The adjustments columns of the worksheet for Culver Company are shown below.
The adjustments columns of the worksheet for Culver Company are shown below.
Homework Answers
| Account Titles and Explanation | Debit | Credit |
| Service revenue | $880 | - |
| Account receivable | - | $880 |
| (To record revenue for services performed) | ||
| Insurance expense | $246 | - |
| Prepaid insurance | - | $246 |
| (To record insurance companies expired) | ||
| Depreciation expense | $738 | - |
| Accumulated depreciation - Equipment | - | $738 |
| (To record monthly depreciation) | ||
| Salaries and wages expense | $550 | - |
| Salaries and wages payable | - | $550 |
| (To record accrued salaries) |
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The adjustments columns of the worksheet for Culver Company are shown below.
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not journalized. b. posted to the ledger but not journalized. not journalized until after the financial statements are prepared. d. journalized before the worksheet is completed. 2. The information for preparing a trial balance on a worksheet is obtained from financial statements. b. general ledger accounts. general journal entries. d. business documents. 3. After the adjusting entries are journalized and posted to the accounts in...
The adjusted trial balance columns of the worksheet for Culver Company are as follows. Culver Company...
The adjusted trial balance columns of the worksheet for Culver Company are as follows. Culver Company Worksheet (Partial) For the Month Ended April 30, 2019 Adjusted Trial Balance Account Titles Dr. Cr. Cash 11,500 Accounts Receivable 7,500 Prepaid Rent 2,300 Equipment 23,200 Accumulated Depreciation—Equip. 4,900 Notes Payable 5,900 Accounts Payable 4,900 Common Stock 21,200 Retained Earnings 7,930 Dividends 3,400 Service Revenue 15,300 Salaries and Wages Expense 10,800 Rent Expense 800 Depreciation Expense 630 Interest Expense 20 Interest Payable 20...
Exercise 4-04 a-c The adjusted trial balance columns of the worksheet for Culver Company are as...
Exercise 4-04 a-c The adjusted trial balance columns of the worksheet for Culver Company are as follows. Culver Company Worksheet (Partial) For the Month Ended April 30, 2019 Adjusted Trial Balance Account Titles Dr. Cr. Cash 11,500 Accounts Receivable 7,500 Prepaid Rent 2,300 Equipment 23,200 Accumulated Depreciation—Equip. 4,900 Notes Payable 5,900 Accounts Payable 4,900 Common Stock 21,200 Retained Earnings 7,930 Dividends 3,400 Service Revenue 15,300 Salaries and Wages Expense 10,800 Rent Expense 800 Depreciation Expense 630 Interest Expense 20 Interest...
The completed financial statement columns of the worksheet for Ivanhoe Company are shown as follows:
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Worksheet The adjusted trial balance columns of a worksheet for Frankfurt Corporation are shown below. The...
Worksheet The adjusted trial balance columns of a worksheet for Frankfurt Corporation are shown below. The worksheet is prepared for the year ended December 31 Cash Accounts Receivable Equipment Accumulated Depreciation Notes Payable Common Stock Retained Earnings Cash Dividends Service Fees Eamed Rent Expense Salaries Experte Depreciation Expense Totals Adjusted Trial Balance Debit Credit $32.000 34.500 78.000 $42,000 10,000 43,000 38,600 8.000 99.000 36,000 37.100 7.000 $232,600 $212,600 . Complete the worksheet by (a) entering the adjusted trial balance. (b)...
The adjusted trial balance columns of a worksheet for Levitt Corporation are shown below. The worksheet...
The adjusted trial balance columns of a worksheet for Levitt Corporation are shown below. The worksheet is prepared for the year ended December 31 Adjusted Trial Balance Debit Credit 516.000 Accounts Receivable 1R SCO Equipment Accumulated Depreciation 524000 Notes Payable 16.000 Common stock 1000 20.000 Cash Dividends 3.000 Service Fees Earned 79.000 Rent Expense 18.00 Salaries Expense 37.100 Depredationen 9,000 To 5182/600 $182.00 Complete the worksheet by (a) entering the adjusted trial balance. (b) putting in the worksheet income statement...
The adjustments columns of the Trial Balance Worksheet summarize? the: A. closing journal entries. B. cashminus?basis...
The adjustments columns of the Trial Balance Worksheet summarize? the: A. closing journal entries. B. cashminus?basis journal entries. C. dayminus?tominus?day journal entries. D. adjusting journal entries.
The trial balance columns of the worksheet for Wildhorse Compan tudy Wildhorse Company Worksheet For the...
