Refer to the information above

Assignment Help Accounting Basics
Reference no: EM131014992

Question 1 (of 15)Question 2 (of 15)Question 3 (of 15)Question 4 (of 15)Question 5 (of 15)Questions 6 - 8 (of 15)Question 9 (of 15)Question 10 (of 15)Question 11 (of 15)Question 12 (of 15)Question 13 (of 15)Questions 14 - 15 (of 15)

At December 31, 2014 the accounting records of Gordon, Inc. contain the following items:

2339_13252703207781702154 (1).png


14. Award: 2.20 out of 2.20 points
Refer to the information above. If the Notes Payable is $10,000, the December 31, 2014 cash balance is:
$60,000.
$20,000.
$160,000.
$30,000.
A/P ($2,500) + N/P ($10,000) + Capital Stock ($12,500) + R.E. ($125,000) = $150,000
Cash (?) + A/R ($18,750) + Land ($30,000) + Building ($31,250) + Equipment ($40,000) = $150,000
Cash = $30,000


15. Award: 2.20 out of 2.20 points
Refer to the information above. If the Notes Payable balance is $25,000, then the total assets of Gordon, Inc. at December 31, 2014 amount to:
$120,000.
$152,500.
$165,000.
$27,500.
A/P ($2,500) + N/P ($25,000) + Capital Stock ($12,500) + R.E. ($125,000) = $165,000
Total Assets = $165,000 

Reference no: EM131014992

Questions Cloud

What is the balance in the cash account at the end of may : 20. Required informationRefer to the information above. What is the balance in the Cash account at the end of May?$210,000.$390,000.$600,000.$810,000.
What is the maximum amount of h2 : The temperature is 1000 K and the pressure is 1000 Pa. You may assume that D hrxn does not change with temperature. What is the equilibrium constant at 298 K? What is the equilibrium constant at 1000 K?
Eavesdropped on a telephone conversation : He did not tell his wife, and it was not until she eavesdropped on a telephone conversation between her husband and Peter Kulaski that she discov- ered something was amiss. Mr. Rawlinson told her (after his phone conversation) that he had taken $2..
Plot the log of diameter against the log of the speed : Plot the log of diameter against the log of the speed. Find the best-fitting line using least squares regression on the log-transformed data.
Refer to the information above : Refer to the information above. If the Notes Payable is $10,000, the December 31, 2014 cash balance is:$60,000.$20,000.$160,000.$30,000.
Material change for purposes of the merchant : Would an arbitration clause added to the reverse side of a buyer's purchase order be a material change for purposes of the merchant's battle of the forms under Section 2-207 of the UCC? [Berquist Co. v. Sunroc Corp., 777 F. Supp. 1236 (E.D. Pa. 19..
Who did more work : Sasha pumped until 3 feet of water remained in the tank, and then Zhenya pumped the remaining 3 feet of water out. Who did more work?
Chicken gordita sandwiches : On August 6, 1998, Mr. Ruvolo purchased two chicken gordita sandwiches from Taco Bell. While eating the second sandwich, he felt a sharp pain in his throat and dislodged a chicken bone. The bone caused a scrape in his throat, and, as a result, he ..
What is the equation for jar jar budget line : Given the information, what is the equation for Jar Jar's budget line? Assume that Jar Jar spends all of his income on coconuts and/or fish. Graph this budget line with coconuts on the x-axis and fish on the y-axis. Label this budget line BL1.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Equipment account balance and accumulated depreciation

The difference between the equipment account balance and the accumulated depreciation, equipment account balance is called:

  At the end of the current year accounts receivable has a

1. at the end of the current year accounts receivable has a balance of 675000 allowance for doubtful accounts has a

  Koch corporations adjusted trial balance contained the

koch corporations adjusted trial balance contained the following asset accounts at december 31 2012 cash 8890 land

  Homes in a suburban development

A contractor built 30 similar homes in a suburban development. The homes have comparable size and amenities, but each has been sold with features that customize the appearance, landscape, and interior. The contractor expects the homes to sell for ..

  Prepare the compound journal entry to record roberts corp

Roberts Corp. reports pretax accounting income of $200,000. Prepare the compound journal entry to record Roberts Corp.'s income taxes. Show well-labeled computations.

  Maximum regular cost recovery deduction

Omar acquires used 7-year personal property for $100,000 to use in his business in February 2010. Omar does not elect §179 expensing or additional first-year depreciation, but does take the maximum regular cost recovery deduction. As a result, Oma..

  Joanne believes that its time to start thinking about her

joanne believes that its time to start thinking about her future. her bank offers a savings account that compounds

  Lhu corporation makes and sells a product called product wz

lhu corporation makes and sells a product called product wz. each unit of product wz requires 2.2 hours of direct labor

  Payroll accounting suppose that the following tax rates as

payroll accounting. assume that the following tax rates and payroll information pertain to brookhaven publishingbull

  Qd3000-10p qs-100010p where is q is the number of

qd3000-10p qs-100010p where is q is the number of businesses that need services and p is the monthly fee in

  Excess of par value-preferred stock

Classify each account using the table headings - Excess of Par Value-Preferred Stock

  The management of mecca copy a photocopying center located

the management of mecca copy a photocopying center located on university avenue has compiled the following data to use

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