Non Negotiable Price, accounting homework help

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Non Negotiable Price.

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FIB - 1 Question 1 (18 points) The following is the Bravo Unlimited unadjusted Trail Balance. Bravo Unlimited Adjusted Trial Balance December 31, 2016 Account Title Debit Cash $88,450 Accounts Receivable 331,860 Supplies 6,255 Prepaid Rent 11,000 Equipment 295,285 Accumulated Depreciation Accounts Payable Wages Payable Capital Stock Retained Earnings Service Revenue Interest Income Rent Expense 60,500 Wages Expense 527,260 Supplies Expense 42,520 Utilities Expense 8,595 Depreciation Expense 144,000 Interest Expense 6,840 Totals $1,522,565 Credit $224,260 72,555 0 220,000 111,145 893,105 1,500 _______ $1,522,565 Adjusting Items: 1. The prepaid rent covers December 2016 & January 2017 rents. 2. December depreciation on equipment is $12,000 per month. 3. At year end Wages of $10,300 were earned but unpaid. Use this information to determine the adjusted account balances for the following: 1. Cash 2. Prepaid Rent 3. Equipment 4. Accumulated Depreciation 5. Wages Payable 6. Rent Expense 7. Wages Expense 8. Depreciation Expense Question 1 options: GJ - 2 Question 2 (15 points) The following is the Bravo Unlimited adjusted Trail Balance. Bravo Unlimited Unadjusted Trial Balance December 31, 2016 Account Title Debit Credit Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Wages Payable Capital Stock Retained Earnings Service Revenue Interest Income Rent Expense Wages Expense Supplies Expense Utilities Expense Depreciation Expense Interest Expense Totals $88,450 331,860 11,255 5,500 295,285 $236,260 72,555 10,000 220,000 111,145 898,105 1,500 66,000 537,260 42,520 8,595 156,000 6,840 $1,549,565 ________ $1,549,565 Prepare the general journal entry (without explanation) needed to close the revenue(s) for the year end. Use compound entries where required. If no entry is required then write "No Entry Required." Question 2 options: Skip Toolbars for . More Insert actions. More Text actions. More Paragraph Style actions. GJ - 3 Question 3 (30 points) The following is the Bravo Unlimited adjusted Trail Balance. Bravo Unlimited Adjusted Trial Balance December 31, 2016 Account Title Debit Cash $88,450 Accounts Receivable 332,700 Supplies 10,255 Prepaid Rent 8,250 Equipment 295,285 Accumulated Depreciation Accounts Payable Wages Payable Capital Stock Retained Earnings Service Revenue Interest Income Rent Expense 63,250 Wages Expense 537,260 Supplies Expense 42,520 Depreciation Expense 163,595 Dividends 6,000 Totals $1,547,565 Credit $235,260 72,555 10,000 220,000 111,145 897,105 1,500 ________ $1,547,565 Prepare the general journal entry (without explanation) needed to close expense(s) for the year end. Use compound entries where required. If no entry is required then write "No Entry Required." Question 3 options: Skip Toolbars for . More Insert actions. More Text actions. More Paragraph Style actions. GJ - 4 Question 4 (8 points) The following is the Bravo Unlimited adjusted Trail Balance. Bravo Unlimited Adjusted Trial Balance December 31, 2016 Account Title Debit Cash $88,450 Accounts Receivable 333,700 Supplies 15,255 Prepaid Rent 9,000 Equipment 295,285 Accumulated Depreciation Accounts Payable Wages Payable Capital Stock Retained Earnings Service Revenue Interest Income Rent Expense 63,500 Wages Expense 539,260 Supplies Expense 42,520 Depreciation Expense 164,095 Dividends 5,000 Totals $1,556,065 Credit $235,760 73,555 12,000 220,000 111,145 902,105 1,500 _________ $1,556,065 Prepare the general journal entry (without explanation) needed to close Net Income or Net Loss for the year end. Use compound entries where required. If no entry is required then write "No Entry Required." Question 4 options: Skip Toolbars for . More Insert actions. More Text actions. More Paragraph Style actions. GJ - 5 Question 5 (8 points) The following is the Bravo Unlimited adjusted Trail Balance. Bravo Unlimited Adjusted Trial Balance December 31, 2016 Account Title Debit Cash $88,450 Accounts Receivable 331,000 Supplies 13,255 Prepaid Rent 10,500 Equipment 295,285 Accumulated Depreciation Accounts Payable Wages Payable Capital Stock Retained Earnings Service Revenue Interest Income Rent Expense 64,000 Wages Expense 541,260 Credit $236,760 75,555 14,000 220,000 111,145 900,105 1,500 Supplies Expense Depreciation Expense Dividends Totals 42,520 165,095 7,700 $1,559,065 _________ $1,559,065 Prepare the general journal entry (without explanation) needed to close Dividends for the year end. Use compound entries where required. If no entry is required then write "No Entry Required." Question 5 options: Skip Toolbars for . More Insert actions. More Text actions. More Paragraph Style actions. FIB - 6 Question 6 (12 points) The following is the Alpha Dog Company adjusted Trail Balance. Alpha Dog Company Adjusted Trial Balance December 31, 2016 Account Title Debit Cash $88,450 Accounts Receivable 157,700 Supplies 35,255 Stock Investment 158,250 Equipment 295,285 Credit Accumulated Depreciation Accounts Payable Wages Payable Capital Stock Retained Earnings Service Revenue Interest Income Rent Expense Wages Expense Supplies Expense Depreciation Expense Dividends Totals $235,260 47,555 30,000 200,000 136,145 897,105 1,500 63,250 537,260 42,520 163,595 6,000 $1,547,565 ________ $1,547,565 What are the dollar values that will appear in Alpha Dog Company's year end financial statements for the following line items: (For any negative dollar value the number must be enclosed in brackets and do not use a minus sign.) 1. Total Current Assets 2. Total Long Term Investments 3. Total Assets 4. Total Liabilities 5. Total Equity Question 6 options: FIB - 7 Question 7 (9 points) The following is the Bravo Unlimited adjusted Trail Balance. Devil Dog Company Adjusted Trial Balance December 31, 2016 Account Title Debit Cash $88,450 Accounts Receivable 150,000 Supplies 29,255 Stock Investment 172,000 Equipment 295,285 Accumulated Depreciation Accounts Payable Wages Payable Capital Stock Retained Earnings Service Revenue Interest Income Rent Expense 64,500 Wages Expense 542,260 Supplies Expense 42,520 Depreciation Expense 167,095 Dividends 8,700 Totals $1,560,065 Credit $238,760 43,555 35,000 200,000 146,145 895,105 1,500 _________ $1,560,065 What are Devil Dog Company's ratios for the following: (Round all non dollar value ratios to one decimal place. Do not enter the ":1" notation in the answer box. For dollar value ratios enter the dollar sign followed by the whole dollar amount. Any negative dollar value the number must be enclosed in brackets and do not use a minus sign.) 1. Current Ratio 2. Quick Ratio 3. Working Capital Question 7 options: How to complete the Jounal                       Open and begin the series of questions. You have one attempt for the homework. Once you submit your homework I will be notified & will begin the grading process. After I grade each individual's homework you will see which questions you had correct & incorrect. My feeling is that homework is more of a learning experience than a "testing" function. Therefore, be sure that you engage in the weekly Participation topic when you need additional help on any one question. Participation is key for our collaborative learning environment. Timeliness is also important. Get in early during the week to discuss homework learning experiences. o Notes for completing the homework in the LEO system: >> general journal style problem >>> a text entry general journal is provided >>> there are enough journal lines for each general journal style problem >>> for credit accounts be sure that there is a right indent, use the space bar (about 5 spaces) if necessary >>> do not provide any general journal explanations >>> be sure to use proper general journal entry style such as: >>>> no dollar signs >>>> use commas where appropriate >> financial statement style problem >>> a text entry financial statement is provided >>> there are enough lines plus a few extra for format allowed differences >>> be sure to use proper financial statement style such as: >>>> proper dollar signs where required >>>> use commas where appropriate >>>> use the underline feature where required, no double underlines are in the text function therefore substitute with single underlines >> fill in the box(es) style problems >>> where there are multiple boxes/answers you must answer in the order that the questions are asked >>> if a dollar amount (in the fill in the box(es) question) is the answer then you must use a $ sign and must use commas. There are no (say again - NO) pennies or decimal values (do not enter any character except the exact answer, for example the "dividends paid were $1,000" you enter just the $1,000) >>> if the value to be entered (number to be entered in the box) is not a dollar amount follow the question instructions.
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Explanation & Answer

