Question
Use the following to answer questions 28 35 TJ Corporation has provided their trial balance at the end of January. Debits Credits Cash $70,000 Accounts
Use the following to answer questions 28 35
TJ Corporation has provided their trial balance at the end of January.
Debits | Credits | |
Cash | $70,000 |
|
Accounts receivable | 65,000 |
|
Supplies | 500 |
|
Prepaid expenses | 6,200 |
|
Buildings/Equipment, net | 1,308,600 |
|
Accounts payable |
| $32,000 |
Income tax payable |
| 22,000 |
Utilities payable |
| 3,500 |
Deferred revenue |
| 15,000 |
Notes payable |
| 250,000 |
Common stock |
| 500,000 |
Retained Earnings |
| 475,000 |
Dividends | 225,000 |
|
Service revenue |
| 985,000 |
Salaries expense | 375,000 |
|
Insurance expense | 12,000 |
|
Advertising expense | 125,000 |
|
Supplies expense | 3,200 |
|
Depreciation expense | 50,000 |
|
Rent expense | 24,000 |
|
Utilities expense | 18,000 |
|
Totals | $2,282,500 | $2,282,500 |
Based on the data provided in the trial balance find the following:
28. $____________Determine Total expenses.
29. $____________Determine Net income
30. $____________Determine Beginning Retained Earnings
31. $____________Determine Ending Retained Earnings
32. $____________Determine Total Stockholders Equity
33. $_____________Determine Total Liabilities
34. $_____________Determine Total Assets
35. $_____________At the beginning of January, the company had $400,000in its common stock account. How much stock was issued during January?
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