Homework Answers
1. RATTLERS TAX SERVICES
Post-Closing Trial Balance
| Accounts | Debit | Credit |
| cash | 3900 | |
| Accounts Receivable | 6400 | |
| Land | 100000 | |
| Accounts Payable | 3600 | |
| Retained Earnings | 32700 | |
| Common stock | 74000 | |
| Totals | 110300 | 110300 |
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Required information Problem 3-6A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) The...
Required information Problem 3-6A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) The...
Required information Problem 3-6A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) The following information applies to the questions displayed below The year-end financial statements of Rattiers Tax Services are provided below. RATTLERS TAX SERVICES Income Statement Service revenue $ 73,500 Expenses: Salaries $45.200 Utilities 7.400 Insurance 5.000 Supplies 1.700 59,300 Set income $14.200 FUTTLERS TAX SERVICES Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance, Jan. $52,000 $23,700 75,700 22,000 14,200 (5,200)...
Return to question Exercise 3-18B Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7)...
Return to question Exercise 3-18B Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) A company's fiscal year-end is December 31, Year 1. The following is an adjusted trial balance as of December 31. Credit Debit $ 10,300 30,500 21,500 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals $ 1,300 13,000 31,500 7,300 2,300 55,700 18,300 11,300 8,300 6,300 $100,800 $...
Exercise 3-19 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) [The following information...
Exercise 3-19 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) [The following information applies to the questions displayed below.,] The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Debit Credit Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense $ 11,800 148,000 5,800 29,000...
Required information Exercise 3-19A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) The...
Required information Exercise 3-19A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 11,500 145,000 5,500 27,500 350,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation...
Exercise 3-18 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker Incorporated's fiscal...
Exercise 3-18 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker Incorporated's fiscal year-end is December 31, 2018. The following is an adjusted trial balance as of December 31 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Credit Debit 10,500 31,500 22,500 $ 1,500 15,000 32,500 2,500 55,500 18,500 11,500 8,500 6,500 Totals $112,000 112,000 1. Prepare the necessary closing entries....
Exercise 3-18A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker incorporated's fiscal...
Exercise 3-18A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker incorporated's fiscal year-end is December 31, 2021. The following is an adjusted trial balance as of December 31. Credit Debit $ 12,000 39,000 30,000 $ Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals 3,000 30,000 40,000 9,000 4,000 54,000 20,000 13,000 10,000 8.000 $136,000 $136,000 Required: 1. Prepare the...
Required information Exercise 3-19A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) [The...
Required information Exercise 3-19A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) [The following information applies to the questions displayed below) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 11,100 141,000 5,100 25,500 310,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in the years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation...
6 Prepare the closing eneries, and post to the accounts 7. Prepare a post-closing trial balance....
6 Prepare the closing eneries, and post to the accounts 7. Prepare a post-closing trial balance. 8 Caloulate the current ratio for the company 234 chapter 4 post-closing trial balance with an optional worksheet On December 1, Bob Waldo began an auto repair shop, Waldo's Quality Automoiv Learning Objectives 1, 2, 3, P4-33A Completing the accounting cycle from journal entries to 4, 5 6. Ending Retained Eamings $5,095 The following transactions occurred during December Waldo contributed $70,000 cash to the...
Brief Exercise 3-20 Prepare a post-closing trial balance (LO3-7) The year-end adjusted trial balance of Hilltoppers...
Brief Exercise 3-20 Prepare a post-closing trial balance (LO3-7) The year-end adjusted trial balance of Hilltoppers Corporation included the following account balances: Cash, $3,800; Equipment, $15,800; Accounts Payable, $1,800; Common Stock, $10,000; Retained Earnings, $6,600; Dividends, $1,000; Service Revenue, $14,800; Salaries Expense, $9,800; and Utilities Expense, $2,800. Prepare the post-closing trial balance. HILLTOPPERS CORPORATION Post-Closing Trial Balance Accounts Debit Credit Cash Equipment Accounts Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Utilities Expense Totals $ 0 $ 0
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018, The accounts have normal debitor credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expenso Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and...
Required information Problem 3-6A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) The following information applies to the questions displayed below The year-end financial statements of Rattiers Tax Services are provided below. RATTLERS TAX SERVICES Income Statement Service revenue $ 73,500 Expenses: Salaries $45.200 Utilities 7.400 Insurance 5.000 Supplies 1.700 59,300 Set income $14.200 FUTTLERS TAX SERVICES Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance, Jan. $52,000 $23,700 75,700 22,000 14,200 (5,200)...
Return to question Exercise 3-18B Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) A company's fiscal year-end is December 31, Year 1. The following is an adjusted trial balance as of December 31. Credit Debit $ 10,300 30,500 21,500 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals $ 1,300 13,000 31,500 7,300 2,300 55,700 18,300 11,300 8,300 6,300 $100,800 $...
Exercise 3-19 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) [The following information applies to the questions displayed below.,] The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Debit Credit Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense $ 11,800 148,000 5,800 29,000...
Required information Exercise 3-19A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 11,500 145,000 5,500 27,500 350,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation...
Exercise 3-18 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker Incorporated's fiscal year-end is December 31, 2018. The following is an adjusted trial balance as of December 31 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Credit Debit 10,500 31,500 22,500 $ 1,500 15,000 32,500 2,500 55,500 18,500 11,500 8,500 6,500 Totals $112,000 112,000 1. Prepare the necessary closing entries....
Exercise 3-18A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker incorporated's fiscal year-end is December 31, 2021. The following is an adjusted trial balance as of December 31. Credit Debit $ 12,000 39,000 30,000 $ Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals 3,000 30,000 40,000 9,000 4,000 54,000 20,000 13,000 10,000 8.000 $136,000 $136,000 Required: 1. Prepare the...
Required information Exercise 3-19A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) [The following information applies to the questions displayed below) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 11,100 141,000 5,100 25,500 310,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in the years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation...
6 Prepare the closing eneries, and post to the accounts 7. Prepare a post-closing trial balance. 8 Caloulate the current ratio for the company 234 chapter 4 post-closing trial balance with an optional worksheet On December 1, Bob Waldo began an auto repair shop, Waldo's Quality Automoiv Learning Objectives 1, 2, 3, P4-33A Completing the accounting cycle from journal entries to 4, 5 6. Ending Retained Eamings $5,095 The following transactions occurred during December Waldo contributed $70,000 cash to the...
Brief Exercise 3-20 Prepare a post-closing trial balance (LO3-7) The year-end adjusted trial balance of Hilltoppers Corporation included the following account balances: Cash, $3,800; Equipment, $15,800; Accounts Payable, $1,800; Common Stock, $10,000; Retained Earnings, $6,600; Dividends, $1,000; Service Revenue, $14,800; Salaries Expense, $9,800; and Utilities Expense, $2,800. Prepare the post-closing trial balance. HILLTOPPERS CORPORATION Post-Closing Trial Balance Accounts Debit Credit Cash Equipment Accounts Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Utilities Expense Totals $ 0 $ 0
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018, The accounts have normal debitor credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expenso Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and...
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