Homework Answers
|
Date |
Account Titles & Explanations |
P.R. |
Debit |
Credit |
|
Dec. 31 |
Sales |
$245000 |
||
|
Income Summary |
$245000 |
|||
|
Dec. 31 |
Income Summary |
$220400 |
||
|
Sales Discount |
$6000 |
|||
|
Sales Returns & allowances |
$16500 |
|||
|
Cost of goods sold |
$145000 |
|||
|
Sales salaries expense |
$32500 |
|||
|
Depreciation expense-store equipment |
$11000 |
|||
|
Depreciation expense-office equipment |
$7500 |
|||
|
Office supplies expense |
$1300 |
|||
|
Interest Expense |
$600 |
|||
|
Dec. 31 |
Income summary |
$24600 |
||
|
Retained earnings |
$24600 |
|||
|
Dec. 31 |
Retained earnings |
$28000 |
||
|
Drawings |
$28000 |
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Problem 1. Closing Entries (16 points) from the adjusted trial balance for Fabricated necessary closing entries....
33) Using the adjusted trial balance below write the four closing entries necessary to prepare accounts...
33) Using the adjusted trial balance below write the four closing entries necessary to prepare accounts for the beginning of the next accounting period. DODSON CONTAINERS Adjusted Trial Balance December 31 $ 3,050 400 830 80 4,200 $ 1,100 98,000 28,000 115,000 880 1,400 2,200 Cash.... Accounts receivable.......... Prepaid insurance Office supplies ........... Office equipment Accumulated depreciation office equipment ... Buildings.. Accumulated depreciation—buildings.......... Land Wages Payable.............. Property taxes payable... Interest payable............. Unearned rent........... Long-term notes payable........... Common stock ........... •...
33) Using the adjusted trial balance below. write the four closing entries necessary to prepare the...
33) Using the adjusted trial balance below. write the four closing entries necessary to prepare the accounts for the beginning of the next accounting period. DODSON CONTAINERS Adjusted Trial Balance December 31 $ 3,050 400 830 80 4,200 $ 1,100 98,000 28,000 115,000 Cash. Accounts receivable.................. Prepaid insurance ................ Office supplies................... Office equipment... Accumulated depreciation office equipment Buildings... wwwww Accumulated depreciation-buildings..... Land ........ Wages Payable........... Property taxes payable........ Interest payable... Unearned rent......... Long-term notes payable... Common stock Retained earnings ........
5-10, Closing entries. You are given the following adjusted trial balance. Try Again, Inc. Adjusted Trial...
5-10, Closing entries. You are given the following adjusted trial balance. Try Again, Inc. Adjusted Trial Balance May 31, 2028 Cash S 1,360 12.410 $16 742 30.600 $ Accounts Receivable Supplies Prepaid Insurance Trucks Accumulated Depreciation Trucks Accounts Payable Income Taxes Payable Common Stock Retained Earnings Dividends Service Revenue Wages Expense Insurance Expense Utility Expense Depreciation Expense: Trucks Income Taxes Expense 5.440 1.100 1.300 10.000 21.023 2.000 19,400 7,400 915 550 440 1,300 $58,263 $58,263 Complete parts a, b, c,...
Using the information from the Adjusted Trial Balance, journalize the closing entries for the end of...
Using the information from the Adjusted Trial Balance,
journalize the closing entries for the end of the month.
Activity 3.a - Journalize Closing Entries Using the information from the Adjusted Trial Balance, journalize the closing entries for the end of the month. SMART TOUCH LEARNING Date Accounts and Explanation Debit Credit Adjusted Trial Balance December 31, 2016 Balance Debit Credit Account Title Cash 17,900 Accounts Receivable 9,900 Date Accounts and Explanation Debit Credit Office Supplies 200 Prepaid Rent 11,900 Furniture...
