11 what are the total assets for shiver ice 383831

11. What are the total assets for Shiver Ice House

Common Stock

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$120,000

Accounts Payable

$25,000

Cash

$116,640

Accounts Receivable

$22,450

Supplies

$ 1,500

Office Equipment

$23,300

Prepaid Rent

$ 3,200

Unearned Revenue

$ 4,152

Revenue

$ 20,000

Utilities Expense

$ 422

Retained Earnings

$ 30,000

Shaving Equipment

$31,640

A. $291,340

B. $106,962

C. $198,730

D. $218,730

E. $221,580

12. What is net income for Shiver Ice House

Common Stock

$120,000

Accounts Payable

$25,000

Cash

$116,640

Accounts Receivable

$22,450

Supplies

$ 1,500

Office Equipment

$23,300

Prepaid Rent

$ 3,200

Unearned Revenue

$ 4,152

Revenue

$ 20,000

Utilities Expense

$ 422

Retained Earnings

$ 30,000

Shaving Equipment

$31,640

A. $19,578

B. $20,528

C. $23,728

D. $49,578

E. $24,578

13. What is total for the debits on the Trial Balance for Shiver Ice House?

Common Stock

$120,000

Accounts Payable

$25,000

Cash

$116,640

Accounts Receivable

$22,450

Supplies

$ 1,500

Office Equipment

$23,300

Prepaid Rent

$ 3,200

Unearned Revenue

$ 4,152

Revenue

$ 20,000

Utilities Expense

$ 422

Retained Earnings

$ 30,000

Shaving Equipment

$31,640

A. $291,340

B. $106,964

C. $199,152

D. $193,390

E. $203.152

14. Find net income using the following transactions.1. Bill Co. paid $2,000 for one month rent

1.

Bill Co. paid $2,000 for one month rent

2.

Bill Co. paid $1,200 for two weeks wages

3.

Bill Co. performed $5,200 in consulting services on account

4.

Bill Co billed a customer $1,500 for services performed

5.

Bill Co. received $5,200 in payment for item 3

6.

Bill Co performed services and immediately collected $2,000

7.

Bill Co. paid $500 for advertising in the local paper

A. $10,200

B. $ 5,000

C. $ 8,700

D. $13,900

E. $ 7,000

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