Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Web YouMail Login - StratusMLS DocuSign 30 Time Left:2:01:53 Navdeep Baring: Attempt 1 Next Page (22 questions, 35 marks) 4 Huimin Ltd. had the following

image text in transcribed
image text in transcribed
image text in transcribed
Web YouMail Login - StratusMLS DocuSign 30 Time Left:2:01:53 Navdeep Baring: Attempt 1 Next Page (22 questions, 35 marks) 4 Huimin Ltd. had the following account balances at Decer 7 0 23 Account Name Amount Dividends $2,500 Prepaid expenses 1,500 Interest expense 750 Website expense 600 Accounts receivable 17,300 Deferred revenue 850 Income tax expense 3,750 Collections from customers 37.945 Purchase of intangibles 1,020 Payments to suppliers 35,600 Travel expense 1.800 Retained earnings (beginning of year) 3,700 Payment of dividends 2,500 Insurance expense 2,400 Office supplies expense 350 Cash (beginning of year) 31,550 Service revenue 33,720 Cash received from debt 10.000 Prepaid insurance 1.200 26 29 Send a chat WhatsApp Web term Limit: 3.00.00 Time Left:2:01:40 Navdeep Baring: Attempt 1 10 11 13 14 16 17 19 20 Purchase of intangibles 1,020 Payments to suppliers 35,600 Travel expense 1,800 Retained earnings (beginning of year) 3,700 Payment of dividends 2,500 Insurance expense 2,400 Office supplies expense 350 Cash (beginning of year) 31,550 Service revenue 33,720 Cash received from debt 10,000 Prepaid insurance 1,200 Office supplies 975 Business licence 60 Cash (end of year) 47.875 Income tax payable 500 Owner's capital 21,000 Website design 960 Telephone expense 375 Contributions by owners 7.500 Accounts payable 12.625 Bank loan payable, due in 2025 10.000 Using the above information create the following: income retained earnings, balance sheet and the statement of cash information to answer the following questions. 22 23 25 26 28 29 Ostian91 giat Sad 7 x 18 On Send a chat : I need the Total expenses Profit before tax Net income Total current assets Total assets Total current liabilities Total liabilities Total equity Web YouMail Login - StratusMLS DocuSign 30 Time Left:2:01:53 Navdeep Baring: Attempt 1 Next Page (22 questions, 35 marks) 4 Huimin Ltd. had the following account balances at Decer 7 0 23 Account Name Amount Dividends $2,500 Prepaid expenses 1,500 Interest expense 750 Website expense 600 Accounts receivable 17,300 Deferred revenue 850 Income tax expense 3,750 Collections from customers 37.945 Purchase of intangibles 1,020 Payments to suppliers 35,600 Travel expense 1.800 Retained earnings (beginning of year) 3,700 Payment of dividends 2,500 Insurance expense 2,400 Office supplies expense 350 Cash (beginning of year) 31,550 Service revenue 33,720 Cash received from debt 10.000 Prepaid insurance 1.200 26 29 Send a chat WhatsApp Web term Limit: 3.00.00 Time Left:2:01:40 Navdeep Baring: Attempt 1 10 11 13 14 16 17 19 20 Purchase of intangibles 1,020 Payments to suppliers 35,600 Travel expense 1,800 Retained earnings (beginning of year) 3,700 Payment of dividends 2,500 Insurance expense 2,400 Office supplies expense 350 Cash (beginning of year) 31,550 Service revenue 33,720 Cash received from debt 10,000 Prepaid insurance 1,200 Office supplies 975 Business licence 60 Cash (end of year) 47.875 Income tax payable 500 Owner's capital 21,000 Website design 960 Telephone expense 375 Contributions by owners 7.500 Accounts payable 12.625 Bank loan payable, due in 2025 10.000 Using the above information create the following: income retained earnings, balance sheet and the statement of cash information to answer the following questions. 22 23 25 26 28 29 Ostian91 giat Sad 7 x 18 On Send a chat : I need the Total expenses Profit before tax Net income Total current assets Total assets Total current liabilities Total liabilities Total equity

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

More Books

Students also viewed these Accounting questions