Homework Answers
a) Dividend account balance = $0
b) Ending retained earnings = 23200+41200-16200 = 48200
c) Amount transferred to retained earnings in the third closing entry
| Service revenue | 57400 |
| Rent revenue | 5200 |
| Depreciation expense | -6800 |
| Utilities expense | -9500 |
| Supplies expense | -5100 |
| Net income | 41200 |
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Rivera Company had the following adjusted trial balance: Account Titles Debit Credit Cash $27,110 Accounts Receivable...
Hill Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable $21,780...
Hill Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable $21,780 17,190 7,710 Supplies 39,800 Equipment Accumulated Depreciation Accounts Payable $9,900 Deferred Rent Revenue Capital Stock 3,700 2,260 19,720 21,400 Retained Earnings Dividends 13,300 Commission Revenue 59,300 Rent Revenue 6,100 Depreciation Expense Utilities Expense 7,800 9,300 5,500 Supplies Expense Total $122,380 $122,380 The president of Hill Company has asked you to close the books (prepare and process the closing entries). Required: After the closing process...
Murphy Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable Supplies...
Murphy Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable Supplies $22,630 17,720 9,150 41,700 Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock $8,800 4,310 1,500 35,590 21,600 Retained Earnings Dividends 14,000 Commission Revenue Rent Revenue Depreciation Expense Utilities Expense Supplies Expense Total 45,900 6,400 5,400 7,900 5,600 $124,100 S124,100 The president of Murphy Company has asked you to close the books (prepare and process the closi Required: Rent Revenue Depreciation Expense Utilities...
Thomas Company had the following adjusted trial balance: Account Titles Credit Cash Accounts Receivable Debit $22,790...
Thomas Company had the following adjusted trial balance: Account Titles Credit Cash Accounts Receivable Debit $22,790 19,830 7.540 36,300 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue $9,800 3,780 2,020 24,060 24,800 Capital Stock Retained Earnings Dividends 16,000 Commission Revenue 52,600 6,000 Rent Revenue Depreciation Expense Utilities Expense Supplies Expense 6,300 9,300 5,000 S123,060 Total $123,060 The president of Thomas Company has asked you to close the books (prepare and process the closing entries). After the closing process has...
Powell Company had the following adjusted trial balance: Account Titles Credit Cash Debit $20.390 17.800 Accounts...
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Morgan Company had the following adjusted trial balance: Debit Credit Account Titles Cash Accounts Receivable 15,570...
Morgan Company had the following adjusted trial balance: Debit Credit Account Titles Cash Accounts Receivable 15,570 8,970 6,950 49,350 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue 7,600 4,850 1,690 24,900 22,800 Capital Stock Retained Earnings 13,200 Dividends Commission Revenue Rent Revenue Depreciation Expense 45,400 6,500 Utilities Expense 3,500 10,200 6,000 113,740 Supplies Expense Total 113,740 Required: Prepare the second closing entry to close the expense accounts to Income Summary
Morgan Company had the following adjusted trial balance: Account Titles Cash Credit Accounts Receivable Debit 15,570...
Morgan Company had the following adjusted trial balance: Account Titles Cash Credit Accounts Receivable Debit 15,570 8,970 6,950 49,350 Supplies Equipment Accumulated Depreciation 7,600 4,850 Accounts Payable Deferred Rent Revenue Capital Stock 1,690 24,900 22,800 Retained Earnings Dividends 13,200 Commission Revenue 45,400 6,500 Rent Revenue Depreciation Expense Utilities Expense 3,500 10,200 6,000 113,740 Supplies Expense Total 113,740 Required: Prepare the second closing entry to close the expense accounts to Income Summary to montt |
Knowledge Check Question 10 Griffin Company had the following adjusted trial balance: Account Titles Debit Credit...
Knowledge Check Question 10 Griffin Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable S20,790 15,940 9,370 40,500 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue S8,800 4.290 2,490 21,520 22,400 13,400 54,200 6,600 Rent Revenue Depreciation Expense Utilities Expense 6,900 8.200 5,200 S120,300 Supplies Expense Total S120,300 I Don't Know Submit e here to search BI Question 10 Supplies Expense Total 5,200 S120,300 $120,300 The president...
