AssignmentAssist
Homework Made Simple
Latest Questions
Talbot Riding Stables provides stables, care for animals, and grounds for riding and showing horses. The account balances at the beginning of 2018 were:Problem Set B Enlarge Image During 2018, the following transactions occurred: Talbot provided animal care services, all on credit, for $210,300. Talbot rented stables to customers for $20,500 cash. Talbot rented its grounds to individual riders, groups, and show organizations for $41,800 cash.There remains $15,600 of accounts receivable to be collected at December 31, 2018.Feed in the amount of $62,900 was purchased on credit and debited to the supplies account.Straw was purchased for $7,400 cash and debited to the supplies account.Wages payable at the beginning of 2018 were paid early in 2018. Wages were earned and paid during 2018 in the amount of $112,000.The income tax payable at the beginning of 2018 was paid early in 2018. Payments of $73,000 were made to creditors for supplies previously purchased on credit. One year's interest at 9% was paid on the notes payable on July 1, 2018. During 2018, Jon Talbot, a principal shareholder, purchased a horse for his wife, Jennifer, to ride. The horse cost $7,000, and Talbot used his personal credit to purchase it. Property taxes were paid on the land and buildings in the amount of $17,000. Dividends were declared and paid in the amount of $7,200. The following data are available for adjusting entries: Supplies (feed and straw) in the amount of $30,400 remained unused at year-end. Annual depreciation on the buildings is $6,000. Annual depreciation on the equipment is $5,500. Wages of $4,000 were unrecorded and unpaid at year-end. Interest for six months at 9% per year on the note is unpaid and unrecorded at year-end. Income taxes of $16,500 were unpaid and unrecorded at year-end.
This is a statement that can be proved to be true. Fact This is a statement that reflects a writer's belief about a topic , and it cannot be proved. Opinion This is the attitude that an author takes toward the audience, the subject, or a character. This is the kind of writing that urges readers to accept an author's opinions. This is a plan an author uses to effectively deliver the intended message in written work. This is the reasoning used to reach a conclusion based on a set of assumptions, or it may be defined as the science of reasoning, proof, thinking, or inference. This is information that supports a generalization. This is a writer's point of view about a particular subject, and is often influenced by their beliefs or by events in their lives. This is a prejudice that is leaning toward a positive or negative judgment on something; a personal judgment or opinion about a particular person, position, or thing. This is to get a conclusion from the facts or context; to figure out what is being implied by reading between the lines. This is a statement that is sound or just, well-founded.