Pts please refer to the partially completed worksheet

This preview shows page 3 - 6 out of 8 pages.

Question 81 / 1 ptsPlease refer to the partially completed worksheet below: Trial BalanceAdjustmentsAdjusted TrialBalanceIncomeStatementBalance SheetAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Cash$7,100    $7,100  Accounts receivable8,500  $2,000  10,500  Supplies100   $8020  Equipment7,500    7,500  Accumulated depreciation $2,000  240  $2,240  Notes receivable5,000    5,000  Accounts payable 1,200    1,200  Salary payable 800  180  980  Unearned revenue 600    Long-term debt 10,000    10,000  Capital 3,400    3,400  Drawing2,300    2,300  Service revenue 40,000  2,000  42,000  Salary expense24,000  180  24,180  $24,180  Supplies expense2,300  80  2,380  Depreciation expense1,600  240  1,840    $7,100    10,500    20    7,500    $2,240  5,000    1,200  980600    600  10,000  3,400  2,300  $42,000     2,380    1,840    
Interest revenue 400     $58,400$58,400$2,500 $2,500$60,820$60,820 $28,400 $42,400$32,420$18,42This worksheet is prepared for the financial statements dated December 31st, 20X2. The note receivable is due on January 15th, 20X4. The note payable is due on December 1st, 20X3. The company's operating cycle is six months. What are total current liabilities?400  400   0                      
Question 90 / 1 ptsPlease refer to the table below.Sales Returns and Allowances$2,400Sales Commissions$12,000Cost of Goods Sold$45,000Sales Revenue$127,000Utilities$4,500Rent$15,000Sales Discounts$1,500Salaries$25,000Gain on sale of equipment$4,000Freight Out$4,500Depreciation Expense$3,000Interest Revenue$300What is the operating income?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture