+1-316-444-1378

11. What are the total assets for Shiver Ice House

Common Stock

$120000

Accounts Payable

$25000

Cash

$116640

Accounts Receivable

$22450

Supplies

$ 1500

Office Equipment

$23300

Prepaid Rent

$ 3200

Unearned Revenue

$ 4152

Revenue

$ 20000

Utilities Expense

$ 422

Retained Earnings

$ 30000

Shaving Equipment

$31640

A. $291340

B. $106962

C. $198730

D. $218730

E. $221580

12. What is net income for Shiver Ice House

Common Stock

$120000

Accounts Payable

$25000

Cash

$116640

Accounts Receivable

$22450

Supplies

$ 1500

Office Equipment

$23300

Prepaid Rent

$ 3200

Unearned Revenue

$ 4152

Revenue

$ 20000

Utilities Expense

$ 422

Retained Earnings

$ 30000

Shaving Equipment

$31640

A. $19578

B. $20528

C. $23728

D. $49578

E. $24578

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

Common Stock

$120000

Accounts Payable

$25000

Cash

$116640

Accounts Receivable

$22450

Supplies

$ 1500

Office Equipment

$23300

Prepaid Rent

$ 3200

Unearned Revenue

$ 4152

Revenue

$ 20000

Utilities Expense

$ 422

Retained Earnings

$ 30000

Shaving Equipment

$31640

A. $291340

B. $106964

C. $199152

D. $193390

E. $203.152

14. Find net income using the following transactions.1. Bill Co. paid $2000 for one month rent

1.

Bill Co. paid $2000 for one month rent

2.

Bill Co. paid $1200 for two weeks wages

3.

Bill Co. performed $5200 in consulting services on account

4.

Bill Co billed a customer $1500 for services performed

5.

Bill Co. received $5200 in payment for item 3

6.

Bill Co performed services and immediately collected $2000

7.

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

A. $10200

B. $ 5000

C. $ 8700

D. $13900

E. $ 7000

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