Financial Accounting
3rd Edition
ISBN: 9780133791129
Author: Jane L. Reimers
Publisher: Pearson Higher Ed
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Chapter B, Problem 35PA
Prepare a
Revenue $20,000
Prepaid rent 1,000
Equipment 12,500
Common stock 4,000
Accounts payable 2,000
Salaries expense 2,000
Depreciation expense 1,000
Cash 1,000
Inventory 8,000
Dividends 1,000
3Balance at January 1, 2011.
Requirement
Prepare a trial balance at December 31, 2011, income statement and statement of changes in shareholders’ equity for the year ended December 31, 2011, and
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You are assigned to audit Bonifacio Inc. for the year ending June 30, 2014. Prior to any adjustments you were able to extract the following balances from the client’s records:Accounts receivable, control account P221,250Allowance for doubtful accounts (7,500)Amortized cost P213,750
Current Assets
Dorothy Corporation had the following accounts in its year-end adjusted trial balance: Inventories, $23,800; Accounts Receivable, $7,000; Accounts
Payable, $7,200; Prepaid Rent, $2,400; Marketable Securities, $3,000; Allowance for Doubtful Accounts, $1,100; and Cash, $1,200.
Prepare the current assets section of Dorothy's year-end balance sheet.
Current Assets
Cash
Marketable securities
Accounts receivable
Less: Allowance for doubtful accounts
Inventories
Prepaid rent
Total current assets
Dorothy Corporation
Partial Balance Sheet
Feedback
7,000 âś“
1,100âś”
1,200
3,000 âś“
5,900
23,800
2,400 âś“
Presented below is the adjusted trial balance of TechCheck Corp. Prepare the following:
a. Balance Sheet (classified format)
Spring Check Inc.
Adjusted Trial Balance
December 31, 2018
Debit
Credit
Cash
450,000
Accounts Receivable
1,250,000
Allowance for Doubtful Accounts
2$
5,000
Inventory, 12/31/18
2,480,000
Equipment
3,800,000
Accumulated Deperciation - Equipment
1,150,000
Building
Accumulated Deperciation - Building
1,400,000
420,000
Land
500,000
Patent
4,000,000
Accounts Payable
875,000
Salaries and Wages Payable
Notes Payable - Due 7/31/19
Mortgage Payable - Due 12/31/2025
45,000
250,000
1,000,000
Common Stock
Par
$ 0.01
10,000
APIC (Additional Paid in Capital in Excess of Par)
Retained Earnings
1,990,000
3,425,000
Dividends Dedared - Common
2$
400,000
Sales
14,400,000
$
$
Sales Discounts
180,000
Sales Returns and Allowances
210,000
Cost of Goods Sold (COGS)
5,350,000
Selling Expenses
Administrative Expenses
1,300,000
$
650,000
Investment Revenue
150,000
Income Tax Expense…
Chapter B Solutions
Financial Accounting
Ch. B - Indicate whether each of the following accounts...Ch. B - Prob. 2YTCh. B - Prob. 1QCh. B - Prob. 2QCh. B - Prob. 3QCh. B - Prob. 4QCh. B - Prob. 5QCh. B - Prob. 6QCh. B - Prob. 7QCh. B - Prob. 8Q
Ch. B - Prob. 9QCh. B - Prob. 1MCQCh. B - Prob. 2MCQCh. B - Prob. 3MCQCh. B - Prob. 4MCQCh. B - Prob. 5MCQCh. B - Prob. 6MCQCh. B - Prob. 7MCQCh. B - Prob. 8MCQCh. B - Prob. 9MCQCh. B - Prob. 10MCQCh. B - Prob. 1SEACh. B - Prob. 2SEACh. B - Prob. 3SEACh. B - Prob. 4SEACh. B - Prob. 5SEACh. B - Prob. 6SEACh. B - Prob. 7SEACh. B - Prob. 8SEACh. B - Prob. 9SEACh. B - Prob. 10SEBCh. B - Prob. 11SEBCh. B - Prob. 12SEBCh. B - Prob. 13SEBCh. B - Prob. 14SEBCh. B - Prob. 15SEBCh. B - Prob. 16SEBCh. B - Prob. 17SEBCh. B - Prob. 18SEBCh. B - Prob. 19EACh. B - Prob. 20EACh. B - Record transactions to T-accounts and prepare an...Ch. B - Prob. 22EACh. B - Prob. 23EACh. B - Record closing entries and compute net income. (LO...Ch. B - Record journal entries, record adjusting entries,...Ch. B - Record journal entries, post to T-accounts, and...Ch. B - Prob. 27EBCh. B - Prob. 28EBCh. B - Prob. 29EBCh. B - Prob. 30EBCh. B - Prob. 31EBCh. B - Prob. 32EBCh. B - Prob. 33EBCh. B - Prob. 34EBCh. B - Prepare a trial balance and financial statements....Ch. B - Record journal entries, post to T-accounts, and...Ch. B - Prepare closing entries and financial statements....Ch. B - Record adjusting journal entries, post to...Ch. B - Prob. 39PACh. B - Prob. 40PACh. B - Prob. 41PACh. B - Prob. 42PACh. B - Prob. 43PBCh. B - Prob. 44PBCh. B - Prob. 45PBCh. B - Prob. 46PBCh. B - Prob. 47PBCh. B - Prob. 48PBCh. B - Prob. 49PBCh. B - Prob. 50PBCh. B - Prob. 51FSACh. B - Prob. 52CTP
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