What would be the account balance in the Cash account after thefollowing transactions. Assume a zero beginning Cash balance.
Owner invested cash in the business | $100,000 |
Purchase supplies with cash. | $20,000 |
Received a bill for one month of rent owed to landlord | $2,200 |
Paid wages earned in the month in cash | $800 |
Billed a customer for services performed | $1,250 |
| A. | $124,250 |
| B. | $80,400 |
| C. | $77,800 |
| D. | $79,200 |
| E. | $80,000 |
What would the account balance in Accounts Receivable after thefollowing transactions, assuming a zero beginning balance?
Performed services and left a bill with the customer $4,200
Performed services and collected immediately $3,500
Performed services and billed customer $2.200
Performed services on account $6,000
Received partial payment on account. $1,500
| A. | | $17,400 |
| B. | | $10,900 |
| C. | | $14,400 |
| D. | | $4,500 |
| E. | | $11,400 |
A partial trial balance of Ledger accounts at year-end had thefollowing balances. If all the accounts have normal balances, whatare the total debits on the Trial Balance?
Cash | 30,000 |
Account receivable | 32,000 |
Supplies | 5,000 |
Accounts payable | 20,000 |
Fees Earned | 65,000 |
Rent expense | 15,000 |
Insurance expense | 4,800 |
Common Stock | 5,000 |
Retained Earnings | 14,800 |
Dividends paid | 18,000 |
| |
| A. | $45,200 |
| B. | $67,000 |
| C. | $68,800 |
| D. | $104,800 |
The following information is available for three competing toycompanies. Which company earned the highest return on assets?
| Company 1 | Company 2 | Company 3 |
Assets | 90,500 | 64,000 | 32,500 |
Liabilities | 11.765 | 46,720 | 26,650 |
Average Assets | 100,000 | 40,000 | 50,000 |
Net income | 20,000 | 3,800 | 650 |
A.
Company 1
B.
Company 2
C.
Company 3
D.
Cannot be calculated from the data provided.
