Question
Talbridge Ltd. had the following account balances at December 31, 2021: Account Name or Activity Amount Repairs expense $1,125 Wages expense 21,350 Prepaid expenses 1,400
Talbridge Ltd. had the following account balances at December 31, 2021:
Account Name or Activity | Amount |
Repairs expense | $1,125 |
Wages expense | 21,350 |
Prepaid expenses | 1,400 |
Dividends | 3,500 |
Purchase of intangibles | 1,360 |
Cash (end of year) | 36,385 |
Deferred revenue | 1,500 |
Owner's capital | 12,000 |
Accounts payable | 12,810 |
Prepaid rent | 900 |
Collections from customers | 28,350 |
Rent expense | 2,100 |
Contributions by owners | 2,500 |
Accounts receivable | 17,155 |
Cash (beginning of year) | 16,890 |
Retained earnings (beginning of year) | 8,575 |
Interest expense | 900 |
Business licence | 60 |
Payment of dividends | 3,500 |
Website design | 1,300 |
Service revenue | 47,560 |
Cash received from debt | 12,500 |
Income tax expense | 4,450 |
Supplies | 2,550 |
Supplies expense | 1,845 |
Payments to suppliers | 18,995 |
Bank loan payable, due in 2025 | 12,500 |
Website expense | 500 |
Income tax payable | 575 |
What is Profit before Income Tax (also called Income before Income Tax) on this company's single step income statement? (2 points)
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What is Profit (also called Net Income) on this company's single step income statement? (2 points)
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What is ending Retained Earnings on this company's statement of retained earnings? (2 points)
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What is total current assets on this company's balance sheet? (2 points)
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What is total assets on this company's balance sheet? (2 points)
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What is total current liabilities on this company's balance sheet? (2 points)
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What is total liabilities on this company's balance sheet? (2 points)
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What is total equity on this company's balance sheet? (2 points)
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What is total cash flow from operating activities on this company's statement of cash flows? (2 points)
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What is total cash flow from investing activities on this company's statement of cash flows? (2 points)
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What is total cash flow from financing activities on this company's statement of cash flows? (2 points)
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What is the net change in cash on this company's statement of cash flows? (2 points)
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