Homework Answers
No matter how much ever supplies are purchased and how much are the opening supplies, only the supplies which are utilised will be considered as the expenses and would be reported in the income statement.
Therefore the answer in $21,900.
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QUESTION 7 The Myra Corporation's March 31 unadjusted trial balance included many accounts, including the following....
On March 31, 2021, Sunland Rental Agency Inc's trial balance included the following selected unadjusted account...
On March 31, 2021, Sunland Rental Agency Inc's trial balance included the following selected unadjusted account balances. The company's year end is December 31 and it adjusts its accounts quarterly. Credit Debit $15,800 3,100 22.400 Prepaid insurance Supplies Equipment Accumulated depreciation-equipment Deferred revenue Loan payable, due 2023 Rent income Salaries expense $5,700 9,090 19,800 27,700 14,500 An analysis of the accounts shows the following: 1. The equipment, which was purchased on January 1, 2020, is estimated to have a useful...
Unadjusted Trial Balance Instructions The accounts in the ledger of Atlantic Furniture Company as of July...
Unadjusted Trial Balance Instructions The accounts in the ledger of Atlantic Furniture Company as of July 2018, are listed in alphabetical order as follows. All accounts have normal balances. The bala of the cash account has been intentionally omitted. Accounts Payable Accounts Receivable Notes Payable 5 92.400 483,600 Prepaid Insurance Cash Common Stock Rent Expense Retained Earnings Dividends Supplies $ 25,000 21,600 140,000 311,600 3,975 11,200 6,000 49.100 2.250.000 75.000 24,000 2,750,000 9,000 50,000 10 200 Fees Eamed Insurance Expense...
The following unadjusted trial balance is for Wright's Wrecking Ball Company as of December 31", 2019....
The following unadjusted trial balance is for Wright's Wrecking Ball Company as of December 31", 2019. The December 31" 2018 balance in the owner's capital account was $50,000, and the owner invested $40,000 cash in the company during 2019. Debit Credit $ 10,000 15.000 14.000 150,000 $ 10,000 4,650 Cash Supplies Prepaid insurance Equipment Accum. Dep. - Equipment Accounts payable Interest payable Rent payable Wages payable Property taxes payable Utilities payable Long-term notes payable Owner's Capital Withdrawals Fees earned Depreciation...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1,...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 The following information applies to the questions displayed below] A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Adjusted Trial Balance $ 90,400 19,000 Unadjusted Trial Balance $ 90,400 12,000 17,800 6,640 90,000...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1,...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 The following information applies to the questions displayed below.) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Unad justed Trial Balance $ 90,400 12,000 17,800 6.640 90,000 $ 24,000 10,100 0 Cash...
Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts....
Post the balance from the unadjusted trial balance and the
adjusting entries in to the T-accounts.
[The following information applies to the questions
displayed below.]
Wells Technical Institute (WTI), a school owned by Tristana Wells,
provides training to individuals who pay tuition directly to the
school. WTI also offers training to groups in off-site locations.
Its unadjusted trial balance as of December 31, 2018, follows. WTI
initially records prepaid expenses and unearned revenues in balance
sheet accounts. Descriptions of items...
1. Which of these accounts is included in the post-closing trial balance? a. Accounts Payable b. Supplies Expense c. Sal...
1. Which of these accounts is included in the post-closing trial balance? a. Accounts Payable b. Supplies Expense c. Sales Revenue d. Insurance Expense 2. On which of the following would the year-end Retained Earnings balance be stated correctly? a. Post-Closing Trial Balance b. Unadjusted Trial Balance c. Adjusted Trial Balance d. The Worksheet 3. Which of these accounts is never closed? a. Prepaid Rent b. Income Summary c. Rent Revenue d. Rent Expense 4. Which of these accounts is...
alculator Print Item Instructions Tech Support Services has the following unadjusted trial balance as of January...
alculator Print Item Instructions Tech Support Services has the following unadjusted trial balance as of January 31, 2016: Tech Support Services UNADJUSTED TRIAL BALANCE January 31, 2016 ACCOUNT TITLE DEBIT CREDIT Cash 25,550.00 2 Accounts Receivable 44,050.00 3 Supplies 6,660.00 4 Prepaid Insurance 3,600.00 5 Equipment 162,000.00 6 Notes Payable 75,000.00 7 Accounts Payable 13,200.00 101,850.00 8 Thad Engelberg, Capital 9 Thad Engelberg, Drawing 10 Fees Eamed 33,000.00 534,000.00 306,000.00 11 Wages Expense 12 Rent Expense 15 Advertising Expense 14...
