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Problems Problem 4-1 Malcolm Tryon In Care Agency had the following trial balance as of December 31, 20XX Malcolm Tryon In Care Agency Trial Balance December 31, 20XX Cash (101) 18,150 Accounts Receivable (102) 13,000 Medical Supplies (104) 20.000 Prepaid Insurance (111) 5.000 Medical Equipment (120) 40.000 Medical Van (130) 30,000 Accounts Payable (201) 50,000 M. Tryon, Capital (301) 35,000 M. Tryon, Withdrawals (302) 550 Service Revenue (401) 69,000 Salaries Expense (507) 25,000 Medical Van Expense (513) 1,500 Utilities Expense...
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+ E A Read aloud | V Draw V Highlight PALM TRAVEL AGENCY TRIAL BALANCE DECEMBER 31, 2017 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Accounts Payable Interest Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Retained Earings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expenses Depreciation Expense Supplies Expense Rent Expense Unadjusted Debit Credit $16,500 6,500 3.600 2,000 30,000 $12,000 10,000 2,600 0 0 1,100 1,000 13,800 46,100 26.000 0...
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The trial balance of Palicio Security Services Inc. as of January 1, 2016 had following normal balances: Account Adlust Income Statement DR CR Balance Sheet DR CR Trial Balance Adjustments Adjusted Trial Balance DR CRDR CRDR CR 74 210 13,500 200 3,200 4.000 6,620 Cash Accounts Receivable Supplies Prepaid Rent Land Merchandise Inventory (24 @ $265; 1 @ $260) Accounts Payable Unearned revenue Salaries Payable Common Stock Retained Earnings Wages Expense Totals 1.950 980 1.000 50,000 47,800 101,730 101,730 The...
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On December 31, 2018 the adjusted trial balance of the Yellin Personnel Agency shows the following selected data: Accounts Receivable, $8,000 Service Revenue, $60,000 Interest Expense, $10,500 Interest Payable, $3,500 Utilities Expense, $4,800 Accounts Payable, $2,700 Analysis indicates that adjusting entries were made for (a) $8,000 of employment commission revenue earned but not billed, (b) $3,500 of accrued but unpaid interest, and (c) $2,700 of utilities expense accrued but not paid. Prepare the closing entries at December 31, 2018. (Credit...
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Trial Balance Napa Tours Co. is a travel agency. The nine
transactions recorded by Napa Tours during April 2018, its first
month of operations, are indicated in the following T accounts:
Cash
Equipment
Dividends
(1) 23,200
(2) 1,600
(3) 16,700
(9) 2,300
(7) 9,300
(3) 3,000
(4) 2,550
(6) 6,950
(9) 2,300
Accounts Receivable
Accounts Payable
Service Revenue
(5) 12,550
(7) 9,300
(6) 6,950
(3) 13,700
(5) 12,550
Supplies
Common Stock
Operating Expenses
(2) 1,600
(8) 950
(1) 23,200
(4)...
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Account Balance Sheet Income Statement DR Adjusted Trial Balance Adjustments Trial Balance DR CRT OR CRDR CRI 74,210 13,500 200 3.200 4,000 6,620 Cash Accounts Receivable Supplies Prepaid Rent Land Merchandise Inventory (24 @ $265; 1 $260) Accounts Payable Unearned revenue Salaries Payable Common Stock Retained Earnings Wages Expense Totals 1.950 980 1,000 50.000 47.800 101,730101,730 The following transactions took place during 2016 for Palicio Security Service 1. Paid the salaries payable from 2015. 1000 2. On March 1, 2016,...
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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,...
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The adjusted trial balance at October 31, 2018 is presented below for Van Houten Ltd VAN HOUTEN LTD Trial Balance October 31, 2018 Debit Credit Cash Accounts receivable Prepaid insurance Supplies Equipment Accumulated depreciation-equipment Building Accumulated depreciation-building Accounts payable Credit Card payable Bank loan payable Common shares Retained earnings (before Net Income) Service revenue Salaries expense Rent expense Insurance expense Utilities expense Travel expense Legal expense Interest expense Courier expense 5,200 70,100 19,100 2,150 34,000 1,700 81,785 8,179 39,200 42,600...
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Problem 3: Zubair Oil and Gas Company has the following unadjusted trial balance at 31 December 2015. Zubair Oil and Gas Company Unadjusted Trial Balance 31" December 2018 Accounts Debit (OMR) Credit (OMR) Utilities Expenses Supplies 2.400 Capital 300,000 Cash 386,800 Miscellaneous Expenses 2.400 Prepaid Insurance 7,600 Uneamed Revenue 10440 Salaries Expenses 199,000 Account Receivable 28.000 Office Furniture 20.000 Accumulated Depreciation on Onice Furniture 5.000 Bank Overdraft 5.800 Account Payable 4.000 Building 68.000 Notes Payable 16,760 Retained Earnings 170.000 Dividends...