The trial balance columns of the worksheet for Wildhorse Compan tudy Wildhorse Company Worksheet For the Month Ended June 30, 2020 Trial Balance Account Titles Dr. Cr. Cash 2,500 Accounts Receivable 2,700 Supplies 1,800 Accounts Payable 1,100 Unearned Service Revenue 400 Owner's Capital 2,650 Service Revenue 3,600 Salaries and Wages Expense 540 Miscellaneous Expense 210 Total 7,750 7,750 Other data: 1. 2. 3. A physical count reveals $300 of supplies on hand. $190 of the unearned revenue is still unearned...
Work Sheet Extensions for Merchandise Inventory Adjustments:Periodic Inventory System1. Complete the Adjustments columns for...
Work Sheet Extensions for Merchandise Inventory Adjustments:
Periodic Inventory System1. Complete the Adjustments columns for the merchandise
inventory.2. Extend the merchandise inventory to the Adjusted Trial
Balance and Balance Sheet columns.3. Extend the remaining accounts to the Adjusted Trial Balance
and Income Statement columns.4. Prepare a cost of goods sold section from the partial worksheet.The following partial worksheet is taken from Kevin's Gift
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inventory is $51,330.Merchandising Inventory:1. Complete the...
Question 3 The completed financial statement columns of the worksheet for Blossom Company are shown below....
Question 3 The completed financial statement columns of the worksheet for Blossom Company are shown below. Blossom Company Worksheet For the Year Ended December 31, 2017 Income Statement Statement of Financial Position Account No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 6,444 112 Accounts Receivable 7,450 130 Prepaid Insurance 2,023 157 Equipment 33,902 158 Accumulated Depreciation—Equip. 10,743 201 Accounts Payable 11,131 212 Salaries and Wages Payable 3,287 311 Share Capital—Ordinary 20,000 320 Retained Earnings 10,300 332 Dividends 2,166 400...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not journalized. b. posted to the ledger but not journalized. not journalized until after the financial statements are prepared. d. journalized before the worksheet is completed. 2. The information for preparing a trial balance on a worksheet is obtained from financial statements. b. general ledger accounts. general journal entries. d. business documents. 3. After the adjusting entries are journalized and posted to the accounts in...
Worksheet The adjusted trial balance columns of a worksheet for Frankfurt Corporation are shown below. The worksheet is prepared for the year ended December 31 Cash Accounts Receivable Equipment Accumulated Depreciation Notes Payable Common Stock Retained Earnings Cash Dividends Service Fees Eamed Rent Expense Salaries Experte Depreciation Expense Totals Adjusted Trial Balance Debit Credit $32.000 34.500 78.000 $42,000 10,000 43,000 38,600 8.000 99.000 36,000 37.100 7.000 $232,600 $212,600 . Complete the worksheet by (a) entering the adjusted trial balance. (b)...
The adjusted trial balance columns of a worksheet for Levitt Corporation are shown below. The worksheet is prepared for the year ended December 31 Adjusted Trial Balance Debit Credit 516.000 Accounts Receivable 1R SCO Equipment Accumulated Depreciation 524000 Notes Payable 16.000 Common stock 1000 20.000 Cash Dividends 3.000 Service Fees Earned 79.000 Rent Expense 18.00 Salaries Expense 37.100 Depredationen 9,000 To 5182/600 $182.00 Complete the worksheet by (a) entering the adjusted trial balance. (b) putting in the worksheet income statement...
The trial balance columns of the worksheet for Wildhorse Compan tudy Wildhorse Company Worksheet For the Month Ended June 30, 2020 Trial Balance Account Titles Dr. Cr. Cash 2,500 Accounts Receivable 2,700 Supplies 1,800 Accounts Payable 1,100 Unearned Service Revenue 400 Owner's Capital 2,650 Service Revenue 3,600 Salaries and Wages Expense 540 Miscellaneous Expense 210 Total 7,750 7,750 Other data: 1. 2. 3. A physical count reveals $300 of supplies on hand. $190 of the unearned revenue is still unearned...
Work Sheet Extensions for Merchandise Inventory Adjustments:
Periodic Inventory System1. Complete the Adjustments columns for the merchandise
inventory.2. Extend the merchandise inventory to the Adjusted Trial
Balance and Balance Sheet columns.3. Extend the remaining accounts to the Adjusted Trial Balance
and Income Statement columns.4. Prepare a cost of goods sold section from the partial worksheet.The following partial worksheet is taken from Kevin's Gift
Shop for the year ended December 31, 20--. The ending merchandise
inventory is $51,330.Merchandising Inventory:1. Complete the...
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