Homework Answers
(a) As there is a debit and its equal credit, the trail balance will be balanced but the accounting was completely wrong. When ever any expense is incurred, expense should be debited. So here, debit the salaries & wages expense and credit the cash.
(b) Here there is no proper debit for its credit. So trail balance will not be balanced. Even though the accounting is correct, the credit side will be short by $810. In order to balance it, increase the credit side by $810.
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QUESTION 6 State the rules of debit and credit as applied to (a) asset accounts, (b)...
SUNLAND COMPANY Trial Balance June 30, 2017 Debit Credit Cash $ 6,090 Accounts Receivable $6,190 Supplies...
SUNLAND COMPANY Trial Balance June 30, 2017 Debit Credit Cash $ 6,090 Accounts Receivable $6,190 Supplies 2,750 6,000 Equipment Accounts Payable 6,686 Unearned Service Revenue 3.150 Common Stock 12,000 Dividends 800 Service Revenue 6,480 Salaries and Wages Expense 3,450 Utilities Expense 985 $23,325 $31.256 Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $760,...
nistria Dalance or wionorse Locoes not avance WILDHORSE CO. Trial Balance June 30, 2022 Debit Credit...
nistria Dalance or wionorse Locoes not avance WILDHORSE CO. Trial Balance June 30, 2022 Debit Credit Cash $ 4.890 Accounts Receivable $4.990 Supplies 2,450 4,800 Equipment Accounts Payable 5,407 Unearned Service Revenue 2,850 Common Stock 10,800 Dividends 800 Service Revenue 5.280 Salaries and Wages Expense 3,560 Utilities Expense 930 $20,380 $26,377 Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a...
WINTER CO. Trial Balance June 30, 2021 Debit Credit Cash $2,921 Accounts receivable 1.913 Supplies 498...
WINTER CO. Trial Balance June 30, 2021 Debit Credit Cash $2,921 Accounts receivable 1.913 Supplies 498 Equipment $7,875 Accounts payable 2,787 Unearned revenue 1,850 F. Winter, capital 11,134 F. Winter, drawings 785 Service revenue 3,490 Office expense 1,013 Salaries expense 2.994 $11,974 $25,286 Your review of the ledger reveals that each account has a normal balance. You also discover the following errors: 1. Cash received from a customer on account was debited to Cash for $740 and Accounts Receivable was...
I need help making a correct trial balance. Problem 2-04A The following trial balance of Whispering...
I need help making a correct trial balance.
Problem 2-04A The following trial balance of Whispering Winds Co, does not balance Whispering Winds Co. Trial Balance June 30, 2020 Debit Credit Cash Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue $1,870 $2,830 1,100 2,500 3,488 1,100 7,600 2,268 2,490 Salanes and Wages Expense 111,032 Utilities Expense 900 $13,730$15,448 Each of the listed accounts has a normal balance per the g of its account...
2. State the rules of debit and credit as applied to (a) asset accounts, (b) liability...
2. State the rules of debit and credit as applied to (a) asset accounts, (b) liability accounts and (c) the stockholders’ equity accounts (revenue, expenses, dividends, common stock and retained earnings).
US Weygandt, Accounting Principles, 13 Principles of Accounting 13 (ACC 171-185- Practice Assignment Gradebook ORION Downloadable...
US Weygandt, Accounting Principles, 13 Principles of Accounting 13 (ACC 171-185- Practice Assignment Gradebook ORION Downloadable eTextbook signment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX CES 2,780 Service Revenue Salaries and Wages Expense Utilities Expense 2,748 800 $13,080 $16,655 -> art Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors. 1. Cash received from a customer in payment of its account was debited for $740,...
Your answer is partially correct. Try again. This trial balance of Sunland Company does not balance....
Your answer is partially correct. Try again. This trial balance of Sunland Company does not balance. Credit $ 5,890 SUNLAND COMPANY Trial Balance June 30, 2022 Debit Cash Accounts Receivable $ 5,990 Supplies 2,150 Equipment 5,800 Accounts Payable Unearned Service Revenue 2,550 Common Stock Dividends 800 Service Revenue Salaries and Wages Expense 3,550 Utilities Expense 935 $21,775 6 486 11,800 6,280 $30,456 Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger...
