Homework Answers
Nominal accounts will be closed every year by transferring to profit and loss account.But,Real accounts and Personal accounts will not be closed and balance amount will be carry forward to next year.
In the above question,cash account will not be closed.
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Question 13 Which of the following accounts is not closed? Rent Expense Cash Joan Wilson, Drawing...
30. Which of the following accounts does get closed? a. service revenue b. rent expense c....
30. Which of the following accounts does get closed? a. service revenue b. rent expense c. drawings d. all of the above 31. Which of the following appears on the multiple-step income statenent? a. Rent Expense- Office b. nvestments C. Cash d. Accumulated Depreciation Which of the following accounts is not a liability?! mortgage payable accounts payable Lnearned revenue d. all of the above are liabilities b.
Question 1 (7.7 points) Which of the following accounts will be closed to the Retained Earnings...
Question 1 (7.7 points) Which of the following accounts will be closed to the Retained Earnings account at the end of the fiscal year? OA) Rent Expense OB) Fees Earned C) Depreciation Expense OD) All of the above
What is the drawing, fees earned, wages expense, rent expense, & utilities expense? 32 | Balance...
What is the drawing,
fees earned, wages expense, rent expense, & utilities
expense?
32 | Balance Kris Storey, Drawing Date Item 2019 June Post Ref. Dr. Cr. Dr. Cr. Fees Earned 41 Post _ Dr. Balance 4 Cr. Item Ref. Cr. Dr. Date 2019 June Wages Expense Enter as a formula calling on amounts in the trial balance. Dr. 51 Balance Dr. Cr. Item cr. Date 2019 June Rent Expense 53 Post Balance Item Ref. Dr. Cr. Dr. Balance Cr....
Which of the following accounts will not be closed at the end of the year? OA)...
Which of the following accounts will not be closed at the end of the year? OA) Fees Earned OB) Unearned Rent OC) Salaries Expense OD) Depreciation Expense
Barrington Company has the following chart of accounts: Cash Michelle Barrington, Drawing Accounts Receivable Fees Income...
Barrington Company has the following chart of accounts: Cash Michelle Barrington, Drawing Accounts Receivable Fees Income Supplies Advertising Expense Office Furniture Rent Expense Equipment Salaries Expense Accounts Payable Telephone Expense Michelle Barrington, Capital Utilities Expense Use this chart of accounts to write journal entries for each of the following transactions. Michelle Barrington invested $16,000 cash to start the business Issued check #101 to pay $1,200 for this month's rent for the office space. Purchased equipment for $7,000; issued check #102...
The following is the adjusted trial balance of Wilson Trucking Company. Account Title Cash Accounts receivable...
The following is the adjusted trial balance of Wilson Trucking Company. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit 5,500 16,500 2,000 166,000 $ 34,196 75,000 9,500 3,000 52,000 146,333 19,000 149,500 E 22,056 70,116 5,500 12,857 $ 394,529 $ 394,529 The K. Wilson, Capital account balance is $146,333...
The following accounts show transactions that were recorded by Residential Relocators, a firm that specializes in...
The following accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first transaction are labeled with the letter (a). the entries for the second transaction with the letter (b), and so on. Cash Equipment Accounts Receivable (a) 174,000 (b) 30,000 (c) 64,000 (f) 11,200 (g) 1,400 (d) 14,000 (e) 540 (g) 1,400 (h) 9,400 (i) 3,400 Accounts Payable Supplies Wade Wilson, Capital (c) 64,000 (b) 30,000 (a) 174,000...
The following is the adjusted trial balance of Wilson Trucking Company Account Title Cash Accounts receivable...
The following is the adjusted trial balance of Wilson Trucking Company Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit 5,500 16,500 2,000 166,000 $ 34, 196 75,000 9,500 3,000 52,000 146,333 19,000 149,500 22,056 70,116 5,500 12,857 $ 394,529 $ 394,529 The K. Wilson, Capital account balance is $146.333...
The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes...
The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first transaction are labeled with the letter (a), the entries for the second transaction with the letter (b), and so on. Equipment 40,ese Accounts Receivable 5,000 (b) Cash 95.000 15,000 1,500 (c) (f) 1.500 (a) (d) 23.089 350 5,509 2.500 (8) Accounts Payable (c) Supplies 23. Wade Wilson, Capital (a) 40,000 (b) 95,000 Fees Income Telephone...
Which of the following is TRUE regarding the accounts prepaid rent and rent expense? A.Prepaid rent...
Which of the following is TRUE regarding the accounts prepaid rent and rent expense? A.Prepaid rent represents the cost of rent not yet paid for, while rent expense represents the cost of rent which has been paid for. B.TThese account titles both mean the same thing and are used interchangeably. C.Prepaid rent represents the cost of rent paid for but not yet used, while rent expense represents the cost of rent used to deliver goods or services to customers. D.Rent...
30. Which of the following accounts does get closed? a. service revenue b. rent expense c. drawings d. all of the above 31. Which of the following appears on the multiple-step income statenent? a. Rent Expense- Office b. nvestments C. Cash d. Accumulated Depreciation Which of the following accounts is not a liability?! mortgage payable accounts payable Lnearned revenue d. all of the above are liabilities b.
Question 1 (7.7 points) Which of the following accounts will be closed to the Retained Earnings account at the end of the fiscal year? OA) Rent Expense OB) Fees Earned C) Depreciation Expense OD) All of the above
What is the drawing,
fees earned, wages expense, rent expense, & utilities
expense?
32 | Balance Kris Storey, Drawing Date Item 2019 June Post Ref. Dr. Cr. Dr. Cr. Fees Earned 41 Post _ Dr. Balance 4 Cr. Item Ref. Cr. Dr. Date 2019 June Wages Expense Enter as a formula calling on amounts in the trial balance. Dr. 51 Balance Dr. Cr. Item cr. Date 2019 June Rent Expense 53 Post Balance Item Ref. Dr. Cr. Dr. Balance Cr....
Which of the following accounts will not be closed at the end of the year? OA) Fees Earned OB) Unearned Rent OC) Salaries Expense OD) Depreciation Expense
The following is the adjusted trial balance of Wilson Trucking Company. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit 5,500 16,500 2,000 166,000 $ 34,196 75,000 9,500 3,000 52,000 146,333 19,000 149,500 E 22,056 70,116 5,500 12,857 $ 394,529 $ 394,529 The K. Wilson, Capital account balance is $146,333...
The following accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first transaction are labeled with the letter (a). the entries for the second transaction with the letter (b), and so on. Cash Equipment Accounts Receivable (a) 174,000 (b) 30,000 (c) 64,000 (f) 11,200 (g) 1,400 (d) 14,000 (e) 540 (g) 1,400 (h) 9,400 (i) 3,400 Accounts Payable Supplies Wade Wilson, Capital (c) 64,000 (b) 30,000 (a) 174,000...
The following is the adjusted trial balance of Wilson Trucking Company Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit Credit 5,500 16,500 2,000 166,000 $ 34, 196 75,000 9,500 3,000 52,000 146,333 19,000 149,500 22,056 70,116 5,500 12,857 $ 394,529 $ 394,529 The K. Wilson, Capital account balance is $146.333...
The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first transaction are labeled with the letter (a), the entries for the second transaction with the letter (b), and so on. Equipment 40,ese Accounts Receivable 5,000 (b) Cash 95.000 15,000 1,500 (c) (f) 1.500 (a) (d) 23.089 350 5,509 2.500 (8) Accounts Payable (c) Supplies 23. Wade Wilson, Capital (a) 40,000 (b) 95,000 Fees Income Telephone...
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