The Income Summary and Violante Autro, Capital accounts for Autro Production Company at the end of its
Question:
The Income Summary and Violante Autro, Capital accounts for Autro Production Company at the end of its accounting period follow.
Complete the following statements:
1. Total revenue for the period is __________.
2. Total expenses for the period are __________.
3. Net income for the period is __________.
4. Owner’s withdrawals for the period are __________.
Transcribed Image Text:
ACCOUNT Income Summary POST. REF. DATE DESCRIPTION 20X1 Dec. 31 Closing 31 Closing 31 Closing J4 J4 35 900 00 J4 31100 00 ACCOUNT DATE DEBIT 20X1 Dec. DESCRIPTION Violante Autro, Capital 1 31 Closing 31 Closing 67 0 0 0 00 CREDIT POST. REF. J1 J4 J4 DEBIT 110 0 0 00 ACCOUNT NO. 399 DEBIT BALANCE CREDIT CREDIT 670 0 0 00 31 100 00 120 0 0 0 00 31 100 00 - 0 ACCOUNT NO. 301 BALANCE DEBIT CREDIT 120 000 00| 151 100 00 140 1 0 0 00
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (7 reviews)
Answer Explanation 1 Total revenue for the period 6700...View the full answer
Answered By
Julie Kuriyakose
I really found my niche to be an educator/tutor during my college days since I really wanted to inspire and nurture students in terms of technical academic foundation, and also in real-life experiences. I have been tutoring for months now in a different platform and during my stint there, I was able to answer so many technical questions, that I didn't even realize that I am enjoying doing that kind profession, mainly also because of my realizations in college. As a tutor, I always prioritize the well-being and necessities of the students that I help, and in addition with the enjoyment that I accumulated during my earlier days of tutoring, I find to be contented with what I am doing not only because I am earning quite nicely, but also due to the fact that in some way, I was able to touch the lives of the students, barely or largely.
0.00
0 Reviews
10+ Question Solved
Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
Question Posted:
Students also viewed these Business questions
-
The Income Summary and Levi Simmons, Capital accounts for Simmons Production Company at the end of its accounting period follow. Complete the following statements: 1. Total revenue for the period is...
-
The Income Summary and Linda Carter, Capital accounts for Carter Production Company at the end of its accounting period follow. Complete the following statements: 1. Total revenue for the period is...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
The population (in millions) of a country in 2015 and the expected continuous annual rate of change k of the population are given. (a) Find the exponential growth model P = Ce kt for the population...
-
In late 20X0, Conrad Petry retired from his job of 30 years and began receiving a pension of $4,000 per month. Unable to cope with full retirement, he purchased a small retail business on January 1,...
-
Triton Consulting is a consulting firm owned and operated by Jayson Neese. The ollowing end-of-period spreadsheet was prepared for the year ended April 30, 2018: Based on the preceding spreadsheet,...
-
Molson Appliance Co., prepares crowns, dentures, and other dental appliances. All work is performed on account, with regular monthly billing to participating dentists. Eve Nations, accountant for...
-
Erin Kramer Inc. has recently hired a new independent auditor, Jodie Larson, who says she wants to get everything straightened out. Consequently, she has proposed the following accounting changes in...
-
Which of the following is not a primary source of corporate debt financing? Leases Bonds Payable Common Stock Notes Payable
-
QSR magazine reports on the largest quick serve and fast casual restaurants in the United States. Do the various market segments (burger, chicken, sandwich, and pizza) differ in their mean sales per...
-
After closing, which accounts have zero balances? a. Liability and capital accounts b. Asset and liability accounts c. Revenue, drawing, and expense accounts d. Liability, drawing, and expense...
-
A partially completed worksheet for At Home Pet Care Service, a firm that grooms pets at the owners home, follows. INSTRUCTIONS 1. Record balances as of December 31 in the ledger accounts. 2. Prepare...
-
Calculate Saras real income in terms of smoothies. Calculate her real income in terms of popcorn.
-
Determine the magnitude of the magnetic flux through the south-facing window of a house in British Columbia, where Earth's B field has a magnitude of 5.8 x 10-5T and the direction of B field is 72...
-
A wedge with an inclination of angle rests next to a wall. A block of mass m is sliding down the plane, as shown. There is no friction between the wedge and the block or between the wedge and the...
-
Conner Leonard worked for Purges Manufacturing for 32 years. Along with four other men, he helped to start the company that designed and built products sold around the world. Purges Manufacturing...
-
Reconsider the collision between two objects diagrammed below where two objects move on a frictionless surface. Before collision After collision Experiment 1 A, 1 B A B Draw complete and properly...
-
3. Now the bomb arrives. Please catch fx,y(x, y) = = cx cx - dy, where 0 < x < 1, 0 y x. 13 a) Please find coefficients c, d such that cd= 8 b) Please find fx(x) and fy (y). Are X and Y independent?...
-
Give a geometric description of the following sets of points. (x + 1) 2 + y 2 + z 2 - 2y - 24 = 0
-
Which of the companies has the lowest accounts receivable turnover in the year 20X2? a. Company A. b. Company B. c. Company C. d. CompanyD. 20X1 20X2 Credit Sales Average Receivables Balance $1.0...
-
You are Julia, a new Accounts Receivable Clerk for Nixon Paper and Office Supply. Toward the end of the month, Carol Reed, a very personable sales associate, tells you that the previous AIR clerk...
-
You are Julia, a new Accounts Receivable Clerk for Nixon Paper and Office Supply. Toward the end of the month, Carol Reed, a very personable sales associate, tells you that the previous AIR clerk...
-
Review the following excerpt from the 2012 consolidated statement of income for Southwest Airlines Co. answer the question that follow. 1. Although the format for the heading of an income statement...
-
Long-term liabilities are shown in two places in the business firm's balance sheet depending upon when the long-term liabilities are scheduled for payment. True False
-
Julio is single with 1 withholding allowance. He earned $1,025.00 during the most recent semimonthly pay period. He needs to decide between contributing 3% and $30 to his 401(k) plan. If he chooses...
-
Acquirer firm plans to launch a takeover of Target firm. The manager of Acquirer indicates that the deal will increase the free cash flow of the combined business by $13.6m per year forever. The beta...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App