1. Journalize and post the closing entries ADIUSTMENTS DEBIT CREDIT ADJUSTED TRIAL BALANCE DEBIT INCOME STATEMENT...
1. Journalize and post the closing entries
ADIUSTMENTS DEBIT CREDIT ADJUSTED TRIAL BALANCE DEBIT INCOME STATEMENT CREDIT MALANCE SHEET Debat TRIAL RALANCE DEBIT CREDIT 43171 3165 2376 3155 2276 405 7000 7000 890 3500 3500 ACCOUNT TITLES Cash Accounts Receivable Merchandise Inventory Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable Wages Payable Note Payable Capital Drawing Sales Sales Returns Sales Discounts Cost of Merchandise Sold Salaries Expense Supplies Expense Depreciation Expense Misc. Expense Freight Expense 3750 1501 1800 1000 2100...
1. Journalize and post the closing entries TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE...
1. Journalize and post the closing entries
TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET ACCOUNT TITLES DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Debit CREDIT Debit CREDIT Cash 4317 4317 4317 Accounts Recelvable Merchandise Inventory Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable 3165 3165 3165 2376 2276 100 2276 405 405 405 7000 7000 7000 84 2084 2000 2084 850 2100 850 850 Wages Payable Note Payable Capital Drawing Sales Sales Returns Sales Discounts Cost of Merchandise Sold 2100...
33) Using the adjusted trial balance below. write the four closing entries nec accounts for the...
33) Using the adjusted trial balance below. write the four closing entries nec accounts for the beginning of the next accounting period. tries necessary to prepare the $ 3,050 400 830 80 4,200 $ 1,100 98,000 28,000 115,000 DODSON CONTAINERS Adjusted Trial Balance December 31 Cash... Accounts receivable.. Prepaid insurance ...... Office supplies ............. Office equipment ...... Accumulated depreciation office equipment.. Buildings. Accumulated depreciation-buildings. Land ......... -Wages Payable....... ---Property taxes payable... Interest payable.... Unearned rent. -Long-term notes payable. Common stock...
Problem 4-4A Closing entries LO2, 3, 4 MY Autobody’s adjusted trial balance on December 31, 2020,...
Problem 4-4A Closing entries LO2, 3, 4 MY Autobody’s adjusted trial balance on December 31, 2020, appears in the work sheet as follows: No. Account Debit Credit 101 Cash $ 28,700 124 Shop supplies 2,150 128 Prepaid insurance 4,900 167 Equipment 91,500 168 Accumulated depreciation, equipment $ 8,200 201 Accounts payable 19,700 210 Wages payable 9,560 301 Mike Yang, capital 147,000 302 Mike Yang, withdrawals 39,500 401 Repair revenue 163,930 612 Depreciation expense, equipment 9,200 623 Wages expense 105,200 637...
I need assistance in completing the Balance Sheet and Closing Entries to the following Adjusted Trial...
I need assistance in completing the Balance Sheet and Closing Entries to the following Adjusted Trial Balance: DESCRIPTION DEBIT CREDIT CASH $ 319,620 DEPOSIT ELECTRIC COMPANY $ 500 DEPOSIT WATER SEWER GARBAGE $ 200 DEPOSIT TELEPHONE $ 250 OFFICE SUPPLIES $ 500 PREPAID INSURANCE $ 3,600 PREPAID LEASE $ 11,000 MACHINERY & EQUIPMENT $ 100,000 FURNITURE & FIXTURES $ 20,000 ACCUMULATED DEPRECIATION - FURNITURE & FIXTURES $ 167 ACCUMULATED DEPRECIATION - MACHINERY & EQUIPMENT $ 1,190 ACCOUNTS PAYABLE $ 1,200...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance (LO...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance (LO 4-3, LO 4-5] (The following information applies to the questions displayed below.) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) office Expenses Rent Expense Retained Earnings Salaries...
33) Using the adjusted trial balance below write the four closing entries necessary to prepare accounts for the beginning of the next accounting period. DODSON CONTAINERS Adjusted Trial Balance December 31 $ 3,050 400 830 80 4,200 $ 1,100 98,000 28,000 115,000 880 1,400 2,200 Cash.... Accounts receivable.......... Prepaid insurance Office supplies ........... Office equipment Accumulated depreciation office equipment ... Buildings.. Accumulated depreciation—buildings.......... Land Wages Payable.............. Property taxes payable... Interest payable............. Unearned rent........... Long-term notes payable........... Common stock ........... •...
