Homework Answers
Adjusting entry
| No | General Journal | Debit | Credit |
| 1 | Supplies expense (400-100) | 300 | |
| Office supplies | 300 | ||
| (To record supplies expense) | |||
| 2 | Insurance expense (2000-450) | 1550 | |
| Prepaid insurance | 1550 | ||
| (To record insurance expense) |
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Adjusting Journal Entores The unadjusted balance of Darcy Consulting services at Decem 31, 2019 follows. Debit...
ted at the rate of $200 ber. that the unearned lesvice hould be in the ©...
ted at the rate of $200 ber. that the unearned lesvice hould be in the © The equipment is deprecated at the month (d) The accourtant has de comined that in. evenue balance at December 31, 2017 amount of $350. e Interest of $ 200 on the hele payable hou to the end of the has occured year. e accrued of December 31, 2019, amounted to $650. The accountant has determined that the Preball. balance at December 31, 2019, should...
C. ADIN C. ADJUSTING JOURNAL ENTRIES (14 Marks) he unadjusted trial balance of Darcy Consulting Services...
C. ADIN C. ADJUSTING JOURNAL ENTRIES (14 Marks) he unadjusted trial balance of Darcy Consulting Services at December 31, Credit Debit $4,HOO 10,400 2.000 1,000 400 16,500 $2,400 Cash Accounts receivable Prepaid insurance Prepaid rent Office supplies Equipment Accumulated depreciation Salaries payable Interest payable Unearned service revenue Note payable Ted Darcy, capital Ted Darcy, drawings Service revenue Salaries expense Depreciation expense Rent expense Insurance expense Office supplies expense Interest expense 600 8,000 15,200 3,000 32,700 20,500 300 $58.900 $58.900 Given...
The adjusted trial balance of Wong Consulting Services is as follows: WONG CONSULTING SERVICES Adjusted Trial...
The adjusted trial balance of Wong Consulting Services is as
follows:
WONG CONSULTING SERVICES
Adjusted Trial Balance
December 31, 2021
Debit
Credit
Cash
$2,500
Accounts receivable
1,000
Prepaid insurance
840
Supplies
140
Furniture
15,000
Accumulated depreciation – furniture
$1,200
Accounts payable
740
Salaries payable
610
Interest payable
34
Unearned revenue
200
Notes payable, due 2026
2,600
V. Wong, capital
5,500
V. Wong, drawings
8,300
Service revenue
30,436
Rent revenue
560
Depreciation expense
500
Insurance expense
740
Interest expense
120
Rent...
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit...
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit $ 8,400 13,400 5,280 2,400 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 1,400 11,000 4,400 39,680 27,000 $56,480 $56,480 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,280, represents payment on October 31, Year 1, for rent from November 1, Year 1, to April 30, Year 2....
The unadjusted trial balance as of December 31, 2018, for the Bagley Consulting Company appears below....
The unadjusted trial balance as of December 31, 2018, for the Bagley Consulting Company appears below. December 31 is the company's fiscal year-end Account Title Debits Credits 7,900 9,250 3,700 240,000 72,500 Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings Office equipment Accumulated depreciation-office equipment Accounts payable Salaries and wages payable Deferred rent revenue Common stock Retained earnings Sales revenue Interest revenue Rent revenue Salaries and wages expense Depreciation expense Insurance expense Utility expense Maintenance expense Totals 29,000 108,000...
Build the unadjusted trial balance and adjustments columns from the given information and total the columns....
Build the unadjusted trial balance and adjustments columns from the given information and total the columns. Only input amounts for accounts with balances and do not enter zeros for blank cells. Accounts Payable 5.900 Accounts Receivable 19.600 SMART TOUCH LEARNING Worksheet December 31, 2016 Cash 27,900 Unadjusted Trial Balance Adjustments Common Stock 38,600 Account Names Debit Credit Debit Credit Dividends 5.400 Cash 27900 Furniture 4.400 Accounts Receivable 19600 Notes Payable 6.700 Office Supplies R800 Office Supplies 8.800 Prepaid Rent 12700...
MARTINEZ PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2017 Debit $29,500 56,400 Credit Cash Accounts Receivable...
MARTINEZ PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2017 Debit $29,500 56,400 Credit Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Owner's Capital Service Revenue Rent Expense (13 months of rent) Salaries and Wages Expense Utilities Expenses Office Expense Totals $718 1,730 1,050 33,800 8,450 7,200 35,342 112,964 9,334 30,360 1,750 750 $164,674 $164,674 1. Fees received in advance from clients $6,010, which were recorded as revenue 2. Services performed for clients that...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below Debit Credit...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below Debit Credit Accounts Cash $9,600 4,600 6,720 3,500 Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earmings Service Revenue Salarles Expense $2,600 10,000 5.600 49,320 33,000 $67,520 $67,520 At year-end, the following additional information is available: a. The balance of Prepaid Rent, $6,720, represents payment on October 31, 2018, for rent from November 1, 2018, to April 30, 2019. b. The balance of Deferred Revenue, $2,600,...
The following are the trial balance and the other information related to Martinez Perez, a consulting...
