FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
What is ending
What is the correct title for this company's
a. Balance Sheet, Talbridge Ltd., Year ended December 31, 2021
b. Talbridge Ltd., Balance Sheet, December 31, 2021
c. Talbridge Ltd., Balance Sheet, Year ended December 31, 2021
d. December 31, 2021, Balance Sheet, Talbridge Ltd.
e. Talbridge Ltd., December 31, 2021, Balance Sheet
Enter the letter that corresponds to your choice. (A B C D E)
What is total current assets on this company's balance sheet?
What is the correct order for the current assets section of this company's balance sheet?
a. Cash (end of year),
b. Cash (beginning of year), Accounts receivable, Prepaid insurance, Supplies
c. Cash (end of year), Accounts receivable, Prepaid insurance, Supplies
d. Cash (beginning of year), Accounts receivable, Prepaid expenses, Prepaid insurance, Supplies
e. Cash (end of year), Accounts receivable, Prepaid expenses, Prepaid insurance, Supplies
Enter the letter that corresponds to your choice. (A B C D E)
What is the correct order for the intangible section of the balance sheet?
a. Business licence, Supplies, Website design
b. Business licence, Prepaid expenses, Website design
c. Website design, Business licence
d. Website design, Prepaid insurance, Prepaid expenses
e. Website design, Business licence, Prepaid insurance, Prepaid expenses
Enter the letter that corresponds to your choice. (A B C D E)
Transcribed Image Text:Talbridge Ltd. had the following account balances at December 31, 2021:
Account Name
Repairs expense
Wages expense
Prepaid expenses
Dividends
Purchase of intangibles
Cash (end of year)
Deferred revenue
Owners' capital
Accounts payable
Prepaid insurance
Collections from customers
Rent expense
Contributions by owners
Accounts receivable
Payment of dividends
Website design
Service revenue
Cash received from debt
Income tax expense
Office supplies
Office supplies expense
Payments to suppliers
Amount
$1,125
21,350
2,500
17,155
Cash (beginning of year)
16,890
Retained earnings (beginning of year) 8,575
Interest expense
900
Business licence
60
Bank loan payable, due in 2025
Website expense
Income tax payable
1,400
3,500
1,360
36,385
1,500
12,000
12,810
900
28,350
2,100
3,500
1,300
47,560
12,500
4,450
2,550
1,845
18,995
12,500
500
575
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