can you please help with the following

1. A company has $123,000 in Assets and $65,000 in Liabilities.

How much does the company have in Stockholders’ Equity?

Haven’t Found The Relevant Content? Hire a Subject Expert to Help You With
can you please help with the following
Post Your Own Question And Get A Custom Answer
Hire Writer

2. Beginning Retained Earnings are $65,000, sales are $29,500,

expenses are $33,000, and dividends paid are $3,500. How

much is the amount in ending Retained Earnings?

3. The Notes Payable account began with a zero balance and

then had the following changes: increase of $500, increase of

$200, decrease of $550, and increase of $250. What is the

final balance in the Notes Payable account, and is it a debit or credit?

4. The trial balance for Motor Work, Inc. contains the following balances:

What is the amount of total debits for this trial balance?

5. On January 1, 2014, a company paid $36,000 for a machine with a salvage value of

$4,000. If the company uses straight-line depreciation for 10 years, what is the

depreciation expense for 2014?

6. The total revenues of $6,500, total expenses of $3,500, and dividends of $500 were

recorded in the closing entries for September. What is the net change in Retained

Earnings for the month?

7. Cosmo Co. purchases goods for resale from Galaxy, Inc. The amount of a recent purchase

is $12,500 with terms of 3/10, n/30. Cosmo later returns $500 worth of the goods. Under

the perpetual inventory method, what is the journal entry to record the return?

8. A company has net sales of $126,000, cost of goods sold of $72,000, operating

expenses of $38,000, and other expenses of $3,000. What is the company’s operating


9. Olympic Enterprises has the following inventory data:

Assuming average cost, what is the cost of goods sold for the June 7 sale?

Date Quantity Unit cost

June 1 Beginning inventory 5 $52

June 4 Purchase 10 $55

June 7 Sale 12

June 11 Purchase 9 $58

June 14 Sale 8

Accounts payable $267

Accounts receivable $429

Cash $367

Expenses $103

Revenue $632

10. A company has $8,200 in net sales, $1,100 in gross profit, $2,500 in ending inventory,

and $2,000 in beginning inventory. What is the company’s cost of goods sold?

11. Goods available for sale total $25,000, beginning inventory is $8,000, ending inventory

is $12,000, and cost of goods sold is $10,000. How many days is the days-sales-ininventory?

12. Identify the following two schemes:

1. An employee gives a false refund and pockets the cash.

2. An employee receives a check from a customer, endorses it, and then cashes it.

13. Which part of the Fraud Triangle relates to committing a fraud because one feels that it

will be easy to do?

14. A company has $317,000 in credit sales. The company uses the allowance method to

account for uncollectible accounts, and the Allowance for Doubtful Accounts now has

an $8,150 debit balance. If the company estimates 6% of credit sales will be uncollectible,

what is the amount of the journal entry for the estimated uncollectible


15. Bestway, Inc. had credit sales of $142,000 for the period. The balance in Allowance

for Doubtful Accounts is a debit of $643. If Bestway ages accounts receivable and

determines estimated uncollectible accounts to be $2,840, what is the required

journal entry to record estimated uncollectible accounts?

16. After four years, a machine had an accumulated depreciation of $38,000. The machine

originally had an anticipated life of eight years and a salvage value of $5,000. If the

current book value after four years is $43,000 and the machine has only two years of

usable life left, how much will be depreciated in year five and in year six using the

straight-line method of depreciation, and assuming the salvage value is still $5,000?

17. Equipment costing $118,000 has accumulated depreciation of $92,000. The equipment

is a trade-in for new equipment costing $187,000. If the trade-in value received for

the old equipment is $30,000, what is the journal entry to record this transaction?

18. On January 1, Bestway, Inc. signed a $175,000, 8%, 30-year mortgage that requires

semiannual payments of $7,735 on June 30 and December 31 of each year. What is

the journal entry to record the second semiannual payment (round interest calculation

to the nearest dollar?

19. $200,000 of 6%, 25-year bonds were sold for $190,000 on January 1. The bonds

require semiannual interest payments on June 30 and December 31. What is the

journal entry to record the June 30 interest payment on the bonds?

20. Liberty Company declared a $40,000 cash dividend to shareholders. The company has

5,000 shares of $20-par, 6% preferred stock and 10,000 shares of $15-par common

stock. The preferred stock is cumulative. How much will be distributed to the preferred

and common stockholders on the date of payment if the preferred stock is $12,000

in arrears?

21. Arc Electric, Inc. has 400,000 shares of $10-par common stock outstanding. They

have declared a 5% stock dividend. The current market price of the common stock is

$18/share. What is the amount that will be credited to Paid-in Capital in Excess of Par

Common Stock on the date of declaration?

22. Prestige Auto’s records show net income of $30,000, depreciation expense of $10,000,

and cash dividends paid of $5,000. Using the indirect method, determine the cash flow

from operating activities on the cash flow statement.

23. Operating expenses for the year, other than depreciation, were $563,000. Accrued

expenses decreased by $47,000. Using the direct method, determine the cash payments

for operating expenses to be reported on the cash flow statement.

