Homework Answers
Trial balance
| Account title | Debit | Credit |
| Cash | 1,100 | |
| Accounts receivable | 800 | |
| Capital | 2,000 | |
| Accounts payable | 900 | |
| Service fees earned | 1,000 | |
| Rent expense | 2,000 | |
| Total | $3,900 | $3,900 |
Normal balance of all assets and expenses is debit
Normal balance of all liabilities, revenues and capital is credit.
Correct option is (D)
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Given the following list of accounts with normal balances, what are the trial balance totals of...
The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances....
The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances. Accounts Payable $501 Fees Earned $3,116 Accounts Receivable 651 Insurance Expense 579 Cash 1,825 Kim Monroe, Capital 5,522 Kim Monroe, Drawing 685 Land 2,700 Prepaid Insurance 1,974 Wages Expense 725 When a trial balance is prepared, the total of the debits will be Oa. $9,139 Ob. $2,977 Oc. $1,812 Od: $5,522
Bryan Consultants had the following normal account balances before preparing adjusting entries in the books on...
Bryan Consultants had the following normal account balances before preparing adjusting entries in the books on December 31,2017 Cash $6,000 T. Bryan Withdrawals $3.000 Accounts Receivable 2,000 Service Revenue 10,600 Office Supplies 1,800 Slates Expenses 4.000 Equipment 15,000 Rent Expense 800 Accumulated Depreciation 9,000 Deprecation Expense 1,500 Equipment Equipment T Bryan Capital 15,000 Supplies Expense 500 What are the debit and credit totals in the (unadjusted and adjusted trial balance. In other words. BEFORE AND AFTER the adjusting entries below...
For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit...
For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 Equipment 19,000 19,000 Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 10,000 Wages Payable 2,000 2,000 Common Stock 5,000 5,000 Retained Earnings 8,004 8,004 Dividends 1,000 1,000 Fees Earned 44,669 44,669 Wages Expense 21,425 21,425 Rent Expense 6,067 6,067 Depreciation Expense 4,181 4,181 Totals 75,673 75,673 31,673 44,669 44,000 31,004...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,412 Accounts Receivable 2,853 Prepaid Expenses 686 15,128 Equipment Accumulated Depreciation 4,731 Accounts Payable 1,663 Notes Payable 4,663 Common Stock 1,000 Retained Earnings 12,297 Dividends 740 Fees Earned 6,030 Wages Expense 3,001 Rent Expense 878 Utilities Expense 358 208 Depreciation Expense Miscellaneous Expense 120 Totals 30.384 30.384 Totals 30,384 30,384 Determine the retained earnings ending balance. Oa. $1,465 Ob. $13,297 Oc. $30,384...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 5,997 Accounts Receivable 2,292 771 15,829 2,700 1,559 5,170 1,000 11,350 Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals 822 8,552 2,987 842 445 235 111 30,331 30,331 Determine the total assets. Oa. $30,331 Ob. $24,889 Oc. $22,189 Od. $12,350
Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance...
Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 Equipment 19,000 19,000 Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 10,000 Wages Payable 2,000 2,000 Common Stock 5,000 5,000 Retained Earnings 10,765 10,765 Dividends 1,000 1,000 Fees Earned 42,594 42,594 Wages Expense 20,402 20,402 Rent Expense 6,087 6,087 Depreciation Expense 5,870 5,870 Totals 76,359 76,359...
Using the following information, prepare a trial balance. Assume all asset, dividend, and expense accounts have...
Using the following information, prepare a trial balance. Assume all asset, dividend, and expense accounts have debit balances and all liability, stockholders' equity, and revenue accounts have credit balances. List the accounts in the following order: assets, liabilities, stockholders' equity, dividends, revenues, and expenses. Cash Salaries Payable Prepaid Rent Accounts Payable Retained Earnings Salaries Expense $6,050 600 800 1,950 1,750 2,900 Dividends Rent Expense Accounts Receivable Common Stock Service Revenue Advertising Expense $ 400 1,950 4,300 6,100 7,000 1,000 Trial...
11. Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement...
11.
Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 19,000 Equipment 19,000 Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 Wages Payable 2,000 5,000 10,000 2,000 5,000 6,070 Common Stock Retained Earnings 6,070 Dividends 1,000 1,000 Fees Earned 47,867 47,867 Wages Expense 21,344 21,344 Rent Expense 5,817 5,776 5,817 5,776 Depreciation Expense Totals 76,937...
Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance November...
Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $ 1,700 Accounts Receivable 450 Supplies 550 Equipment 7,900 Accounts Payable $ 1,250 Notes Payable 2,500 Common Stock 5,500 Retained Earnings 1,350 Totals $10,600 $10,600 The following transactions occur in November. November 1 Issue common stock in exchange for $11,500 cash. November 2 Purchase equipment with a long-term note for $2,000 from Spartan Corporation. November 4 Purchase supplies for...
