Whispering Winds Corp. began the year with retained earnings of $321000. During the year, the company issued $422000 of common stock, recorded expenses of $1258000, and paid dividends of $79600. If Whispering's ending retained earnings was $341000, what was the company's revenue for the year?

Kingbird, Inc. recorded the following cash transactions for the year:

Paid $143000 for salaries.

Paid $55000 to purchase office equipment.

Paid $14800 for utilities.

Paid $5300 in dividends.

Collected $299000 from customers.

What was Kingbird's net cash provided by operating activities?

These are selected account balances on December 31, 2022.

Land$148000Land (held for future use)226500Buildings1056000Inventory249000Equipment660000Furniture156000Accumulated Depreciation450000

What is the total amount of property, plant, and equipment that will appear on the balance sheet?

$2545000

$1570000

$2095000

$1796500

Use the following data to determine the total dollar amount of assets to be classified as current assets.

Vaughn ManufacturingBalance SheetDecember 31, 2022Cash$186000

Accounts payable$210000Accounts receivable151000Salaries and wages payable26500Inventory173000Mortgage payable236500Prepaid insurance86500Total liabilities$473000Stock investments250000Land269000Buildings$303000Common stock$363500Less: Accumulated depreciation(63000)240000Retained earnings734000Goodwill215000Total stockholders' equity$1097500Total assets$1570500Total liabilities andstockholders' equity$1570500

$423500

$596500

$510000

$846500

If a company issues common stock for $48000 and uses $36000 of the cash to purchase a truck,

assets will be increased by $48000.

assets will be increased by $12000.

assets will be unchanged.

equity will be reduced by $48000

Windsor, Inc.'s trial balance reported the following balances at the end of its first year:

Cash$12040Prepaid insurance600Accounts receivable3010Accounts payable2410Notes payable3610Common stock4640Dividends600Revenues24940

Expenses15050

What amount did Windsor, Inc.'s trial balance show as total credits?

$35600

$36800

$35000

$36200

On July 1 the Whispering Winds Corp. paid $22080 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by the Whispering Winds Corp. is:

debit Rent Expense, $22080; credit Prepaid Rent, $18400.

debit Rent Expense, $22080; credit Prepaid Rent, $3680.

debit Prepaid Rent, $3680; credit Rent Expense, $3680.

debit Rent Expense, $3680; credit Prepaid Rent, $3680

Metlock, Inc. received a check for $16200 on July 1, which represents a 6-month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $16200. Financial statements will be prepared on July 31. Metlock's should make the following adjusting entry on July 31:

debit Rent Revenue, $2700; credit Unearned Rent Revenue, $2700.

debit Unearned Rent Revenue, $2700; credit Rent Revenue, $2700.

debit Unearned Rent Revenue, $16200; credit Rent Revenue, $16200.

debit Cash, $16200; credit Rent Revenue, $16200.