Homework Answers
| Taylor Electronics Company | |||
| Post-Closing Trial Balance | |||
| Accounting Name | Debit($) | Credit($) | |
| Prepaid expenses | 8200 | ||
| Inventory | 39000 | ||
| Accounts receivable | 22800 | ||
| Equipment | 135200 | ||
| Accumlated depreciation | 37700 | ||
| Cash | 8000 | ||
| Accounts payable | 16700 | ||
| Unearned sales revenue | 13800 | ||
| Note Payable, Long-Term | 46000 | ||
| Salaries payable | 2700 | ||
| Note Payable, Short-Term | 1200 | ||
| Taylor,Capital,June 1 | 54100 | ||
| Taylor,Owner Withdrawals | 20000 | ||
| Sales revenue | 350000 | ||
| Supplies Expense | 2500 | ||
| Utilities Expense | 7500 | ||
| Rent expense | 38000 | ||
| Supplies | 6000 | ||
| Cost of goods sold | 170000 | ||
| Salaries expense | 65000 | ||
| Total | 522200 | 522200 | |
| 1. Income statement: | |||
| Accounting Name | |||
| Income | |||
| Sales revenue | 350000 | ||
| Expenses | |||
| Supplies Expense | 2500 | ||
| Utilities Expense | 7500 | ||
| Rent expense | 38000 | ||
| Supplies | 6000 | ||
| Cost of goods sold | 170000 | ||
| Salaries expense | 65000 | ||
| 289000 | 0 | ||
| Profit before tax | 61000 | ||
| 2. Statement of owner's equity: | |||
| Opening Capital | 54100 | ||
| Less: Withdrawals | 20000 | ||
| 34100 | |||
| Add:Profits as on 30 june | 61000 | ||
| 95100 | |||
| 3. Classified balance sheet | |||
| Liabilities | |||
| Equity share capital | 95100 | ||
| Longterm notes payable | 46000 | ||
| Accounts payable | 16700 | ||
| Unearned sales revenue | 13800 | ||
| Salaries payable | 2700 | ||
| Note Payable, Short-Term | 1200 | ||
| Total Liabilities and equity | 175500 | ||
| Assets | |||
| Equipment | 135200 | ||
| Accumlated depreciation | 37700 | ||
| 97500 | |||
| Prepaid expenses | 8200 | ||
| Inventory | 39000 | ||
| Accounts receivable | 22800 | ||
| Cash | 8000 | ||
| Total Assets | 175500 | ||
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ne accounts of Taylor Electronics Company are listed alone with their adjusted balances before closing for...
Part B: Financial Statements The accounts of Ashton Appliances Company are listed along with their adjusted...
Part B: Financial Statements The accounts of Ashton Appliances Company are listed along with their adjusted balances before cdosing for the month ended June 30, 2019. Prepaid Expenses 16,700 Accounts payable 2,400 33,600 Inventory Note payable, longterm Accounts receivable 39.000 37,700 Accumulated depreciation 46,000 54.100 Salary payable Taylor, Capital, June 1 2,700 20.000 Supplies Expense Ulities Expense Taylor, Drawing 2,500 8.000 Cash 7,500 170.000 Sales revense Cost of poods sold 350,000 135,200 Rent Expense Equipment 38,000 60.000 Supplies Salaries Expense...
Part. Closing Journal Entries The accounts of Taylor Electronics Company are listed along with their adjusted...
Part. Closing Journal Entries The accounts of Taylor Electronics Company are listed along with their adjusted balances before closing for the month ended June 30, 2019. Prepare the closing journal entries in the journal below. $ 200 39.000 46,000 2.700 Prepaid Expenses Inventory Note Payable. Long-Term Salary Payable Supplies Expense Utilities Expense Sales Revenue Rent Expense Supplies Unearned Sales Revenue Accounts payable Accounts receivable Accumulated depreciation Taylor, Capital, June 1 Taylor, Owner Withdrawals Cash Cost of Goods Sold Equipment Salaries...
prepare closing entries as of December 31, 2019. Company is presented below. The Giant Company Adjusted...
prepare closing entries as of December 31, 2019.
Company is presented below. The Giant Company Adjusted Trial Balance For the Year Ended December 31, 2019 $15,000 30,000 118,000 90,000 $30,000 56,000 38,000 123,000 36,000 378,000 Cash Accounts receivable Inventory Equipment Accumulated Depreciation Accounts payable Loan payable Eli Manning, capital Eli Manning, withdrawals Sales revenue Sales returns and allowances Sales discounts Cost of goods sold Rent expense Salary expense Insurance expense Utilities expense Depreciation expense Travel & Entertainment expense Interest revenue...
Prepare closing entries at June 30, 2019 Prepare a post-closing trial balance. Ayayai Company had the...
Prepare closing entries at June 30, 2019
Prepare a post-closing trial balance.
