Jefferson Jerome is interested in purchasing “Art Specialists, Inc.”, an auction house. The company receives the right to sell art, but not to purchase the art themselves, for a 5% commission. Art Specialists rents office space and holds its auctions at local hotels.
Art Specialists, Inc.
Unadjusted Trial Balance
| December 31, 2009 Cash | $ 65,000.00 | ||
| Accounts receivable | $ 36,000.00 | ||
| Supplies | $ 8,000.00 | ||
| Equipment | $ 53,000.00 | ||
| Accumulated Depreciation | $ 14,500.00 | ||
| Accounts payable | $ 5,600.00 | ||
| Dividends | $ 50,000.00 | ||
| Capital stock | $ 25,000.00 | ||
| Retained earnings | $ 84,900.00 | ||
| Commission income | $ 250,000.00 | ||
| Rent Expense | $ 20,000.00 | ||
| Wages Expense | $ 70,000.00 | ||
| Auction Expenses | $ 56,000.00 | ||
| Depreciation Expenses | $ 7,000.00 | ||
| Membership Expenses | $ 6,000.00 | ||
| Supplies Expense | $ 9,000.00 | ||
| TOTAL | $ 380,000.00 | $ 380,000.00 | |
Economic Debate- Progressive Income Tax For this Economic Debate, we are going to discuss the…
TOPIC: Going Global Discussion Thread 1 (initial post due Wednesday for full credit) Please note:…
Assignment Topic This week will culminate in the creation of a narrated PowerPoint to create…
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. Assignments submitted…
you need to post your 2-page information flier to share with your Final Project Group.…
discussion: Discuss the methods used at your company to measure and ensure quality products and…