Each of the listed accounts has a normal balance per the general ledger. An examination of...
Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $750, and Accounts Receivable was credited for the same amount. The actual collection was for $570. 2. The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340. 3. Services...
prepare a post closing trial balance Question 2 Cullumber Company had the following adjusted trial balance....
prepare a post closing trial balance
Question 2 Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,570 Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 $12,500 O DO 170 N O $ U J.UU ) Prepare...
The following trial balance of Swifty Company does not balance. Your review of the ledger reveals...
The following trial balance of Swifty Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $103. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,850 and $6,690, respectively. (d) A debit posting to Advertising Expense of $279 was omitted. (e)...
SUNLAND COMPANY Trial Balance June 30, 2017 Debit Credit Cash $ 6,090 Accounts Receivable $6,190 Supplies 2,750 6,000 Equipment Accounts Payable 6,686 Unearned Service Revenue 3.150 Common Stock 12,000 Dividends 800 Service Revenue 6,480 Salaries and Wages Expense 3,450 Utilities Expense 985 $23,325 $31.256 Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $760,...
nistria Dalance or wionorse Locoes not avance WILDHORSE CO. Trial Balance June 30, 2022 Debit Credit Cash $ 4.890 Accounts Receivable $4.990 Supplies 2,450 4,800 Equipment Accounts Payable 5,407 Unearned Service Revenue 2,850 Common Stock 10,800 Dividends 800 Service Revenue 5.280 Salaries and Wages Expense 3,560 Utilities Expense 930 $20,380 $26,377 Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a...
WINTER CO. Trial Balance June 30, 2021 Debit Credit Cash $2,921 Accounts receivable 1.913 Supplies 498 Equipment $7,875 Accounts payable 2,787 Unearned revenue 1,850 F. Winter, capital 11,134 F. Winter, drawings 785 Service revenue 3,490 Office expense 1,013 Salaries expense 2.994 $11,974 $25,286 Your review of the ledger reveals that each account has a normal balance. You also discover the following errors: 1. Cash received from a customer on account was debited to Cash for $740 and Accounts Receivable was...
I need help making a correct trial balance.
Problem 2-04A The following trial balance of Whispering Winds Co, does not balance Whispering Winds Co. Trial Balance June 30, 2020 Debit Credit Cash Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue $1,870 $2,830 1,100 2,500 3,488 1,100 7,600 2,268 2,490 Salanes and Wages Expense 111,032 Utilities Expense 900 $13,730$15,448 Each of the listed accounts has a normal balance per the g of its account...
US Weygandt, Accounting Principles, 13 Principles of Accounting 13 (ACC 171-185- Practice Assignment Gradebook ORION Downloadable eTextbook signment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX CES 2,780 Service Revenue Salaries and Wages Expense Utilities Expense 2,748 800 $13,080 $16,655 -> art Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors. 1. Cash received from a customer in payment of its account was debited for $740,...
Your answer is partially correct. Try again. This trial balance of Sunland Company does not balance. Credit $ 5,890 SUNLAND COMPANY Trial Balance June 30, 2022 Debit Cash Accounts Receivable $ 5,990 Supplies 2,150 Equipment 5,800 Accounts Payable Unearned Service Revenue 2,550 Common Stock Dividends 800 Service Revenue Salaries and Wages Expense 3,550 Utilities Expense 935 $21,775 6 486 11,800 6,280 $30,456 Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger...
Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $750, and Accounts Receivable was credited for the same amount. The actual collection was for $570. 2. The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340. 3. Services...
prepare a post closing trial balance
Question 2 Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,570 Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 $12,500 O DO 170 N O $ U J.UU ) Prepare...
The following trial balance of Swifty Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $103. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,850 and $6,690, respectively. (d) A debit posting to Advertising Expense of $279 was omitted. (e)...
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