Boardwalk Web Design has just completed operations for the year ended December 31, 2025. This is the third year of operations for the company. The following data have been assembled for the business: View the data. View the income statement. View the statement of owner's equity. Prepare the balance sheet of Boardwalk Web Design as of December 31, 2025. (If an input field is not used in the table leave the field empty; do not select a label or enter a zero.) DDBoardwalk Web Design has just completed operations for the year ended December 31, 2025. This is the third year of operations for the company. The following data have been assembledfor the business:View the data.View the income statement.View the statement of owner's equity,Prepare the balance sheet of Boardwalk Web Design as of December 31, 2025. (If an input field is not used in the table leave the field empty; do not select a label or enter a zero.)AssetsLiabilitiesDDataInsurance Expense$4,000Salaries Expense$42,000Service Revenue74,000Accounts Payable6,800Utilities Expense1,100Supplies2,100Rent Expense13,000Feigenbaum, Withdrawals3,900Feigenbaum, Capital, January 1, 20256,000Accounts Receivable5,500Cash4,700Equipment15,000Owner contribution4,500X

Name: Boardwalk Web Design has just completed operations for the year ended
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Description: Boardwalk Web Design has just completed operations for the year ended December 31, 2025. This is the third year of operations for the company. The following data have been assembled for the business: View the data. View the income statement. View the

BALANCE SHEETThe balance sheet is one of the important financial statements of the company. Balance…

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Boardwalk Web Design has just completed operations for the year ended December 31, 2025. This is the third year of operations for the company. The following data have been assembled or the business: View the data. View the income statement. View the statement of owner's equity. Prepare the balance sheet of Boardwalk Web Design as of December 31, 2025. (If an input field is not used in the table leave the field empty; do not select a label or enter a zero.) Assets Liabilities Data Insurance Expense $ 4,000 Salaries Expense $ 42,000 Service Revenue 74,000 Accounts Payable 6,800 Utilities Expense 1,100 Supplies 2,100 Rent Expense 13,000 Feigenbaum, Withdrawals 3,900 Feigenbaum, Capital, January 1, 2025 6,000 Accounts Receivable 5,500 Cash 4,700 Equipment 15,000 Owner contribution 4,500 - X

Boardwalk Web Design has just completed operations for the year ended December 31, 2025. This is the third year of operations for the company. The following data have been assembled or the business: View the data. View the income statement. View the statement of owner's equity. Prepare the balance sheet of Boardwalk Web Design as of December 31, 2025. (If an input field is not used in the table leave the field empty; do not select a label or enter a zero.) Assets Liabilities Data Insurance Expense $ 4,000 Salaries Expense $ 42,000 Service Revenue 74,000 Accounts Payable 6,800 Utilities Expense 1,100 Supplies 2,100 Rent Expense 13,000 Feigenbaum, Withdrawals 3,900 Feigenbaum, Capital, January 1, 2025 6,000 Accounts Receivable 5,500 Cash 4,700 Equipment 15,000 Owner contribution 4,500 - X

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter6: Aging Accounts Receivable (aging)

