Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the following to answer questions 28 - 35 CCT Corporation has provided their trial balance at the end of January. Debits Credits Cash $110,000
Use the following to answer questions 28 - 35 CCT Corporation has provided their trial balance at the end of January. Debits Credits Cash $110,000 Accounts receivable 132,000 Supplies 400 Prepaid expenses 3,600 Buildings/Equipment, net 1,975,200 Accounts payable $63,200 Salaries payable 47,800 Utilities payable 2,400 Deferred revenue 18,000 Notes payable 900,000 Common stock 750,000 Retained Earnings 325,000 Dividends 65,000 Service revenue 1,185,000 Salaries expense 573,600 Insurance expense 24,000 Advertising expense 215,000 Supplies expense 3,300 Depreciation expense 124,500 Rent expense 36,000 Utilities expense 28.800 Totals $3,291,400 $3,291,400 Based on the data provided in the trial balance find the following: 28. $ _Determine Total expenses. 29. $ 30. $ _Determine Net income Determine Beginning Retained Earnings _Determine Ending Retained Earnings _Determine Total Stockholders' Equity 31. $ 32. $ 33. $ Determine Total Liabilities 34. $ Determine Total Assets 35. $ _At the beginning of January, CCT had $500,000 in its common stock account. How much stock was issued during January
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started