Ayayai Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $10,800...
Ayayai Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $10,800 112 Accounts Receivable 8,800 157 Equipment 16,000 158 Accumulated Depreciation-Equip. $7.200 201 Accounts Payable 4,400 208 Unearned Rent Revenue 2.400 311 Common Stock 19,900 320 Retained Earnings 26,000 332 Dividends 16,300 400 Service Revenue 64,100 429 Rent Revenue 6,400 711 Depreciation Expense 7,600 726 Salaries and Wages Expense 55,800 732 Utilities Expense 15,100 $130,400 $130,400 Post to the Retained Earnings and Income Summary accounts....
Trial balance Account Titles Debit Credit Cash $ 95,430 Accounts Receivable $ 6,000 Prepaid Rent $ &n
Trial balance
Account Titles
Debit
Credit
Cash
$
95,430
Accounts Receivable
$
6,000
Prepaid Rent
$
25,000
Prepaid Insurance
$
2,700
Prepaid Supplies
$
120
Equipment
$ 400,000
Accumulated Depreciation
$
3,250
Accounts Payable
$
970
Accrued Interest
$
1,400
Accrued Salaries
$
550
Unearned Rental Revenue
$
1,950
Notes Payable
$ 350,000
Capital Stock-Mike
$
80,000
Capital Stock-Julie
$
80,000
Dividend
$
4,000
Retained Earnings
$
-
Rental Revenue
$
46,100
Salaries Expense
$
19,950
Rent Expense
$
5,000...
Hinton Company Adjusted Trial Balance At December 31 Account Debit Credit $ Cash Accounts Receivable 19,331.600...
Hinton Company Adjusted Trial Balance At December 31 Account Debit Credit $ Cash Accounts Receivable 19,331.600 2,990,000 530,000 23.400 3,000,000 $ 150.000 930.000 58,400 230.000 33,000 970.000 21,600,000 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Uneamed Service Revenue Wages Payable Interest Payable Notes Payable Common Stock Dividends Service Revenue Wage Expense Utilities Expense Selling Expense Administrative Expense Repairs Expense insurance Expense Interest Expense Supplies Expense Depreciation Expense--Equipment 45.000 3,754,000 730.400 96.100 45.100 130,000 37.000 19.800 40.000 557.000 150,000 $...
Hill Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable $21,780 17,190 7,710 Supplies 39,800 Equipment Accumulated Depreciation Accounts Payable $9,900 Deferred Rent Revenue Capital Stock 3,700 2,260 19,720 21,400 Retained Earnings Dividends 13,300 Commission Revenue 59,300 Rent Revenue 6,100 Depreciation Expense Utilities Expense 7,800 9,300 5,500 Supplies Expense Total $122,380 $122,380 The president of Hill Company has asked you to close the books (prepare and process the closing entries). Required: After the closing process...
Murphy Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable Supplies $22,630 17,720 9,150 41,700 Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock $8,800 4,310 1,500 35,590 21,600 Retained Earnings Dividends 14,000 Commission Revenue Rent Revenue Depreciation Expense Utilities Expense Supplies Expense Total 45,900 6,400 5,400 7,900 5,600 $124,100 S124,100 The president of Murphy Company has asked you to close the books (prepare and process the closi Required: Rent Revenue Depreciation Expense Utilities...
Thomas Company had the following adjusted trial balance: Account Titles Credit Cash Accounts Receivable Debit $22,790 19,830 7.540 36,300 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue $9,800 3,780 2,020 24,060 24,800 Capital Stock Retained Earnings Dividends 16,000 Commission Revenue 52,600 6,000 Rent Revenue Depreciation Expense Utilities Expense Supplies Expense 6,300 9,300 5,000 S123,060 Total $123,060 The president of Thomas Company has asked you to close the books (prepare and process the closing entries). After the closing process has...
Powell Company had the following adjusted trial balance: Account Titles Credit Cash Debit $20.390 17.800 Accounts Receivable Supplies 7,690 44,900 Equipment $ 7,100 Accumulated Depreciation Accounts Payable Deferred Rent Revenue 4,000 1,950 36,630 21,900 Capital Stock Retained Earnings Dividends 16,000 Commission Revenue 50,400 5,200 Rent Revenue 6,100 Depreciation Expense Utilities Expense 9.200 Supplies Expense 5,100 Total $127,180 S127.180 The president of Powell Company has asked you to close the books (prepare and process the The president of Powell Company has...
Morgan Company had the following adjusted trial balance: Debit Credit Account Titles Cash Accounts Receivable 15,570 8,970 6,950 49,350 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue 7,600 4,850 1,690 24,900 22,800 Capital Stock Retained Earnings 13,200 Dividends Commission Revenue Rent Revenue Depreciation Expense 45,400 6,500 Utilities Expense 3,500 10,200 6,000 113,740 Supplies Expense Total 113,740 Required: Prepare the second closing entry to close the expense accounts to Income Summary
Morgan Company had the following adjusted trial balance: Account Titles Cash Credit Accounts Receivable Debit 15,570 8,970 6,950 49,350 Supplies Equipment Accumulated Depreciation 7,600 4,850 Accounts Payable Deferred Rent Revenue Capital Stock 1,690 24,900 22,800 Retained Earnings Dividends 13,200 Commission Revenue 45,400 6,500 Rent Revenue Depreciation Expense Utilities Expense 3,500 10,200 6,000 113,740 Supplies Expense Total 113,740 Required: Prepare the second closing entry to close the expense accounts to Income Summary to montt |
Knowledge Check Question 10 Griffin Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable S20,790 15,940 9,370 40,500 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue S8,800 4.290 2,490 21,520 22,400 13,400 54,200 6,600 Rent Revenue Depreciation Expense Utilities Expense 6,900 8.200 5,200 S120,300 Supplies Expense Total S120,300 I Don't Know Submit e here to search BI Question 10 Supplies Expense Total 5,200 S120,300 $120,300 The president...
Ayayai Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $10,800 112 Accounts Receivable 8,800 157 Equipment 16,000 158 Accumulated Depreciation-Equip. $7.200 201 Accounts Payable 4,400 208 Unearned Rent Revenue 2.400 311 Common Stock 19,900 320 Retained Earnings 26,000 332 Dividends 16,300 400 Service Revenue 64,100 429 Rent Revenue 6,400 711 Depreciation Expense 7,600 726 Salaries and Wages Expense 55,800 732 Utilities Expense 15,100 $130,400 $130,400 Post to the Retained Earnings and Income Summary accounts....
Trial balance
Account Titles
Debit
Credit
Cash
$
95,430
Accounts Receivable
$
6,000
Prepaid Rent
$
25,000
Prepaid Insurance
$
2,700
Prepaid Supplies
$
120
Equipment
$ 400,000
Accumulated Depreciation
$
3,250
Accounts Payable
$
970
Accrued Interest
$
1,400
Accrued Salaries
$
550
Unearned Rental Revenue
$
1,950
Notes Payable
$ 350,000
Capital Stock-Mike
$
80,000
Capital Stock-Julie
$
80,000
Dividend
$
4,000
Retained Earnings
$
-
Rental Revenue
$
46,100
Salaries Expense
$
19,950
Rent Expense
$
5,000...
Hinton Company Adjusted Trial Balance At December 31 Account Debit Credit $ Cash Accounts Receivable 19,331.600 2,990,000 530,000 23.400 3,000,000 $ 150.000 930.000 58,400 230.000 33,000 970.000 21,600,000 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Uneamed Service Revenue Wages Payable Interest Payable Notes Payable Common Stock Dividends Service Revenue Wage Expense Utilities Expense Selling Expense Administrative Expense Repairs Expense insurance Expense Interest Expense Supplies Expense Depreciation Expense--Equipment 45.000 3,754,000 730.400 96.100 45.100 130,000 37.000 19.800 40.000 557.000 150,000 $...
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