Section: Chapter Questions

Problem 5R

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1. When should you select settings and customizations for your company file? A. At the time you create the company file B. As work related to the settings comes up C. Before the end of the business's first fiscal year D. In the second quarter 2. What is the Chart of Accounts? A. The list of accounts for each transaction in the accounting system or general ledger B. The menu of products and services that the company offers its customers C. The full list of account numbers associated with the company's customers and vendors D. The balance of each account as of the start date of the business 3. Which of these would be an appropriate start date for a business? A. December 31 of the current year B. The first day of a period, month, quarter, or year C. The day of your first expense D. The day of your first sale 4. What is an historical transaction? A. A transaction that occurred before the start date of the company B. A transaction that appears in the company file by default in QuickBooks…
16) When creating a new QuickBooks data file for an existing company, QuickBooks automatically offsets accounts receivable balances with an entry to the:A) Uncategorized Expenses accountB) Uncategorized Income accountC) Opening Balance Equity accountD) Capital Stock account Group of answer choices A B C D
Using EXCEL => Prepare the appropriate journal entry for each of the transactions for CampIn Inc. during the first three months of 2021 (see Attached file). Using EXCEL => Post the journal entries to the appropriate “T-Accounts.”
The following transactions occurred for Luminary Engineering: View the transactions. View the journal entries. Read the requirements. Requirements 1 and 2. Post the journal entries (including dates) to the T-accounts. Compute the July 31 balance for each account. Use a "Bal." posting reference on the proper side of each account to show the ending balances of the accounts. (For accounts with a $0 balance, make sure to enter "0" in the appropriate input field on the normal side of the account.) Accounts Payable Cash Accounts Receivable Supplies Equipment Notes Payable Common Stock Dividends Service Revenue Utilities Expense Transactions Jul. 2 Jul. 4 Jul. 5 Jul. 10 Jul. 12 Jul. 19 Jul. 21 Jul. 27 Requirements Received $9,000 contribution from Bob Luminary in exchange for common stock. Paid utilities expense of $420. Purchased equipment on account, $2,400. Performed services for a client on account, $2,900. Borrowed $7,600 cash, signing a notes payable. Paid cash dividends of $500 to…
The following selected accounts an their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 20Y2. Required: 1. Prepare a multiple-step income statement. Be sure to complete the statement heading. Refer to the problem data and the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon (:) will automatically appear if it is required. 2. Prepare a Statement of Stockholders' Equity. Additional common stock of $75,000 was issued during the year ended May 31, 20Y2. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3. Prepare the Balance Sheet, assuming that the current portion of the note payable is $58,000. Be sure to complete the statement heading. Refer to the problem data and the list of Labels and Amount Descriptions provided…
General Ledger Tab - To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Abnormal balances appear in parentheses. Click on any amount to see the underlying journal entry. Pam Fisher opens a web consulting business called Fisher Consulting and completes the following transactions in March.Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. Mar. 1 Fisher invested $237,000 cash along with $24,900 in office equipment in the company. Mar. 2 The company prepaid $8,000 cash for six months’ rent for an office. The company's policy is to record prepaid expenses in balance sheet accounts. Mar. 3 The company made credit purchases of office equipment for $5,900 and office supplies for $4,100. Payment is due within 10 days. Mar. 6 The company completed…
18. Using the following information, complete the income statement, statement of owner's equity, and balance sheet for AA Painting for the month of March 2018. The business began operations on March 1, 2018. (Click the icon to view the account balances.) Begin by preparing the income statement for AA Painting for the month of March 2018. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Data Table Accounts Receivable 1,100 Salaries Expense $ 1,600 Accounts Payable 700 Service Revenue 5,500 Cash 24,000 Office Supplies 2,300 Owner contribution during March 43,000 Truck 16,420 Owner withdrawal during March 3,500 Utilities Expense 280 Richardson, Capital, March 1, 2018 Net Income Print Done Now prepare the statement of owner's equity for AA Painting for the month of March 2018. (Enter a "0" for any zero balances.) Raymond, Capital, March 1, 2018 Choose from any list or enter any number in the input fields and then continue to the next question.…
Create your own company describing the nature of the company and what it provides (should be providing services like consulting and digital marketing, not retail (no COGs)), and assume it is a sole proprietorship. Show in details the Accounting cycle (journalizing in general journal, posting in general ledger and preparing financial statements ) taking into consideration the following : Transaction to start with not less than 25 transactions ( including at least one unearned and one prepaid transactions ) Use the coding for the accounts used During the adjusting period please make sure you have covered all six categories discussed in class Make sure to show the method used to calculate the depreciation highlighting over the reason on choosing this specific method Complete the accounting cycle till closing stage and present all financial statements and reports needed .
Additional Activities Directions: Do the task listed bélow using the transacions of Matapang Company for Deccmber 2019. Writc your answers on a separate sheet of paper. 1. Prepare the journal entries. 2. Post each transaction to its ledger account. 3. Prepare the trial balance. 4. Use the provided account numbers. Ralph Matapang cstablishcd Happy Repair Busincss. The following are the transactions for the montb of Decembocr 2019. Dec. He invested P150,000 in the firm. He paid P8,000 for monthly rent. He bought supplies on account amounting to P7,200. He purchascd office equipment amounting to P75,000. paid P37,000 and the balance on account. 2. 2. 3. He paid accounts payable for supplies purchased worth P7,200. He paid P6,000 for the salary of an employec. He received P20,000 for services rendered. He billed clients P48,000 for services on account. 8. 14. 20. 28. 31. Matapang withdrew P12,000 for his personal use. 302 Matapang, Drawings 401 Service Revenue 101 Cash 102 Accounts…
Refer to the accounting information for Bonnie's Batting Cages (page 2 onwards) ASSETS 1. Using the T-accounts template (see attachment from folder), set up the T-accounts with the balances from the Balance Sheet below. 2. Input the transactions below into each account. *** (Use a transaction reference number as a note) 3. Calculate the balance of each account at the end of the April transactions. Use the function feature of your spreadsheet. 4. Create a trial balance to make sure your debits = credits. Use the template provided in the 2nd tab in the spreadsheet. 5. Create a new Balance Sheet dated April 30, 2023. Use the template provided in the 3rd tab in the spreadsheet. Assets T_accounts Assets Account Bank Bonnie's Batting Cages and Softball Services BALANCE SHEET March 31, 2023 Accounts Receivable - Infield Flyers Remdal Red Sox Supplies Equipment Total Assets $ 56 450 3.300 1500 13 500 52 000 $126 750 T_accounts Trial Balance Liabilities Accounts Payable -Cannon Sports Trial…
1. Using EXCEL => Prepare the appropriate journal entry for each of the transactions for CampIn Inc. during the first three months of 2021 (see transactions on page 2). 2. Using EXCEL => Post the journal entries to the appropriate “T-Accounts.”
The general ledger of Jay Consulting shows the following balances at July 31: Jay has asked you to develop a worksheet that will serve as a trial balance (file name PTB). Use the data provided as input for your model. Review the Model-Building Problem Checklist on page 154 to ensure that your worksheet is complete. Print the worksheet when done. Check figure: Total debits, 17,731. To test your model, use the following balances at August 31: Print the worksheet when done. Check figure: Total debits, 18,810. CHART (optional) Using the test data worksheet, prepare a pie chart showing the percentage of each asset to total assets. Print the chart when done.