Ayayai Company had the following adjusted trial balance. Ayayai Company Adjusted Trial Balance For the Month Ended June 30, 2019 Adjusted Trial Balance Account Titles Credit Cash Debit $3,750 3.740 Accounts Receivable Supplies 420 Accounts Payable $1,900 Unearned Service Revenue 140 Common Stock 1,870 Retained Earnings 2,500 Dividends 440 Service Revenue 5,400 Salaries and Wages Expense 1,350 Miscellaneous Expense 210 2,300 Supplies Expense Salaries and Wages Payable 400...
Matthews Company Adjusted Trial Balance December 31, 2017 DEBIT CREDIT Cash Accounts Receivable A...
What is Total Liabilities and Stockholders' Equity as of
December 31, 2017?
Matthews Company Adjusted Trial Balance December 31, 2017 DEBIT CREDIT Cash Accounts Receivable Allowance for Doubtful Accounts Short term Note Receivable Interest Receivable Supplies Inventory Prepaid Expenses Equipment Accumulated Depreciation Copyrights Accounts Payable Interest Payable Unearned Revenue Long Term Note Payable Common Stock Paid-in-Capital In Excess of Par CS Retained Earnings (1/1/17) Dividends Sales Sales Returns& Allowances Sales Discounts Cost of Goods Sold Bad debt expense Depreciaion Expense...
Listed below are account balances for Accounts Company for the fiscal year ended December 31, 2019....
Listed below are account balances for Accounts Company for the fiscal year ended December 31, 2019. Long-term investments Notes payable, long-term Prepaid insurance Wages payable Common Stock Equipment Land Interest payable Interest expense Income tax payable Cost of goods sold Cash Accounts payable Buildings Accumulated depreciation Dividends General and administrative expenses Accounts receivable Inventory Notes payable, current portion Selling expenses Trademarks Sales revenue Income tax expense Supplies Retained earnings, Jan. 1, 2019 $26,250 208,500 5,250 13,500 225,000 183,750 26,250 10,500...
At December 31, 2019, the partial adjusted accounts for Ozark Ltd. included the following: Accounts payable...
At December 31, 2019, the partial adjusted accounts for Ozark Ltd. included the following: Accounts payable Accounts receivable Accumulated depr - Building Accumulated depr - Furniture AFDA Bank loan payable Building Cash Common shares Cost of goods sold (COGS) Dividends $40,000 $95,000 $35,000 $20,000 $9,000 $220,000 $150,000 $45,000 $38,000 $180,000 $10,000 Furniture Income tax expense Income taxes payable Insurance expense Inventory Land Prepaid expenses Retained earnings Salaries payable Unearned revenue Utilities $160,000 $4,000 $17,000 $6,000 $25,000 $370,000 $2,500 $? $3,000...
Exercise 4-7 Swifty Company had the following adjusted trial balance. Swifty Company Adjusted Trial Balance For...
Exercise 4-7 Swifty Company had the following adjusted trial balance. Swifty Company Adjusted Trial Balance For the Month Ended June 30, 2019 Adjusted Trial Balance Account Titles Debit Credit Cash $3,790 Accounts Receivable 3,760 Supplies 460 Accounts Payable $1,700 Unearned Service 180 Revenue Common Stock 1,990 Retained Earnings 2,500 Dividends Service Revenue 5,300 Salaries and Wages 1,300 Expense Miscellaneous Expense 360 Supplies Expense 1,900 Salaries and Wages 700 Payable 800 $12,370 $12,370 Prepare closing entries at June 30, 2019. (Credit...
Data Table credit Rachael Rey's Music Company Adjusted Trial Balance June 30, 2018 Balance Account Title...
Data Table credit Rachael Rey's Music Company Adjusted Trial Balance June 30, 2018 Balance Account Title Debit Cash 4,000 Accounts Receivable 38,400 Merchandise Inventory 18,100 Office Supplies 300 Furniture 39,900 Accumulated Depreciation Furniture Accounts Payable Salaries Payable 8,200 13,800 850 7 con Print Done 1 of 2 (2 complete) i Data Table 13,800 850 Accounts Payable Salaries Payable Uneamed Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Cost of Goods Sold Selling Expense Administrative Expense 7,500 17,000...
list of accounts Sandhill Company had the following adjusted trial balance. $3,840 Sandhill Company Adjusted Trial...
list of accounts
Sandhill Company had the following adjusted trial balance. $3,840 Sandhill Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash Accounts Receivable 4,070 Supplies 400 Accounts Payable $1,700 Unearned Service Revenue 190 Owner's Capital 3,900 Owner's Drawings Service Revenue 5,920 Salaries and Wages Expense 1,300 Miscellaneous Expense 200 Supplies Expense 1,930 Salaries and Wages Payable 540 $12,250 $12,250 510 Prepare closing entries at June 30, 2020. (Credit account...
Part B: Financial Statements The accounts of Ashton Appliances Company are listed along with their adjusted balances before cdosing for the month ended June 30, 2019. Prepaid Expenses 16,700 Accounts payable 2,400 33,600 Inventory Note payable, longterm Accounts receivable 39.000 37,700 Accumulated depreciation 46,000 54.100 Salary payable Taylor, Capital, June 1 2,700 20.000 Supplies Expense Ulities Expense Taylor, Drawing 2,500 8.000 Cash 7,500 170.000 Sales revense Cost of poods sold 350,000 135,200 Rent Expense Equipment 38,000 60.000 Supplies Salaries Expense...
