e. Prepaid insurance 3300 Cash 3600Insurance Expense 300f. Cost of food 18000 Accounts Payable 18000g. Wages 3500 Cash 3500h. Beverage Inventory 2000 Cash 2000Cost of beverage 8000 Beverage Inventory 8000i. Utilities expense 500 Cash 500j. Salaries expense 2000 Salaries Payable 2000k. Cash 90000 Food sales 60000Beverage sales 30000l. Guest supplies 2000 Cash 2000TOTAL 401600 401600Adjusted trial balanceAccount Debits CreditsCash CA £128,400Building FA £150,000Beverage Inventory CA £4,000Equipment FA £12,000Prepaid insurance CA £3,300Insurance Expense Expense £300AmountCost of food Expense £18,000Cost of beverage Expense £8,000Wages Expense £3,500Salaries expense Expense £2,000Utilities expense Expense £500Guest supplies Expense £2,000Accounts Payable CL £40,000Bank Loan NCL £100,000Salaries Payable CL £2,000Owner's Equity Equity £100,000Food sales Revenue £60,000Beverage sales Revenue £30,000£332,000 £332,000Profit & loss statementRevenuesFood sales £60,000Beverage sales £30,000Total Revenues £90,000Cost of goods soldCost of food £18,000Cost of beverage £8,000Total cost of sales (£26,000)Salaries expense £2,000Wages £3,500Total Salaries $ Wages (£5,500)

Cash 25,450Accounts Receivable 25,500Inventory 85,000Prepaid Expenses 4,950Motor vehicle 68,000Equipment 155,000Accounts Payable 35,000Unearned Revenue 8,000Wages Payable 15,000Bank Loan 50,000Share Capital 235,000Retained Earnings 10,000Dividends -5,000Revenue 53,650Cost of Sales -12,450Wages Expense -15,000Interest expense -2,500Marketing expense -2,800Insurance expense -5,000Calculate NET PROFIT

Revenue K98,200; Food and drinks K25,000; Salaries & Wages K14,000; Advertising K6,000; Miscellaneous K200; Unearned Rent K4,000; Prepaid expenses K500; Water and power bills K 8,000 and Accrued expenses K9,000. Use this information to create a income statement

8,700Prepaid insurance                                                         9,400Accounts receivable                                                     7,000Accounts payable                                                          5,800Notes payable                                                                9,400Owner’s Capital                                                             2,300Owner’s Drawings                                                         1,400Revenues                                                                      44,000Expenses                                                                       35,000What is the total of accounts with credit balances for Qwik Company?Group of answer choices$52,400$61,500$62,900$57,900

Listed below are several transactions that took place during the first two years of operations for an accounting firm.  Year 1 Year 2Amounts billed to clients for services rendered $ 260,000 $ 325,000Cash collected from clients 208,000 293,000Cash disbursements:    Salaries paid to employees for services rendered during the year 104,000 130,000Utilities 62,000 87,000Purchase of insurance policy 64,000 0     Additional information:    Utility costs - Year 1   $50,000Liabilities - End of Year 2   0Anticipated bad debts on receivables   0Insurance policy term 4 yearsRequired:Calculate the net operating cash flow for years 1 and 2.Calculate the amount of receivables from clients that the firm would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model.Prepare an income statement for each year according to the accrual accounting model.Navigation:Use the Open Excel in New Tab button to launch this question.When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect.

You've been provided with the following Trial BalanceCash           5,000Accounts Receivable           6,000Inventory           2,000Prepaid Expenses              500Property Plant Equipment         25,000Land         20,000Accounts Payable         10,000Unearned Revenue           2,500Wages Payable           3,500Bank Loan         20,000Share Capital         15,000Retained Earnings         10,000Dividends         (5,200)Revenue         15,000Cost of Sales         (6,500)Marketing Expense         (2,000)Rent Expense         (1,500)Wages Expense            (800)Utilities Expense         (1,500)Calculate GROSS PROFIT