Business
Business, 06.03.2020 00:01, kajtazi7670

The following accounts are taken from Equilibrium Riding, Inc., a company that specializes in occupational therapy and horseback riding lessons, as of December 31.

Account Name Debits Credits
Cash 69,600
Accounts Receivable 5,200
Prepaid Insurance 5,000
Equipment 78,750
Land 26,550
Accounts Payable 32,600
Unearned Revenue 2,100
Notes payable (long-term) 66,000
Common stock 5,000
Retained Earnings 51,815
Dividends 0
Service Revenue 33,500
Wages Expense 4,800
Repairs and Maintenance-
Expense 830
Office Expenses 285
Totals 191,015 191,015

(a) Using the unadjusted trial balance provided, create an Income Statement for Equilibrium Riding, Inc., for the year ended December 31.
(b) Using the unadjusted trial balance provided, create a Statement of Retained Earnings for Equilibrium Riding, Inc., for the year ended December 31.
(c) Using the unadjusted trial balance provided, create a classified Balance Sheet for Equilibrium Riding, Inc., for the year ended December 31.

answer
Answers: 1

Other questions on the subject: Business

image
Business, 21.06.2019 14:00, marlesly87
Before downloading a new app on your phone, you need to pay attention to
Answers: 2
image
Business, 21.06.2019 20:40, brittany7436
Astock is selling today for $50 per share. at the end of the year, it pays a dividend of $3 per share and sells for $58. a. what is the total rate of return on the stock? (enter your answer as a whole percent.) b. what are the dividend yield and percentage capital gain? (enter your answers as a whole percent.) c. now suppose the year-end stock price after the dividend is paid is $42. what are the dividend yield and percentage capital gain in this case? (negative amounts should be indicated by a minus sign. enter your answers as a whole percent.)
Answers: 1
image
Business, 22.06.2019 00:10, laya35
What are the forecasted levels of the line of credit and special dividends? (hints: create a column showing the ratios for the current year; then create a new column showing the ratios used in the forecast. also, create a preliminary forecast that doesn’t include any new line of credit or special dividends. identify the financing deficit or surplus in this preliminary forecast and then add a new column that shows the final forecast that includes any new line of credit or special dividend.) now assume that the growth in sales is only 3%. what are the forecasted levels of the line of credit and special dividends?
Answers: 1
image
Business, 22.06.2019 10:00, Randomkid0973
University car wash built a deluxe car wash across the street from campus. the new machines cost $219,000 including installation. the company estimates that the equipment will have a residual value of $19,500. university car wash also estimates it will use the machine for six years or about 12,500 total hours. actual use per year was as follows: year hours used 1 3,100 2 1,100 3 1,200 4 2,800 5 2,600 6 1,200 prepare a depreciation schedule for six years using the following methods: 1. straight-line. 2. double-declining-balance. 3. activity-based.
Answers: 1
Do you know the correct answer?
The following accounts are taken from Equilibrium Riding, Inc., a company that specializes in occupa...

Questions in other subjects:

Konu
Biology, 10.07.2019 17:00