The following are the trial balance and the other information related to Martinez Perez, a consulting engineer. MARTINEZ PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2017 Debit Credit $29,500 56,400 $718 1,730 1,050 33,800 Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Owner's Capital Service Revenue Rent Expense (13 months of rent) Salaries and Wages Expense Utilities Expenses Office Expense 8,450 7,200 35,342 112,964 9,334 30,360 1,750 750 Totals $164,674 $164,674 1....
The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below....
The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company’s reporting year-end. Account Title Debits Credits Cash 2,250 Accounts receivable 8,250 Prepaid insurance 3,400 Land 225,000 Buildings 65,000 Accumulated depreciation—buildings 26,000 Office equipment 99,000 Accumulated depreciation—office equipment 39,600 Accounts payable 29,550 Salaries payable 0 Deferred rent revenue 0 Common stock 240,000 Retained earnings 47,850 Service revenue 85,000 Interest revenue 4,600 Rent revenue 5,700 Salaries expense 34,000 Depreciation expense 0...
ted at the rate of $200 ber. that the unearned lesvice hould be in the © The equipment is deprecated at the month (d) The accourtant has de comined that in. evenue balance at December 31, 2017 amount of $350. e Interest of $ 200 on the hele payable hou to the end of the has occured year. e accrued of December 31, 2019, amounted to $650. The accountant has determined that the Preball. balance at December 31, 2019, should...
C. ADIN C. ADJUSTING JOURNAL ENTRIES (14 Marks) he unadjusted trial balance of Darcy Consulting Services at December 31, Credit Debit $4,HOO 10,400 2.000 1,000 400 16,500 $2,400 Cash Accounts receivable Prepaid insurance Prepaid rent Office supplies Equipment Accumulated depreciation Salaries payable Interest payable Unearned service revenue Note payable Ted Darcy, capital Ted Darcy, drawings Service revenue Salaries expense Depreciation expense Rent expense Insurance expense Office supplies expense Interest expense 600 8,000 15,200 3,000 32,700 20,500 300 $58.900 $58.900 Given...
The adjusted trial balance of Wong Consulting Services is as
follows:
WONG CONSULTING SERVICES
Adjusted Trial Balance
December 31, 2021
Debit
Credit
Cash
$2,500
Accounts receivable
1,000
Prepaid insurance
840
Supplies
140
Furniture
15,000
Accumulated depreciation – furniture
$1,200
Accounts payable
740
Salaries payable
610
Interest payable
34
Unearned revenue
200
Notes payable, due 2026
2,600
V. Wong, capital
5,500
V. Wong, drawings
8,300
Service revenue
30,436
Rent revenue
560
Depreciation expense
500
Insurance expense
740
Interest expense
120
Rent...
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit $ 8,400 13,400 5,280 2,400 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 1,400 11,000 4,400 39,680 27,000 $56,480 $56,480 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,280, represents payment on October 31, Year 1, for rent from November 1, Year 1, to April 30, Year 2....
The unadjusted trial balance as of December 31, 2018, for the Bagley Consulting Company appears below. December 31 is the company's fiscal year-end Account Title Debits Credits 7,900 9,250 3,700 240,000 72,500 Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings Office equipment Accumulated depreciation-office equipment Accounts payable Salaries and wages payable Deferred rent revenue Common stock Retained earnings Sales revenue Interest revenue Rent revenue Salaries and wages expense Depreciation expense Insurance expense Utility expense Maintenance expense Totals 29,000 108,000...
Build the unadjusted trial balance and adjustments columns from the given information and total the columns. Only input amounts for accounts with balances and do not enter zeros for blank cells. Accounts Payable 5.900 Accounts Receivable 19.600 SMART TOUCH LEARNING Worksheet December 31, 2016 Cash 27,900 Unadjusted Trial Balance Adjustments Common Stock 38,600 Account Names Debit Credit Debit Credit Dividends 5.400 Cash 27900 Furniture 4.400 Accounts Receivable 19600 Notes Payable 6.700 Office Supplies R800 Office Supplies 8.800 Prepaid Rent 12700...
MARTINEZ PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2017 Debit $29,500 56,400 Credit Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Owner's Capital Service Revenue Rent Expense (13 months of rent) Salaries and Wages Expense Utilities Expenses Office Expense Totals $718 1,730 1,050 33,800 8,450 7,200 35,342 112,964 9,334 30,360 1,750 750 $164,674 $164,674 1. Fees received in advance from clients $6,010, which were recorded as revenue 2. Services performed for clients that...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below Debit Credit Accounts Cash $9,600 4,600 6,720 3,500 Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earmings Service Revenue Salarles Expense $2,600 10,000 5.600 49,320 33,000 $67,520 $67,520 At year-end, the following additional information is available: a. The balance of Prepaid Rent, $6,720, represents payment on October 31, 2018, for rent from November 1, 2018, to April 30, 2019. b. The balance of Deferred Revenue, $2,600,...
The following are the trial balance and the other information related to Martinez Perez, a consulting engineer. MARTINEZ PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2017 Debit Credit $29,500 56,400 $718 1,730 1,050 33,800 Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Owner's Capital Service Revenue Rent Expense (13 months of rent) Salaries and Wages Expense Utilities Expenses Office Expense 8,450 7,200 35,342 112,964 9,334 30,360 1,750 750 Totals $164,674 $164,674 1....
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