Homework Answers
Journal entries are prepared as follows:
| No | Accounts name and explanation | Debit | Credit |
| A | Supplies expense (5050 -1450) | 3600 | |
| Supplies | 3600 | ||
| (To record supplies on hand) | |||
| B | Insurance expense (2100/12*6) | 1050 | |
| Prepaid insurance | 1050 | ||
| (To record insurance expense for the year) | |||
| C | Advertising expense | 10000 | |
| Cash | 10000 | ||
| (To record advertising expense paid in cash) |
Add Answer to:
2. The year-end trial balance dated December 31, 20-3, for Kareem Industries showed Supplies at $5...
The trial balance for December 31 pocal UncОЛ К. The trial balance for December 31, 20--...
The trial balance for December 31
pocal UncОЛ К. The trial balance for December 31, 20-- has been entered below on the partial work sheet for Camping Supply Center Required: 1. Complete the Adjustments columns using the following year-end adjustments information. Identify each adjustment with its corresponding letter. a./b. Based on a physical count, it was determined that merchandise inventory costing $21,700 is on hand as of December 31, 20-- c. Supplies remaining at the end of the year, $6,300....
Sunland Advertising Company's trial balance at December 31 shows Supplies 56,900 and Supplies Experse $0 On...
Sunland Advertising Company's trial balance at December 31 shows Supplies 56,900 and Supplies Experse $0 On December 31, there are $2,800 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually Credit Date Account Titles and Explanation Debit Dec. 31 Supplies Supplies Expense...
$270 470 74 Ayayai Corp. Trial Balance December 31, 2022 Cash Accounts Receivable Prepaid Insurance Supplies...
$270 470 74 Ayayai Corp. Trial Balance December 31, 2022 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense 162 3600 $540 346 1080 1260 2700 900 450 $5926 $5926 If, on December 31, 2022, the insurance still unexpired amounted to $18, the adjusting entry would contain a: debit to Prepaid Insurance for $56. debit to Insurance Expense for $56. debit to Prepaid Insurance for...
The following is Sunlight Co. year-end adjusted trial balance dated December 31, 2018. Sunlight Co. Adjusted Trial...
The following is Sunlight Co. year-end adjusted trial balance dated December 31, 2018. Sunlight Co. Adjusted Trial Balance at 31 December 2018 Debit Credit Cash $ 5,700 Accounts Receivable 4,500 Prepaid Insurance 2,100 Office Equipment 18,300 Accumulated Depreciation: Office Equipment $ 600 Accounts Payable 3,600 Capital Stock 15,300 Retained Earnings 2,700 Dividends 1,100 Revenue 21,750 Salaries Expense Utilities Expense Rent Expense Depreciation Expense 6,600 1,800 2,700 600 552 $43.950 $43.950 Income Taxes Expense Instructions: Using Adjusted Trial Balance above: (1)...
Millar Ltd has the following unadjusted trial balance at 31 December 2018. Account titles Debit Credit...
Millar Ltd has the following unadjusted trial balance at 31 December 2018. Account titles Debit Credit Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation - Equipment Other assets (non-current) Accounts pavable Share capital (3000 shares outstanding all year) Retained profit Service revenue Cost of Goods Sold 19 600 7 000 1 300 900 27 000 12 000 5 100 7 500 16 000 10 300 48 000 32 900 93 800 93 800 Data not yet recorded at 31...
Wildhorse Advertising Company's trial balance at December 31 shows Supplies $8,400 and Supplies Expense $0
Wildhorse Advertising Company's trial balance at December 31 shows Supplies $8,400 and Supplies Expense $0.On December 31. there are $2,800 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)The ledger of Blossom, Inc. on March 31, 2020, includes the following selected accounts before...
Problem 3 (44 points) The following is Sunlight Co. year-end adjusted trial balance dated December 31,...
