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Income statement (Screenshot 1) and Balance Sheet (Screenshot 2) have been shown above
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Current Year Unadjusted Trial Balance Trial Balance December 31, 2018 Debit Credit Account Title 124,000 96.000...
N. No dividends are to be declared for 2018. 0. Management uses the percentage-of-receivables approach for...
N. No dividends are to be declared for 2018. 0. Management uses the percentage-of-receivables approach for estimating the percent of receivables that will become uncollectible. They have determined that allowance for doubtful accounts should represent 3.5% of the accounts receivable balance, initiating a 1% increase due to the economic circumstances of many of its customers. Adjustment should be made based on the adjusted accounts receivable balance. Note: 2018 Tax rate is 30%. Bust-a-Move Snowboard has asked you to make the...
A. Supplies on hand at year-end are $1,200. Bust-a-Move Snowboard has asked you to make the...
A. Supplies on hand at year-end are $1,200. Bust-a-Move Snowboard has asked you to make the following adjusting journal entries to record the following transactions (A-0): B. Six months of rent ($24,000) was paid in advanced on September 1st. No rent expense has been recorded since that date. C. Depreciation expense has not been recorded on the building for 2018. The building has a useful life of 20 years. Bust-a-Move Snowboard uses straight-line depreciation for all asset classifications. D. Depreciation...
i Data Table Wireless Solution Unadjusted Trial Balance November 30, 2018 Balance Account Title Debit Credit...
i Data Table Wireless Solution Unadjusted Trial Balance November 30, 2018 Balance Account Title Debit Credit Cat Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Common Stock S 3,500 3,800 1,400 4,000 31,700 S 1,100 5,000 35.50a Print Done 1 of 9 (4 complete) i Data Table fo Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Common Stock Divndends Service Revenue Depreciation Expense-Equipment Salaries Expense Rent Expense Utilities Expense 31,700 S 1,100 5,000 35,500 2,300 8,300...
bust a move t account G. Smugglers' Notch (a customer) paid $36,000 in advance on September...
bust a move t account
G. Smugglers' Notch (a customer) paid $36,000 in advance on September 1, 2018 for services to be provided evenly from October 1, 2018 through March 31, 2019. None of the revenue has yet been recorded. H. Management has been made aware that $5,000 of the current accounts receivable is deemed uncollectible. Management has asked that this amount be written off immediately. 1. 1,000 snowboard helmets in the amount of $25,000 were ordered on December 15th...
Adjusted Trial Balance December 31, 2017 TYBALT CONSTRUCTION Balance Sheet December 31. 2017 Account Title Debit...
Adjusted Trial Balance December 31, 2017 TYBALT CONSTRUCTION Balance Sheet December 31. 2017 Account Title Debit Credit No 101 Cash 104 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 233 Unearned professional fees 251 Long-term notes payable 307 Common stock 318 Retained earnings 319 Dividends 401 Professional fees earned 406 Rent earned 407...
i Data Table Irvine Inn Company Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit...
i Data Table Irvine Inn Company Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 15,600 Accounts Receivable 13.900 2.600 Prepaid Insurance 1,700 Office Supplies 410.000 Building Print Done $ 370,000 4,300 Accumulated Depreciation-Building Accounts Payable Salaries Payable Unearned Revenue Common Stock 3,200 53,860 1.800 18.200 Dividends Service Revenue Salaries Expense Insurance Expense Depreciation Expense-Building 3.200 En A -- 3,200 53,860 1,800 18,200 Unearned Revenue Common Stock Dividends Service Revenue Salaries Expense Insurance Expense Depreciation Expense–Building Advertising...
Help!? The unadjusted trial balance of Waverly Anvils at December 31, 2018, and the data for...
Help!?
The unadjusted trial balance of Waverly Anvils at December 31, 2018, and the data for the adjustments follow: (Click the icon to view the unadjusted trial balance.) (clic Read the * Data Table Requirement 1. Prepare the adjusting entries and post to the T-accounts. T-accounts have been opened using Cash $ 5,350 Begin by preparing the adjusting entries. (Record debits first, then credits. Select the explanation on the last lin applicable, use the account names provided in the unadjusted...
Credit $ 30,000 51,000 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 No. Account Title Debit...
Credit $ 30,000 51,000 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 No. Account Title Debit 101 Cash $ 6,000 184 Short-term investments 23,000 126 Supplies 9,280 128 Prepaid insurance 8,300 167 Equipment 60,000 168 Accumulated depreciation-Equipment 173 Building 153,000 174 Accumulated depreciation-Building 183 Land 73,980 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 233 Unearned professional fees 2. Current portion of long term note payable 251 Long-term notes payable 301 O....
Credit ABC Business Services Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit Cash $20.000...
Credit ABC Business Services Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit Cash $20.000 Accounts Receivable 14,000 Equipment 50,000 Accumulated Depreciation - Equipment Accounts Payable Unearned Revenue Common Stock . Retained Earnings Dividends 5,000 Service Revenue Advertising Expense 4,000 Depreciation Expense - Equipment 8,000 Insurance Expense 4,500 Salaries Expense 15.000 Total $120,500 $17.500 10,000 9,000 30,000 5,000 49.000 $120.5.09 Adjustment data at December 31 follows: a. Depreciation for the equipment is $4,000. b. As of December 31, 2018,...
