Homework Answers
| DR | CR | |
| Depreciation Expense (17000-13000) | 4000 | |
| Accumulated Depreciation—Equipment | 4000 | |
| (Depreciation expense for current period) | ||
| Advertising Expense | 16300 | |
| Prepaid Advertising | 16300 | |
| (adjustment entries fpr Adv expense | ||
| Unearned Service Revenue | 8000 | |
| Service Revenue | 8000 | |
| (uneared service revenue adjusted) | ||
| Accounts Receivable (3200-2200) | 1000 | |
| Service Revenue | 1000 | |
| (Accounts Receivable adjusted) | ||
| Rent Expense | 4000 | |
| Prepaid Rent | 4000 | |
| (being prepaid rent adjustment) | ||
| Supplies Expense | 2500 | |
| Supplies | 2500 | |
| Salaries and Wages Expense | 7000 | |
| Salaries and Wages Payable | 7000 | |
| (to record accrued salaries) |
2
| Debit | Credit | |
| Service Revenue | 105000 | |
| Income Summary | 105000 | |
| (to close revenue account) | ||
| Income Summary | 73800 | |
| Advertising Expense | 16300 | |
| Depreciation Expense | 4000 | |
| Rent Expense | 4000 | |
| Supplies Expense | 4500 | |
| Salaries and Wages Expense | 45000 | |
| (to close expense account) | ||
| Income Summary | 31200 | |
| Owner’sCapital (72400-52200) | 31200 | |
| (to close income to retained earnings) | ||
| Owner’sCapital | 11000 | |
| Owner’sDrawings | 11000 | |
| (to close dividends to retained earnings |
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The trial balances of Orton Company follow with the accounts arranged in alphabetic order. 0 4,000...
accounting help The trial balances before and after adjustment for Cullumber Company at the end of...
accounting help
The trial balances before and after adjustment for Cullumber Company at the end of its fiscal year are presented below. Cr. Cullumber Company Trial Balance August 31, 2020 Before Adjustment Dr. Cr. Cash $10,000 Accounts Receivable 8,500 Supplies 2,300 Prepaid Insurance 3,700 Equipment 12,000 Accumulated Depreciation-Equipment $3,400 Accounts Payable 5,700 Salaries and Wages Payable 0 Unearned Rent Revenue 1,300 Common Stock 9,500 Retained Earnings 3,600 Service Revenue 33,800 Rent Revenue 10,800 Salaries and Wages Expense 16,800 Supplies Expense...
Closing Entries The adjusted trial balance of the Petal Corporation, prepared as of December 31, contains...
Closing Entries The adjusted trial balance of the Petal Corporation, prepared as of December 31, contains the following accounts: Debit Credit Service fees earned $87,500 Interest income 2,600 Salaries expense $41,800 Advertising expense 6,300 Depreciation expense 8,700 Income tax expense 11,000 Common stock 75,000 Retained earnings 60,000 Cash dividends 15,000 Prepare journal entries to close the accounts directly to Retained Earnings. After these entries are posted, what is the ending balance in the Retained Earnings account? General Journal Date Description...
The trial balances before and after adjustment for Crane Company at the end of its fiscal...
The trial balances before and after adjustment for Crane Company at the end of its fiscal year are presented below. After Adjustment Dr. Cr. $10,000 9,500 700 2,700 12,400 CRANE COMPANY Trial Balance August 31, 2020 Before Adjustment Dr. Cr. Cash $10,000 Accounts Receivable 8,900 Supplies 2,400 Prepaid Insurance 3,900 Equipment 12,400 Accumulated Depreciation-Equipment $3,400 Accounts Payable 5,800 Salaries and Wages Payable 0 Unearned Rent Revenue 1.400 Owner's Capital 13,700 Service Revenue 34,000 Rent Revenue 11,100 Salaries and Wages Expense...
Presented below is an adjusted trial balance for Shawn Company, at December 31, 2018. Cash $...
