1. The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. All...
1.
The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. All accounts have normal balances.
| Accounts Payable |
1,500 |
Fees Earned |
3,000 |
|
| Accounts Receivable |
1,800 |
Insurance Expense |
1,300 |
|
| Investment |
2,000 |
Land |
3,000 |
|
| Cash |
2,600 |
Wages Expense |
1,400 |
|
| Withdrawals |
1,200 |
Owner’s Equity |
8,800 |
|
Prepare a trial balance. The total of the debits is
a. $13,300
b. $9,400
c. $9,100
d. $9,600
e. $20,600
2. Which of the following is nota short-cut in finding errors on the trial balance?
a. Determine the difference between debits and credits and look for the amount.
b. Determine the amount and change any account to make the trial balance correct.
c. Determine the difference between debits and credits, divide the amount by 2, look for the amount.
d. Determine the difference between debits and credits, divide the amount by 9, if it divides evenly, look for a transposition or slide error.
Homework Answers
| 1 | ||
| Debit | Credit | |
| Cash | 2600 | |
| Accounts Receivable | 1800 | |
| Land | 3000 | |
| Investment | 2000 | |
| Accounts Payable | 1500 | |
| Owner’s Equity | 8800 | |
| Withdrawals | 1200 | |
| Fees Earned | 3000 | |
| Insurance Expense | 1300 | |
| Wages Expense | 1400 | |
| Total | 13300 | 13300 |
| The total of the debits is $13,300 | ||
| Option A is correct | ||
| 2 |
| The following method is not a short-cut in finding errors on the trial balance |
| Determine the amount and change any account to make the trial balance correct. |
| Option B is correct |
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1.
The accounts in the ledger of Monroe Entertainment Co. are
listed in alphabetical order. All...
The accounts in the ledger of Monroe Entertainment Company are listed in alphabetical order. All accounts...
The accounts in the ledger of Monroe Entertainment Company are listed in alphabetical order. All accounts have normal balances. Accounts payable 1 500 Fees earned 3 000 Accounts receivable 1 800 Insurance expense 1 300 Investment 2 000 Land 3 000 Cash 2 600 Wages expense 1 400 Dividends 1 200 Contributed equity 8 800 Prepare a trial balance. What is the total of the debits? a. $13 300 b. $9 400 c. $9 100 d. $9 600
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal...
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts Payable $446 Fees Earned $2,689 Accounts Receivable 849 Insurance Expense 558 Prepaid Insurance 1,941 Land 2,400 Cash 2,025 Wages Expense 649 Dividends 706 Common Stock 5,993 Prepare a trial balance. The total of the debits is $9,128 $7,215 $1,207 $5,993
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal...
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Account Payable $476 Fees Earned $3,049 Accounts Receivable 711 Insurance Expense 656 Prepaid Insurance 1,923 Land 2,973 Cash 1,881 Wages Expense 543 Dividends 641 Common Stock 5,803 Prepare a trial balance. The total of the debits is $5,803 $9,328 $1,199 $7,488
The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances....
The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances. Accounts Payable $501 Fees Earned $3,116 Accounts Receivable 651 Insurance Expense 579 Cash 1,825 Kim Monroe, Capital 5,522 Kim Monroe, Drawing 685 Land 2,700 Prepaid Insurance 1,974 Wages Expense 725 When a trial balance is prepared, the total of the debits will be Oa. $9,139 Ob. $2,977 Oc. $1,812 Od: $5,522
v2.cengagenow.com The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal...
v2.cengagenow.com The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances. $3,186 517 6,306 2,933 731 Accounts Payable $513 Fees Earned Accounts Receivable 789 Insurance Expense Cash 2,095 Kim Monroe, Capital Kim Monroe, Drawing 772 Land Prepaid Insurance 2,168 Wages Expense When a trial balance is prepared, the total of the debits will be Oa $1,938 Ob. $3,397 Oc. $10,005 d. $6,306 Previous Next > All work saved Submit Test for Grading
10. The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have...
10. The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts Payable $1,500 Fees Earned $3,600 Accounts Receivable 1,800 Insurance Expense 1,300 Prepaid Insurance 2,000 Land 3,000 Cash 3,200 Wages Expense 1,400 Drawing 1,200 Capital 8,800 The total of all the assets is a. $10,000 b. $8,000 c. $9,700 d. $9,800 11. The classification and normal balance of the accounts payable account is an asset with a credit balance a liability with...
Following are the general ledger account balances, listed in alphabetical order Accounts payable Accounts receivable Accumulated...