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Exercise 4-19 a-e On December 31, the adjusted trial balance of Culver Employment Agency shows the following selected data. Accounts Receivable Interest Expense $24,900 7,800 Service Revenue Interest Payable $91,500 2,900 Analysis shows that adjusting entries were made to (1) accrue $6,000 of service revenue and (2) accrue $2,900 interest expense. Prepare the closing entries for the temporary accounts shown above at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal...
Problems Problem 4-1 Malcolm Tryon In Care Agency had the following trial balance as of December 31, 20XX Malcolm Tryon In Care Agency Trial Balance December 31, 20XX Cash (101) 18,150 Accounts Receivable (102) 13,000 Medical Supplies (104) 20.000 Prepaid Insurance (111) 5.000 Medical Equipment (120) 40.000 Medical Van (130) 30,000 Accounts Payable (201) 50,000 M. Tryon, Capital (301) 35,000 M. Tryon, Withdrawals (302) 550 Service Revenue (401) 69,000 Salaries Expense (507) 25,000 Medical Van Expense (513) 1,500 Utilities Expense...
+ E A Read aloud | V Draw V Highlight PALM TRAVEL AGENCY TRIAL BALANCE DECEMBER 31, 2017 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Accounts Payable Interest Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Retained Earings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expenses Depreciation Expense Supplies Expense Rent Expense Unadjusted Debit Credit $16,500 6,500 3.600 2,000 30,000 $12,000 10,000 2,600 0 0 1,100 1,000 13,800 46,100 26.000 0...
The trial balance of Palicio Security Services Inc. as of January 1, 2016 had following normal balances: Account Adlust Income Statement DR CR Balance Sheet DR CR Trial Balance Adjustments Adjusted Trial Balance DR CRDR CRDR CR 74 210 13,500 200 3,200 4.000 6,620 Cash Accounts Receivable Supplies Prepaid Rent Land Merchandise Inventory (24 @ $265; 1 @ $260) Accounts Payable Unearned revenue Salaries Payable Common Stock Retained Earnings Wages Expense Totals 1.950 980 1.000 50,000 47,800 101,730 101,730 The...
On December 31, 2018 the adjusted trial balance of the Yellin Personnel Agency shows the following selected data: Accounts Receivable, $8,000 Service Revenue, $60,000 Interest Expense, $10,500 Interest Payable, $3,500 Utilities Expense, $4,800 Accounts Payable, $2,700 Analysis indicates that adjusting entries were made for (a) $8,000 of employment commission revenue earned but not billed, (b) $3,500 of accrued but unpaid interest, and (c) $2,700 of utilities expense accrued but not paid. Prepare the closing entries at December 31, 2018. (Credit...
Account Balance Sheet Income Statement DR Adjusted Trial Balance Adjustments Trial Balance DR CRT OR CRDR CRI 74,210 13,500 200 3.200 4,000 6,620 Cash Accounts Receivable Supplies Prepaid Rent Land Merchandise Inventory (24 @ $265; 1 $260) Accounts Payable Unearned revenue Salaries Payable Common Stock Retained Earnings Wages Expense Totals 1.950 980 1,000 50.000 47.800 101,730101,730 The following transactions took place during 2016 for Palicio Security Service 1. Paid the salaries payable from 2015. 1000 2. On March 1, 2016,...
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 adjusted trial balance at October 31, 2018 is presented below for Van Houten Ltd VAN HOUTEN LTD Trial Balance October 31, 2018 Debit Credit Cash Accounts receivable Prepaid insurance Supplies Equipment Accumulated depreciation-equipment Building Accumulated depreciation-building Accounts payable Credit Card payable Bank loan payable Common shares Retained earnings (before Net Income) Service revenue Salaries expense Rent expense Insurance expense Utilities expense Travel expense Legal expense Interest expense Courier expense 5,200 70,100 19,100 2,150 34,000 1,700 81,785 8,179 39,200 42,600...
Problem 3: Zubair Oil and Gas Company has the following unadjusted trial balance at 31 December 2015. Zubair Oil and Gas Company Unadjusted Trial Balance 31" December 2018 Accounts Debit (OMR) Credit (OMR) Utilities Expenses Supplies 2.400 Capital 300,000 Cash 386,800 Miscellaneous Expenses 2.400 Prepaid Insurance 7,600 Uneamed Revenue 10440 Salaries Expenses 199,000 Account Receivable 28.000 Office Furniture 20.000 Accumulated Depreciation on Onice Furniture 5.000 Bank Overdraft 5.800 Account Payable 4.000 Building 68.000 Notes Payable 16,760 Retained Earnings 170.000 Dividends...
Exercise 4-19 a-e On December 31, the adjusted trial balance of Culver Employment Agency shows the following selected data. Accounts Receivable Interest Expense $24,900 7,800 Service Revenue Interest Payable $91,500 2,900 Analysis shows that adjusting entries were made to (1) accrue $6,000 of service revenue and (2) accrue $2,900 interest expense. Prepare the closing entries for the temporary accounts shown above at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal...