Homework Answers
Answer -
Closing Journal Entries
| Date | Account Titles and Explanation | Debit ($) | Credit ($) |
| July 31 |
Service Revenue [Given in question] Rent Revenue [Given in question] Income Summary (To close revenue accounts) |
63000 6000 - |
- - 69000 |
| July 31 |
Income Summary Depreciation Expense [Given in question] Salaries and Wages Expense [Given in question] Utilities Expense [Given in question] (To close expense accounts) |
76700 - - - |
- 6500 55700 14500 |
| July 31 |
Owner's Capital [$76700 - $69000] Income Summary (To close net income / (loss)) |
7700 - |
- 7700 |
| July 31 |
Owner's Capital Owner's Drawings [Given in question] (To close owner's drawings) |
15500 - |
- 15500 |
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prepare the closing entries
Blossom Company ended its fiscal year on July 31, 2020. The company's...
Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as...
Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Credit Debit $8,000 8,500 15,500 Blossom Company Adjusted Trial Balance July 31, 2020 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732...
list of accounts Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted...
list of accounts
Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Blossom Company Adjusted Trial Balance July 31, 2020 Account Titles No. Debit Credit $8,000 9,000 16,200 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense Salaries and Wages...
Plevin Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as...
Plevin Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,840 8,780 15,900 Plevin Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense...
Pronghorn Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as...
Pronghorn Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. 112 Pronghorn Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $8,550 Accounts 8,500 Receivable 157 Equipment 15,900 Accumulated 158 Depreciation- $7,300 Equip. 201 Accounts Payable 4,050 208. Unearned Rent 2,400 Revenue 311 Common Stock 17,800 320 Retained Earnings 26,000 332 Dividends 16,500 400 Service Revenue 65,000 429 Rent...
CES Question 1 Cullumber Company ended its fiscal year on July 31, 2020. The company's adjusted...
CES Question 1 Cullumber Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Cullumber Company Adjusted Trial Balance July 31, 2020 tudy NO. Account Titles Credit Debit $8,300 9,000 15,800 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Uneamed Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries...
balance as of the end of its fiscal year is shown below. E4-8 Okabe Company ended...
balance as of the end of its fiscal year is shown below. E4-8 Okabe Company ended its fiscal year on July 31, 2017. The company's adjusted trial (b) Prepare a post-closing trial balance. Hosing post- OKABE COMPANY Adjusted Trial Balance July 31, 2017 Credit Debit No. Account Titles 101 Cash $ 9,840 112 Accounts Receivable 8,780 157 Equipment 15,900 $ 7,400 158 Accumulated Depreciation-Equip. 201 Accounts Payable i4,220 1,800 208 Unearned Rent Revenue 301 Owner's Capital 45,200 306 Owner's Drawings...
Practice Exercise 1 (Part Level Submission) Culver Company ended its fiscal year on July 31, 2019....
Practice Exercise 1 (Part Level Submission) Culver Company ended its fiscal year on July 31, 2019. The company’s adjusted trial balance as of the end of its fiscal year is shown below. Culver Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $9,000 112 Accounts Receivable 8,600 157 Equipment 15,500 158 Accumulated Depreciation—Equip. $7,300 201 Accounts Payable 4,700 208 Unearned Rent Revenue 1,700 311 Common Stock 17,300 320 Retained Earnings 25,500 332 Dividends 15,500 400...
Exercise 4-09 a1,a2-b Carla Vista Company ended its fiscal year on July 31, 2020. The company's...
Exercise 4-09 a1,a2-b Carla Vista Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Credit Carla Vista Company Adjusted Trial Balance July 31, 2020 Account Titles Debit 101 Cash $10,600 112 Accounts Receivable 8,900 157 Equipment 15,700 158 Accumulated Depreciation Equip 201 Accounts Payable 200 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 16,000 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense...
Sarasota Company ended its fiscal year on July 31, 2019. The company’s adjusted trial balance as of the end of its fiscal year is shown below.
Exercise 4-08 a-c (Video)Sarasota Company ended its fiscal year on July 31, 2019. The company’s adjusted trial balance as of the end of its fiscal year is shown below.Sarasota CompanyAdjusted Trial BalanceJuly 31, 2019No.Account TitlesDebitCredit101Cash$8,700112Accounts Receivable9,400157Equipment16,100158Accumulated Depreciation—Equip.$7,600201Accounts Payable4,100208Unearned Rent Revenue1,700311Common Stock18,200320Retained Earnings25,600332Dividends16,500400Service Revenue65,000429Rent Revenue6,000711Depreciation Expense6,600726Salaries and Wages Expense55,900732Utilities Expense15,000$128,200$128,200Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)DateAccount Titles and ExplanationDebitCreditJuly 31(To close revenue accounts)July 31(To close expense accounts)July 31(To close net income...
please help Flint Company ended its fiscal year on July 31, 2019. The company's adjusted trial...
please help
Flint Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,850 8,500 15,800 Flint Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 111 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries...
Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Credit Debit $8,000 8,500 15,500 Blossom Company Adjusted Trial Balance July 31, 2020 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732...
list of accounts
Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Blossom Company Adjusted Trial Balance July 31, 2020 Account Titles No. Debit Credit $8,000 9,000 16,200 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense Salaries and Wages...
Plevin Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,840 8,780 15,900 Plevin Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense...
Pronghorn Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. 112 Pronghorn Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $8,550 Accounts 8,500 Receivable 157 Equipment 15,900 Accumulated 158 Depreciation- $7,300 Equip. 201 Accounts Payable 4,050 208. Unearned Rent 2,400 Revenue 311 Common Stock 17,800 320 Retained Earnings 26,000 332 Dividends 16,500 400 Service Revenue 65,000 429 Rent...
CES Question 1 Cullumber Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Cullumber Company Adjusted Trial Balance July 31, 2020 tudy NO. Account Titles Credit Debit $8,300 9,000 15,800 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Uneamed Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries...
balance as of the end of its fiscal year is shown below. E4-8 Okabe Company ended its fiscal year on July 31, 2017. The company's adjusted trial (b) Prepare a post-closing trial balance. Hosing post- OKABE COMPANY Adjusted Trial Balance July 31, 2017 Credit Debit No. Account Titles 101 Cash $ 9,840 112 Accounts Receivable 8,780 157 Equipment 15,900 $ 7,400 158 Accumulated Depreciation-Equip. 201 Accounts Payable i4,220 1,800 208 Unearned Rent Revenue 301 Owner's Capital 45,200 306 Owner's Drawings...
Exercise 4-09 a1,a2-b Carla Vista Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Credit Carla Vista Company Adjusted Trial Balance July 31, 2020 Account Titles Debit 101 Cash $10,600 112 Accounts Receivable 8,900 157 Equipment 15,700 158 Accumulated Depreciation Equip 201 Accounts Payable 200 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 16,000 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense...
please help
Flint Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,850 8,500 15,800 Flint Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 111 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries...
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