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