33) Using the adjusted trial balance below. write the four closing entries necessary to prepare the accounts for the beginning of the next accounting period. DODSON CONTAINERS Adjusted Trial Balance December 31 $ 3,050 400 830 80 4,200 $ 1,100 98,000 28,000 115,000 Cash. Accounts receivable.................. Prepaid insurance ................ Office supplies................... Office equipment... Accumulated depreciation office equipment Buildings... wwwww Accumulated depreciation-buildings..... Land ........ Wages Payable........... Property taxes payable........ Interest payable... Unearned rent......... Long-term notes payable... Common stock Retained earnings ........
5-10, Closing entries. You are given the following adjusted trial balance. Try Again, Inc. Adjusted Trial Balance May 31, 2028 Cash S 1,360 12.410 $16 742 30.600 $ Accounts Receivable Supplies Prepaid Insurance Trucks Accumulated Depreciation Trucks Accounts Payable Income Taxes Payable Common Stock Retained Earnings Dividends Service Revenue Wages Expense Insurance Expense Utility Expense Depreciation Expense: Trucks Income Taxes Expense 5.440 1.100 1.300 10.000 21.023 2.000 19,400 7,400 915 550 440 1,300 $58,263 $58,263 Complete parts a, b, c,...
Using the information from the Adjusted Trial Balance,
journalize the closing entries for the end of the month.
Activity 3.a - Journalize Closing Entries Using the information from the Adjusted Trial Balance, journalize the closing entries for the end of the month. SMART TOUCH LEARNING Date Accounts and Explanation Debit Credit Adjusted Trial Balance December 31, 2016 Balance Debit Credit Account Title Cash 17,900 Accounts Receivable 9,900 Date Accounts and Explanation Debit Credit Office Supplies 200 Prepaid Rent 11,900 Furniture...
1. Journalize and post the closing entries
ADIUSTMENTS DEBIT CREDIT ADJUSTED TRIAL BALANCE DEBIT INCOME STATEMENT CREDIT MALANCE SHEET Debat TRIAL RALANCE DEBIT CREDIT 43171 3165 2376 3155 2276 405 7000 7000 890 3500 3500 ACCOUNT TITLES Cash Accounts Receivable Merchandise Inventory Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable Wages Payable Note Payable Capital Drawing Sales Sales Returns Sales Discounts Cost of Merchandise Sold Salaries Expense Supplies Expense Depreciation Expense Misc. Expense Freight Expense 3750 1501 1800 1000 2100...
1. Journalize and post the closing entries
TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET ACCOUNT TITLES DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Debit CREDIT Debit CREDIT Cash 4317 4317 4317 Accounts Recelvable Merchandise Inventory Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable 3165 3165 3165 2376 2276 100 2276 405 405 405 7000 7000 7000 84 2084 2000 2084 850 2100 850 850 Wages Payable Note Payable Capital Drawing Sales Sales Returns Sales Discounts Cost of Merchandise Sold 2100...
33) Using the adjusted trial balance below. write the four closing entries nec accounts for the beginning of the next accounting period. tries necessary to prepare the $ 3,050 400 830 80 4,200 $ 1,100 98,000 28,000 115,000 DODSON CONTAINERS Adjusted Trial Balance December 31 Cash... Accounts receivable.. Prepaid insurance ...... Office supplies ............. Office equipment ...... Accumulated depreciation office equipment.. Buildings. Accumulated depreciation-buildings. Land ......... -Wages Payable....... ---Property taxes payable... Interest payable.... Unearned rent. -Long-term notes payable. Common stock...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance (LO 4-3, LO 4-5] (The following information applies to the questions displayed below.) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) office Expenses Rent Expense Retained Earnings Salaries...
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