Question

Chelsea Sports has the following balances on their Trial Balance in random order.  Each account contains the...

Chelsea Sports has the following balances on their Trial Balance in random order.  Each account contains the balance that is normal for that type of account.

Accounts Payable

$62,800

Building

$75,000

Service Revenue

460,000

Note Payable – long term

43,090

Equipment

22,500

Common Stock

120,000

Patent

5,250

Accounts Receivable

102,200

Cash

86,290

Unearned Revenue

15,400

Dividends

12,200

Prepaid Expenses

7,250

Accumulated Depreciation

12,500

Retained Earnings (Beg)

0

What are total expenses for the period?

A.

$415,300
B.

$390,900
C.

$327,800
D.

$403,100
E.

$400,600
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Using these account names (watch your spelling), prepare an adjusted trial balance from the adjusted account...
Using these account names (watch your spelling), prepare an adjusted trial balance from the adjusted account balances; solve for the one missing account balance: Cash (assume all accounts have normal balances): Account Name Normal Balance Accounts Payable $19,000 Accounts Receivable $23,760 Cash ?? Common Stock $38,000 Dividends $9,000 Equipment $20,000 Prepaid Insurance $21,466 Land $45,000 Notes Payable $61,000 Retained Earnings $18,815 Insurance Expense $19,689 Service Revenue $90,550 Supplies $5,250 Salaries Expense $51,000
Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances)....
Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances). Please help, I'm so lost. Accounts payable - $6600 Accounts receivable - $12750 Admin expense - $49150 Cash - $28900 Common stock - $15000 Prepaid insurance - $8800 Service revenue - $78000
Produce a Trial Balance (in the corrert order) using the following account balances. All balances are...
Produce a Trial Balance (in the corrert order) using the following account balances. All balances are the normal balance of the account. Accounts Receivable 10,000 Accumulated Depreciation 25,000 Bad Debt Expense 10,000 Cash at Bank 30,000 COGS 35,000 Depreciation 20,000 Equipment 60,000 Inventory 15,000 Owners Capital 50,000 Owners Drawings 5,000 Rent Expense 15,000 Salaries Payable 20,000 Sales Revenue 105,000 Supplies Expense 10,000 Supplies on Hand 5,000 Unearned Revenue 15,000 All account descriptions must be exactly as they appear above. Expenses...
On December 31, Year 1, Morgan Company had the following normal account balances in its general...
On December 31, Year 1, Morgan Company had the following normal account balances in its general ledger. Use this information to prepare a trial balance. Land $ 20,250 Unearned revenue 15,400 Dividends 5,400 Prepaid rent 5,850 Cash 58,920 Salaries expense 16,500 Accounts payable 2,280 Common stock 20,000 Operating expense 17,250 Office supplies 1,950 Advertising expense 2,500 Retained Earnings, 1/1/Year 1 15,430 Service revenue 82,280 Accounts receivable 6,770
Trial Balance The accounts in the ledger of Seaside Furniture Company as of August 20Y5 are...
Trial Balance The accounts in the ledger of Seaside Furniture Company as of August 20Y5 are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted. Accounts Payable $118,600 Accounts Receivable 660,500 Cash ? Common Stock 150,000 Dividends 36,000 Fees Earned 4,330,000 Insurance Expense 18,000 Land 1,850,000 Miscellaneous Expense 30,200 Notes Payable 75,000 Prepaid Insurance 21,600 Rent Expense 390,000 Retained Earnings 1,814,400 Supplies 11,200 Supplies Expense 23,700 Unearned Rent...
Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable...
Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable $65,000, Accounts receivable $45,000, Capital stock $100,000, Cash $50,000, Dividends $10,000, Goodwill $47,000, Interest expense $4,000, Interest payable $2,000, Inventory $38,000, Notes payable $80,000, Prepaid expenses $5,000, Property, plant & equipment $123,000, Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. How much are total assets?
Selected year-end account balances from the adjusted trial balance as of December 31, 2017, for Grouper...
Selected year-end account balances from the adjusted trial balance as of December 31, 2017, for Grouper Corp. is provided below. Debit Credit Accounts Receivable $82,760 Dividends 29,980 Depreciation Expense 15,050 Equipment 242,590 Salaries and Wages Expense 103,850 Accounts Payable $60,420 Accumulated Depreciation—Equipment 130,870 Unearned Rent Revenue 26,110 Service Revenue 209,530 Rent Revenue 7,070 Rent Expense 4,100 Retained Earnings 70,450 Supplies Expense 1,600 Collapse question part (a) Prepare closing entries.
The following beginning balances are given for ATB Company at 01.01.2020. Account Name Amount (TL) Cash...
The following beginning balances are given for ATB Company at 01.01.2020. Account Name Amount (TL) Cash 83.600 Banks 19.000 Checks 43.000 Accounts Receivable 56.000 Notes Receivable 67.400 Allowance for Uncollectible Accounts 16.000 Inventory 750.000 Prepaid Expenses - Rent 50.400 Accounts Payable 135.000 Notes Payable 152.600 Dividends 26.000 Tax payable 71.800 Bank Loan 228.000 Bonds Issued 230.000 Buildings 675.000 Furniture and fixture 250.000 Accumulated Depreciation - Buildings 30.000 Capital Stock 537.000 Unearned Revenue 110.000 Retained Earnings 510.000 Prepare the adjusted trial...
The following is a December 31, 2021, post-closing trial balance for Culver City Lighting, Inc. Account...
The following is a December 31, 2021, post-closing trial balance for Culver City Lighting, Inc. Account Title Debits Credits Cash $ 75,000 Accounts receivable 59,000 Inventory 65,000 Prepaid insurance 35,000 Equipment 160,000 Accumulated depreciation $ 54,000 Patent (net) 60,000 Accounts payable 22,000 Interest payable 12,000 Notes payable (due in 10 years) 210,000 Common stock 90,000 Retained earnings 66,000 Totals $ 454,000 $ 454,000 Prepare a classified balance sheet for Culver City Lighting, Inc. (Amounts to be deducted should be indicated...
Ahmad Co.'s trial balance included the following account balances at December 31, 2013: Accounts receivable $12,000...
Ahmad Co.'s trial balance included the following account balances at December 31, 2013: Accounts receivable $12,000 Inventories 40,000 Patent 12,000 Investments 30,000 Prepaid insurance 6,000 Note receivable, due 2016 50,000 Investments consist of treasury bills that were purchased in November and mature in January. Prepaid insurance is for the next two years. What amount should be included in the current asset section of Ahmad's December 31, 2013, statement of financial position?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT