Account Golden Nursery School Trial Balance 1/31/2011 Cash Accounts Receivable Equipment Buses Notes Payable Accounts Payable T. Kuo, Capital Requirements Dr Balance 2,070 1,700 1,040 17,400 22,210 Cr L.Trial Balance il.Income Statement. 15,000 1,640 5,570 22,210 1.Prepare Journal Entries II.Prepare T accounts. Ill.Generate ending balances in T accounts IV.Prepare February Transactions Date Description Paid this month's rent, Received fees for this month's services Purchases supplies on account Re-imbursed bus driver for gas Ordered playground equipment Made a payment on account 2-Feb 3-Feb 4-Feb 5-Feb 6-Feb 8-Feb 9-Feb 10-Feb 11-Feb 13-Feb 17-Feb 19-Feb 22-Feb 26-Feb Paid part-time assistants for services 27-Feb Purchased gas and oil for bus on account 28-Feb Made a cash withdraw! Received payments from customer on account Billed customers who had not yet paid for this month's services Paid for supplies purchased on 2/2 Purchased and received playground equipment ordered on 2/6 for cash Purchsed equipment on account Paid this month's utility bill Received payment for the month's services from customers previously billed Amount 400 650 85 40 1,000 170 1,200 700 1,000 290 145 500 460 325 200

Account Golden Nursery School Trial Balance 1/31/2011 Cash Accounts Receivable Equipment Buses Notes Payable Accounts Payable T. Kuo, Capital Requirements Dr Balance 2,070 1,700 1,040 17,400 22,210 Cr L.Trial Balance il.Income Statement. 15,000 1,640 5,570 22,210 1.Prepare Journal Entries II.Prepare T accounts. Ill.Generate ending balances in T accounts IV.Prepare February Transactions Date Description Paid this month's rent, Received fees for this month's services Purchases supplies on account Re-imbursed bus driver for gas Ordered playground equipment Made a payment on account 2-Feb 3-Feb 4-Feb 5-Feb 6-Feb 8-Feb 9-Feb 10-Feb 11-Feb 13-Feb 17-Feb 19-Feb 22-Feb 26-Feb Paid part-time assistants for services 27-Feb Purchased gas and oil for bus on account 28-Feb Made a cash withdraw! Received payments from customer on account Billed customers who had not yet paid for this month's services Paid for supplies purchased on 2/2 Purchased and received playground equipment ordered on 2/6 for cash Purchsed equipment on account Paid this month's utility bill Received payment for the month's services from customers previously billed Amount 400 650 85 40 1,000 170 1,200 700 1,000 290 145 500 460 325 200

Name: AccountCashAccounts ReceivableEquipmentBusesNotes PayableGolden Nurse
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: AccountCashAccounts ReceivableEquipmentBusesNotes PayableGolden Nursery SchoolTrial Balance1/31/2011Accounts PayableT. Kuo, CapitalRequirementsBalanceDr2,0701,7001,04017,400Cr15,0001,6405,57022,210 22,210L.Trial Balanceii.Income Statementiii.Stateme

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter8: Liabilities And Stockholders' Equity

