Presented here are the accounts of Quick and EZ Delivery for the year ended December 31, 2014:
Question:
Presented here are the accounts of Quick and EZ Delivery for the year ended December 31, 2014:
Requirements
1. Prepare Quick and EZ Delivery’s income statement.
2. Prepare the statement of retained earnings.
3. Prepare the balancesheet.
Transcribed Image Text:
5 7,000 Common Stodk Land Notes Payable Property Tax Expense Dividends Rent Expense Salaries Expense Salaries Payable Service Revenue Office Supplies Retalned Earnings, 12/31/13 32,000 4,000 1,700 17,000 137,900 6,000 17.000 2,000 6,000 30,000 Accounts Payable 2,900Account Recelvable 32,000 Advertising Expense 13,000 Bulding 69,000 ash 500 Equipment 192,000 Insurance Experse 8,000 Interest Expense 51,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (15 reviews)
Requirement 1 QUICK AND EZ DELIVERY Income Statement Year Ended December 31 2014 Revenues Service ...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Question Posted:
Students also viewed these Accounting questions
-
Presented here are the accounts of Quick and EZ Delivery Corporation for the year ended December 31, 2012. Requirements 1. Prepare Quick and EZ Delivery Corporations income statement. 2. Prepare the...
-
Presented here are the accounts of Gate City Answering Service Corporation for the year ended December 31, 2012. Requirements 1. Prepare Gate City Answering Service Corporations income statement. 2....
-
The income statement for Delta-tec Inc. for the year ended December 31, 2016, was as follows: Delta-tec Inc. Income Statement (selected items) For the Year Ended December 31, 2016 1 Income from...
-
Prove that opposite sides of a quadrilateral circumscribing a circle subtend supplementary angles at the centre of the circle.
-
A solution of acetic acid, HC2H3O2, on a laboratory shelf was of undetermined concentration. If the pH of the solution was found to be 2.68, what was the concentration of the acetic acid?
-
Pennys Pool Service & Supply, Inc. (PPSS) had the following transactions related to operating the business in its first years busiest quarter ended September 30, 2013: a. Placed and paid for $2,600...
-
Why is the concept of an ongoing concern important to the interpretation of financial statements?
-
1. Based on Guz, can the implied covenant of good faith and fair dealing apply to any conditions not actually stated in a contract? In other words, can the covenant apply to anything beyond that...
-
At the beginning of Year 4 , Able Company had the following portfolio of investments in trading securities ( all of which were acquired at par value ) : Security Cost 1 / 1 / Y 4 Fair Value A $ 2 0 ,...
-
Determine the total current in a wire of radius 1.6 mm if J 500az / = A/m2.
-
Anna Taylor started a new business, Taylor Gymnastics, and completed the following transactions during December: Dec. 1 Anna contributed $ 30,000 cash in exchange for common stock. 2 Received $ 4,000...
-
Photo Gallery works weddings and prom- type parties. The balance of Retained Earnings was $ 17,000 at December 31, 2013. At December 31, 2014, the businesss accounting records show these balances:...
-
Calculate the standard enthalpy, entropy, and Gibbs free energy at 298 K for each of the following reactions by using data in Appendix 2A. For each case, confirm that the value obtained from the...
-
Repeat Exercise E10.8 , making the Measurer an inner class outside the main method. Data from Exercise E10.8 Using a different Measurer object, process a set of Rectangle objects to find the...
-
Why is testing so important to managers, and why is direct marketing better suited to testing than conventional marketing?
-
Amy Staniszewski, a digital marketing specialist working in a business to business environment, shared details about the metrics she uses to measure their B2B marketing campaigns. She explained that...
-
Which of the following classes are immutable? a. PrintStream b. Date c. Integer
-
Most mail-order operations make very little use of market research as a tool to help them, preferring to rely on testing instead. If you were addressing them as a market researcher, what benefits of...
-
Matalan has acknowledged it may not be able to continue operating if it is unable to finance a significant chunk of its debts by January, despite a recovery in trading. The UK value retailer has...
-
Write the given system without the use of matrices. D) - ()- d (x sin t + 8 (2+ 1)
-
Let us check if and by how much using convexity improves the approximation of the bond price changes that we have considered in Example 6.1. As we have seen there, the prices of two zeros maturing in...
-
D & L Printing Suppliess accounting records include the following accounts at December 31, 2016. Purchases..............$ 189,600 Accounts Payable............ 7,900 Rent Expense............... 9,000...
-
X Wholesale Company began the year with merchandise inventory of $11,000. During the year, X purchased $93,000 of goods and returned $6,700 due to damage. X also paid freight charges of $ 1,200 on...
-
Hartford Jewelers had the following purchase transactions. Journalize all necessary transactions. Explanations are not required. Jun. 20 Purchased inventory of $5,400 on account from Surry Diamonds,...
-
As of June 30, Year 1, the bank statement showed an ending balance of $16,878. The unadjusted Cash account balance was $15,239. The following information is available: 1. Deposit in transit, $2,190....
-
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor...
-
Marin Company produces two software products (Cloud-X and Cloud-Y) in two separate departments (A and B). These products are highly regarded network maintenance programs. Cloud-X is used for small...
Study smarter with the SolutionInn App