Jones had the following items on the trial balance at December
31:
Administrative expense
50,000
Cost...
Jones had the following items on the trial balance at December
31:
Administrative expense
50,000
Cost of goods sold
30,000
Interest expense
100,000
Provision for income tax
10,000
Sales
600,000
Selling expense
60,000
Unearned rent
6,000
Prepare a multi-step income statement.
The balance sheet for December 31, 2018, December 31, 2017, and
the income statement for the...
The balance sheet for December 31, 2018, December 31, 2017, and
the income statement for the year ended December 31, 2018, for
Rocket Company follows.
Rocket Company
Balance Sheet
December 31, 2018 and 2017
2018
2017
Assets
Cash
$ 25,000
$ 20,000
Accounts receivable, net
60,000
70,000
Inventory
80,000
100,000
Land
50,000
50,000
Building and equipment
130,000*
115,000
Accumulated depreciation
(85,000)
(70,000)
Total assets
$260,000
$285,000
Liabilities and Stockholders' Equity
Accounts payable
$ 30,000
$ 35,000
Income taxes payable
4,000 ...
question 4
Prepare the adjusted trial balance on December 31, 20X6
and create income statement and...
question 4
Prepare the adjusted trial balance on December 31, 20X6
and create income statement and statement of financial position and
statement of retained earnings for the year ended December 31, 20X6
please show your work and thank you for helping me
Cash……………..…………………………….250,000
Accounts receivable…………………….……..680,000
Marketable securities…………………………...60,000
Prepaid insurance……………………………….35,000
Prepaid rent….………………………………….30,000
Office equipment…………………………….....620,000
Accumulated depreciation: equipment………...200,000
Land……………………………………………750,000
Accounts payable………………………………306,000
Dividends payable……………………………… 50,000
Interest
payable…………………………………... 8,750
Income tax payable……………………………...30,000...
The adjusted trial balance of Pacific Scientific Corporation on
December 31, 2018, the end of the...
The adjusted trial balance of Pacific Scientific Corporation on
December 31, 2018, the end of the company’s fiscal year, contained
the following income statement items ($ in millions): sales
revenue, $2,170; cost of goods sold, $1,380; selling expenses,
$185; general and administrative expenses, $175; interest expense,
$50; and gain on sale of investments, $80. Income tax expense has
not yet been recorded. The income tax rate is 35%.
Prepare a multiple-step income statement for 2018. Ignore EPS
disclosures. (Amounts to...
) Plaza Co. 31/12/19 Partial Trial Balance
Data
&n
) Plaza Co. 31/12/19 Partial Trial Balance
Data
Debits
Credits
Sales revenue 700,000
Interest revenue 60,000
Gain on sale of investments
110,000
Cost of goods
sold
500,000
Salaries and
wages
150,000
Depreciation
expense
40,000
Interest
expense
30,000
Marketing and administrative expenses
60,000
Plaza had 50,000 shares outstanding throughout the year. Income
tax expense has not yet been accrued. The effective tax rate is
30%
Required: Prepare a single-step income
statement with basic earnings per share disclosure.
Vanguard Company had the following adjusted trial balance at
December 31, 2011.
...
Vanguard Company had the following adjusted trial balance at
December 31, 2011.
VARGUARD COMPANY
Adjusted Trial Balance
For the year ended December 31, 2011
Account titles Debits Credits
Cash $14,800
Accounts Receivable 8,800
Equipment 15,900
Accounts Payable $4,400
...
The adjusted trial balance of Pacific Scientific Corporation on
December 31, 2021, the end of the...
The adjusted trial balance of Pacific Scientific Corporation on
December 31, 2021, the end of the company’s fiscal year, contained
the following income statement items ($ in millions): sales
revenue, $2,135; cost of goods sold, $1,310; selling expense, $150;
general and administrative expense, $140; interest expense, $65;
and gain on sale of investments, $90. Income tax expense has not
yet been recorded. The income tax rate is 25%. Assume the company’s
accountant prepared a multiple-step income statement.
a. What amount...
The following is a partial Adjusted Trial Balance for Alpha
Company for the month:
Alpha Company...
The following is a partial Adjusted Trial Balance for Alpha
Company for the month:
Alpha Company
Adjusted Trial Balance (partial)
January 31, 2016
Accounts
Debit
Credit
Inventory
$2,750
Sales
$10,000
Sales Discounts
200
Sales Returns & Allowances
1,200
Purchases
4,000
Purchases Discounts
150
Purchase Returns & Allowances
450
Freight In
50
Advertising Expense
150
Depreciation Expense (100% Admin & General)
130
Freight Out
70
Income Tax Expense
500
Salaries Expense
500
Utilities Expense
100
Additionally, Inventory for December 31, 2015...
The adjusted trial balance for China Tea Company at December 31,
2018, is presented below: Debit...
The adjusted trial balance for China Tea Company at December 31,
2018, is presented below: Debit Credit Cash 10,500 Accounts
receivable 150,000 Prepaid rent 5,000 Inventory 25,000 Equipment
300,000 Accumulated depreciation - equipment 125,000 Accounts
payable 30,000 Notes payable - due in three months 30,000 Salaries
payable 4,000 Interest payable 1,000 Common stock 200,000 Retained
earnings 50,000 Sales revenue 400,000 Costs of goods sold 180,000
Salaries expense 120,000 Rent expense 15,000 Depreciation expense
30,000 Interest expense 2,000 Advertising expense 2,500...
Trial Balance
The accounts in the ledger of Hickory Furniture Company as of
December 31, 2016,...
Trial Balance
The accounts in the ledger of Hickory Furniture Company as of
December 31, 2016, are listed in alphabetical order as follows. All
accounts have normal balances. The balance of the cash account has
been intentionally omitted.
Accounts Payable
$42,770
Accounts Receivable
116,900
Cash
?
Common Stock
15,000
Dividends
24,000
Fees Earned
745,230
Insurance Expense
3,600
Land
50,000
Miscellaneous Expense
9,500
Notes Payable
50,000
Prepaid Insurance
21,600
Rent Expense
48,000
Retained Earnings
60,000
Supplies
4,275
Supplies Expense
6,255
Unearned...