Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help thank you!!! Please help!!! A business owner reported the following transactions for the first four months of her business starting on lon 1.2020 She

Help thank you!!!
image text in transcribed
image text in transcribed
Please help!!!
image text in transcribed
image text in transcribed
image text in transcribed
A business owner reported the following transactions for the first four months of her business starting on lon 1.2020 She invested $100.000 into the business account. She paid $3,000 for repairs. She received 540,000 from customers for service. There is an unpaid repair bill of $500. She paid 58.000 wages to her employees. She withdrew $10,000 for her personal use. She prepaid $1.200 for one year insurance on Jan 1, 2020. One of her customers owes her $2.000 for a completed service. Induded in $40,000 that she received from customer, is $1,000 prepaid by a customer for a service due in August. She has not provided that service yet. One of the employees who worked for 10 days 8 hours per day, $20 per hour, has not yet been paid yet Answer the following questions for April 30, 2020 a. How much is Insurance expense for the first four months? Ca $400 Ob 5.300 $800 Od 5100 b. How much is the balance of Prepaid Insurance? O 5400 C. $300 O 5000 Od 5100 c. How much is the amount of Unearned Revenue? 04.$2,000 Ob $3.000 &$1.000 Od $37.000 d. How much is the amount of A/R? a $4.000 Ob 55.000 Oc.5.000 Od: 22.000 e. How much revenue has she earned in the first four months of her business? Oa 538.000 O $19.000 Oc540,000 0541.000 t. How much each does her business own? C$100,000 Ob 5140,000 Oc5117.00 10.000 9. How much is the amount of the business assets? a $120,400 C. 5120,600 Oc5117.00 Od 13.00 h. How much is the amount of W/P? 1,600 O 39,000 C100 Od 5.600 How much cash does her business own? $100.800 C. $140.000 Oc5117.800 Od $110.000 g. How much is the amount of the business assets? Ca 5120.400 C6 $120,000 O$117.500 O $119.800 h. How much is the amount of W/P? Os $1.600 Ob 59.000 Oc 39.600 36.600 L. How much is Wages Expense? Ca 51,600 O. 59.000 Oc59.600 Od $6.000 J. How much is Repair Expense? O 3500 Ob 52,500 O5.500 Od 1000 k. How much Liabilities does her business have? a $3,500 Ob 2,100 Oc55.100 Od 1.600 L. How much is her business' total expenses? $13,500 Ob 23.500 OSM4300 05.000 m. How much is the amount of OE for her business? C$113.500 O $122.500 Oc1114.00 115.500 16 of 22) - Geogle Chrome attempt.php?attempte1411760.cmd=1509295&page=15 ion A business owner reported the following transactions for the first four months of her business starting on Jan 1, 2020: She invested $100,000 into the business account. She paid $3,000 for repairs. She received $40,000 from customers for service. There is an unpaid repair bill of $500. She paid $8,000 wages to her employees. She withdrew $10,000 for her personal use. She prepaid $1,200 for one year insurance on Jan 1, 2020. One of her customers owes her $2,000 for a completed service. Included in $40,000 that she received from customer, is $3,000 prepaid by a customer for a service due in August. She has not provided that service yetOne of the employees who worked for 10 days, 8 hours per day, $20 per hour, has not yet been paid yet. Answer the following questions for April 30, 2020: a. How much is insurance expense for the first four months? Ob. $300 Oc $800 Od $100 Oa $400 b. How much is the balance of Prepaid Insurance? Oa $400 Ob. $300 Oc$800 Od $100 c. How much is the amount of Unearned Revenue? Oa $2,000 Ob. $3,000 Oc $1,000 Od.537,000 d. How much is the amount of A/R? Oa. $4,000 Ob. $5,000 Oc. $3,000 Od $2,000 scato attempt.php?attempt 14117608cmid=1509295&page=15 Oa.$4,000 Ob. $5,000 Oc.$3,000 Od $2,000 e. How much revenue has she earned in the first four months of her business? Oa.$38,000 Ob. $39,000 Oc.$40,000 Od.$41,000 How much cash does her business own? Oa $100,800 Ob. $140,800 Oc.$117,800 Od.$119,900 g. How much is the amount of the business assets? Oa.$120,400 Ob. $120,600 Oc.$117,800 Od $119,800 h. How much is the amount of W/P? Oa $1,600 Ob. $9,000 Oc.$9,600 Od $6,600 1. How much is Wages Expense? Oa $1,600 Ob. $9,000 Oc.$9,600 Od.$6,600 J. How much is Repair Expense? Oa$500 Ob. $2,500 Oc:$3,500 Od $3,000 here to search sckpage 15 i. How much is Wages Expense? Oa $1,600 Ob. $9,000 Oc$9,600 Od.$6,600 j. How much is Repair Expense? Oa.$500 Ob. $2,500 Oc.$3,500 Od.$3,000 k. How much Liabilities does her business have? Oa.$3,500 Ob. $2,100 Oc.$5,100 Od.$1,600 1. How much is her business' total expenses? Oa.$13,500 Ob. $23,500 Oc$14,300 Od $15,800 m. How much is the amount of OE for her business? Oa $113,500 Ob. $123,500 Oc.$114,300 Od. $ 115,500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advances In Accounting Education Teaching And Curriculum Innovations Volume 23

Authors: Thomas G. Calderon

1st Edition

1789733944, 978-1789733945

More Books

Students also viewed these Accounting questions