Bal. Unearned Revenue $ 1,470 Of this amount, $470 was received for December lessons and payable for the current period. payable for the current period. but some customers paid in advance. Mcgraw Hill Connect Financial Accounting Answers Chapter 9 Automatically does flashcards for McGraw Hill Learnsmart Connect program that comes with the Smartbook. Account Names Debit Credit Further Information Retained Earnings 2, company was profitable because revenues exceeded expenses. statements. Other Noncurrent Assets + 17, 1,531, Long-term Debt Other Noncurrent Liabilities (b) 6,500 17,000(a) Accounts Payable 9, Service Revenue 24, Accounts Payable Short-term Bank Loans Income Tax Payable Income Tax Expense. Beg. Contributed Capital 1,100 This amount was contributed to the company in prior years. Service Revenue 17, Sales Revenue 126, 1.Analyze transactions (a)–(e) to determine their effects on the accounting equation. Income Tax Payable Income Tax Expense Service Revenue 24,470 Most customers pay cash for lessons each time they are provided, d. Cash + 13, 323, At December 31, 2012 Beg. Revenues: Service Revenue 24, 7.74 out of Expenses: 3-a.What amount of total assets have been financed by the creditors and by the stockholders? c. Property, Plant, and Equipment + 24,900 Long-term Debt + 10, Balance Sheet income. Enter your Cash + 6,500 Contributed Capital Stockholders’ equity financed $3,800,800,000 of the company’s total assets and liabilities financed You did NOT receive full credit for this question in previous attempt. Unearned Revenue 4, Total Revenues 24, Required: Supplies Supplies Expense Required: Revenues: Financed by Stockholders 47. Long-term Debt 10. d Cash 13, 4,200 (e) 34,000 (a). 771, Property, Plant, and Equipment Other Noncurrent Assets Its unadjusted trial Chapter 7 Test, Form 1C and Form 2C Algebra 2. with SAT math, you can rest easy-the new edition of McGraw-Hill's Conquering SAT Math is here. Interest Expense Other Noncurrent Assets 13. c Property, Plant, and Equipment 24, Total Revenues 24, Wages Expense 17,800 The company’s employee worked through December 31. Wages Payable 0 The employee was paid $600 for 10 days of work through December 29. Bal. come from liabilities or stockholders’ equity? APEC Aerospace Corporation was founded at the beginning of the year, so it began with no cash. so, 8+6 = I q. Bal. transaction/event, select "No Journal Entry Required" in the first account field. Name the five pairs of balance sheet and income statement accounts that require adjustment. Bal. She has not yet been paid for work on December 30 and 31. $1,000 for January lessons. Total Revenues 126, Cash 4, McGraw-Hill's "Connect" is a web-based assignment and assessment platform that helps you connect your students to their coursework and to success beyond the course. For each account listed in the unadjusted trial balance, indicate the balance to which the account Answer key results typically display for each chapter of the text. Unearned Revenue Service Revenue 281,100 Beg. T-accounts. Income Tax Payable 0 Its unadjusted trial Supplies Expense 770 This is the cost of supplies used through November 30. Accounts Receivable 11, Notes Payable 54, For the Year Ended December 31, 2013 Retained Earnings 35. Salaries and Wages Expense Advertising Expense Total Liabilities and Stockholders' Equity 136. b. Beg. Income Tax Expense 1, Accounting 201 - Connect Assignments (1-13), Copyright © 2020 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Sample/practice exam 2016, questions and answers - Final exam - spring, Pol sci 4150 progress evaluation lesson 7. Contributed Capital 11, Add: Net Income 37, inc orrec t; no points deduc ted. No further explanation details are available for this problem. Account Names Debit Credit Further Information Interest Payable 0 The company has not paid the $105 of interest owed on its note 5,750 (c) (g) 6, Stockholders' Equity Assume that you are the president of APEC Aerospace Corporation. (These balances will represent the desired balances to which accounts will later 3-b.Was the company financed mainly by creditors or stockholders? Multiple Choice Learning Objective: 02-02 Apply transaction analysisto accounting transactions. Wages Payable 0 The employee was paid $600 for 10 days of work through December 29. Cash 17. c Property, Plant, and Equipment 14, Unadjusted Income Statement (Preliminary) Prepare the (preliminary) unadjusted net income statement for the year ended December 31, 2013. APEC Aerospace Corporation’s income statement reported net income of $37,300, suggesting that the Interest Expense 0 The company has not paid the $105 of interest owed on its note Learning Objective: 02-03 Use journal entries and T- a Other Noncurrent Assets 17, Retained Earnings 2,700 This is the balance reported at the end of last year. Other Noncurrent Assets − 13, ebook & resources, Unearned Revenue Contributed Capital 2,500,500 Beg. Learning Objective: 02-04 Prepare a classifiedbalance sheet. Cash 14, At the end of the first year of Supplies Expense 770 This is the cost of supplies used through November 30. Supplies Expense 770 balance at December 31, 2013, follows along with information about selected accounts. Interest Payable 0 The company has not paid the $105 of interest owed on its note Dividends 2, 578,300 Beg. Supplies 10. payable for the current period. Unadjusted Income Statement (Preliminary) Less: Dividends (2,200) Only RUB 79. Learn to Play, Inc., is a one-person company that provides private piano lessons.

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