HCS 380 Wk 2 Individual: WileyPLUS Quiz Activity
Due Sunday evening 11: 59 om AZT. Time listed above is EST. All work due 11:59 pm AZT. Complete the assigned Quiz activity in WileyPLUS. Remember that you have 3 attempts for each question to achieve the best score!
Exercise 4-6
Carla Vista Co., a ski tuning and repair shop, opened on November 1, 2016. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season, April 30, 2017.
Cash
Receipts Cash
Payments
Issuance of common shares $19,900
Payment to purchase repair shop equipment $9,100
Payments to landlord 1,225
Newspaper advertising payment 330
Utility bill payments 810
Part-time helper’s wage payments 2,700
Income tax payment 10,300
Cash receipts from ski and snowboard repair services 30,700
Subtotals 50,600 24,465
Cash balance 26,135
Totals $50,600 $50,600
Exercise 4-22
The adjusted trial balance for Ivanhoe Company is given below:
IVANHOE COMPANY
Trial Balance
August 31, 2017
Before
Adjustment After
Adjustment
Dr. Cr. Dr. Cr.
Cash $11,070 $11,070
Accounts Receivable 8,990 9,540
Supplies 2,640 1,210
Prepaid Insurance 4,490 3,020
Equipment 15,410 15,410
Accumulated Depreciation—Equipment $3,467 $4,667
Accounts Payable 5,270 5,270
Salaries and Wages Payable 0 1,050
Unearned Rent Revenue 1,810 920
Common Stock 15,950 15,950
Retained Earnings 5,680 5,680
Dividends 2,920 2,920
Service Revenue 34,300 34,850
Rent Revenue 13,520 14,410
Salaries and Wages Expense 16,120 17,170
Supplies Expense 0 1,430
Rent Expense 18,357 18,357
Insurance Expense 0 1,470
Depreciation Expense 0 1,200
Exercise 4-9
The ledger of Sunland Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared.
Debit Credit
Supplies $3,450
Prepaid Insurance 4,140
Equipment 25,200
Accumulated Depreciation—Equipment $7,560
Notes Payable 19,600
Unearned Rent Revenue 10,650
Rent Revenue 55,500
Interest Expense 0
Salaries and Wages Expense 14,100
An analysis of the accounts shows the following.
1. The equipment depreciates $330 per month.
2. Half of the unearned rent revenue was earned during the quarter.
3. Interest of $470 is accrued on the notes payable.
4. Supplies on hand total $800.
5. Insurance expires at the rate of $460 per month.
HCS 380 Wk 2 Individual: WileyPLUS Quiz Activity
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