Homework Answers
1.
| Date | Accounts | Debit | Credit |
| Nov 30 | Service revenue | $98,000 | |
| Interest revenue | 1,100 | ||
| Income summary | $99,100 | ||
| Nov 30 | Income summary | $32,025 | |
| Salaries expense | $16,200 | ||
| Supplies expense | 825 | ||
| Interest expense | 2,900 | ||
| Depreciation expense | 5,400 | ||
| Rent expense | 6,700 | ||
| Nov 30 | Income summary | $67,075 | |
| Retained earnings ($99,100-32,025) | $67,075 | ||
| Nov 30 | Retained earnings | $15,000 | |
| Dividends | $15,000 |
2.
| Beginning retained earnings balance | $10,600 |
| Add: Net income | 67,075 |
| Less: Dividends | (15,000) |
| Ending retained earnings balance | $62,675 |
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X E3-24A (book/static) Selected accounts of Ramirez Electrical, Inc., at November 30, 2018, follow. (Click the...
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Selected accounts of Sparkle Electrical, Inc., at April 30, 2018, follow. B (Click the icon to view the accounts.) Read the requirements Requirement 1. Prepare the entity's closing entries, Begin by closing out the revenue accounts. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Apr Close out the expense accounts Journal Entry Account Nate Nehit Credit Choose from any list or enter any number in the input fields and then continue...
E3-23A (book/static) Question Help The adjusted trial balance for Chef on Demand Catering, Inc., is presented...
E3-23A (book/static) Question Help The adjusted trial balance for Chef on Demand Catering, Inc., is presented below. Prepare the income statement and statement of retained earnings for Chef on Demand Catering, Inc., for the month ended January 31, 2018. Also prepare a balance sheet at January 31, 2018 (Click the icon to view the adjusted trial balance.) Prepare the income statement. (If a box is not used in the statement, leave the box emply, do not select a label or...
Question Help The September 30, 2018 adjusted trial balance of Caramel Craze, Inc., is shown below....
Question Help The September 30, 2018 adjusted trial balance of Caramel Craze, Inc., is shown below. Click the icon to view the adjusted trial balance.) Read the requirements Requirement 1. Prepare the September closing entries for Caramel Craze, Inc. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin by closing out the revenue accounts. Journal Entry Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the...
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E3-19A (book/static) Question Help lenu ments The following data pertain to the November 30 adjusting entries: O (Click the icon to view the data.) The accounting records of Travel Time, Inc. include the following unadjusted balances at November 30. Accounts receivable, $900, Suppies, $650; Prepaid insurance, $2,000; Accumulated depreciation, equipment, $2,800; Salaries payable, $0; Uneamed service revenue, $1,500; Servioe revenue, $6,200,; Depreciation expense, equipment, $525; Salaries expense, $1,600, Insurance expense, $400; and Supplies expense, $0. mework Requirement Record the adjustmonts...
Question Help The September 30, 2018 adjusted trial balance of De Leche, Inc., is shown below....
Question Help The September 30, 2018 adjusted trial balance of De Leche, Inc., is shown below. (Click the icon to view the adjusted trial balance.) Read the requirements Requirement 1. Prepare the September closing entries for De Leche, Inc. (Record dabits first, then credits. Exclude explanations from any joumal entries.) Begin by closing out the revenue accounts Journal Entry Date Accounts Debit T Credit Choose from any list or enter any number in the input fields and then continue to...
Selected accounts for Kebby Photography at December 31, 2018, follow: Retained Earnings 49,000 Service Revenue Dividends...
Selected accounts for Kebby Photography at December 31, 2018, follow: Retained Earnings 49,000 Service Revenue Dividends 14,000 33,000 4,500 Salaries Expense 31,800 1,400 Supplies Expense 2,700 Depreciation Expense-Building 7,000 Depreciation Expense-Furniture 1,500 Requirements 1. Journalize Kebby Photography's closing entries at December 31, 2018. 2. Determine Kebby Photography's ending Retained Earnings balance at December 31, 2018.
Requirement 2. What is Jonah Electrical, Inc.'s Retained earnings balance at June 30, 2018? Jonah Electrical,...
Requirement 2. What is Jonah Electrical, Inc.'s Retained earnings balance at June 30, 2018? Jonah Electrical, Inc.'s Retained earning balance at June 30, 2018 is $ Data Table Common stock ..............$ Service revenue........... Unearned revenues ........... Salaries expense .......... Accumulated depreciation .... Supplies expense .......... Interest revenue ....... Interest expense ....... 23,000 Accounts receivable .......$ 102,000 Retained earnings ......... 2,100 Salaries payable .......... 16,500 Depreciation expense ...... 32,300 Rent expense ............ 2.400 Dividends ............. 300 Supplies ....... 2,700 8,000 12,600...
The adjusted trial balance of Edmond Real Estate Appraisal at June 30, 2018, follows: : (Click...