Problem 3 (44 points) The following is Sunlight Co. year-end adjusted trial balance dated December 31, 2018. Sunlight Co. Adjusted Trial Balance at 31 December 2018 Debit Credit $ 5.700 Cash 4,500 Accounts Receivable 2,100 Prepaid Insurance nce Office Equipment 18,300 $ 600 Accumulated Depreciation: Office Equipment 3,600 Accounts Payable Capital Stock 15,300 2,700 Retained Earnings 1,100 Dividends 21,750 Revenue Salaries Expense 6,600 Utilities Expense Rent Expense 1,800 2,700 Depreciation Expense 600 Income Taxes Expense 550 $43,950 $43.950 Instructions: Using...
the unadjusted trial balance for sandhill engineering at its year end , december 31,2021 Help System...
the
unadjusted trial balance for sandhill engineering at its year end ,
december 31,2021
Help System Announcements Exercise 4-9 The unadjusted trial balance for Sandhill Engineering at its year end, December 31, 2021, is as follows: Credit SANDHILL ENGINEERING Trial Balance December 31, 2021 Debit Cash $8,300 Accounts receivable 6,750 Supplies 5,150 Prepaid insurance 7,440 Notes receivable 12,400 Equipment 27,000 Accumulated depreciation equipment Accounts payable H. Duguay, capital H. Duguay, drawings 53,500 Service revenue Salaries expense 39,500 $160,040 $8,100 5,000...
The following unadjusted trial balance is for Groenke Construction Company as of year-end for the December...
The following unadjusted trial balance is for Groenke
Construction Company as of year-end for the December 31, 20x7
fiscal year. The December 31, 20x6 credit balance of the
stockholders’ equity account is $50,500, and the stockholders
invested $45,000 cash in the company during 20x7.
Account Title
Debit Credit
101 Cash $15,000
126 Supplies $8,500
128 Pre-paid
insurance $11,200
167 Equipment $175,000
168 Accumulated
depreciation – equipment
$19,000
201 Accounts
payable
$9,250
251 Long-term
notes
payable
$45,000
301 Shareholders’
equity
$106,900
302 Dividends $15,750
401 Construction
Revenue $153,000
623 Wage
expense $61,800
633 Interest
expense
$6,250
640 Rent
expense $15,750
683 Property
tax...
The following unadjusted trial balance is for Groenke Construction Company as of year-end for the December...
The following unadjusted trial balance is for Groenke Construction Company as of year-end for the December 31, 20x7 fiscal year. The December 31, 20x6 credit balance of the stockholders’ equity account is $50,500, and the stockholders invested $45,000 cash in the company during 20x7. Account Title Debit Credit 101 Cash $15,000 126 Supplies $8,500 128 Pre-paid insurance $11,200 167 Equipment $175,000 168 Accumulated depreciation – equipment $19,000 201 Accounts payable $9,250 251 Long-term notes...
The trial balance for December 31
pocal UncОЛ К. The trial balance for December 31, 20-- has been entered below on the partial work sheet for Camping Supply Center Required: 1. Complete the Adjustments columns using the following year-end adjustments information. Identify each adjustment with its corresponding letter. a./b. Based on a physical count, it was determined that merchandise inventory costing $21,700 is on hand as of December 31, 20-- c. Supplies remaining at the end of the year, $6,300....
Sunland Advertising Company's trial balance at December 31 shows Supplies 56,900 and Supplies Experse $0 On December 31, there are $2,800 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually Credit Date Account Titles and Explanation Debit Dec. 31 Supplies Supplies Expense...
$270 470 74 Ayayai Corp. Trial Balance December 31, 2022 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense 162 3600 $540 346 1080 1260 2700 900 450 $5926 $5926 If, on December 31, 2022, the insurance still unexpired amounted to $18, the adjusting entry would contain a: debit to Prepaid Insurance for $56. debit to Insurance Expense for $56. debit to Prepaid Insurance for...
The following is Sunlight Co. year-end adjusted trial balance dated December 31, 2018. Sunlight Co. Adjusted Trial Balance at 31 December 2018 Debit Credit Cash $ 5,700 Accounts Receivable 4,500 Prepaid Insurance 2,100 Office Equipment 18,300 Accumulated Depreciation: Office Equipment $ 600 Accounts Payable 3,600 Capital Stock 15,300 Retained Earnings 2,700 Dividends 1,100 Revenue 21,750 Salaries Expense Utilities Expense Rent Expense Depreciation Expense 6,600 1,800 2,700 600 552 $43.950 $43.950 Income Taxes Expense Instructions: Using Adjusted Trial Balance above: (1)...