Hello,Attached is the Word document containing the solutions (in red font) beneath each and every question :) Each entry, calculation, and ratio is displayed in detail. Thank you again, and please let me know if you have any questions!Selenica

FIB - 1
Question 1 (18 points)

The following is the Bravo Unlimited unadjusted Trail Balance.
Bravo Unlimited
Adjusted Trial Balance
December 31, 2016
Account Title
Debit
Cash
$88,450
Accounts Receivable
331,860
Supplies
6,255
Prepaid Rent
11,000
Equipment
295,285
Accumulated Depreciation
Accounts Payable
Wages Payable
Capital Stock
Retained Earnings
Service Revenue
Interest Income
Rent Expense
60,500
Wages Expense
527,260
Supplies Expense
42,520
Utilities Expense
8,595
Depreciation Expense
144,000
Interest Expense
6,840
Totals
$1,522,565

Credit

$224,260
72,555
0
220,000
111,145
893,105
1,500

_______
$1,522,565

Adjusting Items:
1. The prepaid rent covers December 2016 & January 2017 rents.
2. December depreciation on equipment is $12,000 per month.
3. At year end Wages of $10,300 were earned but unpaid.
Use this information to determine the adjusted account balances for the following:

1. Cash
$88,450.
2. Prepaid Rent
$5,500 (debit). $11,000 covers December and January. So at year end, half of this
amount has expired. The ending balance is therefore $11,000 / 2 = $5,500.
3. Equipment
$295,285 (debit). The Equipment asset account is always present at the full value;
accumulated depreciation changes, but not equipment.
4. Accumulated Depreciation
$236,260 (credit). $224,260 + 12,000.
5. Wages Payable
$10,300 (credit).
6. Rent Expense
$66,000 (debit). $60,500 + 5,500.
7. Wages Expense
$537,560 (debit). ...


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