The adjusted trial balance of Edmond Real Estate Appraisal at June 30, 2018, follows: : (Click the icon to view the adjusted trial balance.) Read the requirements Requirement 1. Prepare the company's income statement for the year ended June 30, 2018. (If a box is not used in the statement, leave the box empty; do not select a label or enter a zero. Use a minus sign or parentheses to show a net loss.) Edmond Real Estate Appraisal Income Statement...
i Data Table Wireless Solution Unadjusted Trial Balance November 30, 2018 Balance Account Title Debit Credit...
i Data Table Wireless Solution Unadjusted Trial Balance November 30, 2018 Balance Account Title Debit Credit Cat Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Common Stock S 3,500 3,800 1,400 4,000 31,700 S 1,100 5,000 35.50a Print Done 1 of 9 (4 complete) i Data Table fo Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Common Stock Divndends Service Revenue Depreciation Expense-Equipment Salaries Expense Rent Expense Utilities Expense 31,700 S 1,100 5,000 35,500 2,300 8,300...
Question The account balances and select financial statements of Winfrey Towing Service at June 30, 2018,...
Question The account balances and select financial statements of Winfrey Towing Service at June 30, 2018, follow: (Click the icon to view the account balances.) (Click the icon to view the income statement for the month.) (Click the icon to view the statement of retained earnings for the month.) Requirements 1. Prepare the balance sheet for Winfrey Towing Service as of June 30, 2018. 2. What does the balance sheet report? Assets 9000 8500 Cash Accounts Receivable Office Supplies Equipment...
Selected accounts of Sparkle Electrical, Inc., at April 30, 2018, follow. B (Click the icon to view the accounts.) Read the requirements Requirement 1. Prepare the entity's closing entries, Begin by closing out the revenue accounts. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Apr Close out the expense accounts Journal Entry Account Nate Nehit Credit Choose from any list or enter any number in the input fields and then continue...
E3-23A (book/static) Question Help The adjusted trial balance for Chef on Demand Catering, Inc., is presented below. Prepare the income statement and statement of retained earnings for Chef on Demand Catering, Inc., for the month ended January 31, 2018. Also prepare a balance sheet at January 31, 2018 (Click the icon to view the adjusted trial balance.) Prepare the income statement. (If a box is not used in the statement, leave the box emply, do not select a label or...
Question Help The September 30, 2018 adjusted trial balance of Caramel Craze, Inc., is shown below. Click the icon to view the adjusted trial balance.) Read the requirements Requirement 1. Prepare the September closing entries for Caramel Craze, Inc. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin by closing out the revenue accounts. Journal Entry Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the...
E3-19A (book/static) Question Help lenu ments The following data pertain to the November 30 adjusting entries: O (Click the icon to view the data.) The accounting records of Travel Time, Inc. include the following unadjusted balances at November 30. Accounts receivable, $900, Suppies, $650; Prepaid insurance, $2,000; Accumulated depreciation, equipment, $2,800; Salaries payable, $0; Uneamed service revenue, $1,500; Servioe revenue, $6,200,; Depreciation expense, equipment, $525; Salaries expense, $1,600, Insurance expense, $400; and Supplies expense, $0. mework Requirement Record the adjustmonts...
Question Help The September 30, 2018 adjusted trial balance of De Leche, Inc., is shown below. (Click the icon to view the adjusted trial balance.) Read the requirements Requirement 1. Prepare the September closing entries for De Leche, Inc. (Record dabits first, then credits. Exclude explanations from any joumal entries.) Begin by closing out the revenue accounts Journal Entry Date Accounts Debit T Credit Choose from any list or enter any number in the input fields and then continue to...
Selected accounts for Kebby Photography at December 31, 2018, follow: Retained Earnings 49,000 Service Revenue Dividends 14,000 33,000 4,500 Salaries Expense 31,800 1,400 Supplies Expense 2,700 Depreciation Expense-Building 7,000 Depreciation Expense-Furniture 1,500 Requirements 1. Journalize Kebby Photography's closing entries at December 31, 2018. 2. Determine Kebby Photography's ending Retained Earnings balance at December 31, 2018.
Requirement 2. What is Jonah Electrical, Inc.'s Retained earnings balance at June 30, 2018? Jonah Electrical, Inc.'s Retained earning balance at June 30, 2018 is $ Data Table Common stock ..............$ Service revenue........... Unearned revenues ........... Salaries expense .......... Accumulated depreciation .... Supplies expense .......... Interest revenue ....... Interest expense ....... 23,000 Accounts receivable .......$ 102,000 Retained earnings ......... 2,100 Salaries payable .......... 16,500 Depreciation expense ...... 32,300 Rent expense ............ 2.400 Dividends ............. 300 Supplies ....... 2,700 8,000 12,600...
The adjusted trial balance of Edmond Real Estate Appraisal at June 30, 2018, follows: : (Click the icon to view the adjusted trial balance.) Read the requirements Requirement 1. Prepare the company's income statement for the year ended June 30, 2018. (If a box is not used in the statement, leave the box empty; do not select a label or enter a zero. Use a minus sign or parentheses to show a net loss.) Edmond Real Estate Appraisal Income Statement...
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