Section: Chapter Questions

Problem 8.1.2MBA

See similar textbooks

Similar questions

For each ofthe following accounts, identify whether that item is an asset, liability, or equity account.a. Bonds payableb. Equipmentc. Accounts payabled. Salaries payablee. Common stockf. Retained earningsg. Cashh. Accounts receivablei. Sales revenuej. Inventory
ly course FINA 415-1-202 General UNIT and For short term credit decisions which ratio is used? Select one: O a. Current Ratio O b. None O c. Savings ratio O d. Solvency ratio e. Return on Equity
Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $15. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Buildings Land Accounts Payable Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings $ 1,500,000 150,000 14,700 874,500 422,000 1,200,000 108,000 73,500 60,000 2,500,000 1,419,700 In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The January transactions are shown below: a. Received $50,000 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. b. Purchased 10 new computer servers for $33,500 on 1/2; paid $10,000 cash and signed a three-year note for the remainder owed. c. Paid $10,000 for an…
Guys could you please help me: I'm attaching AT&T's Balance Sheet and Income Statement for the analysis.I'd really appreciate help with the following: Perform a vertical financial analysis incorporatingi. Debt ratioii. Debt to equity ratioiii. Return on assetsiv. Return on equityv. Current ratiovi. Quick ratiovii. Inventory turnoverviii. Days in inventoryix. Accounts receivable turnoverx. Accounts receivable cycle in daysxi. Accounts payable turnoverxii. Accounts payable cycle in daysxiii. Earnings per share (EPS)xiv. Price to earnings ratio (P/E)xv. Cash conversion cycle (CCC), andxvi. Working capitalxvii. Explain Dupont identity, apply it to your selected company, interpret thecomponents in Dupont identity.
Find the following using the data bellow Accounts receivable = 111,100,000 Current assets = 316,500,000 Total assets = 600,000,000 A. Return on assets B. Common equity C .Quick ratio
MANCOSA POSTGRADUATE DIPLOMA IN PRORCT MANAGEMENT QUESTION REQUIRED Use the information provided below to calculate the following ratios. Where applicable, und e answers to two decimal places 111 Gross profe margin 312 Operating profit margin 31.3 invertory turnover period 31.4 Trade recelvatles peried 31.5 Trade payables period 31 316 Current ratio 3.1.7 Acid test ratio 3.18 Return on capital employed 32 Comment on the control ef debtors by Saturn imited Sugpest TWO 2) ways in which Saturn Limited can improve its operating profit margin. 33 INFORMATION Excerpts of financial data of Satum Limited for 2019 are as follows: STATEMENT OF COMPREHINSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2019 2600 00 Cost of sales Gros proft Operating profit 1400 000 600 000 40 000 S60 00 Interest expense Proft before tas Tan N STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: 2019 2008 ASSETS Non-current assets Inventories Accounts recelvable 780000 500 000 240 000 120 000 45L000 1250 p0 EQUITY AND…
"The following table summarizes the rules of debit and credit. For each of the items A through L, indicate whether the proper answer is a debit or a credit.IncreaseDecrease Normal BalanceBalance sheet accounts:AssetABDebitLiabilityCDebitDStockholders’ equity:Common StockCreditEFRetained EarningsGHCreditDividendsDebitCreditIIncome statement accounts:RevenueJKCreditExpenseLCreditDebit"
Answer the following question a. Return on equityb. Total assets turnoverc. Return on assetsd. Current ratioe. Receivables turnover
Balance Sheet Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (L.e., .2345 should be entered as 23.45). Assats Current assets Cash Income Statement Marketable securities Accounts receivable (net) Inventories Prepaid Items Total current assets Investments Plant (net) Land Total long-term assets Total assets Liabilities and stockholders' equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other FANNING COMPANY Vertical Analysis of Balance Sheeta Year 4 Total noncurrent liabilales Total abilities Stockholders' equity Preferred stock (par value $10, 4% cumulative, nonparticipating: 6,600 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity…
Definitional problems: Listed are 11 terms that relate to ratio analysis:1. Book value per share2.Inventoryturnover3. Debt-to-equity ratio4. Average collection period5. Average sales period6. Return on common equity7. Earnings per share8. Price/earnings ratio9. Return on total assets10. Current ratio11. Accounts-receivable turnoverChoose the financial ratio or term from the list that most appropriately completes each of the following statements:1. The__________ tends to have an effect on the market price per share asreflected in the price/earnings ratio.2. The__________ indicates whether a stock is relatively cheap or relativelyexpensive in relation to current earnings. 3. The________ measures the amount that would be distributed to holders of common stock if all assets were sold at their balance-sheet carrying amount and if all creditors were paid off.4. The_____________ is a rough measure of how many times a company'saccounts…
a. Return on equityb. Total assets turnoverc. Return on assetsd. Current ratioe. Receivables turnover
Required: 1. Express all of the asset, liability, and sales data in trend percentages. Use Year 1 as the base year. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) Sales Current assets: Cash Accounts receivable, net Inventory Total current assets Current liabilities Year 1 % % % % % % Year 2 % % % % % % Year 3 % % % % % % Year 4 % % % % % Year 5 % % % % %