Homework Answers
Solution:
| Journal Entry - Acker small engine repair company | |||
| Event | Particulars | Debit | Credit |
| 1 | Cash Dr | $56,000.00 | |
| To Common Stock | $56,000.00 | ||
| (To record issue of common stock) | |||
| 2 | Office supplies Dr | $1,000.00 | |
| To Accounts payable | $1,000.00 | ||
| (To record purchase of office supplies) | |||
| 3 | Building Dr | $38,000.00 | |
| To Cash | $38,000.00 | ||
| (To record purchase of building) | |||
| 4 | Cash Dr | $49,000.00 | |
| To Notes Payable | $49,000.00 | ||
| (cash borrowed by issuing notes) | |||
| 5 | Equipment Dr | $4,000.00 | |
| To Cash | $4,000.00 | ||
| (To record purchase of equipment) | |||
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oxplunalul ol the last line of the jour Debit Credit Data Table Cash Office Supplies Building...
Account Title Debit Credit Cash $ 9,600 Accounts receivable 16,500 Office supplies 2,000 Trucks 185,000 Accumulated...
Account Title Debit Credit Cash $ 9,600 Accounts receivable 16,500 Office supplies 2,000 Trucks 185,000 Accumulated depreciation—Trucks $ 38,110 Land 75,000 Accounts payable 13,600 Interest payable 3,000 Long-term notes payable 52,000 Common stock 40,794 Retained earnings 137,500 Dividends 19,000 Trucking revenue 119,500 Depreciation expense—Trucks 24,581 Salaries expense 56,046 Office supplies expense 6,500 Repairs expense—Trucks 10,277 Totals $ 404,504 $ 404,504 Use the above adjusted trial balance to prepare Wilson Trucking Company’s classified balance sheet as of December 31. The Retained...
Account Title Debit Credit Cash $ 8,100 Accounts receivable 27,500 Office supplies 8,030 Trucks 163,000 Accumulated...
Account Title
Debit
Credit
Cash
$
8,100
Accounts receivable
27,500
Office supplies
8,030
Trucks
163,000
Accumulated depreciation—Trucks
$
33,578
Land
47,000
Accounts payable
12,100
Interest payable
2,000
Long-term notes payable
39,000
Common stock
38,640
Retained earnings
137,000
Dividends
27,000
Trucking fees earned
130,000
Depreciation expense—Trucks
21,658
Salaries expense
68,474
Office supplies expense
9,000
Repairs expense—Trucks
12,556
Totals
$
392,318
$
392,318
Use the above adjusted trial balance to prepare Wilson Trucking
Company’s classified balance sheet as of December
31.
...
Debit Credit 16,000 34,000 5,000 350.000 80,000 160,000 Account Title Cash Accounts Receivable Office Supplies Trucks...
Debit Credit 16,000 34,000 5,000 350.000 80,000 160,000 Account Title Cash Accounts Receivable Office Supplies Trucks Accum. Depreciation - Trucks Land Accounts Payable Interest Payable LT Notes Payable Norman Rock, Capital Norman Rock, Withdrawals Delivery fees earned Depreciation expense- Truck Salaries expense Office supplies expense Interest expense Repairs expense - Truck 24,000 5,000 100,000 307.000 34.000 263.000 40.000 110.000 115,000 5.000 10.000 1279.000 779.000 Totals This question will be sent to your instruc Depreciation expense- Truck Salaries expense Office supplies...
Purchased office supplies on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease...
Purchased office supplies on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Bright, the owner, contributed furniture in exchange for capital. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchased office furniture on account Account Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Accrued liability for utilities. Account #1 Account Type Increase/Decrease Debit/Credit...
Debit Credit Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) office supplies Automobiles...
Debit Credit Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable R. Chiara, Capital R. Chiara, Withdrawals Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles Totals $ 209,400 55, 000 19, 600 168, 500 15, 500 168, 000 $100, 000 136, 000 16, 000 83,...
Unadjusted Trial Balance Accounts Debit Credit Cash 197,683 Office Supplies/Lures 4,200 Prepaid Insurance 4,000 Equipment -...
Unadjusted Trial Balance Accounts Debit Credit Cash 197,683 Office Supplies/Lures 4,200 Prepaid Insurance 4,000 Equipment - Boat 32,000 Accumulated Depre - Equipment - Accounts Payable 3,500 Interest Payable - Unearned Service Revenue 14000 Notes Payable 27,500 Common Stock 46,000 Additional paid in capital in excess of par 138,000 Retained Earnings, 1/1/20 - Service Revenue 29,000 Interest Expense 917 Salaries Expense 7,700 Utilities Expense 8,200 Boat Gas Expense 2,800 loss of sales supplies/lures 500 Depreciation Expense - Office Supplies Expense -...
Debit $ 5,000 16,500 2,000 187,000 Account Title Credit Cash Accounts receivable Office supplies Trucks 1.66...
Debit $ 5,000 16,500 2,000 187,000 Account Title Credit Cash Accounts receivable Office supplies Trucks 1.66 $ 38,522 Accumulated depreciation-Trucks polnts Land 75,000 9,000 3,000 52,000 41,590 139,000 Accounts payable Interest payable Long-term notes payable Common stock Retained earnings eBook Dividends 19,000 Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks 123,000 24,847 57,687 Hint 8,500 10,578 $406,112 $406,112 Totals Print The Retained Earnings account balance was $139,000 at December 31 of the prior year. (1) Prepare...
Debit Credit Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) office supplies Automobiles...
