Question
26 The following are the year-end account balances for 20XC (prior to closing) of CA Corporation: Cash $36,000 Accounts Receivable 45,000 Supplies 100 Equipment 665,000
26
The following are the year-end account balances for 20XC (prior to closing) of CA Corporation:
Cash
$36,000
Accounts Receivable
45,000
Supplies
100
Equipment
665,000
Accumulated depreciation
100,000
Accounts payable
12,000
Notes payable
125,000
Common stock
350,000
Retained earnings
114,300
Dividends
65,000
Service revenue
785,000
Salaries expense
498,000
Supplies expense
1,200
Rent expense
38,000
Depreciation expense
50,000
Miscellaneous expense
88,000
20. $___________Determine total expenses for the year
21. $___________Determine net income for the year
22. $___________ Determine ending retained earnings for the year
23. $___________ Determine ending total stockholders equity for the year
24. $___________Determine total Current Assets at the end of the year
25. $___________Determine Total Assets at the end of the year
26. Should Common stock be closed at year end?
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Auditing Information And Cyber Security Governance
Authors: Robert E Davis
1st Edition
1000416089, 9781000416084