Trial Balance The accounts in the ledger of Hickory Furniture Company as of December 31, 20Y6,...
Trial Balance The accounts in the ledger of Hickory Furniture Company as of December 31, 20Y6, are listed in alphabetical order below. All accounts have normal balances. The balance of the cash account has been intentionally omitted. Accounts Payable $37,100 Accounts Receivable 74,200 Cash ? Elaine Wells, Capital 173,100 Elaine Wells, Drawing 40,000 Fees Earned 618,300 Insurance Expense 11,750 Land 169,400 Miscellaneous Expense 17,300 Notes Payable 80,000 Prepaid Insurance 5,550 Rent Expense 117,500 Supplies 3,700 Supplies Expense 15,450 Unearned Rent...
Trial Balance The accounts in the ledger of Hickory Furniture Company as of December 31, 2019,...
Trial Balance The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted. Accounts Payable $25,100 Accounts Receivable 50,150 Cash ? Elaine Wells, Capital 117,050 Elaine Wells, Drawing 27,000 Fees Earned 418,000 Insurance Expense 7,950 Land 114,550 Miscellaneous Expense 11,700 Notes Payable 54,000 Prepaid Insurance 3,750 Rent Expense 79,400 Supplies 2,500 Supplies Expense 10,450 Unearned...
On March 31, 2021, Sunland Rental Agency Inc's trial balance included the following selected unadjusted account balances. The company's year end is December 31 and it adjusts its accounts quarterly. Credit Debit $15,800 3,100 22.400 Prepaid insurance Supplies Equipment Accumulated depreciation-equipment Deferred revenue Loan payable, due 2023 Rent income Salaries expense $5,700 9,090 19,800 27,700 14,500 An analysis of the accounts shows the following: 1. The equipment, which was purchased on January 1, 2020, is estimated to have a useful...
Unadjusted Trial Balance Instructions The accounts in the ledger of Atlantic Furniture Company as of July 2018, are listed in alphabetical order as follows. All accounts have normal balances. The bala of the cash account has been intentionally omitted. Accounts Payable Accounts Receivable Notes Payable 5 92.400 483,600 Prepaid Insurance Cash Common Stock Rent Expense Retained Earnings Dividends Supplies $ 25,000 21,600 140,000 311,600 3,975 11,200 6,000 49.100 2.250.000 75.000 24,000 2,750,000 9,000 50,000 10 200 Fees Eamed Insurance Expense...
The following unadjusted trial balance is for Wright's Wrecking Ball Company as of December 31", 2019. The December 31" 2018 balance in the owner's capital account was $50,000, and the owner invested $40,000 cash in the company during 2019. Debit Credit $ 10,000 15.000 14.000 150,000 $ 10,000 4,650 Cash Supplies Prepaid insurance Equipment Accum. Dep. - Equipment Accounts payable Interest payable Rent payable Wages payable Property taxes payable Utilities payable Long-term notes payable Owner's Capital Withdrawals Fees earned Depreciation...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 The following information applies to the questions displayed below] A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Adjusted Trial Balance $ 90,400 19,000 Unadjusted Trial Balance $ 90,400 12,000 17,800 6,640 90,000...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 The following information applies to the questions displayed below.) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Unad justed Trial Balance $ 90,400 12,000 17,800 6.640 90,000 $ 24,000 10,100 0 Cash...
Post the balance from the unadjusted trial balance and the
adjusting entries in to the T-accounts.
[The following information applies to the questions
displayed below.]
Wells Technical Institute (WTI), a school owned by Tristana Wells,
provides training to individuals who pay tuition directly to the
school. WTI also offers training to groups in off-site locations.
Its unadjusted trial balance as of December 31, 2018, follows. WTI
initially records prepaid expenses and unearned revenues in balance
sheet accounts. Descriptions of items...
alculator Print Item Instructions Tech Support Services has the following unadjusted trial balance as of January 31, 2016: Tech Support Services UNADJUSTED TRIAL BALANCE January 31, 2016 ACCOUNT TITLE DEBIT CREDIT Cash 25,550.00 2 Accounts Receivable 44,050.00 3 Supplies 6,660.00 4 Prepaid Insurance 3,600.00 5 Equipment 162,000.00 6 Notes Payable 75,000.00 7 Accounts Payable 13,200.00 101,850.00 8 Thad Engelberg, Capital 9 Thad Engelberg, Drawing 10 Fees Eamed 33,000.00 534,000.00 306,000.00 11 Wages Expense 12 Rent Expense 15 Advertising Expense 14...
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