Debit Credit Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable R. Chiara, Capital R. Chiara, Withdrawals Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles Totals $ 209,400 55, 000 19, 600 168, 500 15, 500 168, 00G $ 100, 000 136, 000 16, 000...
Data Table Beautiful Tots Child Care Trial Balance August 31, 2017 Balance Debit Credit Account Title Cash 9,000 7,300...
Data Table Beautiful Tots Child Care Trial Balance August 31, 2017 Balance Debit Credit Account Title Cash 9,000 7,300 Accounts Receivable Office Supplies 1,400 Prepaid Insurance 1,000 87,500 Equipment Accounts Payable 3,100 Notes Payable 49,000 55,000 Thompson, Capital Thompson, Withdrawals 3,400 Service Revenue 8,500 Salaries Expense 5,200 1,100 Rent Expense $ 115,900 $ 115,600 Total Print Done More Info Cash is understated by $1,400. A $3,800 debit to Accounts Receivable was posted as a credit. a. b. A $800 purchase...
Credit SUSQUEHANNA EQUIPMENT RENTALS After-Closing Trial Balance December 31, Year Debit Cash Rental equipment Office supplies...
Credit SUSQUEHANNA EQUIPMENT RENTALS After-Closing Trial Balance December 31, Year Debit Cash Rental equipment Office supplies Notes payable Prepaid rent Accounts payable Unearned rental fees Accounts receivable Dividends payable Interest payable Unexpired insurance Salaries payable Accumulated depreciation: rental equipment Capital stock Income taxes payable Retained earnings 9 __ Totals 0 $ We were unable to transcribe this imageDec.26 Rented a backhoe to Mission Landscaping at a price of $290 per day, to be paid when the backhoe is returned. Mission...
Account Title
Debit
Credit
Cash
$
8,100
Accounts receivable
27,500
Office supplies
8,030
Trucks
163,000
Accumulated depreciation—Trucks
$
33,578
Land
47,000
Accounts payable
12,100
Interest payable
2,000
Long-term notes payable
39,000
Common stock
38,640
Retained earnings
137,000
Dividends
27,000
Trucking fees earned
130,000
Depreciation expense—Trucks
21,658
Salaries expense
68,474
Office supplies expense
9,000
Repairs expense—Trucks
12,556
Totals
$
392,318
$
392,318
Use the above adjusted trial balance to prepare Wilson Trucking
Company’s classified balance sheet as of December
31.
...
Debit Credit 16,000 34,000 5,000 350.000 80,000 160,000 Account Title Cash Accounts Receivable Office Supplies Trucks Accum. Depreciation - Trucks Land Accounts Payable Interest Payable LT Notes Payable Norman Rock, Capital Norman Rock, Withdrawals Delivery fees earned Depreciation expense- Truck Salaries expense Office supplies expense Interest expense Repairs expense - Truck 24,000 5,000 100,000 307.000 34.000 263.000 40.000 110.000 115,000 5.000 10.000 1279.000 779.000 Totals This question will be sent to your instruc Depreciation expense- Truck Salaries expense Office supplies...
Purchased office supplies on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Bright, the owner, contributed furniture in exchange for capital. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchased office furniture on account Account Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Accrued liability for utilities. Account #1 Account Type Increase/Decrease Debit/Credit...
Debit Credit Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable R. Chiara, Capital R. Chiara, Withdrawals Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles Totals $ 209,400 55, 000 19, 600 168, 500 15, 500 168, 000 $100, 000 136, 000 16, 000 83,...
Debit $ 5,000 16,500 2,000 187,000 Account Title Credit Cash Accounts receivable Office supplies Trucks 1.66 $ 38,522 Accumulated depreciation-Trucks polnts Land 75,000 9,000 3,000 52,000 41,590 139,000 Accounts payable Interest payable Long-term notes payable Common stock Retained earnings eBook Dividends 19,000 Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks 123,000 24,847 57,687 Hint 8,500 10,578 $406,112 $406,112 Totals Print The Retained Earnings account balance was $139,000 at December 31 of the prior year. (1) Prepare...
Debit Credit Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable R. Chiara, Capital R. Chiara, Withdrawals Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles Totals $ 209,400 55, 000 19, 600 168, 500 15, 500 168, 00G $ 100, 000 136, 000 16, 000...
Data Table Beautiful Tots Child Care Trial Balance August 31, 2017 Balance Debit Credit Account Title Cash 9,000 7,300 Accounts Receivable Office Supplies 1,400 Prepaid Insurance 1,000 87,500 Equipment Accounts Payable 3,100 Notes Payable 49,000 55,000 Thompson, Capital Thompson, Withdrawals 3,400 Service Revenue 8,500 Salaries Expense 5,200 1,100 Rent Expense $ 115,900 $ 115,600 Total Print Done More Info Cash is understated by $1,400. A $3,800 debit to Accounts Receivable was posted as a credit. a. b. A $800 purchase...
Credit SUSQUEHANNA EQUIPMENT RENTALS After-Closing Trial Balance December 31, Year Debit Cash Rental equipment Office supplies Notes payable Prepaid rent Accounts payable Unearned rental fees Accounts receivable Dividends payable Interest payable Unexpired insurance Salaries payable Accumulated depreciation: rental equipment Capital stock Income taxes payable Retained earnings 9 __ Totals 0 $ We were unable to transcribe this imageDec.26 Rented a backhoe to Mission Landscaping at a price of $290 per day, to be paid when the backhoe is returned. Mission...
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