The adjusted trial balance for Pl Detectives reported the following account balances: Accounts Receivable $590; Supplies...
The adjusted trial balance for Pl Detectives reported the following account balances: Accounts Receivable $590; Supplies $9,900; Prepaid Insurance $8,100; Equipment $32,500; Accumulated Depreciation $4,900; Accounts Payable $290; Deferred Revenue $5,900; Notes Payable $3,900; Common Stock $26,500; Retained Earnings $6,600; Dividends $3,900; Service Revenue $38,300; Salaries and Wages Expense $24,500; and Depreciation Expense $1,000. Prepare an adjusted trial balance as of December 31, and solve for its missing Cash balance. PIDETECTIVES Adjusted Trial Balance As of December 31 Debit Credit...
The following accounts appear in the ledger of Monroe Entertainment Co. All accounts have normal balances. Accounts Payable $501 Fees Earned $3,116 Accounts Receivable 651 Insurance Expense 579 Cash 1,825 Kim Monroe, Capital 5,522 Kim Monroe, Drawing 685 Land 2,700 Prepaid Insurance 1,974 Wages Expense 725 When a trial balance is prepared, the total of the debits will be Oa. $9,139 Ob. $2,977 Oc. $1,812 Od: $5,522
Bryan Consultants had the following normal account balances before preparing adjusting entries in the books on December 31,2017 Cash $6,000 T. Bryan Withdrawals $3.000 Accounts Receivable 2,000 Service Revenue 10,600 Office Supplies 1,800 Slates Expenses 4.000 Equipment 15,000 Rent Expense 800 Accumulated Depreciation 9,000 Deprecation Expense 1,500 Equipment Equipment T Bryan Capital 15,000 Supplies Expense 500 What are the debit and credit totals in the (unadjusted and adjusted trial balance. In other words. BEFORE AND AFTER the adjusting entries below...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,412 Accounts Receivable 2,853 Prepaid Expenses 686 15,128 Equipment Accumulated Depreciation 4,731 Accounts Payable 1,663 Notes Payable 4,663 Common Stock 1,000 Retained Earnings 12,297 Dividends 740 Fees Earned 6,030 Wages Expense 3,001 Rent Expense 878 Utilities Expense 358 208 Depreciation Expense Miscellaneous Expense 120 Totals 30.384 30.384 Totals 30,384 30,384 Determine the retained earnings ending balance. Oa. $1,465 Ob. $13,297 Oc. $30,384...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 5,997 Accounts Receivable 2,292 771 15,829 2,700 1,559 5,170 1,000 11,350 Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals 822 8,552 2,987 842 445 235 111 30,331 30,331 Determine the total assets. Oa. $30,331 Ob. $24,889 Oc. $22,189 Od. $12,350
Using the following information, prepare a trial balance. Assume all asset, dividend, and expense accounts have debit balances and all liability, stockholders' equity, and revenue accounts have credit balances. List the accounts in the following order: assets, liabilities, stockholders' equity, dividends, revenues, and expenses. Cash Salaries Payable Prepaid Rent Accounts Payable Retained Earnings Salaries Expense $6,050 600 800 1,950 1,750 2,900 Dividends Rent Expense Accounts Receivable Common Stock Service Revenue Advertising Expense $ 400 1,950 4,300 6,100 7,000 1,000 Trial...
11.
Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 19,000 Equipment 19,000 Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 Wages Payable 2,000 5,000 10,000 2,000 5,000 6,070 Common Stock Retained Earnings 6,070 Dividends 1,000 1,000 Fees Earned 47,867 47,867 Wages Expense 21,344 21,344 Rent Expense 5,817 5,776 5,817 5,776 Depreciation Expense Totals 76,937...
Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $ 1,700 Accounts Receivable 450 Supplies 550 Equipment 7,900 Accounts Payable $ 1,250 Notes Payable 2,500 Common Stock 5,500 Retained Earnings 1,350 Totals $10,600 $10,600 The following transactions occur in November. November 1 Issue common stock in exchange for $11,500 cash. November 2 Purchase equipment with a long-term note for $2,000 from Spartan Corporation. November 4 Purchase supplies for...
The adjusted trial balance for Pl Detectives reported the following account balances: Accounts Receivable $590; Supplies $9,900; Prepaid Insurance $8,100; Equipment $32,500; Accumulated Depreciation $4,900; Accounts Payable $290; Deferred Revenue $5,900; Notes Payable $3,900; Common Stock $26,500; Retained Earnings $6,600; Dividends $3,900; Service Revenue $38,300; Salaries and Wages Expense $24,500; and Depreciation Expense $1,000. Prepare an adjusted trial balance as of December 31, and solve for its missing Cash balance. PIDETECTIVES Adjusted Trial Balance As of December 31 Debit Credit...
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