1. Of the? following, which is NOT reported on the Balance? Sheet? A. Depreciati

Question

1. Of the? following, which is NOT reported on the Balance? Sheet? A. Depreciation Expense B. equipment C. cash D. account payable

2.Express Barber gave 410 haircuts this past month. They charge? $15 per haircut. Expenses incurred during the month were? $3,900 wages,? $318 utilities/water, and? $270 shampoo/styling products.? $2,900 in wages were paid during the? month, the rest of the wageslong dash—along with the utilities and?shampoo/styling products were not paid during the month. What is Express? Barber's net income or loss for the? month?

A. Not enough information provided to calculate net income or loss B. ?$3,250 net income C. ?$1,662 net income D. ?$2,250 net income

3. Which of the following accounts would NOT appear on a postminus?closing trial? balance? A. Dividends B. Common Stock C. Accounts Receivable D. Dividends Payable

4. A company had a normal? $51,000 cash balance on their adjusted trial balance. If? revenues, expenses and dividends respectively were? $91,000; $20,000 and? $3,000 what amount of cash will be found on the postminus?closing trial? balance?

A. ?$122,000 normal balance B. ?$119,000 normal balance C. ?$51,000 normal balance D. ?$165,000 normal balance

Explanation / Answer

1) option a Depreciation expense 2) Service revenue (410*15) 6150 less:Expenses Wages 3,900 Utilities 318 Shampoo 270 4,488 net income 1,662 option c $1,662 3) option A Dividends 4) option c $51,000 normal balance

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.