payables $ 34,500 receivable 83,120 Accumulated depreciation - equipment 103,900 Blaca Tierney , Capital 692,000 Cash? 300,000 Equipment 400,000 land Prepaid insurance 19,200 Prepaid rent 12,000 wages of 13,500 2080 supplies unearned fees 10,000
require adjustment. For each account that requires adjustment , indicate ( a) the type of adjusting entry ( prepaid expenses , unearned revenues , accrued revenues and accrued expenses ) and ( b ) the related account in the adjusting entry . account ( a) ( b ) represents recievable prepaid insurance accumulated depreciation of equipment interest payable Unearned service revenue
10 column work sheet for fiscal 2005 one . The supplies available at the end of fiscal 2005 at a cost of 3,200. b. The cost of expired insurance for the fiscal year 3900. c. Annual depreciation on equipment is 8,500 d. The June spending 550 utilities not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared . The amount owed must be registered 550 e. Employees of the company have won 1,600 of accrued wages at year end . f. The rent expense incurred and not yet paid or recorded at the end of the year-end is 200 . g. Taxes , plus 900 have been evaluated for the current fiscal year , but have not been paid or recorded in the accounts. h. The long-term bears interest at 1 % per month pay . The account unadjusted Interest Expense equals the amount paid for the first 11 months of fiscal 2005 . 240 accrued interest for June has not yet been paid or recorded. The company is obliged to 5,000
Balance Sheet Classification of Articles The following accounts appear in the spreadsheet of odds and ends craft store. Indicate the section of the classified balance sheet reporting in each account. BALANCE SHEET CLASSIFIED SECTIONS one. Assets Current b. Plant and Equipment c. Current Liabilities d. Long-term liabilities e. Fair Manual ACCOUNTS 1. Rentals payable 2. Cash 3. Julia Raja, Capital 4. Merchandise Inventory 5. Accounts payable 6. Store supplies 7. Sales Tax liability 8. prepaid insurance 9. Delivery Van 10. Accounts Receivable Prepare a classified income statement The sheet material Alec office contains the following revenues, costs and expense accounts. Prepare an income statement so classified by the company for the year ended December 31, 2010. The inventory of goods amounted to $ 58,775 on January 1, 2010, and $ 51.725 at December 31, 2010. Expense accounts through numbers represent 611,617 selling expenses, and the numbers 631 through 646 represent overhead and administrator. ACCOUNTS 401 Cr Sales $ 245,600. 451 Sales returns and allowances $ 4,250 Dr. Miscellaneous Income 491 $ 300 Cr. Purchases of $ 102 600 501 Dr. At $ 1,875 Cargo 501 Dr. 503 Purchases returns and allowances $ 3,500 Cr. Shopping Discounts 504 Cr $ 1,700. 611 Salaries Expense $ 44,300-Sale Dr. 614 Store Supplies Expense $ 2,210 Dr. 617 Depreciation Expense-Store Eqquipment $ 1,410 Dr. 631 rent expense $ 12,500 Dr. 634 Utilities Expense $ 2,900 Dr. 637 Salaries Expense $ 20,100 exercise Dr. 640 Payroll Tax Expense $ 5,000 Dr. 643 Depreciation Expense - Office Equipment $ 470 Dr. Doubtful accounts 646 $ 620 Expenses Dr. 691 $ 540 Interest Expense Dr.
