Business, 10.10.2019 04:00, IDONTHAVEABRAIN

Before month-end adjustments are made, the february 28 trial balance of cole’s enterprise contains revenue of $11,000 and expenses of $8,900. adjustments are necessary for the following items: • depreciation for february is $1,200. • revenue earned but not yet billed is $2,800. • accrued interest expense is $900. • revenue collected in advance that is now earned is $2,500. • portion of prepaid insurance expired during february is $500. calculate the correct net income for cole's enterprise for the month end.

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Business, 06.07.2019 16:30, slm1595

Ayayai corp. prepares monthly cash budgets. here are relevant data from operating budgets for 2017. january february sales $360,700 $401,600 purchases 120,800 131,300 salaries 84,200 81,600 administrative expenses 70,900 73,000 selling expenses 78,100 86,000 all sales and purchases are on account. budgeted collections and disbursement data are given below. all other expenses are paid in the month incurred except for administrative expenses, which include $1,000 of depreciation per month. other data. 1. collections from customers: january $331,800; february $378,100. 2. payments for purchases: january $106,100; february $141,100. 3. other receipts: january: collection of december 31, 2016, notes receivable $18,000; february: proceeds from sale of securities $5,400. 4. other disbursements: february $12,700 cash dividend. the company’s cash balance on january 1, 2017, is expected to be $47,000. the company wants to maintain a minimum cash balance of $55,410.

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Business, 10.09.2019 23:30, sabaheshmat200

Devlin company has prepared the following partially completed worksheet for the year ended december 31, 2016: show work, specially on adjustments. a partially completed worksheet has 10 columns with headings as follows: accounts; trial balance debit; trial balance credit; adjustments debit; adjustments credit; income statement debit; and income statement credit; retained earnings statement debit; retained earnings statement credit; balance sheet debit; and balance sheet credit. the adjustments, income statement, retained earnings statement, and balance sheet columns are blank. the accounts and trial balance columns are as follows: cash, 1,000 (debit); accounts receivable, 2,700 (debit); allowance for doubtful accounts, 30 (credit); note receivable (due 5/1/17), 1,200 (debit); inventory, 9,200 (debit); land, 4,500 (debit); buildings and equipment, 20,600 (debit); accumulated depreciation, 8,760 (credit); accounts payable, 4,050 (credit); notes payable (due 4/1/19), 4,000 (credit); common stock (2,000 shares), 5,000 (credit); retained earnings (1/1/16), 6,120 (credit); dividends, 600 (debit); sales revenue, 25,400 (credit); rent revenue, 550 (credit); cost of goods sold, 9,050 (debit); salaries expense, 2,750 (debit); delivery expense, 720 (debit); heat and light expense, 820 (debit); other expenses, 540 (debit); (single rules below other expenses in both debit and credit columns of trial balance); totals: 53,680 in both debit and credit columns of trial balance, double underlined). the following additional information is available: (a) salaries accrued but unpaid total $250; (b) the $80 heat and light bill for december has not been recorded or paid; (c) depreciation expense totals $810 on the buildings and equipment; (d) interest accrued on the note payable totals $380 (this will be paid when the note is repaid); (e) the company leases a portion of its floor space to kt & daniel specialty company for $50 per month, and kt & daniel has not yet paid its december rent; (f) interest accrued on the note receivable totals $80; (g) bad debts expense is $70; and (h) the income tax rate is 30% on current income and is payable in the first quarter of 2017. required: complete the worksheet. (round to the nearest dollar.) prepare the company's financial statements. prepare (a) adjusting and (b) closing entries in the general journal.

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