Following are the general ledger account balances, listed in alphabetical order Accounts payable Accounts receivable Accumulated depreciation-equipment 3,700 Rent expense Cash Common shares Dividends declared Equipment s 3,000 Held for trading investments 5,600 400 900 11,720 3,700 6,020 160 4,000 Income tax expense 2,400 Retained earnings 9,100 Salaries expense 300 Service revenue 16,400 Unearned revenue Identify the normal balance of each account. Normal Balance Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Dividends declared Equipment Held for trading investments...
The accounts in the ledger of Monroe Entertainment Co, are listed below. All accounts have normal...
The accounts in the ledger of Monroe Entertainment Co, are listed below. All accounts have normal balances Accounts Payable Accounts Receivable Prepaid Insurance Cash Dividends $598 Fees Eamed 884 Insurance Expense 1.790 Land 1,763 Wages Expense 529 Common stock $3,057 596 2,981 629 5,517 Total assets are $7.418 $3,057 $5,517 $3,245 151 words e alp a ® SX BOMPI w1
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal...
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. $564 Fees Earned $3,160 737 Insurance Expense 423 500 Rent expense 1,500 Accounts payable Accounts receivable Supplies Prepaid insurance Cash Office equipment Dividends 2,003 Land 2,438 759 1,783 1,800 Wages expense Retained earnings Common stock 5,500 614 5,033 Unearned rent 1,600 Total assets are Oa. $3,084 Ob. $5,033 Oc. $9,261 Od. $3,160
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal...
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts payable Accounts receivable $2,773 598 Supplies 1,500 1.500 Prepaid insurance $417 849 500 1,571 2,078 ,800 694 1,600 Fees Earned Insurance Expense Rent expense Land Wages expense Retained earnings Common stock 2,631 Cash 1 Office equipment Dividends Unearned rent 502 5,500 5,733 Total assets are a. $5,733 b. $9,429 CC. $2,773 Cd. $3,344
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts Payable $446 Fees Earned $2,689 Accounts Receivable 849 Insurance Expense 558 Prepaid Insurance 1,941 Land 2,400 Cash 2,025 Wages Expense 649 Dividends 706 Common Stock 5,993 Prepare a trial balance. The total of the debits is $9,128 $7,215 $1,207 $5,993
The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances. Accounts Payable $501 Fees Earned $3,116 Accounts Receivable 651 Insurance Expense 579 Cash 1,825 Kim Monroe, Capital 5,522 Kim Monroe, Drawing 685 Land 2,700 Prepaid Insurance 1,974 Wages Expense 725 When a trial balance is prepared, the total of the debits will be Oa. $9,139 Ob. $2,977 Oc. $1,812 Od: $5,522
v2.cengagenow.com The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances. $3,186 517 6,306 2,933 731 Accounts Payable $513 Fees Earned Accounts Receivable 789 Insurance Expense Cash 2,095 Kim Monroe, Capital Kim Monroe, Drawing 772 Land Prepaid Insurance 2,168 Wages Expense When a trial balance is prepared, the total of the debits will be Oa $1,938 Ob. $3,397 Oc. $10,005 d. $6,306 Previous Next > All work saved Submit Test for Grading
Following are the general ledger account balances, listed in alphabetical order Accounts payable Accounts receivable Accumulated depreciation-equipment 3,700 Rent expense Cash Common shares Dividends declared Equipment s 3,000 Held for trading investments 5,600 400 900 11,720 3,700 6,020 160 4,000 Income tax expense 2,400 Retained earnings 9,100 Salaries expense 300 Service revenue 16,400 Unearned revenue Identify the normal balance of each account. Normal Balance Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Dividends declared Equipment Held for trading investments...
The accounts in the ledger of Monroe Entertainment Co, are listed below. All accounts have normal balances Accounts Payable Accounts Receivable Prepaid Insurance Cash Dividends $598 Fees Eamed 884 Insurance Expense 1.790 Land 1,763 Wages Expense 529 Common stock $3,057 596 2,981 629 5,517 Total assets are $7.418 $3,057 $5,517 $3,245 151 words e alp a ® SX BOMPI w1
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. $564 Fees Earned $3,160 737 Insurance Expense 423 500 Rent expense 1,500 Accounts payable Accounts receivable Supplies Prepaid insurance Cash Office equipment Dividends 2,003 Land 2,438 759 1,783 1,800 Wages expense Retained earnings Common stock 5,500 614 5,033 Unearned rent 1,600 Total assets are Oa. $3,084 Ob. $5,033 Oc. $9,261 Od. $3,160
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts payable Accounts receivable $2,773 598 Supplies 1,500 1.500 Prepaid insurance $417 849 500 1,571 2,078 ,800 694 1,600 Fees Earned Insurance Expense Rent expense Land Wages expense Retained earnings Common stock 2,631 Cash 1 Office equipment Dividends Unearned rent 502 5,500 5,733 Total assets are a. $5,733 b. $9,429 CC. $2,773 Cd. $3,344
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