitness
Center at December 31 are as follows:
Accounts
Account Balances
Accounts
Account Balances
Cash
$
16,000
Service
Revenue
$107,000
Accounts
Receivable
15,000
Interest Revenue
13,000
Supplies
4,000
Depreciation
Expense
28,000
Prepaid
Insurance
8,000
Insurance
Expense
12,000
Buildings
300,000
Salaries and Wages
Expense 45,000
Accumulated Depreciation—Building 120,000
Supplies
Expense
5,000
Utilities
Expense
10,000
Accounts
Payable
19,000
Unearned Service
Revenue
7,000
Common
Stock
90,000
Retained
Earnings
115,000
Dividends
10,000
Instructions
Prepare...
Castaway Co.
Balance Sheet
Assets:
20X1
20X2
Cash
100,000
100,000
Accounts Receivable
48,000
30,000
Inventory
65,000...
Castaway Co.
Balance Sheet
Assets:
20X1
20X2
Cash
100,000
100,000
Accounts Receivable
48,000
30,000
Inventory
65,000
50,000
Prepaid Rent
6,000
12,000
Equipment
125,000
300,000
Accumulated Dep
25,000
35,000
BV of Equipment
100,000
265,000
Land
50,000
20,000
Total Assets
$ 369,000
$ 477,000
Castaway Co.
Income Statement
for 20X2
Revenues
$ 200,000
COGS
75,000
Gross Profit
125,000
Insurance Expense
5,000
Rent Expense
6,000
Supplies Expense
5,000
Depreciation Expense
10,000
Interest Expense
8,000
Net Income
$ 91,000
What is cash paid for...
Given the following adjusted account balances (all normal),
prepare the closing journal entries for Ski Lodge...
Given the following adjusted account balances (all normal),
prepare the closing journal entries for Ski Lodge 2 on December 31,
2018.
Cash
45,000 Prepaid
rent
9,000
Jane Goden,
Capital
85,000
Land
65,000 Service
revenue
75,500
Unearned service
revenue
24,000
Supplies
4,000 Interest expense
5,000
Amortization expense - Vehicle 15,000
Rent
expense
12,500 Salary
expense
46,000
Jane Goden,
Withdrawals
20,000
Note
payable
70,000 Interest
payable 3,000
Acc.
amortization, Building
15,000
Freight Payable
2,200
COGS
1,000...
Prepare a trial balance.
(LO 4)
The following accounts are taken from the ledger of Carland...
Prepare a trial balance.
(LO 4)
The following accounts are taken from the ledger of Carland
Company at December 31, 2017.
200
Notes Payable
$20,000
101
Cash
$ 6,000
301
Owner's Capital
28,000
126
Supplies
6,000
157
Equipment
80,000
729
Rent Expense
4,000
306
Owner's Drawings
8,000
212
Salaries and Wages Payable
3,000
726
Salaries and Wages Expense
38,000
201
Accounts Payable
11,000
400
Service Revenue
88,000
112
Accounts Receivable
8,000
Prepare a trial balance in good form.
The following information relates to TipTopTea for the year
ended 30 June 2020. Accounts payable 82,500...
The following information relates to TipTopTea for the year
ended 30 June 2020. Accounts payable 82,500 Accounts receivable
7,500 Accumulated depreciation- Equipment 11,800 Bank Loan (due in
2025) 38,000 Capital 105,400 Cash at bank 186,400 Depreciation
expense-Equipment 8,600 Drawings 4,000 Electricity expense 7,500
Equipment 180,000 Prepaid rent 16,500 Rent expense 32,000 Service
revenue 282,600 Supplies 3,900 Unearned revenue 19,200 Wages
expense 135,400 Wages payable 42,500 Required; Prepare the closing
entries for TipTopTea as at 30 June 2020. Narrations are required.