Post a New Question

college- accounting

posted by .

We just starting the chapters in accounting in school. We have about 10 problems to do. I will post one problem here and i need someone to show me how exactly they got it, so i understand and it could help me work on the other 9.

here it is-

The comparative Balance Sheets of Savoy Company reported the following selected end-of-year balances:


Assets: Office Supplies inventory- $3,000
liabilities: Unearned Rent Revenue- $9,000


Assets: Office Supplies inventory- $2,000
liabilities: Unearned Rent Revenue- $7,000

The 2010 Income Statement reported the following amounts:

For the Year Ended 12/31/2010

Revenues: Rent Revenue- $18,000
Expenses: Office supplies expenses- $6,000

a. The total amount of office supplies that were purchases during 2010 was: $____________

b. The total amount of cash that was collected from tenanats during 2010 was: $_____________

I would really appreciate if someone can take the time out and just briefly explain how they get the answers to this. So i can do the rest of the 9. they are all very similar.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Math

    How do you work this problem step by step?
  2. HELP

    3. Page 213 #18 6,-5 4. Page 222 #24 4x+3=4 5. Page 223 #54 The y intercept is -4 and the line whose equation is 2x+5=8 6. Page 233 #24 Passing though(-2,-5) 7. Page 233 #52 Passing though (-4,2) and perpendicular to the line whose …
  3. Math Help Please

    I got this problem today in school, and I don't know how to go about soving it. Can someone show me. Thanks. Here it is. The distance s(t) between an object and its starting point is given by the antiderivative of velocity function …
  4. Algebra

    I am having such a hard time in this class. Hopefully someone here can help me to understand some of what they are trying to teach me. I have a problem here and have been working on it for about an hour now and I can not figure it …
  5. Accounting

    I have almost completed my assignment, but am stuck on this question. I researched my text and other outside sources and can't seem to find the answer. Can anyone provide any guidance on this for me?
  6. accounting

    Can someone give me the site where I can do practice problems for Managerial Accounting. My instructor bases his exam on the CPA, the homework is easy. He said that he wants us to think outside the box. I need practice. All were word …
  7. accounting

    You have been asked to speak at a career fair for high school students in your home town. Specifically, you are making a presentation about your role as an accountant. •Describe for the students the primary objectives of accounting. …
  8. Accounting

    I have a problem with management accounting However, I have trouble posting the question here Is it possible that i can send it to someone for their assistance
  9. accounting

    I need help, do not want the answer just stuck on how to solve this one. Here is the problem Elkins Company sold $2,500,000, 8%, 10-year bonds on July 1, 2011. The bonds were dated July 1, 2011, and pay interest July 1 and January …
  10. Accounting

    Can someone please help me with this? Compare and contrast the primary purpose of the generally accepted accounting principles (GAAP) with the accounting principles of the U.S. Department of Treasury. Is it important to understand

More Similar Questions

Post a New Question