Beginning Balance (BB) ? $ 8,820 $ 73,500 Ending Balance (EB) 36,260 ? 77,000 Transferred In (TI) 196,500 44,500 ? Transferred Out (TO) 194,700 48,400 183,800 For Case (A) above, what is the Beginning Balance (BB)? Multiple Choice $35,940. $38,300. $39,960. $34,460.
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| Beginning Balance (BB) | ? | $ | 8,820 | $ | 73,500 | ||||
| Ending Balance (EB) | 36,260 | ? | 77,000 | ||||||
| Transferred In (TI) | 196,500 | 44,500 | ? | ||||||
| Transferred Out (TO) | 194,700 | 48,400 | 183,800 | ||||||
For Case (A) above, what is the Beginning Balance (BB)?
Multiple Choice
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$35,940.
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$38,300.
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$39,960.
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$34,460.
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- Case (A) Case (B) Case (C) Beginning Balance (BB) $ 64,800 $ 59,840 ? Ending Balance (EB) 61,300 ? 13,800 Transferred In (TI) 189,100 79,530 65,200 Transferred Out (TO) ? 76,420 67,300 For Case (B) above, what is the Ending Balance (EB)?Determine the missing amount from each of the separate situations a, b, and c below. (Omit the "$" sign in your response.) Assets = Liabilities + Equity a. $ = $ 164,000 + $ 16,000 b. $ 90,000 = $ 39,000 + $ c. $ 201,000 = $ + $ 62,000A vacant lot acquired for $375,500, on which there is a balance owed of $281,625, is sold for $488,150 in cash. The seller pays the $281,625 owed. What is the effect of these transactions on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? Enter all values and positive numbers.
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- Use the following adjusted trial balance to answer questions 22-25.Cash $ 6,530Accounts Receivable 2,450Prepaid Expenses 880Equipment 18,490Accounts Payable 1,800Loan Payable 10,600Owner’s Equity 12,940Fees Earned 9,750Marketing Expense 1,685Rent Expense 1,960Utilities Expense 345Wages Expense 2,750Totals $35,090 $35,09022. Net income for the period is:A. $9,750B. $6,530C. $3,010D. None of these23. Total assets on the balance sheet will be:A. $35,090B. $28,350C. $9,860D. None of these24. Total liabilities on the balance sheet will be:A. $1,800B. $10,600C. $25,340D. None of these25. Owner’s Equity on the balance sheet will be $12,940.A. TrueB. False1. PREPARE ADJUSTED TRIAL BALANCE , INCOME STATEMENT & BALANCE SHEET - TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BAL INCOME STATEMENT BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT CASH 419,640.0 ACCOUNTS RECEIVABLE 30,000.0 OFFICE EQUIPMENT 40,000.0 ACCOUNTS PAYABLE 40,000.0 APEX, CAPITAL 500,000.0 APEX DRAWING 10,000.0 PURCHASES 85,000.0 PURCHASE RETURN 3,000.0 PURCHASE DISCOUNT 1,440.0 SALES 110,000.0 SALES DISCOUNT…Using this Trial Balance: Cash 5,000 Accts. Rec. 5,000 Prepaid Ins. 1,800 Supplies 1,200 Equip. 26,000 Acc. Deprec.-Equip. 4,000 Accts. Pay. 6,000 Wages Payable Mohammad, Cap. 15,000 Svc. Revenue 25,000 Adv. Exp. 1,000 Deprec. Exp. Insurance Exp. Supplies Exp. Utilities Exp. 2,000 Wages Exp. 8,000 record, in proper journal entry form, adjusting entries for the three month period ending September 30, 2020 : Since the last payday in September, $2,000 of wages were earned by employees in September though they won’t be paid until the following month. An inventory of the Supplies taken at the close of business on September 30th revealed $700 worth of Supplies on hand. Of the amount of Prepaid Insurance on September…
- The accounting equation for Cineo Enterprises is as follows: Assets Liabilities Owner’s Equity $120,000 = $60,000 + $60,000 If Cineo purchases office equipment on account for $15,000, the accounting equation will change to Select one: a. $135,000 = $60,000 + $75,000 b. $135,000 = $67,500 + $67,500 c. $120,000 = $60,000 + $60,000 d. $135,000 = $75,000 + $60,000T. Nix, Capital$ 128,300Cost of goods sold$ 108,900T. Nix, Withdrawals7,000Depreciation expense11,600Sales183,000Salaries expense39,000Sales discounts4,200Miscellaneous expenses5,000Sales returns and allowances5,200 1. Record the entry to close the income statement accounts with credit balances. 2. Record the entry to close the income statement accounts with debit balances. 3. Record the entry to close the Income Summary account. 4. Record the entry to close the Withdrawals account.Financial statements Alpine Realty. Inc., organized July 1. 20Y8, is operated by Angela Griffin. How many errors can you find in the following financial statements far Alpine Realty, Inc. prepared after its first month of operations?