24. A company has $56,000 in cash, $12,000 in accounts receivable, $25,000 in shortterm

investments, and $100,000 in merchandise inventory. The company also has

$60,000 in current liabilities. What is the company’s quick ratio (rounded to the nearest


25. If sales are $100,000, net income is $22,700, beginning stockholders’ equity is

$88,000, and ending common stockholders’ equity is $84,000, what is the return on equity?


Date Quantity Unit cost

June 1 Beginning inventory 5 $52

June 4 Purchase 10 $55

June 7 Sale 12

June 11 Purchase 9 $58

June 14 Sale 8

Accounts payable $267

Accounts receivable $429

Cash $367

Expenses $103

Revenue $632

Calculate the price of your order

Select your paper details and see how much our professional writing services will cost.

We`ll send you the first draft for approval by at
Price: $36
  • Freebies
  • Format
  • Formatting (MLA, APA, Chicago, custom, etc.)
  • Title page & bibliography
  • 24/7 customer support
  • Amendments to your paper when they are needed
  • Chat with your writer
  • 275 word/double-spaced page
  • 12 point Arial/Times New Roman
  • Double, single, and custom spacing
  • We care about originality

    Our custom human-written papers from top essay writers are always free from plagiarism.

  • We protect your privacy

    Your data and payment info stay secured every time you get our help from an essay writer.

  • You control your money

    Your money is safe with us. If your plans change, you can get it sent back to your card.

How it works

  1. 1
    You give us the details
    Complete a brief order form to tell us what kind of paper you need.
  2. 2
    We find you a top writer
    One of the best experts in your discipline starts working on your essay.
  3. 3
    You get the paper done
    Enjoy writing that meets your demands and high academic standards!

Samples from our advanced writers

Check out some essay pieces from our best essay writers before your place an order. They will help you better understand what our service can do for you.

Get your own paper from top experts

Order now

Perks of our essay writing service

We offer more than just hand-crafted papers customized for you. Here are more of our greatest perks.

  • Swift delivery
    Our writing service can deliver your short and urgent papers in just 4 hours!
  • Professional touch
    We find you a pro writer who knows all the ins and outs of your subject.
  • Easy order placing/tracking
    Create a new order and check on its progress at any time in your dashboard.
  • Help with any kind of paper
    Need a PhD thesis, research project, or a two-page essay? For you, we can do it all.
  • Experts in 80+ subjects
    Our pro writers can help you with anything, from nursing to business studies.
  • Calculations and code
    We also do math, write code, and solve problems in 30+ STEM disciplines.

Frequently asked questions

Get instant answers to the questions that students ask most often.

See full FAQ
  • What if I’m dissatisfied with the paper I get?

    The average quality score at our professional custom essay writing service is 8.5 out of 10. The high satisfaction rate is set by our Quality Control Department, which checks all papers before submission. The final check includes:
    • Compliance with initial order details.
    • Plagiarism.
    • Proper referencing.
    If for some reason we happen to leave a mistake unnoticed, you are invited to request unlimited revisions of your custom-written paper. For more information, check our Revision Policy. We will do our best to make your experience with Familiar Essays enjoyable.
  • I need an essay on the same day. Is it something you can do?

    Sure. Our writing company offers a fast service with an 8-hour deadline for orders up to master’s level. Make sure to specify the deadline in the order form and our writers will write a paper within the indicated timeslot. Just proceed to submit your requirements here Once you order a custom-written essay, our managers will assign your order to the well-suited writer, who has the best skills and experience for preparing your specific assignment. You can also request one of these extra features:
    • Choose the Writer’s Samples option – study 3 randomly-provided pages from orders that have been written by the assigned writer.
    • Request a specific writer – choose an academic writer from the dropdown list in the order’s form (optional for returning customers).
    You can be sure that your custom writing order will be accomplished by one of our 400+ professional academic writers. They all pass a series of tests to prove their writing prowess and hold the reputation of being the most professional in the industry. Want to make sure writer’s skills match your needs? Get more details on how to choose the appropriate author.
  • How can I be sure your writing service is not a scam?

    We understand that a shade of mistrust has covered the paper writing industry, and we want to convince you of our loyalty. Apart from high-quality writing services, we offer:
    • The chances of students to boost writing skills in a quick and effective way.
    • The opportunity to manage studies and free time in an enjoyable manner.
    • The possibilities to improve overall academic performance.
    Our custom writing company has been working for more than 12 years and always puts quality and clients’ needs first. Our operations are legally documented, we are easily accessible online and offline,
  • Is it legal to use your professional writing service?

    Yes. Custom writing help is not prohibited by any university or college. It’s a 100% legal way of getting professional assistance with paper writing. Hiring writers from an essay writing company is in many ways similar to consulting a tutor – we help you solve the writing issues at hand.
  • How does your service work?

    Our custom writing service is a reliable solution on your academic journey that will always help you if your deadline is too tight. You fill in the order form with your basic requirements for a paper: your academic level, paper type and format, the number of pages and sources, discipline, and deadline. Then, you describe the specific details of the paper you need: add the topic, write or paste the instructions, and attach files to be used, if you have them. After that, an online customer support representative chooses the best writer that specializes in your discipline and assigns him or her to complete the paper according to your requirements. When the paper is ready, we check it for plagiarism and send it to you. If you want to change something, you can request a free revision.
See full FAQ

Take your studies to the next level with our experienced specialists

Live ChatWhatsApp