Homework Answers
1.
| DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT | |
| 1 | 20-- June 30 | Referral fees | 401 | 2813 | |
| 2 | Income summary | 313 | 2813 | ||
| 3 | |||||
| 4 | June 30 | Income summary | 313 | 2987 | |
| 5 | Wages expense | 511 | 1080 | ||
| 6 | Advertising expense | 512 | 34 | ||
| 7 | Rent expense | 521 | 900 | ||
| 8 | Supplies expense | 523 | 322 | ||
| 9 | Phone expense | 525 | 133 | ||
| 10 | Utilities expense | 533 | 102 | ||
| 11 | Insurance expense | 535 | 120 | ||
| 12 | Gas and oil expense | 538 | 88 | ||
| 13 | Depr. Exp.-Office equip. | 541 | 110 | ||
| 14 | Miscellaneous expense | 549 | 98 | ||
| 15 | |||||
| 16 | June 30 | Raquel Zapata, Capital | 311 | 174 | |
| 17 | Income summary ($2987 - $2813) | 313 | 174 | ||
| 18 | |||||
| 19 | June 30 | Raquel Zapata, Capital | 311 | 2000 | |
| 20 | Raquel Zapata, Drawing | 312 | 2000 | ||
| 21 |
2.
| Raquel Zapata, Capital | 311 | ||
| Closing | 174 | Bal. | 6000 |
| Closing | 2000 | ||
| Bal. | 3826 | ||
| Raquel Zapata, Drawing | 312 | ||
| Bal. | 2000 | Closing | 2000 |
| Income Summary | 313 | ||
| Closing | 2987 | Closing | 2813 |
| Closing | 174 | ||
| Referral Fees | 401 | ||
| Closing | 2813 | Bal. | 2813 |
| Wages Expense | 511 | ||
| Bal. | 1080 | Closing | 1080 |
| Advertising Expense | 512 | ||
| Bal. | 34 | Closing | 34 |
| Rent Expense | 521 | ||
| Bal. | 900 | Closing | 900 |
| Supplies Expense | 523 | ||
| Bal. | 322 | Closing | 322 |
| Phone Expense | 525 | ||
| Bal. | 133 | Closing | 133 |
| Utilities Expense | 533 | ||
| Bal. | 102 | Closing | 102 |
| Insurance Expense | 535 | ||
| Bal. | 120 | Closing | 120 |
| Gas and Oil Expense | 538 | ||
| Bal. | 88 | Closing | 88 |
| Depr. Exp.-Office Equip. | 541 | ||
| Bal. | 110 | Closing | 110 |
| Miscellaenous Expense | 549 | ||
| Bal. | 98 | Closing | 98 |
Add Answer to:
Instructions Closing Entries Post Closing Entries Instructions 1. Prepare closing entries dated June 30, 20. Do...
part a: Prepare the closing entries at December 31. (Credit account tittles are automatically indented when...
part a: Prepare the closing
entries at December 31. (Credit account tittles are
automatically indented when the amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31
(To close revenue account.)
31
(To close expense accounts.)
31
(To close net income.)
31
(To close dividends.)
9,800 Exercise 4-13 (Part Level Submission) Selected accounts from Betts Ltd.'s...
Post the closing entries to the T-accounts. Use "Clos." and the corresponding number as shown in the journal entry as posting references long dash
Post the closing entries to the T-accounts. Use "Clos." and
the corresponding number as shown in the journal entry as
posting references long dash—"Clos.(1)", "Clos.(2)", etc. The adjusted balance of each account has been
entered for you. Post any closing entries to the accounts and then
calculate the post-closing balance ("Bal.") of each account
(including those that were not closed). For any accounts with a
zero balance after closing, enter a "0" on the normal side of the
account. For...
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...
Instructions The unadjusted trial balance of Epicenter Laundry at June 30, 2019, the end of the...
