December 3T Cash 7,530 Accounts Receivable 2,100 Prepaid Expenses 700 Equipment 13,700 Accumulated Depreciation 1,100 Accounts Payable 1,900 Notes Payable 4,300 Common Stock 1,000 Retained Earnings 12,940 Dividends 790 Fees Earned 9,250 Wages Expense 2,500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 185 Totals 30,490 30,490 Determine the total assets. Oa. $24,030 Ob. $16.830 Oc. $25,130 Od. $22,930.
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- Find out the missing value assets in an accounting equation if liabilities is OMR 320000 and capital is OMR 119000 Select one : O a . OMR 439000 assets O b . OMR 201000 assets O c . OMR 349000 assets O d . OMR 102000 assets Clear my choiceFinding Revune Example Clarification I need to know why the RE 1/1 turns from positive to negative. Here is the information and solution equation I was told on here Revenue UNKOWN Expenses $6000 Dividends declared $3000 RE 1/1 $8000 12/31 $9000 9000=8000+(Rev-6000)-3000 This then is converted to the following to find Revenue Revenue=9000-8000+3000+6000 Why does 8000 turn negative and 3000 and 6000 turn positive?FIND RE 1/1 Please calculate the missing information in the following problem and provide the equation and explain how you came to the correct amount pleae. Revenues $63000Dividends $21000 Expenses $38000January 1 retained earnings balance UNKNOWNDecember 31 retained earnings balance $16000$16,000
- Question 1. Trial balanceLand and premises 2000000Furniture 120000Inventory (01/04/19) 80000Import on duty 4000Wages of contract workers 46000Salaries 64000Carriage for goods purchased 5200Carriage for goods sold 12400Discounts 24900 25080Purchases and sales 705200 237252200 Rent 11200 13000Commission 15600 17400Bills receivable 1080012% investment (1/10/19) 136000Donation to national fund 1260010% bank loan 112000Factory rent 64000Receivables and payables 920000 240000eBank 728000Bad debts 66000 Provision for doubtful debts 20000Rates and taxes 31200BrokerageCapitalQueen corona 500000Queen covid 500000Current accountQueen corona 20000Queen covid 128000 Additional informationDue to the economic recession at the moment, the partners estimated that more of their receivables may not be able to settle their debts, hence, they wrote off additional debts of GHc 15000 and agreed to maintain provisions for doubtful debts at 5%.They agreed to provide for discount on receivables at 5%.All…https://www.chegg.com/homework-help/questions-and-answers/q1-let-us-assume-mr-amir-starts-business-called-amir-enterprises-1st-january-2021-invests--q69973974?fbclid=IwAR2P3PvLU-TV9l2c3UJ1L3iqmf2MoRP-lQpp1m2RE9bHkCPdTkYNenUXFPYFE3Unrealized profit on intercompany sale of equipmenta) Trial balance is a list of the ending balances of all the accounts in a ledgerb) Balance sheet is a list of the ending balances of all the accounts in a ledgerc) Income statement is a list of the ending balances of all the accounts in a ledgerd) Trial balance is a list of the opening balances of all the accounts in a ledger Whivh Statement is correct
- T. Nix, Capital$ 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.Show the solution in good accounting form. Thank you! 1. How much should be shown in FIVE's 2021 income statement as gross rental income? a. ₱ 60,000 b. ₱ - 0 - c. ₱ 6,000 d. ₱ 30,000Identify the relevant transaction for this entry: Assets Owner’s equity Liabilities +R8000 +R8000 0 Received R8000 cash for debtors R8 000 cash paid for rent Cash sales of inventory R8 000 Received R8 000 cash for rent
- 1. What are the total Expenses under the single-step income statement? a. 389,816 b. $85,710 c. 856,589 d. $115,710 2. What is Net income? a. $ 85,710 b. $505,526 c. $972,299 d. $115,710 3. What is the other expenses? a. 18,500 b. 10,799 c. 16,198 d. 30,000Beginning 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.B 2. How to transfer this into excel using financial functions. : NPV = -4000 + 4000(P/F, i%, 48) + 6000(P/F, i%, 96) = 0 ; i = 1% i = 2%