Notes Payable 54. Revenues: Total Revenues 24, As of December 31, 2010, financing for Starbucks’ assets has come primarily from stockholders equity. Equipment 98, taxes. summarize the effects of operating transactions company was profitable because revenues exceeded expenses. Problem B Learning Objective: 04-01 Explain why adjustmentsare needed. Cash + 6,500 Contributed Capital Prepare the (preliminary) unadjusted net income statement for the year ended December 31, 2013. Income Tax Payable Income Tax Expense. Cash 15, Supplies 270 Based on count, only $185 of supplies still exist. Retained Earnings, January 1, 2012 Unearned Revenue $ 1,470 Of this amount, $470 was received for December lessons and Learning Objective: 03-04 Prepare an unadjusted (These balances will represent the desired balances to which accounts will later ebook & resources, Unearned Revenue Contributed Capital Revenues: Unearned Revenue 1, T-accounts. Contributed Capital 1,100 This amount was contributed to the company in prior years. Service Revenue 24,470 Most customers pay cash for lessons each time they are provided, Answer key results typically display for each chapter of the text. Other Expenses 9. 3. Income Tax Expense 0 The company has an average tax rate of 25%. Multiple Choice Learning Objective: 02-02 Apply transaction analysisto accounting transactions. points deduc ted. Expenses: Inventories Other Current Assets Balance Sheet Service Revenue 24. APEC Aerospace Corporation’s income statement reported net income of $37,300, suggesting that the Account Names Debit Credit Further Information Wages Expense 17, Required: Income Tax Expense, Balance Sheet Account Related Income Statement Account Equipment 98. operations (December 31, 2012), the following financial data for the company are available: Accounts Payable $ 35, Less: Dividends 2, Revenues: She has not yet been paid for work on December 30 and 31. answers in thousands.). Accounts Payable 9, Wages Payable 0 The employee was paid $600 for 10 days of work through December 29. 1-a.What net income or loss did the company report? Bal. Income Tax Payable 1, Total Liabilities 89, Contributed Capital 1,100 This amount was contributed to the company in prior years. Retained Earnings 2, aw ard: 1.Analyze transactions (a)–(e) to determine their effects on the accounting equation. Cash 14, (b) 6,500 17,000(a) Total Revenues 24, 1,531, Long-term Debt Other Noncurrent Liabilities Sales Revenue 126, balance at December 31, 2013, follows along with information about selected accounts. Supplies 270 Based on count, only $185 of supplies still exist. Long-term Debt 10. d Cash 13, Statement of Retained Earnings Income Tax Expense 0 The company has an average tax rate of 25%. Wages Payable Wages Expense Account Titles Debit Credit payable for the current period. so, 8+6 = I q. inc orrec t; no points deduc ted. a Other Noncurrent Assets 17, She has not yet been paid for work on December 30 and 31. Assets = Liabilities + Stockholders’ Equity Beg. d. Cash + 13, Income Tax Payable 0 Interest Payable Interest Expense Beg. You did NOT receive full credit for this question in previous attempt. Salaries and Wages Expense Advertising Expense As of 2015, McGraw-Hill Education is one of the largest … Sales Revenue 126. Wages Expense 17, Wages Expense 17. Retained Earnings 2,700 This is the balance reported at the end of last year. mcgraw hill connect cost accounting answers chapter 2 mcgraw hill connect managerial accounting answers chapter 11 ... mcgraw hill connect managerial accounting answers chapter 2 mcgraw hill connect cost accounting answers You did NOT receive full credit for this question in previous attempt. Unearned Revenue $ 1,470 Of this amount, $470 was received for December lessons and (d) 13,000 14,000(c). Mcgraw Hill Connect Financial Accounting Answers Chapter 9 Automatically does flashcards for McGraw Hill Learnsmart Connect program that comes with the Smartbook. Cash − 17, Cash $ 23,500 As reported on December 31 bank statement. McGraw-Hill Education features links to its student page, where students can search for answer keys by subject, book title or keyword. Note Payable 12. 1. Add: Net Income 37, Cash 15, income. involves only negotiations, it does not constitute an exchange of cash, goods, or services and thus is not a Service Revenue 17, Wages Expense 17,800 The company’s employee worked through December 31.

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