Homework Answers
closing entries posting in t-accounts as follows:
| Salaries and Wage expense | |||
| Jul. 18 | $8,800 | ||
| Jul. 31 | $8,800 | ||
| Jul. 31 bal. | $17,600 | Jul. 31 closing | $17,600 |
| Rent expense | |||
| Jul. 31 | $3,200 | ||
| Jul. 31 bal. | $3,200 | Jul. 31 closing | $3,200 |
| Advertisement expense | |||
| Jul. 20 | $1,800 | ||
| Jul. 31 bal. | $1,800 | Jul. 31 closing | $1,800 |
| Supplies expense | |||
| Jul. 31 bal. | $1,000 | ||
| Jul. 31 bal. | $1,000 | Jul. 31 closing | $1,000 |
| Utilities expense | |||
| Jul. 31 bal. | $640 | ||
| Jul. 31 bal. | $640 | Jul. 31 closing | $640 |
| Depreciation expense | |||
| Jul. 31 bal. | $400 | ||
| Jul. 31 bal. | $400 | Jul. 31 closing | $400 |
| Insurance expense | |||
| Jul. 31 bal. | $250 | ||
| Jul. 31 bal. | $250 | Jul. 31 closing | $250 |
| Interest expense | |||
| Jul. 31 bal. | $80 | ||
| Jul. 31 bal. | $80 | Jul. 31 closing | $80 |
| Income tax expense | |||
| Jul. 31 bal. | $960 | ||
| Jul. 31 bal. | $960 | Jul. 31 closing | $960 |
| Service revenue | |||
| Jul. 13 | $900 | ||
| Jul. 20 | $22,400 | ||
| Jul. 23 | $8,000 | ||
| Jul. 31 closing | $31,300 | Jul. 31 bal. | $31,300 |
| Retained Earnings | |||
| Jul. 1, bal. | $1,570 | ||
| Jul. 31 | $5,370 | ||
| Jul. 31 bal. | $6,940 | ||
| Income summary | |||
| Jul. 31 | $25,930 | Jul. 31 | $31,300 |
| $5,370 | |||
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Date Account Titles and...
Ayayai Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $10,800...
Ayayai Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $10,800 112 Accounts Receivable 8,800 157 Equipment 16,000 158 Accumulated Depreciation-Equip. $7.200 201 Accounts Payable 4,400 208 Unearned Rent Revenue 2.400 311 Common Stock 19,900 320 Retained Earnings 26,000 332 Dividends 16,300 400 Service Revenue 64,100 429 Rent Revenue 6,400 711 Depreciation Expense 7,600 726 Salaries and Wages Expense 55,800 732 Utilities Expense 15,100 $130,400 $130,400 Post to the Retained Earnings and Income Summary accounts....
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QUESTION: I NEED AND INCOME STATEMENT FROM THE INFORMATION THAT FOLLOW. (CLOSING REPORTS) Q Credit Date...
QUESTION: I NEED AND INCOME STATEMENT FROM THE INFORMATION THAT
FOLLOW. (CLOSING REPORTS)
Q
Credit Date Account Titles and Explanation 31-Dec Service Revenue Consulting Revenue Income Summary (To close revenue account) $ $ Debit 20,000 10,000 $ 30,000 $ 16,701 $ $ 31-Dec Income Summary Cost of goods sold Advertising Expense Utilities Expense R&M Expense Wages Expense Interest Expense Insurance Expense Depreciation Expense (To close expense accounts) $ $ $ $ $ 1,500 1,500 2,000 1,800 4,400 1,723 2,000 1,778...
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Journalize the closing entries. (Credit account titles are automatically indented when the amount is entered. Do...
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(9) Journalize the closing entries. (Credit account titles are automatically indented when the amount is entered....
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s Kimmel, Financial Accounting, 9e Exercise 4-21 (Part Level Submission) Selected year-end account balances from the...
s Kimmel, Financial Accounting, 9e Exercise 4-21 (Part Level Submission) Selected year-end account balances from the adjusted trial balance as of December 31, 2022 Credit Debit $88,570 32,090 16,100 259,620 111,140 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $64,660 140,060 27,940 224,240 7,560 4,390 75,400 1,710 Your answer is partially correct. Try again. Prepare closing entries. (Credit account titles are...
