Business, 23.02.2021 05:20 michaela134
Exercise 3-14A Prepare an adjusted trial balance (LO3-3, 3-4) Skip to question [The following information applies to the questions displayed below.] The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Debit Credit Cash $ 9,400 Accounts Receivable 14,400 Prepaid Rent 6,480 Supplies 3,400 Deferred Revenue $ 2,400 Common Stock 11,000 Retained Earnings 5,400 Service Revenue 46,880 Salaries Expense 32,000 $ 65,680 $ 65,680 At year-end, the following additional information is available: The balance of Prepaid Rent, $6,480, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022. The balance of Deferred Revenue, $2,400, represents payment in advance from a customer. By the end of the year, $600 of the services have been provided. An additional $700 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2022. The balance of Supplies, $3,400, represents the amount of office supplies on hand at the beginning of the year of $1,400 plus an additional $2,000 purchased throughout 2021. By the end of 2021, only $740 of supplies remains. Exercise 3-14A Part 2 2. Prepare an adjusted trial balance as of December 31, 2021.
Answers: 2
Other questions on the subject: Business
Business, 21.06.2019 23:00, kimmmmmmy333
Assume today is december 31, 2013. barrington industries expects that its 2014 after-tax operating income [ebit(1 – t)] will be $400 million and its 2014 depreciation expense will be $70 million. barrington's 2014 gross capital expenditures are expected to be $120 million and the change in its net operating working capital for 2014 will be $25 million. the firm's free cash flow is expected to grow at a constant rate of 4.5% annually. assume that its free cash flow occurs at the end of each year. the firm's weighted average cost of capital is 8.6%; the market value of the company's debt is $2.15 billion; and the company has 180 million shares of common stock outstanding. the firm has no preferred stock on its balance sheet and has no plans to use it for future capital budgeting projects. using the corporate valuation model, what should be the company's stock price today (december 31, 2013)? round your answer to the nearest cent. do not round intermediate calculations.
Answers: 1
Business, 22.06.2019 02:00, bryceisabeast6206
Benton company (bc), a calendar year entity, has one owner, who is in the 37% federal income tax bracket (any net capital gains or dividends would be taxed at a 20% rate). bc's gross income is $395,000, and its ordinary trade or business deductions are $245,000. ignore the standard deduction (or itemized deductions) and the deduction for qualified business income. if required, round computations to the nearest dollar. a. bc is operated as a proprietorship, and the owner withdraws $100,000 for personal use. bc's taxable income for the current year is $ , and the tax liability associated with the income from the sole proprietorship is $ . b. bc is operated as a c corporation, pays out $100,000 as salary, and pays no dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . the shareholder's tax liability is $ . c. bc is operated as a c corporation and pays out no salary or dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . d. bc is operated as a c corporation, pays out $100,000 as salary, and pays out the remainder of its earnings as dividends. bc's taxable income for the current year is $ , and bc's tax liability is $ .
Answers: 2
Business, 22.06.2019 19:50, hallkanay7398
Ichelle is attending college and has a part-time job. once she finishes college, michelle would like to relocate to a metropolitan area. she wants to build her savings so that she will have a "nest egg" to start her off. michelle works out her budget and decides she can afford to set aside $9090 per month for savings. her bank will pay her 4 %4% per year, compounded monthly, on her savings account. what will be michelle's balance in five years?
Answers: 3
Business, 23.06.2019 02:30, bitterswt01
The accountant at bramble corp. has determined that income before income taxes amounted to $10800 using the fifo costing assumption. if the income tax rate is 30% and the amount of income taxes paid would be $900 greater if the lifo assumption were used, what would be the amount of income before taxes under the lifo assumption?
Answers: 2
You know the right answer?
Exercise 3-14A Prepare an adjusted trial balance (LO3-3, 3-4) Skip to question [The following inform...
Questions in other subjects:
Engineering, 07.11.2019 18:31
Business, 07.11.2019 18:31
English, 07.11.2019 18:31
