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P3-8A Financial Statements and Closing Entries The adjusted
trial balance shown below is for Sharpe Consulting Service as of
December 31. Bryan Sharpe made no capital contributions during the
year. Please see attached picture for further details. Need
guidance for answering questions in excel. Thank you.
Cambridge Business Publishers Chapter 3 Accrual Basis of Accounting 1 Cash............. Accounts receivable... Supplies ... Prepaid insurance. ...... Equipment ............ Accumulated depreciation Equipment Accounts payable...... Long-term notes payable .. Common stock .... Retained earnings...
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Financial Statements and Closing Entries The adjusted trial balance shown below is for Fine Consulting Service as of December 31. Byran Sharpe made no capital contributions during the year. SHARPE CONSULTING SERVICE Adjusted Trial Balance December 31 Debit Credit Cash $2,900 Accounts Receivable 3,270 Supplies 5,060 Prepaid Insurance 1,500 Equipment 6,400 Accum. Depr. - Equipment $1,080 Accounts Payable 845 Long - Term Notes Payable 7,200 Common Stock 2,800 Retained Earnings 5,205 Dividends 2,900 Service Fees Earned 62,600 Rent Expense 15,500...
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Shown below is Adventure Travel's adjusted trial balance as of the end of its annual accounting period: Adventure Travel Adjusted Trial Balance Cr. Dr. $ 25,000 15,000 4,300 29,600 $ 5,000 25,000 30,260 1,000 75,000 Cash............ Accounts receivable........... Office supplies....... Office equipment......... Accumulated depreciation Office equipment........ Long-term notes payable ..... Brady, Capital............. Brady, Withdrawals..... Foes carned............ Salaries expense........... Rent expense.... Depreciation expense-Office equipment.......... Advertising expense..... Office supplies expense.... Totals....... 32,800 16,800 3,960 4,000 2,800 S135260 $125.260 (a) Prepare the necessary...
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Problem 1. Closing Entries (16 points) from the adjusted trial balance for Fabricated necessary closing entries. Fabricated Products Company given below, prepare the Fabricated Products Company Adjusted Trial Balance December 31, 2017 Credit Debit $19,400 25,000 26,000 1,900 84,000 $22.000 40,000 15,000 12,000 40,000 Cash Accounts receivable Merchandise inventory Office supplies Store equipment Accumulated depreciation-store equipment Office equipment 1 Accumulated depreciation office equipment Accounts payable Notes payable P. Card, Capital P. Card, Withdrawals Sales Sales discounts Sales returns and allowances...
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Closing Entries
Wilson Consulting Company prepares the following Adjusted Trial
Balance at the end of 2018.
Using the information from the adjusted trial balance, prepare
the closing entries and submit it to this homework assignment.
Wilson Consulting Company
Adjusted Trial Balance
31-Dec-18
Account Name Debit Credit
Cash 7500
Accounts Receivable 3500
Prepaid Building Rent 1300
Unexpired insurance 3500
Supplies 175
Equipment 8000
Accumulated Deprecation Equipment 3500
Noyes payable 4000
Salaries payable 1550
Income taxes payable 2750
Unearned service revenue...
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Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance (LO 4-3, LO 4-5] (The following information applies to the questions displayed below.) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) office Expenses Rent Expense Retained Earnings Salaries...
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Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018, The accounts have normal debitor credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expenso Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and...
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Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018 The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries...
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Question 3 (10%) The adjusted trial balance shown below is for Big Company at the end of its fiscal year. BIG COMPANY Trial Balance March 31, 2017 ebit 12,900 9,400 700 Cash Accounts Receivable Supplies Prepaid Insurance. Equipment Accumulated Depreciation-Equipment. Accounts Payable Salaries and Wages Payable.... Unearned Rent Revenue Common Stock 2,500 16,000 $ 4,800 5,800 1,100 600 15,000 5,600 Retained Earnings. Dividends.. Service Revenue Rent Revenue 34,600 14,400 Salaries and Wages Expense Supplies Expense Rent Expense.. 18,100 1,800 12,000...
