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expenses. k BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Revenues ces 0 Total revenues Expenses Total expenses $ 0 Required Required

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expenses. k BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Revenues ces 0 Total revenues Expenses Total expenses $ 0 Required Required 4B > expenses. k BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Revenues ces 0 Total revenues Expenses Total expenses $ 0 Required 4 Required 4B > Santana Rey created Business Solutions on October 1, 2019. The company has been successful and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts Debit $48,472 Credit Cash Lt Corp 3,600 2,810 106.9 brer Prepaid rent office 164 No. Account Title 101 106.1 Alex's Engineering Co. 106.2 Wildcat Services 106.3 Easy Leasing IFK Co. 106.5 106.6 Gomez Co. 10.7 Delta Co. KC Inc. 119 Merchandise inventory 126 140 Prepaid insurance 13 163 equipment Accumulated depreciation office equipment 167 Computer equipment 168 Accumulated depreciation-Computer equipment 201 210 Wages payable Accounts payable 236 Umearned computer services revenue 383 S. Rey, Capital 312 5. Rey. Withdrawals 483 Computer services revenue 413 Sales 434 Sales returns and allowance 415 Sales discounts 582 Cost of goods sold 612 Depreciation expense-office equipment 613 Depreciation expense-Computer net 023 Wages expense surance sense 540 Rent expense 552 Computer supplies expense 855 Advertising Expense 730 1,881 895 8.200 20,900 $ 290 1,200 1,280 820 1,500 81,846 00 Prev 10 11 of 11 Next > MacBook Air BE 26 DIL DD 3 $ 4 % 5 . 6 7 8 9 0 W E R T Y Y U 1 0 D F G H J L Y C V D Return 652 655 676 677 684 Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of 1/10, 1/30, FOB shipping point to all customers who purchase this merchandise. However, no cash discount is available on consulting fees. Additional accounts (Nos. 119,413, 414, 415, and 502) are added to its general ledger to accommodate the company's new merchandising activities. Its transactions for January through March follow: Jan. 4 The company paid cash to Lyn Addie for five days' work at the rate of $2e5 per day. Four of the five days relate to wages payable that were accrued in the prior year. 5 Santana Rey invested an additional $24.900 cash in the company. 7 The company purchased $7,100 of merchandise from Kansas Corp. with terns of 1/10, 1/30, FOB shipping point, invoice dated January 7. 9 The company received $2,818 cash from Gomez Co. as full payment on its account. 11 The company completed a five-day project for Alex's Engineering Co. and billed it 55,362, which is the total price of 56,860 less the advance payment of $1,5ee. The company debited Unearned Computer Services Revenue for $1,500. 13 The company sold merchandise with a retail value of $4,300 and a cost of $3,490 to Liu Corp., Invoice dated January 13 15 The company paid $610 cash for freight charges on the merchandise purchased on January 7. 16 The company received $4,100 cash from Delta Co, for computer services provided. 17 The company paid Kansas Corp. for the invoice dated January 7, net of the discount. 20 The conpany gave a price reduction (allowance) of $400 to Liu Corp., and credited Liu's accounts receivable for that anunt. 22 The 24 The company returned defective merchandise to Kansas Corp. and accepted a credit against future company received the balance due from Liu Corp., net of the discount and the allowance. purchases (debsted accounts payable. The defective merchandise invoice cost, net of the discount, 3496. company purchased 59.900 of merchandise from Kansas Corp. with terms of 1/20, 130, FOB The company sold merchandise with = 54,458 cost for $6,000 on credit to KC, Inc., Invoice dated teh. 1 The company paid 52,685 cash to Meltside wall for another three months' rent in advance. 3. The company paid cash te Lyn Addle for 10 days' work at $20 per day. 3 The company paid Kansas Corp. for the balance due, net of the cash discount, less the 5496 credit 5 The company paid $450 cash to Facebook for an advertisement to appear on February S only. 11 The company received the balance due from Alex's Engineering Co. for fees billed on January 11. 15 Santana Rey withdrer 54.78 cash from the company for personal use. 91 The end rhandise with 0.69 rnct for credit to Delta one date was 26 The 26 The com 9 MacBook Air 80 23 Dil DD + $ FT 3 * . 6 & 7 8 9 0 E R T Y U 0 { [ D F Chandise returned on January 24. Feb Sold merchandise with a $2.628 cost for $3.280 on credit to Delta Co., Invoice dated destination, Invoice o ceo January 2o. 26 The company sold merchandise with a $4,450 cost for 55.000 on credit to KC, Inc., Invoice dated January 26. 31 The company paid cash to Lyn Addie for 1 days' work at $205 per day. Feb. 1 The company paid $2,685 cash to Hillside Mall for another three months' rent in advance. The paid Kansas Corp. for the balance due, net of the cash discount, less the 5496 credit from The company pod 450. casa to Facebook for an advertisement to appear on February 5 only. 1. The company received the balance due fron Alex's Engineering Co. for fees billed on January 11. 13 Santana Rey withdrew 54,788 cash from the company for personal use. 23 The 2. 26 The company paid cash to Lyn Addie for eight days' work at $285 per day. 27 The company reimbursed Santana Rey 396 for business automobile sileage. The company recorded the Mar. The company purchased $2,770 of computer supplies from Harris office Products on credit with terms of 9 The company received the balance due from Delta Co. for merchandise sold on February 23. The received $5,438 cash from Dream, Inc., for computing services provided. 19 The company paid the full amount due of $4.50 to Harris Office Products, consisting of mounts created on December 15 of $1,280) and March 8. 24 The company billed Easy Leasing for 59,067 of computing services provided. 25 The company sold terchandise with $7,012 cost for $2.918 on credit to Wildcat Services, Invoice 30 The company sold merchandise with a $1.078 cost for 52,370 credit to ITM Company, Invoice dated 31 The company reimbursed Santana Rey 5224 for business automobile sileage. The company recorded the reimbursement as Mileage Expense." 15 company received The following additional facts are wilable for preparing adjustments on March 31 prior to financial statement preparation a. The March 31 amount of computer supplies still available totals $2.065 . Prepaid Insurance coverage of 5627 expired during this 3-month period clyn Addie has not been paid for seven days of work at the rate of $205 per day d. Prepaid rent of $2585 expired during this month period e. Depreciation on the computer equipment for January through March 31 is $1200 Depreciation on the office equipment for January through March 315 $290 The March 31 amount of merchandise inventory still available total $534 9 10 of 11 Next > MacBook Air E: Ol $ 3 4 & 5 6. C 7 8 9 ) 0 DI E R T Y U I 0 { I D F G H J K L I C V B M Check my work mode: This shows what is correct or Incorrect for the work you have completed so far. It does not indicate completion Ret a. The March 31 amount of computer supplies still available totals $2,065 b. Prepaid insurance coverage of $627 expired during this 3-month period c Lyn Addle has not been paid for seven days of work at the rate of $205 per day d. Prepaid rent of $2.685 expired during this 3-month period e Depreciation on the computer equipment for January through March 31 is 51200 Depreciation on the office equipment for January through March 31 is $290 g. The March 31 amount of merchandise inventory still available totals $534 4. Prepare an income statement from the adjusted trial balance in part 3) for the three months ended March 31, 2018. Use a single- step format. List all expenses without differentiating between selling expenses and general and administrative expenses. Use a single-step format Ust all expenses without differentiating between selling expenses and general and administrative expenses Use a multiple-step format that begins with gross sales service revenues plus gross product sales and includes separate Categories for net sales, cost of goods sold selling expenses, and general and administrative expenses. Categorize the following accounts as selling expenses: Wages Expense, Mileage Expense and Advertising Expense. Categorize the remaining expenses as general and administrative Answer is not complete. Complete this question by entering your answers in the tabs below. Regred A Ruined 48 Prepare an income statement to the adjusted trance in part 3) for the three months ended March 31, 2018 One single-step format. Ustalenses without differentiating between seling expenses and general and administrative BUSINESS SOLUTIONS For The Month Endedah 10 MacBook Air FE a es 3 S 4 5 6 & 7 8 9 ) 0 W E R T Y U o P { D F G H L C V B B N V M ? expenses. k BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Revenues ces 0 Total revenues Expenses Total expenses $ 0 Required Required 4B > expenses. k BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Revenues ces 0 Total revenues Expenses Total expenses $ 0 Required 4 Required 4B > Santana Rey created Business Solutions on October 1, 2019. The company has been successful and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts Debit $48,472 Credit Cash Lt Corp 3,600 2,810 106.9 brer Prepaid rent office 164 No. Account Title 101 106.1 Alex's Engineering Co. 106.2 Wildcat Services 106.3 Easy Leasing IFK Co. 106.5 106.6 Gomez Co. 10.7 Delta Co. KC Inc. 119 Merchandise inventory 126 140 Prepaid insurance 13 163 equipment Accumulated depreciation office equipment 167 Computer equipment 168 Accumulated depreciation-Computer equipment 201 210 Wages payable Accounts payable 236 Umearned computer services revenue 383 S. Rey, Capital 312 5. Rey. Withdrawals 483 Computer services revenue 413 Sales 434 Sales returns and allowance 415 Sales discounts 582 Cost of goods sold 612 Depreciation expense-office equipment 613 Depreciation expense-Computer net 023 Wages expense surance sense 540 Rent expense 552 Computer supplies expense 855 Advertising Expense 730 1,881 895 8.200 20,900 $ 290 1,200 1,280 820 1,500 81,846 00 Prev 10 11 of 11 Next > MacBook Air BE 26 DIL DD 3 $ 4 % 5 . 6 7 8 9 0 W E R T Y Y U 1 0 D F G H J L Y C V D Return 652 655 676 677 684 Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of 1/10, 1/30, FOB shipping point to all customers who purchase this merchandise. However, no cash discount is available on consulting fees. Additional accounts (Nos. 119,413, 414, 415, and 502) are added to its general ledger to accommodate the company's new merchandising activities. Its transactions for January through March follow: Jan. 4 The company paid cash to Lyn Addie for five days' work at the rate of $2e5 per day. Four of the five days relate to wages payable that were accrued in the prior year. 5 Santana Rey invested an additional $24.900 cash in the company. 7 The company purchased $7,100 of merchandise from Kansas Corp. with terns of 1/10, 1/30, FOB shipping point, invoice dated January 7. 9 The company received $2,818 cash from Gomez Co. as full payment on its account. 11 The company completed a five-day project for Alex's Engineering Co. and billed it 55,362, which is the total price of 56,860 less the advance payment of $1,5ee. The company debited Unearned Computer Services Revenue for $1,500. 13 The company sold merchandise with a retail value of $4,300 and a cost of $3,490 to Liu Corp., Invoice dated January 13 15 The company paid $610 cash for freight charges on the merchandise purchased on January 7. 16 The company received $4,100 cash from Delta Co, for computer services provided. 17 The company paid Kansas Corp. for the invoice dated January 7, net of the discount. 20 The conpany gave a price reduction (allowance) of $400 to Liu Corp., and credited Liu's accounts receivable for that anunt. 22 The 24 The company returned defective merchandise to Kansas Corp. and accepted a credit against future company received the balance due from Liu Corp., net of the discount and the allowance. purchases (debsted accounts payable. The defective merchandise invoice cost, net of the discount, 3496. company purchased 59.900 of merchandise from Kansas Corp. with terms of 1/20, 130, FOB The company sold merchandise with = 54,458 cost for $6,000 on credit to KC, Inc., Invoice dated teh. 1 The company paid 52,685 cash to Meltside wall for another three months' rent in advance. 3. The company paid cash te Lyn Addle for 10 days' work at $20 per day. 3 The company paid Kansas Corp. for the balance due, net of the cash discount, less the 5496 credit 5 The company paid $450 cash to Facebook for an advertisement to appear on February S only. 11 The company received the balance due from Alex's Engineering Co. for fees billed on January 11. 15 Santana Rey withdrer 54.78 cash from the company for personal use. 91 The end rhandise with 0.69 rnct for credit to Delta one date was 26 The 26 The com 9 MacBook Air 80 23 Dil DD + $ FT 3 * . 6 & 7 8 9 0 E R T Y U 0 { [ D F Chandise returned on January 24. Feb Sold merchandise with a $2.628 cost for $3.280 on credit to Delta Co., Invoice dated destination, Invoice o ceo January 2o. 26 The company sold merchandise with a $4,450 cost for 55.000 on credit to KC, Inc., Invoice dated January 26. 31 The company paid cash to Lyn Addie for 1 days' work at $205 per day. Feb. 1 The company paid $2,685 cash to Hillside Mall for another three months' rent in advance. The paid Kansas Corp. for the balance due, net of the cash discount, less the 5496 credit from The company pod 450. casa to Facebook for an advertisement to appear on February 5 only. 1. The company received the balance due fron Alex's Engineering Co. for fees billed on January 11. 13 Santana Rey withdrew 54,788 cash from the company for personal use. 23 The 2. 26 The company paid cash to Lyn Addie for eight days' work at $285 per day. 27 The company reimbursed Santana Rey 396 for business automobile sileage. The company recorded the Mar. The company purchased $2,770 of computer supplies from Harris office Products on credit with terms of 9 The company received the balance due from Delta Co. for merchandise sold on February 23. The received $5,438 cash from Dream, Inc., for computing services provided. 19 The company paid the full amount due of $4.50 to Harris Office Products, consisting of mounts created on December 15 of $1,280) and March 8. 24 The company billed Easy Leasing for 59,067 of computing services provided. 25 The company sold terchandise with $7,012 cost for $2.918 on credit to Wildcat Services, Invoice 30 The company sold merchandise with a $1.078 cost for 52,370 credit to ITM Company, Invoice dated 31 The company reimbursed Santana Rey 5224 for business automobile sileage. The company recorded the reimbursement as Mileage Expense." 15 company received The following additional facts are wilable for preparing adjustments on March 31 prior to financial statement preparation a. The March 31 amount of computer supplies still available totals $2.065 . Prepaid Insurance coverage of 5627 expired during this 3-month period clyn Addie has not been paid for seven days of work at the rate of $205 per day d. Prepaid rent of $2585 expired during this month period e. Depreciation on the computer equipment for January through March 31 is $1200 Depreciation on the office equipment for January through March 315 $290 The March 31 amount of merchandise inventory still available total $534 9 10 of 11 Next > MacBook Air E: Ol $ 3 4 & 5 6. C 7 8 9 ) 0 DI E R T Y U I 0 { I D F G H J K L I C V B M Check my work mode: This shows what is correct or Incorrect for the work you have completed so far. It does not indicate completion Ret a. The March 31 amount of computer supplies still available totals $2,065 b. Prepaid insurance coverage of $627 expired during this 3-month period c Lyn Addle has not been paid for seven days of work at the rate of $205 per day d. Prepaid rent of $2.685 expired during this 3-month period e Depreciation on the computer equipment for January through March 31 is 51200 Depreciation on the office equipment for January through March 31 is $290 g. The March 31 amount of merchandise inventory still available totals $534 4. Prepare an income statement from the adjusted trial balance in part 3) for the three months ended March 31, 2018. Use a single- step format. List all expenses without differentiating between selling expenses and general and administrative expenses. Use a single-step format Ust all expenses without differentiating between selling expenses and general and administrative expenses Use a multiple-step format that begins with gross sales service revenues plus gross product sales and includes separate Categories for net sales, cost of goods sold selling expenses, and general and administrative expenses. Categorize the following accounts as selling expenses: Wages Expense, Mileage Expense and Advertising Expense. Categorize the remaining expenses as general and administrative Answer is not complete. Complete this question by entering your answers in the tabs below. Regred A Ruined 48 Prepare an income statement to the adjusted trance in part 3) for the three months ended March 31, 2018 One single-step format. Ustalenses without differentiating between seling expenses and general and administrative BUSINESS SOLUTIONS For The Month Endedah 10 MacBook Air FE a es 3 S 4 5 6 & 7 8 9 ) 0 W E R T Y U o P { D F G H L C V B B N V M

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