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit...
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit $ 8,400 13,400 5,280 2,400 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 1,400 11,000 4,400 39,680 27,000 $56,480 $56,480 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,280, represents payment on October 31, Year 1, for rent from November 1, Year 1, to April 30, Year 2....
N. No dividends are to be declared for 2018. 0. Management uses the percentage-of-receivables approach for estimating the percent of receivables that will become uncollectible. They have determined that allowance for doubtful accounts should represent 3.5% of the accounts receivable balance, initiating a 1% increase due to the economic circumstances of many of its customers. Adjustment should be made based on the adjusted accounts receivable balance. Note: 2018 Tax rate is 30%. Bust-a-Move Snowboard has asked you to make the...
A. Supplies on hand at year-end are $1,200. Bust-a-Move Snowboard has asked you to make the following adjusting journal entries to record the following transactions (A-0): B. Six months of rent ($24,000) was paid in advanced on September 1st. No rent expense has been recorded since that date. C. Depreciation expense has not been recorded on the building for 2018. The building has a useful life of 20 years. Bust-a-Move Snowboard uses straight-line depreciation for all asset classifications. D. Depreciation...
i Data Table Wireless Solution Unadjusted Trial Balance November 30, 2018 Balance Account Title Debit Credit Cat Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Common Stock S 3,500 3,800 1,400 4,000 31,700 S 1,100 5,000 35.50a Print Done 1 of 9 (4 complete) i Data Table fo Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Common Stock Divndends Service Revenue Depreciation Expense-Equipment Salaries Expense Rent Expense Utilities Expense 31,700 S 1,100 5,000 35,500 2,300 8,300...
bust a move t account
G. Smugglers' Notch (a customer) paid $36,000 in advance on September 1, 2018 for services to be provided evenly from October 1, 2018 through March 31, 2019. None of the revenue has yet been recorded. H. Management has been made aware that $5,000 of the current accounts receivable is deemed uncollectible. Management has asked that this amount be written off immediately. 1. 1,000 snowboard helmets in the amount of $25,000 were ordered on December 15th...
Adjusted Trial Balance December 31, 2017 TYBALT CONSTRUCTION Balance Sheet December 31. 2017 Account Title Debit Credit No 101 Cash 104 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 233 Unearned professional fees 251 Long-term notes payable 307 Common stock 318 Retained earnings 319 Dividends 401 Professional fees earned 406 Rent earned 407...
i Data Table Irvine Inn Company Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 15,600 Accounts Receivable 13.900 2.600 Prepaid Insurance 1,700 Office Supplies 410.000 Building Print Done $ 370,000 4,300 Accumulated Depreciation-Building Accounts Payable Salaries Payable Unearned Revenue Common Stock 3,200 53,860 1.800 18.200 Dividends Service Revenue Salaries Expense Insurance Expense Depreciation Expense-Building 3.200 En A -- 3,200 53,860 1,800 18,200 Unearned Revenue Common Stock Dividends Service Revenue Salaries Expense Insurance Expense Depreciation Expense–Building Advertising...
Help!?
The unadjusted trial balance of Waverly Anvils at December 31, 2018, and the data for the adjustments follow: (Click the icon to view the unadjusted trial balance.) (clic Read the * Data Table Requirement 1. Prepare the adjusting entries and post to the T-accounts. T-accounts have been opened using Cash $ 5,350 Begin by preparing the adjusting entries. (Record debits first, then credits. Select the explanation on the last lin applicable, use the account names provided in the unadjusted...
Credit $ 30,000 51,000 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 No. Account Title Debit 101 Cash $ 6,000 184 Short-term investments 23,000 126 Supplies 9,280 128 Prepaid insurance 8,300 167 Equipment 60,000 168 Accumulated depreciation-Equipment 173 Building 153,000 174 Accumulated depreciation-Building 183 Land 73,980 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 233 Unearned professional fees 2. Current portion of long term note payable 251 Long-term notes payable 301 O....
Credit ABC Business Services Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit Cash $20.000 Accounts Receivable 14,000 Equipment 50,000 Accumulated Depreciation - Equipment Accounts Payable Unearned Revenue Common Stock . Retained Earnings Dividends 5,000 Service Revenue Advertising Expense 4,000 Depreciation Expense - Equipment 8,000 Insurance Expense 4,500 Salaries Expense 15.000 Total $120,500 $17.500 10,000 9,000 30,000 5,000 49.000 $120.5.09 Adjustment data at December 31 follows: a. Depreciation for the equipment is $4,000. b. As of December 31, 2018,...
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit $ 8,400 13,400 5,280 2,400 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 1,400 11,000 4,400 39,680 27,000 $56,480 $56,480 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,280, represents payment on October 31, Year 1, for rent from November 1, Year 1, to April 30, Year 2....
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