Part. Closing Journal Entries The accounts of Taylor Electronics Company are listed along with their adjusted balances before closing for the month ended June 30, 2019. Prepare the closing journal entries in the journal below. $ 200 39.000 46,000 2.700 Prepaid Expenses Inventory Note Payable. Long-Term Salary Payable Supplies Expense Utilities Expense Sales Revenue Rent Expense Supplies Unearned Sales Revenue Accounts payable Accounts receivable Accumulated depreciation Taylor, Capital, June 1 Taylor, Owner Withdrawals Cash Cost of Goods Sold Equipment Salaries...
prepare closing entries as of December 31, 2019.
Company is presented below. The Giant Company Adjusted Trial Balance For the Year Ended December 31, 2019 $15,000 30,000 118,000 90,000 $30,000 56,000 38,000 123,000 36,000 378,000 Cash Accounts receivable Inventory Equipment Accumulated Depreciation Accounts payable Loan payable Eli Manning, capital Eli Manning, withdrawals Sales revenue Sales returns and allowances Sales discounts Cost of goods sold Rent expense Salary expense Insurance expense Utilities expense Depreciation expense Travel & Entertainment expense Interest revenue...
Prepare closing entries at June 30, 2019
Prepare a post-closing trial balance.
Ayayai Company had the following adjusted trial balance. Ayayai Company Adjusted Trial Balance For the Month Ended June 30, 2019 Adjusted Trial Balance Account Titles Credit Cash Debit $3,750 3.740 Accounts Receivable Supplies 420 Accounts Payable $1,900 Unearned Service Revenue 140 Common Stock 1,870 Retained Earnings 2,500 Dividends 440 Service Revenue 5,400 Salaries and Wages Expense 1,350 Miscellaneous Expense 210 2,300 Supplies Expense Salaries and Wages Payable 400...
What is Total Liabilities and Stockholders' Equity as of
December 31, 2017?
Matthews Company Adjusted Trial Balance December 31, 2017 DEBIT CREDIT Cash Accounts Receivable Allowance for Doubtful Accounts Short term Note Receivable Interest Receivable Supplies Inventory Prepaid Expenses Equipment Accumulated Depreciation Copyrights Accounts Payable Interest Payable Unearned Revenue Long Term Note Payable Common Stock Paid-in-Capital In Excess of Par CS Retained Earnings (1/1/17) Dividends Sales Sales Returns& Allowances Sales Discounts Cost of Goods Sold Bad debt expense Depreciaion Expense...
At December 31, 2019, the partial adjusted accounts for Ozark Ltd. included the following: Accounts payable Accounts receivable Accumulated depr - Building Accumulated depr - Furniture AFDA Bank loan payable Building Cash Common shares Cost of goods sold (COGS) Dividends $40,000 $95,000 $35,000 $20,000 $9,000 $220,000 $150,000 $45,000 $38,000 $180,000 $10,000 Furniture Income tax expense Income taxes payable Insurance expense Inventory Land Prepaid expenses Retained earnings Salaries payable Unearned revenue Utilities $160,000 $4,000 $17,000 $6,000 $25,000 $370,000 $2,500 $? $3,000...
Exercise 4-7 Swifty Company had the following adjusted trial balance. Swifty Company Adjusted Trial Balance For the Month Ended June 30, 2019 Adjusted Trial Balance Account Titles Debit Credit Cash $3,790 Accounts Receivable 3,760 Supplies 460 Accounts Payable $1,700 Unearned Service 180 Revenue Common Stock 1,990 Retained Earnings 2,500 Dividends Service Revenue 5,300 Salaries and Wages 1,300 Expense Miscellaneous Expense 360 Supplies Expense 1,900 Salaries and Wages 700 Payable 800 $12,370 $12,370 Prepare closing entries at June 30, 2019. (Credit...
Data Table credit Rachael Rey's Music Company Adjusted Trial Balance June 30, 2018 Balance Account Title Debit Cash 4,000 Accounts Receivable 38,400 Merchandise Inventory 18,100 Office Supplies 300 Furniture 39,900 Accumulated Depreciation Furniture Accounts Payable Salaries Payable 8,200 13,800 850 7 con Print Done 1 of 2 (2 complete) i Data Table 13,800 850 Accounts Payable Salaries Payable Uneamed Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Cost of Goods Sold Selling Expense Administrative Expense 7,500 17,000...
list of accounts
Sandhill Company had the following adjusted trial balance. $3,840 Sandhill Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash Accounts Receivable 4,070 Supplies 400 Accounts Payable $1,700 Unearned Service Revenue 190 Owner's Capital 3,900 Owner's Drawings Service Revenue 5,920 Salaries and Wages Expense 1,300 Miscellaneous Expense 200 Supplies Expense 1,930 Salaries and Wages Payable 540 $12,250 $12,250 510 Prepare closing entries at June 30, 2020. (Credit account...
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