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Prongnorn Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $8,700 112 Accounts Receivable 8,900 157 Equipment 16,300 158 Accumulated Depreciation-Equip. $7,000 4,100 201 Accounts Payable 208 Unearned Rent Revenue 1,900 311 Common Stock 20,200 320 Retained Earnings 25,600 332 Dividends 15,000 400 Service Revenue 63,500 429 Rent Revenue 6.700 711 Depreciation Expense 8,800 726 Salaries and Wages Expense 55,800 732 Utilities Expense 15,500 $129,000 $129.000 July 31 Service Revenue 63,500 Rent Revenue 6,700 Income...
QUESTION: I NEED AND INCOME STATEMENT FROM THE INFORMATION THAT
FOLLOW. (CLOSING REPORTS)
Q
Credit Date Account Titles and Explanation 31-Dec Service Revenue Consulting Revenue Income Summary (To close revenue account) $ $ Debit 20,000 10,000 $ 30,000 $ 16,701 $ $ 31-Dec Income Summary Cost of goods sold Advertising Expense Utilities Expense R&M Expense Wages Expense Interest Expense Insurance Expense Depreciation Expense (To close expense accounts) $ $ $ $ $ 1,500 1,500 2,000 1,800 4,400 1,723 2,000 1,778...
BRIDGEPORT COMPUTER CONSULTANTS Trial Balances July 31, 2017 Debit Credit Cash 42,020 Accounts Receivable 10,400 Prepaid Insurance 2.750 Supplies 2,550 Prepaid Rent 3.200 Equipment Accumulated Depreciation Equipment 400 Accounts Payable 2.440 Interest Payable Salaries and Wages Payable 8,800 Income Taxes Payable 960 Unearned Service Revenue 1,600 Notes Payable 16,000 Common Stock 42.900 Common Stock 42,900 Retained Earnings 1,570 Service Revenue 31,300 Salaries and Wages Expense 17,600 Rent Expense 3,200 Advertising Expense 1,800 Supplies Expense 1,000 Utilities Expense Depreciation Expense Insurance...
Journalize the closing entries. (Credit account titles 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 o for the amounts.) Date Account Titles and Explanation Credit Debit 7728 Nov. 30 Service Revenue Sales Revenue 6050 Income Summary 13778 (To close revenue accounts and other accounts with credit balances.) Nov. 30 Income Summary 10279 Sales Discounts 121 Cost of Goods Sold 4400 Rent Expense...
(9) Journalize the closing entries. (Credit account titles 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 o for the amounts.) Date Account Titles and Explanation Debit Credit Nov. 30 Service Revenue 7728 Sales Revenue 6050 13778 Income Summary (To close revenue accounts and other accounts with credit balances.) Nov. 30 Income Summary 10279 Sales Discounts 121 Cost of Goods Sold 4400 Rent...
swimy company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $8,100 112 Accounts Receivable 8.900 157 Equipment 15,600 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue $7,200 4,900 1,500 16,800 26,000 311 Common Stock 320 Retained Earnings 332 Dividends 15,500 400 Service Revenue 64,300 429 Rent Revenue 6,100 711 Depreciation Expense 6.900 726 Salaries and Wages Expense 56.700 732 Utilities Expense 15.100 $126.800 $126,800 Date Account Titles and Explanation Debit Credit July 31...
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...
s Kimmel, Financial Accounting, 9e Exercise 4-21 (Part Level Submission) Selected year-end account balances from the adjusted trial balance as of December 31, 2022 Credit Debit $88,570 32,090 16,100 259,620 111,140 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $64,660 140,060 27,940 224,240 7,560 4,390 75,400 1,710 Your answer is partially correct. Try again. Prepare closing entries. (Credit account titles are...
Murphy Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable Supplies $22,630 17,720 9,150 41,700 Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock $8,800 4,310 1,500 35,590 21,600 Retained Earnings Dividends 14,000 Commission Revenue Rent Revenue Depreciation Expense Utilities Expense Supplies Expense Total 45,900 6,400 5,400 7,900 5,600 $124,100 S124,100 The president of Murphy Company has asked you to close the books (prepare and process the closi Required: Rent Revenue Depreciation Expense Utilities...
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