BALANCE Sheet assets 14,000 cash 8000 recievable account Allowance for Doubtful Accounts 1200 5000 inventory 750 supply prepaid expenses 2.000 Total Current Assets = 28550 180000 buildgings Accumulated depreciation of buildings 60000 15,000 units accumulated depreciation team of 5000 Plant wholly owned and Equiptment = 130000 3000 patents Total assets = 133000 responsibility Accounts payable 11,000 unearned income 400 Total Current Liabilities = 11400 bonds payable 25,000 notes payable 15,000 Total responsibility = 51400 Equity 10,000 ordinary shares Additional paid in capital of 5000 32150 retained earnings 5000 dividends Equity = 42150 Liability + Equity shareholders Assets = LIABILTY + shareholder equity INCOME Statement sales of 225,000 72000 cost of sales Profit margin = 153000 Rent expense 18,000 depriciation spending of 10,500 the salaries of 45,000 expenses Insurance costs of 6000 utilities expense 4800 Operating income = 84300 interest income 500 interest expense 1,200 Net income 82,600
What are the different accounts to go through the balance sheet and what happens below the nominal section . I'm in grade 10
I have the following items for use in a balance sheet and cash flow statement . Renting, take home , Cash in checking account, savings account balance , expenditure on food , education loan balance , the current car , phone bill , credit card balance , loan payments , car insurance , household items , stereos , payment of electricity , lunches, gifts, home computer , the value of stock investing , buying clothes , restaurant spending I know how to do both the balance sheet and cash flow, except to decide which item to use . I'm thinking I have the Balance Sheet Assets : take home , cash in the checking account , savings account balance, the value of the car , appliances , stereo , computer, value of investment in shares Liabilities: . Income through food , balancing education loan , phone bill , credit card balance , loan payments, auto insurance , payment of electricity , lunches , gifts , buy clothes and restaurant spending Now , I am a bit struggling with cash flow statement . Is the following right ? Cash Flow: home pay Cash outflow : rent, food expenses , telephone charges , payday loan , auto insurance , payment of electricity , lunches , gifts , clothes shopping , restaurant spending Is all this true ? I'm starting to understand more time thinking about it more .
I have to do the following ::: balance ( you can give me an email to - email@example.com > ) :::::::::: Accounts Payable - > 85800 Accounts receivable - > 106,000 accumulated depreciation
Dilip Kumar MR MATHUR CUSTOMER NO . POLICY NO 28005203 . PRODUCT NAME 56003643903 SBI LIFE INSURANCE SMART FLEXI
Land $9000 Note Payable 32.000 Property tax expense 2.500 Withdrawals 28000 Rent Expense 11000 Salary expense 66.000 Salary Payable 800 Service Revenue 189.000 Supplies 6.000 Tom English, Capital 76000 Accounts payable 11000 Accounts receivable 4000 Advertising expense 19000 Building 128.100 Cash 9000 Equipment 18000 Insurance expense 2200 Interest expense 6000 Assets Liabilities Cash $9.000 Note Payable $32.000 Supplies $6.000 Accounts Payable $11.000 Land $9.000 Salary Payable $800 Building $128.100 Owner's Equity Equipment $18.000 Tom English, Capital $76.000 Accounts Receivable $4.000 Total Assets $174.100 Right side is i think wrong . What's missing for correct balance sheet?
I have the following 1st year net income statement but i am unable to make balance sheet: NET INCOME: Units Sold 11,601 Cost Price Per Unit 5,502.583333 Sale Price Per Unit 120,000 Sales 1,392,080,034 Direct Cost of Sales 63,833,637 Other Production Expenses 0 Total Cost of Sales 63,833,637 Gross Margin 1,328,246,397 Gross Margin % 95.41% Expenses Payroll 36,000,000 Sales and Marketing and Other Expenses 360,000,000 Depreciation Expense 2,333,333 Leased Equipment 0 Utilities 37,140,000 Health Insurance 24,000,000 Office Rent 132,000,000 Payroll Taxes 0 Other Production Expenses 0 Total Operating Expenses 591,473,333 Profit Before Interest and Taxes 736,773,064 EBITDA Interest Expense 0 Taxes incurred 12,000,000 Net Profit 724,773,064 Net Profit/Sales 52.06% The business was started off with 75,000,000 of which 35,000,000 were self funded and 40,000,000 are accounts payable in 1 year. 12000 Goods were purchased at a price of 5502.583333 of which 11601 were sold Equipment purchased amounted to 7,000,000 with a straight line depreciation for 3 years. Sales are estimated to increase by 12 percent yearly
I think i miss something when i prepare a balance sheet. These are the assets, liabilities, and owners equity. Land $9000 Note Payable 32.000 Property tax expense 2.500 Withdrawals 28000 Rent Expense 11000 Salary expense 66.000 Salary Payable 800 Service Revenue 189.000 Supplies 6.000 Tom English, Capital 76000 Accounts payable 11000 Accounts receivable 4000 Advertising expense 19000 Building 128.100 Cash 9000 Equipment 18000 Insurance expense 2200 Interest expense 6000 If you click below link, you will see a balance sheet which is wrong http://img692.imageshack.us/img692/3513/aaasm.gif What's wrong ?