A1 The list below shows select accounts for Reading Readiness Company as of B D E F 1 The list below shows select accounts for Reading Readiness Company as of January 31, 20X1. 2 (Accounts are in alphabetical order.) 3. Accounts Payable 2$ 4 8,088 Accounts Receivable 6,960 6 Cash 13,445 7 Equipment Insurance Expense 4,800 8 1,350 Operating Expense Other Expenses 11,800 10 3,482 11 Other Revenues 6,050 Rent Expense 4,800 6,882 Salaries Expense Short-term Notes Payable 17,200 Test Prep Revenue 15,400 Tutoring Revenue 9,100 Unearned Revenue 1,046 Required: 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references to select account titles and amounts to be included on the income statement. Note: List revenues and expenses in order of largest to smallest dollar amounts. 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or Sheet1 DY 曲 100%

A1 The list below shows select accounts for Reading Readiness Company as of B D E F 1 The list below shows select accounts for Reading Readiness Company as of January 31, 20X1. 2 (Accounts are in alphabetical order.) 3. Accounts Payable 2$ 4 8,088 Accounts Receivable 6,960 6 Cash 13,445 7 Equipment Insurance Expense 4,800 8 1,350 Operating Expense Other Expenses 11,800 10 3,482 11 Other Revenues 6,050 Rent Expense 4,800 6,882 Salaries Expense Short-term Notes Payable 17,200 Test Prep Revenue 15,400 Tutoring Revenue 9,100 Unearned Revenue 1,046 Required: 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references to select account titles and amounts to be included on the income statement. Note: List revenues and expenses in order of largest to smallest dollar amounts. 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or Sheet1 DY 曲 100%

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Description: YOu skipped this question In the previous attempt.A1The list below shows select accounts for Reading Readiness Company as ofBDEG.1 The list below shows select accounts for Reading Readiness Company as of January 31, 20X1.(Accounts are in alphabetica

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter3: Basic Accounting Systems: Accrual Basis

Section: Chapter Questions

Problem 2SEQ: On January 24, 20Y8, Niche Consulting collected $5,700 it had hilled its clients for services...

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On January 24, 20Y8, Niche Consulting collected $5,700 it had hilled its clients for services rendered on December 31, 20Y7. How would you record the January 24 transaction, using the accrual basis? A. Increase Cash, $5,700; decrease Fees Earned, $5,700 B. Increase Accounts Receivable, $5,700; increase Fees Earned, $5,700 C. Increase Cash, $5,700; decrease Accounts Receivable, $5,700 D. Increase Cash, $5,700; increase Fees Earned, $5,700
The Ledger of Darlene Subay Advertising contained the following account balance as of June 30, 2020.Cash $520,500Accounts Recievable $35,420Notes Recievable $16,800Prepaid Insurance $35,600Equipment $423,500Accounts payable $44,210 Loans Payable $310,000Subay, Capital $668,100Subay, Drawing $120,000Advertising Revenues $332,780Salaries Expense $89,000Marketing Expense $48,200Rent Expense $15,800Supplies Expense $22,000Utilities expense $17,990Miscellaneous Expense $10,280
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Consider the following unadjusted account balances for the year ended December 31, 2022, as prepared by the bookkeeper of Something-Wrong Inc. The bookkeeper is new to the job and prepared the trial balance listing in alphabetical account name order (assume accounts have normal balances).Accounts payable ..................................................... $ 9,500Accounts receivable ................................................. 14,260Cash .......................................................................... 22,222Share capital (Common shares) ............................... 30,000Dividends.................................................................. 5,000Equipment................................................................ 12,000Prepaid insurance..................................................... 25,444Land.......................................................................... 20,000Notes payable (due next month) ............................. 25,300Retained…