11. What are the total assets for Shiver Ice House Common Stock <?xml:namespace
ID: 2365283 • Letter: 1
Question
11. What are the total assets for Shiver Ice House
Common Stock<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>
$120,000
Accounts Payable
$25,000
Cash
$116,640
Accounts Receivable
$22,450
Supplies
$ 1,500
Office Equipment
$23,300
Prepaid Rent
$ 3,200
Unearned Revenue
$ 4,152
Revenue
$ 20,000
Utilities Expense
$ 422
Retained Earnings
$ 30,000
Shaving Equipment
$31,640
A. $291,340
B. $106,962
C. $198,730
D. $218,730
E. $221,580
12. What is net income for Shiver Ice House
Common Stock
$120,000
Accounts Payable
$25,000
Cash
$116,640
Accounts Receivable
$22,450
Supplies
$ 1,500
Office Equipment
$23,300
Prepaid Rent
$ 3,200
Unearned Revenue
$ 4,152
Revenue
$ 20,000
Utilities Expense
$ 422
Retained Earnings
$ 30,000
Shaving Equipment
$31,640
A. $19,578
B. $20,528
C. $23,728
D. $49,578
E. $24,578
13. What is total for the debits on the Trial Balance for Shiver Ice House?
Common Stock
$120,000
Accounts Payable
$25,000
Cash
$116,640
Accounts Receivable
$22,450
Supplies
$ 1,500
Office Equipment
$23,300
Prepaid Rent
$ 3,200
Unearned Revenue
$ 4,152
Revenue
$ 20,000
Utilities Expense
$ 422
Retained Earnings
$ 30,000
Shaving Equipment
$31,640
A. $291,340
B. $106,964
C. $199,152
D. $193,390
E. $203.152
14. Find net income using the following transactions.1. Bill Co. paid $2,000 for one month rent
1.
Bill Co. paid $2,000 for one month rent
2.
Bill Co. paid $1,200 for two weeks wages
3.
Bill Co. performed $5,200 in consulting services on account
4.
Bill Co billed a customer $1,500 for services performed
5.
Bill Co. received $5,200 in payment for item 3
6.
Bill Co performed services and immediately collected $2,000
7.
Bill Co. paid $500 for advertising in the local paper
A. $10,200
B. $ 5,000
C. $ 8,700
D. $13,900
E. $ 7,000
Common Stock<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>
$120,000
Accounts Payable
$25,000
Cash
$116,640
Accounts Receivable
$22,450
Supplies
$ 1,500
Office Equipment
$23,300
Prepaid Rent
$ 3,200
Unearned Revenue
$ 4,152
Revenue
$ 20,000
Utilities Expense
$ 422
Retained Earnings
$ 30,000
Shaving Equipment
$31,640
Explanation / Answer
11 b 12 c 13 b 14 d
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.