Instructions The unadjusted trial balance of Epicenter Laundry at June 30, 2019, the end of the fiscal year, follows: Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE CREDIT DEBIT 11,000.00 Cash 2 Laundry Supplies 21,500.00 Prepaid Insurance 9.600.00 Laundry Equipment 232,600.00 Accumulated Depreciation 125,400.00 11,800.00 Accounts Payable Sophie Perez Capital Sophie Perez Drawing 105,600.00 10,000.00 Laundry Revenue 232,200.00 125,200.00 Wages Expense 11. Rent Expense 40,000.00 12 Utilities Expense 19,700.00 13 Miscellaneous Expense 5,400.00 14 Totals 475,000.00 475,000.00 The...
(c) Prepare the closing entries. Use J14 for the journal page. d) Post the closing entries....
(c) Prepare the closing entries. Use J14 for the journal page. d) Post the closing entries. Use the three-column form of account. Income Summary is D. Thao, are as follows. Cr. Account No. 101 112 126 130 157 158 200 201 212 230 301 306 400 610 631 711 722 726 905 THAO COMPANY Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account Titles Dr. Cash 5,300 Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment 27,000...
Instructions A partial work sheet for the month ended june 30, 20-for Adams' Shoe Shine is...
Instructions A partial work sheet for the month ended june 30, 20-for Adams' Shoe Shine is shown Adams' Shoe Shine Work Sheet(Partian For Month Ended June 30, 20 INCOME STATEMENT DEBIT INCOME STATEMENT BALANCE SHEET BALANCE SHEET 2 ACCOUNT TITLE CREDIT DERIT CREDIT Cash 3.262.00 + Accounts Receivable 1.2400 HOOD 640.00 Supplies • Prepaid Insurance 7 Office Equipment 8 Accumulated Depreciation Office Equipment • Accounts Payable 2,100.00 110.00 1,850.00 280.00 6,000.00 10 Wages Payable 11 Mary Adams, Capital Mary Adams,...
1. Enter beginning balances in the T-accounts from the Beginning Balance Sheet, all accounts have normal...
1. Enter beginning balances in the T-accounts from the Beginning Balance Sheet, all accounts have normal balances. Common Stock has 200,000 shares issued and outstanding. 2. Additional information: Company uses a perpetual inventory system (discounts and freight are recorded in the inventory account). Suppliers offer a 2% discount; company does not offer discounts to customers. No adjustment for inventory is needed. 3. Record the following summarized August transactions using the general journal provided. Use a blank line between transactions. Use...
i just need the wrong answers corrected eBook Calculstor Payroll and Payroll Taxes Chart of Accounts...
i
just need the wrong answers corrected
eBook Calculstor Payroll and Payroll Taxes Chart of Accounts Analysis General Jourmal Instructions Bailey Dry Cleaners has six employees who were paid the following wages during 2019: Frank Johnson Frank Johnson $27,000 Bill Long 18,000 Duff Morse 130,000 Laura Stewart 28,000 Cindy Sharpe 26,000 Melissa Ledbetter 20,000 Total $249,000 The state allows the companya 1% unemployment compensation merit-rating reduction from the normal rate of 5.4 %. The federal unemployment rate is 0.6%. The...
GLS Complete worksheet, prepare financial statements, closing entries, and post-closing trial balance (L01 2.4 The adjusted...
GLS Complete worksheet, prepare financial statements, closing entries, and post-closing trial balance (L01 2.4 The adjusted trial balance columns of the worksheet for Alshwer Company are as follows. Dr. Account No. 101 112 126 130 157 ALSHWER COMPANY Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Cr. Cash 5.300 Accounts Receivable 10.800 Supplies 1,500 Prepaid Insurance 2.000 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 15,000 Accounts Payable 6.100 Salaries and Wages Payable 2,400 Interest...
prepare the closing journal entries what is the updated value of retained earnings amount We were unable to transcr...
prepare the closing journal entries
what is the updated value of retained earnings amount
We were unable to transcribe this imagePrepare the closing journal entries (worth 15 points) Account Titles and Explanation Date Debit Credit What is the updated value of Retained Earnings amount? (worth 3 points) Retained Earnings
part a: Prepare the closing
entries at December 31. (Credit account tittles are
automatically indented when the amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31
(To close revenue account.)
31
(To close expense accounts.)
31
(To close net income.)
31
(To close dividends.)