Presented below is an adjusted
trial balance for Shawn Company, at December 31, 2018. Cash $ 7,700
Accounts payable $10,000 Accounts receivable 20,000 Notes payable
9,000 Prepaid insurance 15,000 Accumulated depreciation—Equipment
14,000 Equipment 35,000 Service revenue 29,000 Depreciation expense
7,000 Common stock 10,000 Dividends 1,500 Retained earnings 14,000
Advertising expense 1,400 Unearned service revenue 16,000 Rent
expense 800 Salaries and wages expense 12,000 Insurance expense
1,600 $102,000 $102,000
Question 5 Presented below is an adjusted trial balance for Shawn Company,...
The trial balances before and after adjustment for Marigold Corp. at the end of its fiscal...
The trial balances before and after adjustment for Marigold Corp. at the end of its fiscal year are presented below. Marigold Corp. Trial Balance August 31, 2020 Before Adjustment Dr. Cr. Cash $10,100 8,700 2,500 3,900 After Adjustment Dr. Cr. $10,100 10,000 600 2,700 14,400 $4,600 5,800 1,300 700 14,400 $3,500 5,800 0 1,500 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Service Revenue Rent Revenue...
Sheridan Company shows the following balances in selected accounts of its adjusted trial balance. Supplies Supplies...
Sheridan Company shows the following balances in selected accounts of its adjusted trial balance. Supplies Supplies Expense Accounts Receivable Dividends Retained Earnings Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense $24,320 4,560 9,120 16.720 53,200 82,080 30,400 6,080 13,680 Date Account Titles and Explanation Debit Credit Dec. 31 (To cose revenue to income summary) Dec. 31 (To close expenses to income summary) Dec. 31 (To cose net income to retained earnings)
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...
The trial balances shown below are before and after adjustment for Pharoah Company at the end...
The trial balances shown below are before and after adjustment for Pharoah Company at the end of its fiscal year. PHAROAH COMPANY Trial Balance August 31, 2017 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $11,050 $11,050 Accounts Receivable 9,120 9,700 Supplies 2,610 1,400 Prepaid Insurance 4,030 2,670 Equipment 16,840 16,840 Accumulated Depreciation—Equipment $3,789 $4,989 Accounts Payable 5,800 5,800 Salaries and Wages Payable 0 1,650 Unearned Rent Revenue 1,850 1,070 Common Stock 18,360 18,360 Retained Earnings 5,160 5,160 Dividends...
Paloma Company shows the following balances in selected accounts of its adjusted trial balance. Paloma Company...
Paloma Company shows the following balances in selected accounts
of its adjusted trial balance.
Paloma Company shows the following balances in selected accounts of its adjusted trial balance. Supplies $32,000 Service Revenue $108,000 40.000 Supplies Expense Accounts Receivable 6,000 Salaries and Wages Expense 12.000 Utilities Expense 8.000 Owner's Drawings 22,000 Rent Expense 18.000 Owner's Capital 70,000 Journalize the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manus Date Account Titles...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Whispering...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Whispering Winds Corp. is provided below. Debit Credit Accounts Receivable Dividends $58,080 21,040 10,560 170,240 72,880 Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue $42,400 91,840 18,320 147,040 4,960 Rent Revenue 2,880 Rent Expense Retained Earnings Supplies Expense 49,440 1,120 Date Account Titles and Explanation Debit Credit Dec. 31 Service Revenue 147,040 Rent Revenue 4,960 Income Summary...
accounting help
The trial balances before and after adjustment for Cullumber Company at the end of its fiscal year are presented below. Cr. Cullumber Company Trial Balance August 31, 2020 Before Adjustment Dr. Cr. Cash $10,000 Accounts Receivable 8,500 Supplies 2,300 Prepaid Insurance 3,700 Equipment 12,000 Accumulated Depreciation-Equipment $3,400 Accounts Payable 5,700 Salaries and Wages Payable 0 Unearned Rent Revenue 1,300 Common Stock 9,500 Retained Earnings 3,600 Service Revenue 33,800 Rent Revenue 10,800 Salaries and Wages Expense 16,800 Supplies Expense...