Millar Ltd has the following unadjusted trial balance at 31 December 2018. Account titles Debit Credit Cash Accounts receivable Supplies Prepaid insurance Equipment Accumulated depreciation - Equipment Other assets (non-current) Accounts pavable Share capital (3000 shares outstanding all year) Retained profit Service revenue Cost of Goods Sold 19 600 7 000 1 300 900 27 000 12 000 5 100 7 500 16 000 10 300 48 000 32 900 93 800 93 800 Data not yet recorded at 31...
Problem 3 (44 points) The following is Sunlight Co. year-end adjusted trial balance dated December 31, 2018. Sunlight Co. Adjusted Trial Balance at 31 December 2018 Debit Credit $ 5.700 Cash 4,500 Accounts Receivable 2,100 Prepaid Insurance nce Office Equipment 18,300 $ 600 Accumulated Depreciation: Office Equipment 3,600 Accounts Payable Capital Stock 15,300 2,700 Retained Earnings 1,100 Dividends 21,750 Revenue Salaries Expense 6,600 Utilities Expense Rent Expense 1,800 2,700 Depreciation Expense 600 Income Taxes Expense 550 $43,950 $43.950 Instructions: Using...
the
unadjusted trial balance for sandhill engineering at its year end ,
december 31,2021
Help System Announcements Exercise 4-9 The unadjusted trial balance for Sandhill Engineering at its year end, December 31, 2021, is as follows: Credit SANDHILL ENGINEERING Trial Balance December 31, 2021 Debit Cash $8,300 Accounts receivable 6,750 Supplies 5,150 Prepaid insurance 7,440 Notes receivable 12,400 Equipment 27,000 Accumulated depreciation equipment Accounts payable H. Duguay, capital H. Duguay, drawings 53,500 Service revenue Salaries expense 39,500 $160,040 $8,100 5,000...
The following unadjusted trial balance is for Groenke
Construction Company as of year-end for the December 31, 20x7
fiscal year. The December 31, 20x6 credit balance of the
stockholders’ equity account is $50,500, and the stockholders
invested $45,000 cash in the company during 20x7.
Account Title
Debit Credit
101 Cash $15,000
126 Supplies $8,500
128 Pre-paid
insurance $11,200
167 Equipment $175,000
168 Accumulated
depreciation – equipment
$19,000
201 Accounts
payable
$9,250
251 Long-term
notes
payable
$45,000
301 Shareholders’
equity
$106,900
302 Dividends $15,750
401 Construction
Revenue $153,000
623 Wage
expense $61,800
633 Interest
expense
$6,250
640 Rent
expense $15,750
683 Property
tax...
Most questions answered within 3 hours.
-
The EPA wants to test a randomly selected sample of n
n
water specimens and estimate...
asked 4 minutes ago -
A researcher performs a hypothesis test to test the claim that
for a particular manufacturer, the...
asked 6 minutes ago -
Prepare the adjusting entries, and post to the T-accounts.
a.
Office Supplies used during the month,...
asked 8 minutes ago -
G. Li, B. C. Ooi, J.
Feng, J. Wang, and L. Zhou. EASE: an effective 3-in-1...
asked 8 minutes ago -
The comparisons of Scholastic Aptitude Test (SAT) scores based
on the highest level of education attained...
asked 15 minutes ago -
A long solenoid has a diameter of 9.97 cm. When a current i
exists in its...
asked 22 minutes ago -
1. A motorcycle rider travels along a straight line with
constant velocity. He then throws a...
asked 39 minutes ago -
You are stopped at a red light at a freeway on-ramp. When the
light turns green,...
asked 37 minutes ago -
The freezing point of water H2O is 0.00°C at 1 atmosphere. How
many grams of manganese(II)...
asked 39 minutes ago -
explain the motives and methods for intrusion of the MS and Linux
operating systems
asked 39 minutes ago -
Are our social identities a) chosen for us or b) open to
negotiation? Pick a position...
asked 48 minutes ago -
A charge of -6 micro-coulombs is placed at the origin, a charge
of +7 micro-coulombs is...
asked 53 minutes ago