Learning Objective: 04-03 Prepare an adjusted trialbalance. Revenues: Retained Earnings, December 31, 2012 35. Supplies 270 Based on count, only $185 of supplies still exist. For each account listed in the unadjusted trial balance, indicate the balance to which the account Total Liabilities and Stockholders' Equity 136. Cash 17. c Property, Plant, and Equipment 14, It does not involve exchange of cash, goods, or services. Operating Expenses 79, Unearned Revenue 1, (j) 4,350 (k) 2. 1. 4.With respect to event (e), which of the following is correct? Accounts Payable Short-term Bank Loans operations (December 31, 2012), the following financial data for the company are available: Accounts Payable $ 35, As of 2015, McGraw-Hill Education is one of the largest … using the accounting equation, journal entries, and Required: Notes Payable 54, company was profitable because revenues exceeded expenses. 323, Supplies Expense 770 This is the cost of supplies used through November 30. Interest Payable Interest Expense Red text indic ates no res pons e was expec ted in a cell or a formula-bas ed c alc ulation is inc orrec t; no ebook & resources, Unearned Revenue Contributed Capital summarize the effects of operating transactions Service Revenue 24. (d) 13,000 14,000(c). Beg. Supplies Supplies Expense c. Property, Plant, and Equipment + 24,900 Long-term Debt + 10, Wages Expense 17,800 The company’s employee worked through December 31. Enter your Dividends 2, related concepts. Total Revenues 126, Interest Expense Assume that you are the president of APEC Aerospace Corporation. Accounts Receivable 11, Because event (e) Revenues: Total Revenues 24, Multiple Choice Learning Objective: 02-02 Apply transaction analysisto accounting transactions. Interest Expense 105. 7.74 out of Salaries and Wages Expense 4, balance at December 31, 2013, follows along with information about selected accounts. Supplies Supplies Expense Long-term Debt 10, Cash Accounts Receivable [The following information applies to the questions displayed below.]. Sales Revenue 126, Accounts Receivable 11, Contributed Capital 1,100 This amount was contributed to the company in prior years. flows. Financed by Stockholders 47. Less: Dividends (2,200) Salaries and Wages Expense Advertising Expense Expenses: Accounts Payable 9, She has not yet been paid for work on December 30 and 31. 6,500(b). structure, and content of the four basic financial Contributed Capital 11, operating transactions and select appropriate Supplies 10. Income Tax Expense 1, Accounting 201 - Connect Assignments (1-13), Copyright © 2020 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Sample/practice exam 2016, questions and answers - Final exam - spring, Pol sci 4150 progress evaluation lesson 7. Other Expenses 9. Retained Earnings 2, Learning Objective: 03-04 Prepare an unadjusted $47,000, indicating that the company is financed mainly by creditors. Total Stockholders' Equity 47, Learning Objective: 03-03 Analyze, record, and answers in thousands.). Other Noncurrent Assets 13. c Property, Plant, and Equipment 24, Assets Balance Sheet Beg. Total Revenues 24, Supplies 10, Name the five pairs of balance sheet and income statement accounts that require adjustment. Retained Earnings, January 1, 2012 Supplies Expense 770 Difficulty: Hard Learning Objective: 04-02 Prepare adjustmentsneeded at the end of the period. Supplies Expense 855 APEC Aerospace Corporation’s balance sheet reports total liabilities of $89,100 and stockholders’ equity of transaction. Income Tax Payable 0 Service Revenue Rent Expense Bal. payable for the current period. 578,300 Beg. (These balances will represent the desired balances to which accounts will later Income Tax Payable 0 The company has paid last year’s income taxes but not this year’s Stockholders’ equity financed $3,800,800,000 of the company’s total assets and liabilities financed Bal. Bal. Expenses: Stockholders' Equity Wages Payable 0 The employee was paid $600 for 10 days of work through December 29.