What are the liabilities for the period

Assignment Help Financial Accounting
Reference no: EM13144270

At the end of the current accounting period, account balances were as follows: Cash $150,000, Accounts Receivable $50,000; Common Stock $10,000; Retained Earnings $60,000. Liabilities for the period were what?

Reference no: EM13144270

Questions Cloud

Journalize entry to record receipt of payment of note : Sunshine Service Center received a 120-day, 6% note for $40,000,dated April 12 from a customer on account. Assume a 360 day year. Journalize the entry to record the receipt of the payment of the note at maturity.
Identify one of gross income inclusions : Identify one of the gross income inclusions. Why or why not? You can approach this question from an economic, social, revenue, or political perspective.
The anchoring and adjustment heuristic : Define each of the following mental shortcuts, and explain why each may be inaccurate: (1) the availability heuristic, (2) the representativeness heuristic, (3) the anchoring and adjustment heuristic.
Company common stock and preferred stock issues : Wyoming Sports Equipment issued a $3 cumulative preferred stock issue. In 2007, the firm's board of directors voted to omit dividends for both the company's common stock and its preferred stock issues. Also, the corporation's board of directors vo..
What are the liabilities for the period : At the end of the current accounting period, account balances were as follows: Cash $150,000, Accounts Receivable $50,000; Common Stock $10,000; Retained Earnings $60,000. Liabilities for the period were what?
Professional interactive media developers : DIGIMAX Multimedia is a multimedia content development company would like to release various educational CD/DVD in the market. In this regards, the company wants to approach professional interactive media developers
Accounting for stockholders equity : Briefly describe some of the similarities and differences between U.S. GAAP and iGAAP with respect to the accounting for stockholders' equity.
Define what is the enthapy change needed to heat : what is the enthapy change needed to heat 1 kg of water at 0.4 MPa and 4°C to steam at 150°C and 0.4 MPa? b/ Does a state change from saturated vapor at 230°C to the state 100°C and 0.05 MPa represent an enthalpy increase or decrease?
List out parties who you believe are most responsible : The Enron debacle created what one public official reported was a "crisis of confidence" on the part of the public in the accounting profession. List out parties who you believe are most responsible for that crisis. Briefly justify each of your ch..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Essential business deductions

Essential business deductions in each of the subsequent situations.

  How much would overwood be paid for an hours

If this was a BELO plan with a pay rate of $22.00 per hour and a maximum of 53 hours, how much would Overwood be paid for 48 hours?

  Local government was awarded a federal grant

The federal government provided the funds the following months. The local government would recognize revenues for the fiscal year ended June 30, 2009 in which amount?

  Evaluate the amount of net loss

Evaluate the amount of net loss that Jones can report on its income statement for the year

  Make income statement and retained earnings statement

Make income statement  and retained earnings statement and balance sheet  and calculate certain ratios required by the image file details.

  What is amount of common fixed expense not traceable

The corporation's net operating income is $31,800. The YDI Division's divisional segment margin is $111,800 and the QCC Division's divisional segment margin is $152,800. What is amount of the common fixed expense not traceable to the individual d..

  Shares of common stock outstanding

Calculate the Earnings per share (EPS) for each level of sales, the expected EPS, the standard deviation of the EPS, and the coefficient of variation of EPS, assuming that there are $10,000 shares of common stock outstanding,

  How much does sara include in her gross income

The church did not keep a record of the amounts given nor the contributors, but the minister estimates that these gifts amount $10,000 in the current year. How should he treat these gifts?

  Franklin''s variable overhead efficiency variance for year

The standard hours allowed for real production for the year total and franklin's variable overhead efficiency variance for current year.

  Find out the liability for refundable deposits

Prepare the appropriate journal entries for the deposits received and returned during 2011. Find out the liability for refundable deposits to be reported on the December 31, 2011, balance sheet.

  What do you think we should do in the “eal world

Lou was overjoyed that the deal was completed and told Judy to go out to diner with her husband and charge it to the bank as a reward for a job well done. To make it a “reimbursable” expense he told Judy to indicate she had diner with one of Ac..

  Evaluate company''s revenue and net income

Try to evaluate filings before, during, and after ERP systems were implemented. Summarize your findings. How would you describe reasons for the company's revenue and net Income trend to the average personal investor

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd