Question
At the end of last year, Ceasar Corp reported the following items on its balance sheet: Cash $100,000; Accounts Receivable $63,000; Supplies $164,000; Equipment $31,000;
At the end of last year, Ceasar Corp reported the following items on its balance sheet:
Cash $100,000; Accounts Receivable $63,000; Supplies $164,000; Equipment $31,000; Land $59,000; Buildings $258,000
Accounts Payable $92,000; Unearned Revenue $15,000; Note Payable (long-term) $79,000; Contributed Capital $22,000; Retained Earnings $XX.
Create T-accounts for all of the balance sheet accounts and the additional accounts Service Revenue, Rent Revenue, Wages Expense and Utilities Expense. Enter beginning balances. Record the current year's transactions from the list below and answer the question that follows.
a. Ordered merchandise inventory worth $183,000.------
b. Received $40,000 from customers who purchased goods on account last year
c. Issued additional shares of common stock and received $4,000
d. Received $464,000 for services performed.
e. Rented cleaning equipment to an employee, received $100 in payment.
f. Paid $54,000 owed to suppliers.
g. Recieved the merchandise ordered on credit (transaction a).
h. Received $18,000 from customers for services to be performed early next year.
i. Paid $5,000 in utility bills, $5,000 remains unpaid.
i. Paid $316,000 in wages to employees.
j. Declared and paid $46,000 in dividends to common stockholders.
How much is net income (-loss) for the current year?
At the end of last year, Ceasar Corp reported the following items on its balance sheet:
Cash $168,000; Accounts Receivable $61,000; Supplies $175,000; Equipment $40,000; Land $56,000; Buildings $311,000
Accounts Payable $115,000; Unearned Revenue $10,000; Note Payable (long-term) $82,000; Contributed Capital $49,000; Retained Earnings $XX.
Create T-accounts for all of the balance sheet accounts and the additional accounts Service Revenue, Rent Revenue, Wages Expense and Utilities Expense. Enter beginning balances. Record the current year's transactions from the list below and answer the question that follows.
a. Ordered merchandise inventory worth $147,000.
b. Received $33,000 from customers who purchased goods on account last year
c. Issued additional shares of common stock and received $3,000
d. Received $429,000 for services performed.
e. Rented cleaning equipment to an employee, received $100 in payment.
f. Paid $52,000 owed to suppliers.
g. Recieved the merchandise ordered on credit (transaction a).
h. Received $14,000 from customers for services to be performed early next year.
i. Paid $6,000 in utility bills, $3,000 remains unpaid.
i. Paid $284,000 in wages to employees.e
j. Declared and paid $43,000 in dividends to common stockholders.
How much are total assets (L(at the end of this year?
At the end of last year, Ceasar Corp reported the following items on its balance sheet:
Cash $142,000; Accounts Receivable $63,000; Supplies $169,000; Equipment $35,000; Land $53,000; Buildings $295,000
Accounts Payable $96,000; Unearned Revenue $19,000; Note Payable (long-term) $93,000; Contributed Capital $40,000; Retained Earnings $XX.
Create T-accounts for all of the balance sheet accounts and the additional accounts Service Revenue, Rent Revenue, Wages Expense and Utilities Expense. Enter beginning balances. Record the current year's transactions from the list below and answer the question that follows.
a. Ordered merchandise inventory worth $110,000.
b. Received $33,000 from customers who purchased goods on account last year
c. Issued additional shares of common stock and received $5,000
d. Received $510,000 for services performed.
e. Rented cleaning equipment to an employee, received $600 in payment.
f. Paid $63,000 owed to suppliers.
g. Recieved the merchandise ordered on credit (transaction a).
h. Received $15,000 from customers for services to be performed early next year.
i. Paid $5,000 in utility bills, $4,000 remains unpaid.
i. Paid $249,000 in wages to employees.
j. Declared and paid $57,000 in dividends to common stockholders.
How much is total stockholders' equity at the end of this year?
At the end of last year, Ceasar Corp reported the following items on its balance sheet:
Cash $198,000; Accounts Receivable $64,000; Supplies $153,000; Equipment $47,000; Land $62,000; Buildings $288,000
Accounts Payable $99,000; Unearned Revenue $19,000; Note Payable (long-term) $97,000; Contributed Capital $26,000; Retained Earnings $XX.
Create T-accounts for all of the balance sheet accounts and the additional accounts Service Revenue, Rent Revenue, Wages Expense and Utilities Expense. Enter beginning balances. Record the current year's transactions from the list below and answer the question that follows.
a. Ordered merchandise inventory worth $116,000.
b. Received $33,000 from customers who purchased goods on account last year
c. Issued additional shares of common stock and received $4,000
d. Received $520,000 for services performed.
e. Rented cleaning equipment to an employee, received $700 in payment.
f. Paid $70,000 owed to suppliers.
g. Recieved the merchandise ordered on credit (transaction a).
h. Received $10,000 from customers for services to be performed early next year.
i. Paid $5,000 in utility bills, $3,000 remains unpaid.
i. Paid $276,000 in wages to employees.
j. Declared and paid $38,000 in dividends to common stockholders.
How much are total liabilities at the end of this year?
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