9,800 Exercise 4-13 (Part Level Submission) Selected accounts from Betts Ltd.'s...
Post the closing entries to the T-accounts. Use "Clos." and
the corresponding number as shown in the journal entry as
posting references long dash—"Clos.(1)", "Clos.(2)", etc. The adjusted balance of each account has been
entered for you. Post any closing entries to the accounts and then
calculate the post-closing balance ("Bal.") of each account
(including those that were not closed). For any accounts with a
zero balance after closing, enter a "0" on the normal side of the
account. For...
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...
Instructions The unadjusted trial balance of Epicenter Laundry at June 30, 2019, the end of the fiscal year, follows: Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE CREDIT DEBIT 11,000.00 Cash 2 Laundry Supplies 21,500.00 Prepaid Insurance 9.600.00 Laundry Equipment 232,600.00 Accumulated Depreciation 125,400.00 11,800.00 Accounts Payable Sophie Perez Capital Sophie Perez Drawing 105,600.00 10,000.00 Laundry Revenue 232,200.00 125,200.00 Wages Expense 11. Rent Expense 40,000.00 12 Utilities Expense 19,700.00 13 Miscellaneous Expense 5,400.00 14 Totals 475,000.00 475,000.00 The...
(c) Prepare the closing entries. Use J14 for the journal page. d) Post the closing entries. Use the three-column form of account. Income Summary is D. Thao, are as follows. Cr. Account No. 101 112 126 130 157 158 200 201 212 230 301 306 400 610 631 711 722 726 905 THAO COMPANY Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account Titles Dr. Cash 5,300 Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment 27,000...
Instructions A partial work sheet for the month ended june 30, 20-for Adams' Shoe Shine is shown Adams' Shoe Shine Work Sheet(Partian For Month Ended June 30, 20 INCOME STATEMENT DEBIT INCOME STATEMENT BALANCE SHEET BALANCE SHEET 2 ACCOUNT TITLE CREDIT DERIT CREDIT Cash 3.262.00 + Accounts Receivable 1.2400 HOOD 640.00 Supplies • Prepaid Insurance 7 Office Equipment 8 Accumulated Depreciation Office Equipment • Accounts Payable 2,100.00 110.00 1,850.00 280.00 6,000.00 10 Wages Payable 11 Mary Adams, Capital Mary Adams,...
1. Enter beginning balances in the T-accounts from the Beginning Balance Sheet, all accounts have normal balances. Common Stock has 200,000 shares issued and outstanding. 2. Additional information: Company uses a perpetual inventory system (discounts and freight are recorded in the inventory account). Suppliers offer a 2% discount; company does not offer discounts to customers. No adjustment for inventory is needed. 3. Record the following summarized August transactions using the general journal provided. Use a blank line between transactions. Use...
i
just need the wrong answers corrected
eBook Calculstor Payroll and Payroll Taxes Chart of Accounts Analysis General Jourmal Instructions Bailey Dry Cleaners has six employees who were paid the following wages during 2019: Frank Johnson Frank Johnson $27,000 Bill Long 18,000 Duff Morse 130,000 Laura Stewart 28,000 Cindy Sharpe 26,000 Melissa Ledbetter 20,000 Total $249,000 The state allows the companya 1% unemployment compensation merit-rating reduction from the normal rate of 5.4 %. The federal unemployment rate is 0.6%. The...
GLS Complete worksheet, prepare financial statements, closing entries, and post-closing trial balance (L01 2.4 The adjusted trial balance columns of the worksheet for Alshwer Company are as follows. Dr. Account No. 101 112 126 130 157 ALSHWER COMPANY Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Cr. Cash 5.300 Accounts Receivable 10.800 Supplies 1,500 Prepaid Insurance 2.000 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 15,000 Accounts Payable 6.100 Salaries and Wages Payable 2,400 Interest...
prepare the closing journal entries
what is the updated value of retained earnings amount
We were unable to transcribe this imagePrepare the closing journal entries (worth 15 points) Account Titles and Explanation Date Debit Credit What is the updated value of Retained Earnings amount? (worth 3 points) Retained Earnings
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