Accounting

Accounting -S This graded problem set is made up of multiple choice questions and problems related to what we have covered in weeks one through six. Please complete this Problem set assignment attached Place Your Order Here!

accounting hw:i can only pay 25 i can only pay 25   Place Your Order Here!

Accounting 202 Two Problems – Forten Company& GOLDEN CORPORATION GOLDEN CORPORATION Income Statement For Year Ended December 31, 2013 Sales $ 1,800,000 Cost of goods sold 1,088,000 Gross profit 712,000 Operating expenses Depreciation expense $ 53,000 Other expenses 499,000 552,000 Income before taxes 160,000 Income taxes expense 21,000 Net income $ 139,000 Additional Information on

Additional Information on Year 2013 Transactions a. Net income was $108,500. b. Accounts receivable increased. c. Merchandise inventory increased. d. Prepaid expenses decreased. e. Accounts payable decreased. f. Depreciation expense was $20,000. g. Sold equipment costing $46,500, with accumulated depreciation of $29,500, for $11,500 cash. This yielded a loss of $5,500. h. Purchased equipment costing $98,000 by paying $30,000 cash and (i.) by

Total liabilities and equity $ 514,340 $ 445,400 FORTEN COMPANY Income Statement For Year Ended December 31, 2013 Sales $ 582,500 Cost of goods sold 289,000 Gross profit 293,500 Operating expenses Depreciation expense $ 20,000 Other expenses 134,000 154,000 Other gains (losses) Loss on sale of equipment (5,500) Income before taxes 134,000 Income taxes expense

Liabilities and Equity Accounts payable $ 63,590 $ 111,000 Short-term notes payable 10,000 6,000 Long-term notes payable 62,500 48,250 Common stock, $5 par value 162,250 150,750 Paid-in capital in excess of par, common stock 34,500 0 Retained earnings 181,500 129,400 Place Your Order Here!

Problem 12-2AA Indirect: Cash flows spreadsheet LO P1, P2, P3, P4 Forten Company, a merchandiser, recently completed its calendar-year 2013 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable

Problem 3-8A Preparing closing entries, financial statements, and ratios C4 A2 A3 P3 P4 The adjusted trial balance for Tybalt Construction as of December 31, 2013, follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2013  No. Account Title Debit Credit 101   Cash $ 5,000 104   Short-term investments 23,000 126   Supplies 8,100 128   Prepaid insurance 7,000

Prepare the necessary adjusting journal entries for items a through h. Problem 3-3A Part 1 1. Prepare the necessary adjusting journal entries for items a through h. Problem 3-3A Part 2 2.1 Post the balance from the unadjusted trial balance and the adjusting entries to the T-accounts   2.2 Prepare an adjusted trial balance. Problem 3-3A

WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2013   Debit   Credit   Cash $ 34,000   Accounts receivable 0   Teaching supplies 8,000   Prepaid insurance 12,000   Prepaid rent 3,000   Professional library 35,000   Accumulated depreciation—Professional library $ 10,000   Equipment 80,000   Accumulated depreciation—Equipment 15,000   Accounts payable  26,000   Salaries payable 0   Unearned training fees 12,500   Common stock 10,000   Retained earnings 80,000