Use the following Information for the Quick Studies below. (Algo) [The following information applies to the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Use the following Information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below] On December 31, Hawkin's records show the following accounts. Assets Cash Accounts Receivable Supplies. Equipment Accounts Payable Common stock Retained earnings, December 1 Dividends Services Revenue Wages Expense Rent Expense Utilities Expense Total Assets QS 1-17 (Algo) Preparing a balance sheet LO P2 Use the above information to prepare a December balance sheet for Hawkin. Hint Retained Earnings on December 31 equals $6,600. 5 HAWKIN Balance Sheet December 31 Liabilities $ 7,300 600 4,100 14, 100 7,100 12,400 Total Liablities Equity 5,100 3,200 17,100 1,000 2,600 1,800 Total Equity 0 Total Liablities and Equity S S S 0 0 0 B Use the following Information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below] On December 31, Hawkin's records show the following accounts. Assets Cash Accounts Receivable Supplies. Equipment Accounts Payable Common stock Retained earnings, December 1 Dividends Services Revenue Wages Expense Rent Expense Utilities Expense Total Assets QS 1-17 (Algo) Preparing a balance sheet LO P2 Use the above information to prepare a December balance sheet for Hawkin. Hint Retained Earnings on December 31 equals $6,600. 5 HAWKIN Balance Sheet December 31 Liabilities $ 7,300 600 4,100 14, 100 7,100 12,400 Total Liablities Equity 5,100 3,200 17,100 1,000 2,600 1,800 Total Equity 0 Total Liablities and Equity S S S 0 0 0 B
Expert Answer:
Answer rating: 100% (QA)
HAWKIN Balance Sheet December 31 Assets Accounts Receivable 7700 Supplies 410... View the full answer
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Posted Date:
Students also viewed these accounting questions
-
Refer to Figure 18.13. Given L 1 = 1.5 m, L 2 = 3 m; for the sand, ' = 33, = 16.5 kN/m 3 , sat = 19.0 kN/m 3 ; and, for the clay, c = 50 kN/m 2 , = 0, and sat = 20 kN/m 3 . Determine the depth of...
-
Q1. The following transactions occurred during Year 2, the second year of business for Nancy Nanny Child Care. Record each transaction in proper journal entry format below using debits and credits....
-
Q1. When amounts are correct, the accounting equation, Assets = Liabilities + Stockholders Equity, (_________ / will not) always be in balance. Similarly, Debits (_________/ will not) always equal...
-
In July 2009, Malcolm bought a piece of land for 40,000. In June 2016 he sold part of the land for 11,000. This disposal was not caused by a compulsory purchase and was his only disposal of land in...
-
A radiometer views a small target (1) that is being heated by a ring-shaped disk heater (2). The target has an area of A 1 = 0.0004 m 2 , a temperature of T 1 = 500 K, and a diffuse, gray emissivity...
-
Do the calculations for the proof of Corollary 4.11. Corollary 4.11 The inverse for a 2 Ã 2 matrix exists and equals if and only if ad - bc 0. a b c d d -b ad bcc a
-
Express the magnetic field due to a uniformly moving charged particle in terms of the electric field of the particle and its velocity.
-
The unadjusted trial balance of Walton Anvils at December 31, 2018, and the data for the adjustments follow: Adjustment data: a. Unearned Revenue still unearned at December 31, $1,800. b. Prepaid...
-
4. 5. A heavy particle is projected with a velocity at an angle with the horizontal into the uniform gravitational field. The slope of the trajectory of the particle varies with its horizontal...
-
Cherry Cotta makes custom ordered clay pots for residential gardens. Below is cost information regarding its latest job. a. Materials were purchased on account. $18,996 purchased b. A materials...
-
In determining an employee's net pay, which of the following taxes would be deducted? a. FUTA taxes b. SUTA taxes c. FICA taxes d. All of these choices are correct.
-
How do ratings and reviews provide value for consumers and marketers?
-
What is a social media marketing tactical plan and how does it support the execution of a social media marketing strategy?
-
Begin to create your social brand. Make a list of your social network profiles. Note the type of content youve shared recently and how others may perceive you if their impression of you was based...
-
Why is social media research valuable for marketers? How do marketers use it?
-
Identify a social media campaign for a favorite brand. In what experiences does the campaign invite you to take part? In what zones does the strategy lie? Does the campaign include share technologies...
-
Amir is a young manager employed by a Canadian construction company, Senecom. Senecom recently promoted Amir to be the head of local operations in an African country X. Senecom hopes to have a...
-
How can a promoter avoid personal liability for pre-incorporation contracts?
-
Walmart makes significant investments in operating capacity, primarily via investments in property, plant, and equipment, but also via investments in wholly and partially owned subsidiaries. Walmart...
-
One reason companies use stock options to compensate employees is to conserve cash. Under current tax law, companies get to deduct compensation when the employees actually exercise options. Explain...
-
Combined data for three years for two firms appear below (in millions). One of these firms is Amazon.com, a rapidly growing internet retailer, and the other is Kroger, a retail grocery store chain...
-
Verify the likelihood in equation (16.5) for the two-part model. n2. (16.5) -(-)-(-2)/02 L = [] {(p;)" (1 p; )'-'} [[ ( i=1 ri=1
-
Due to the Covid recession of 2020, the U.S. government budget changed from smaller deficits to very large deficits. What impact would this have on the net exports and private sector balances, all...
-
Two Population Poissons. We can express the two population problem in a regression context using one explanatory variable. Specifically, suppose that \(x_{i}\) only takes on the values of zero and...
Study smarter with the SolutionInn App