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1. Journalize and post the closing entries
TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET ACCOUNT TITLES DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Debit CREDIT Debit CREDIT Cash 4317 4317 4317 Accounts Recelvable Merchandise Inventory Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable 3165 3165 3165 2376 2276 100 2276 405 405 405 7000 7000 7000 84 2084 2000 2084 850 2100 850 850 Wages Payable Note Payable Capital Drawing Sales Sales Returns Sales Discounts Cost of Merchandise Sold 2100...
P3-8A Financial Statements and Closing Entries The adjusted
trial balance shown below is for Sharpe Consulting Service as of
December 31. Bryan Sharpe made no capital contributions during the
year. Please see attached picture for further details. Need
guidance for answering questions in excel. Thank you.
Cambridge Business Publishers Chapter 3 Accrual Basis of Accounting 1 Cash............. Accounts receivable... Supplies ... Prepaid insurance. ...... Equipment ............ Accumulated depreciation Equipment Accounts payable...... Long-term notes payable .. Common stock .... Retained earnings...
Financial Statements and Closing Entries The adjusted trial balance shown below is for Fine Consulting Service as of December 31. Byran Sharpe made no capital contributions during the year. SHARPE CONSULTING SERVICE Adjusted Trial Balance December 31 Debit Credit Cash $2,900 Accounts Receivable 3,270 Supplies 5,060 Prepaid Insurance 1,500 Equipment 6,400 Accum. Depr. - Equipment $1,080 Accounts Payable 845 Long - Term Notes Payable 7,200 Common Stock 2,800 Retained Earnings 5,205 Dividends 2,900 Service Fees Earned 62,600 Rent Expense 15,500...
Shown below is Adventure Travel's adjusted trial balance as of the end of its annual accounting period: Adventure Travel Adjusted Trial Balance Cr. Dr. $ 25,000 15,000 4,300 29,600 $ 5,000 25,000 30,260 1,000 75,000 Cash............ Accounts receivable........... Office supplies....... Office equipment......... Accumulated depreciation Office equipment........ Long-term notes payable ..... Brady, Capital............. Brady, Withdrawals..... Foes carned............ Salaries expense........... Rent expense.... Depreciation expense-Office equipment.......... Advertising expense..... Office supplies expense.... Totals....... 32,800 16,800 3,960 4,000 2,800 S135260 $125.260 (a) Prepare the necessary...
Problem 1. Closing Entries (16 points) from the adjusted trial balance for Fabricated necessary closing entries. Fabricated Products Company given below, prepare the Fabricated Products Company Adjusted Trial Balance December 31, 2017 Credit Debit $19,400 25,000 26,000 1,900 84,000 $22.000 40,000 15,000 12,000 40,000 Cash Accounts receivable Merchandise inventory Office supplies Store equipment Accumulated depreciation-store equipment Office equipment 1 Accumulated depreciation office equipment Accounts payable Notes payable P. Card, Capital P. Card, Withdrawals Sales Sales discounts Sales returns and allowances...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance (LO 4-3, LO 4-5] (The following information applies to the questions displayed below.) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) office Expenses Rent Expense Retained Earnings Salaries...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018, The accounts have normal debitor credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expenso Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018 The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries...
Question 3 (10%) The adjusted trial balance shown below is for Big Company at the end of its fiscal year. BIG COMPANY Trial Balance March 31, 2017 ebit 12,900 9,400 700 Cash Accounts Receivable Supplies Prepaid Insurance. Equipment Accumulated Depreciation-Equipment. Accounts Payable Salaries and Wages Payable.... Unearned Rent Revenue Common Stock 2,500 16,000 $ 4,800 5,800 1,100 600 15,000 5,600 Retained Earnings. Dividends.. Service Revenue Rent Revenue 34,600 14,400 Salaries and Wages Expense Supplies Expense Rent Expense.. 18,100 1,800 12,000...
1. Journalize and post the closing entries
TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET ACCOUNT TITLES DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Debit CREDIT Debit CREDIT Cash 4317 4317 4317 Accounts Recelvable Merchandise Inventory Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable 3165 3165 3165 2376 2276 100 2276 405 405 405 7000 7000 7000 84 2084 2000 2084 850 2100 850 850 Wages Payable Note Payable Capital Drawing Sales Sales Returns Sales Discounts Cost of Merchandise Sold 2100...