Closing Entries The adjusted trial balance of the Petal Corporation, prepared as of December 31, contains the following accounts: Debit Credit Service fees earned $87,500 Interest income 2,600 Salaries expense $41,800 Advertising expense 6,300 Depreciation expense 8,700 Income tax expense 11,000 Common stock 75,000 Retained earnings 60,000 Cash dividends 15,000 Prepare journal entries to close the accounts directly to Retained Earnings. After these entries are posted, what is the ending balance in the Retained Earnings account? General Journal Date Description...
The trial balances before and after adjustment for Crane Company at the end of its fiscal year are presented below. After Adjustment Dr. Cr. $10,000 9,500 700 2,700 12,400 CRANE COMPANY Trial Balance August 31, 2020 Before Adjustment Dr. Cr. Cash $10,000 Accounts Receivable 8,900 Supplies 2,400 Prepaid Insurance 3,900 Equipment 12,400 Accumulated Depreciation-Equipment $3,400 Accounts Payable 5,800 Salaries and Wages Payable 0 Unearned Rent Revenue 1.400 Owner's Capital 13,700 Service Revenue 34,000 Rent Revenue 11,100 Salaries and Wages Expense...
Presented below is an adjusted
trial balance for Shawn Company, at December 31, 2018. Cash $ 7,700
Accounts payable $10,000 Accounts receivable 20,000 Notes payable
9,000 Prepaid insurance 15,000 Accumulated depreciation—Equipment
14,000 Equipment 35,000 Service revenue 29,000 Depreciation expense
7,000 Common stock 10,000 Dividends 1,500 Retained earnings 14,000
Advertising expense 1,400 Unearned service revenue 16,000 Rent
expense 800 Salaries and wages expense 12,000 Insurance expense
1,600 $102,000 $102,000
Question 5 Presented below is an adjusted trial balance for Shawn Company,...
The trial balances before and after adjustment for Marigold Corp. at the end of its fiscal year are presented below. Marigold Corp. Trial Balance August 31, 2020 Before Adjustment Dr. Cr. Cash $10,100 8,700 2,500 3,900 After Adjustment Dr. Cr. $10,100 10,000 600 2,700 14,400 $4,600 5,800 1,300 700 14,400 $3,500 5,800 0 1,500 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Service Revenue Rent Revenue...
Sheridan Company shows the following balances in selected accounts of its adjusted trial balance. Supplies Supplies Expense Accounts Receivable Dividends Retained Earnings Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense $24,320 4,560 9,120 16.720 53,200 82,080 30,400 6,080 13,680 Date Account Titles and Explanation Debit Credit Dec. 31 (To cose revenue to income summary) Dec. 31 (To close expenses to income summary) Dec. 31 (To cose net income to retained earnings)
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...
Paloma Company shows the following balances in selected accounts
of its adjusted trial balance.
Paloma Company shows the following balances in selected accounts of its adjusted trial balance. Supplies $32,000 Service Revenue $108,000 40.000 Supplies Expense Accounts Receivable 6,000 Salaries and Wages Expense 12.000 Utilities Expense 8.000 Owner's Drawings 22,000 Rent Expense 18.000 Owner's Capital 70,000 Journalize the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manus Date Account Titles...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Whispering Winds Corp. is provided below. Debit Credit Accounts Receivable Dividends $58,080 21,040 10,560 170,240 72,880 Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue $42,400 91,840 18,320 147,040 4,960 Rent Revenue 2,880 Rent Expense Retained Earnings Supplies Expense 49,440 1,120 Date Account Titles and Explanation Debit Credit Dec. 31 Service Revenue 147,040 Rent Revenue 4,960 Income Summary...
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