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1 balances 1-1-2020 2 cash 3 account receivable 4 supplies 5 equipment (purchased 1-1-2019) 6 accumelated depreciation 7 8 A unearned service revenues note payable (12% issued 31-12-2019 for 3 years) shared capital balance retained earning 9 10 11 transactions during 2020 12 supplies purchased for cash 13 services performed (1/3 of it on account) 14 salaries expense for cash 15 rent expenses for cash 16 utilities expense for cash 17 additional investment by owners for cash 18 dividends paid for cash 19 information relate to adjusting entries (31-12-2020) 20 accrued salaries unpaid 21 supplies on hand 31-12-2020 22 2/3 of uneamed service revenues become earned 23 do not forget adjusting entries for depreciation & interest 24 answer the following questions relate to 31-12-2020: 25 your student id) 26 what is the total debit on the trial balance 27 what is the total credit on adjusted trial balance 28 what is the total debit on after closing trial balance 29 what is the total expenses that will appear in 2020 income statement 30 what is the total revenues that will appear in 2020 income statement 31 what is the net income for 2020 32 what is the book value of equipment 33 what is the total assets 34 what is the total liabilities 35 what is the ending retained earnings 36 what is the supplies unused 37 what is the supplies used during 2020 38 what is the changes in equity during 2020 39 what is the balance of income summary on 31/12/2020 before it is closed 40 what is the beginning retained earnings B Amount ($) 27000 11000 4000 22000 2000 6000 17000 34000 5000 1300 46400 6300 3800 1500 9500 2800 1700 2300 C answers: D

1 balances 1-1-2020 2 cash 3 account receivable 4 supplies 5 equipment (purchased 1-1-2019) 6 accumelated depreciation 7 8 A unearned service revenues note payable (12% issued 31-12-2019 for 3 years) shared capital balance retained earning 9 10 11 transactions during 2020 12 supplies purchased for cash 13 services performed (1/3 of it on account) 14 salaries expense for cash 15 rent expenses for cash 16 utilities expense for cash 17 additional investment by owners for cash 18 dividends paid for cash 19 information relate to adjusting entries (31-12-2020) 20 accrued salaries unpaid 21 supplies on hand 31-12-2020 22 2/3 of uneamed service revenues become earned 23 do not forget adjusting entries for depreciation & interest 24 answer the following questions relate to 31-12-2020: 25 your student id) 26 what is the total debit on the trial balance 27 what is the total credit on adjusted trial balance 28 what is the total debit on after closing trial balance 29 what is the total expenses that will appear in 2020 income statement 30 what is the total revenues that will appear in 2020 income statement 31 what is the net income for 2020 32 what is the book value of equipment 33 what is the total assets 34 what is the total liabilities 35 what is the ending retained earnings 36 what is the supplies unused 37 what is the supplies used during 2020 38 what is the changes in equity during 2020 39 what is the balance of income summary on 31/12/2020 before it is closed 40 what is the beginning retained earnings B Amount ($) 27000 11000 4000 22000 2000 6000 17000 34000 5000 1300 46400 6300 3800 1500 9500 2800 1700 2300 C answers: D

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1 balances 1-1-2020 2 cash 3 account receivable 4 supplies 5 equipment (purchased 1-1-2019) 6 accumelated depreciation 7 8 9 10 unearned service revenues note payable (12% issued 31-12-2019 for 3 years) shared capital balance retained earning 11 transactions during 2020 12 supplies purchased for cash 13 services performed (1/3 of it on account) 14 salaries expense for cash 15 rent expenses for cash A 16 utilities expense for cash 17 additional investment by owners for cash 18 dividends paid for cash 19 information relate to adjusting entries(31-12-2020) accrued salaries unpaid 20 21 supplies on hand 31-12-2020 22 2/3 of uneared service revenues become earned 23 do not forget adjusting entries for depreciation & interest 24 answer the following questions relate to 31-12-2020: (رقع الطالب الجامعي)your student id 25 26 what is the total debit on the trial balance 27 what is the total credit on adjusted trial balance 28 what is the total debit on after closing trial balance 29 what is the total expenses that will appear in 2020 income statement 30 what is the total revenues that will appear in 2020 income statement 31 what is the net income for 2020 32 33 34 what is the total liabilities 35 what is the ending retained earnings what is the book value of equipment what is the total assets 36 what is the supplies unused 37 what is the supplies used during 2020 38 what is the changes in equity during 2020 39 what is the balance of income summary on 31/12/2020 before it is closed 40 what is the beginning retained earnings 41 B Amount ($) 27000 11000 4000 22000 2000 6000 17000 34000 5000 1300 46400 6300 3800 1500 9500 2800 1700 2300 C answers: D
Transcribed Image Text:1 balances 1-1-2020 2 cash 3 account receivable 4 supplies 5 equipment (purchased 1-1-2019) 6 accumelated depreciation 7 8 9 10 unearned service revenues note payable (12% issued 31-12-2019 for 3 years) shared capital balance retained earning 11 transactions during 2020 12 supplies purchased for cash 13 services performed (1/3 of it on account) 14 salaries expense for cash 15 rent expenses for cash A 16 utilities expense for cash 17 additional investment by owners for cash 18 dividends paid for cash 19 information relate to adjusting entries(31-12-2020) accrued salaries unpaid 20 21 supplies on hand 31-12-2020 22 2/3 of uneared service revenues become earned 23 do not forget adjusting entries for depreciation & interest 24 answer the following questions relate to 31-12-2020: (رقع الطالب الجامعي)your student id 25 26 what is the total debit on the trial balance 27 what is the total credit on adjusted trial balance 28 what is the total debit on after closing trial balance 29 what is the total expenses that will appear in 2020 income statement 30 what is the total revenues that will appear in 2020 income statement 31 what is the net income for 2020 32 33 34 what is the total liabilities 35 what is the ending retained earnings what is the book value of equipment what is the total assets 36 what is the supplies unused 37 what is the supplies used during 2020 38 what is the changes in equity during 2020 39 what is the balance of income summary on 31/12/2020 before it is closed 40 what is the beginning retained earnings 41 B Amount ($) 27000 11000 4000 22000 2000 6000 17000 34000 5000 1300 46400 6300 3800 1500 9500 2800 1700 2300 C answers: D
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