Questions
The problem to be resolved: Baltic Supplies Unadjusted Trial Balance as at December 31st, 2018 is...

The problem to be resolved:

Baltic Supplies Unadjusted Trial Balance as at December 31st, 2018 is as follows:

Accounts Debit Credit

Cash

620000
Accounts Receivable 410000
Merchandise Inventory 480000
Store Supplies 144800
Prepaid Insurance Expense 840000
Building and Equipment 2000000
Accumulated Depreciation- Building and Equipment 976000
Accounts Payable 680000
Travelling Expense Payable
Unearned Sales Revenue 450000
Note payable Long term 213800
Baltic Capital 1700000
Baltic Withdrawal 35000
Sales Revenue Earned 2550500
Sales Discount 45100
Sales returns and allowances 62500
Cost of goods sold 401000
Salaries expense 430000
Telephone expense 85000
Depreciation expense- Building and Equipment
Insurance expense 630000
Store supplies expense 130000
Electricity expense 105000
Bad debt expense 65400
Travelling expense 25000
Interest expense 61500
6,570,300 6,570,300

The following additional information was made available at December 31, 2018

  1. Unearned sales revenue, still NOT earned at December 31, 2018 amounted $65,500.
  2. The prepaid insurance of $840,000 was paid on July 1, 2018 for 8-months to February 2019.
  3. The Building and Equipment has an estimated life of ten (10) years and is being depreciated on the double declining balance method of depreciation, down to a residual value of $10,000.
  4. Accrued travelling expense amounted to $8,800 at December 31, 2018.
  5. A physical count of inventory at December 31, 2018, reveals $485,000 worth of inventory on hand.

  1. Prepare the necessary adjusting entries on December 31, 2018.
  2. Prepare the company adjusted trial balance as at December 31, 2018
  3. Prepare the company’s Multiple-step Income Statement for the year ended December 31, 2018.
  4. Prepare the company’s Statement of Owner’s Equity for the year ended December 31, 2018. Prepare the company’s classified Balance Sheet at December 31, 2018.
  5. Prepare the company’s classified Balance Sheet at December 31, 2018.

In: Accounting

Revenue recognition – accrual basis vs. cash basis: Ring The Bells, Inc. provides doorbell repair services...

Revenue recognition – accrual basis vs. cash basis: Ring The Bells, Inc. provides doorbell repair services to customers and began operations in February 2018. On March 4th, 2018, Ring The Bells, Inc. collected $2,400 in cash from customers for services performed in February 2018. On March 11th, Ring The Bells, Inc. provided $690 worth of services to customers, all of whom paid in cash. On March 25th, 2018 Ring the Bells provided additional services worth $3,470 on account to customers, which will not be collected until April.

(1pt) Using accrual-basis accounting, how much revenue would Ring the Bells record for March 2018? Briefly explain or show how you got your answer.

(1pt) Using cash-basis accounting, how much revenue would Ring the Bells record for March 2018? Briefly explain or show how you got your answer.

Expense recognition – accrual basis vs. cash basis: Ring The Bells, Inc. provides doorbell repair services to customers and began operations in February 2018. On March 2nd, 2018, Ring The Bells, Inc. paid $800 in cash to creditors for supplies purchased on account on February 1st and used in February 2018. On March 15th, Ring The Bells, Inc. paid $1,850 in cash to employees for work done March 1st-15th. On March 29th, 2018 Ring the Bells received a bill of $720 from the utility company for March utilities used which will not be paid until April.

(1pt) Using accrual-basis accounting, how much in expenses would Ring the Bells record for March 2018? Briefly explain or show how you got your answer.

(1pt) Using cash-basis accounting, how much in expenses would Ring the Bells record for March 2018? Briefly explain or show how you got your answer.

In: Accounting

nonvariable cost( NonVc) Year 1. - $3,000 annual change in non-vc after year 1 6.00% calculate...

nonvariable cost( NonVc) Year 1. -
$3,000

annual change in non-vc after year 1 6.00%
calculate the cost of non-variable for the year 2

In: Finance

Use Method of Undetermined Coefficients te find a particular solution of the non-homogeneous equation. Find general solution of the non-homogeneous equation.

Use Method of Undetermined Coefficients te find a particular solution of the non-homogeneous equation. Find general solution of the non-homogeneous equation.

y''+4y=3csc2t

  

In: Advanced Math

Clinical experience of 1 example of Therapeutic Communication Technique use and 1 Non Therapeutic Technique use (verbal or non verbal)

Clinical experience of 1 example of Therapeutic Communication Technique use and 1 Non Therapeutic Technique use (verbal or non verbal), and identify the technique that was been used . 

In: Nursing

What does non-coding DNA do and where did it come from? What conflicting factors act to...

What does non-coding DNA do and where did it come from? What conflicting factors act to increase or decrease the amount of non-coding DNA?

In: Biology

The following submission rules apply: • For those questions requiring programs, the solutions must be implemented...

The following submission rules apply: • For those questions requiring programs, the solutions must be implemented using JavaScript or Java. o Appropriate self-documenting comments in the source code are mandatory, consistent with good programming practices. o Solutions must be provided in plain text so that formatting is not lost. • All answers must be provided in this document. • Sources must be given accurate and complete citations sufficient for the instructor to find and confirm them.

1. Demonstrate the action of ShellSort on the list (33, 2, 56, 23, 55, 78, 2, 98, 61, 108, 14, 60, 56, 77, 5, 3, 1), with increments (5, 3, 1)

In: Computer Science

This format should allow you more time to think about your answer. The length of your...

This format should allow you more time to think about your answer. The length of your answers should range from 2-4 paragraphs, depending on the complexity of the question. Each question is worth 10 points. Remember to use the readings and your class notes to answer the questions. Use citations/quotes and then go on to interpret and explain the quote in your own words.

Use the circuits of industrial capital to describe the location of capitalist profit. Be sure to explain what “surplus value” is and how it is created. Go on to describe the 3 main factors that influence the rate of surplus value and give examples of each one using contemporary 21st century examples.

In: Economics

I would prefer a nurse to answer this question please. Thanks Medication reconciliation is an essential...

I would prefer a nurse to answer this question please. Thanks

Medication reconciliation is an essential competency for the RN.

Explain the RN’s role in medication reconciliation and how it promotes patient safety.

Based on the QSEN Competencies, identify interventions the RN can implement to promote a culture of safety across the continuum of patient care.

Case Western Reserve University. (2014). QSEN Competencies. Retrieved from http://qsen.org/competencies/pre-licensure-ksas/

Base your initial post on your readings and research of this topic. Your initial post must contain a minimum of 250 words. References, citations, and repeating the question do not count towards the 250 word minimum.

In: Nursing

Research a diet currently being used by the public. It can be a commercial diet such...

Research a diet currently being used by the public. It can be a commercial diet such as Atkins, Weight Watchers; a regional diet such as Mediterranean; or one that focuses on types of food such as vegan.

Identify the name of the diet and its purpose (weight maintenance, long term health, etc.). Explain its key points in terms of nutrition (focus on protein, carbohydrates, etc.). Also discuss the diet plan and the diet's strengths and weaknesses. Summarize your paper by evaluating whether you believe the diet is one that is healthy as compared to dietary guidelines.
The writing assignment should be no more than 2-3 pages and APA Editorial Format must be used for citations and references used.

In: Nursing