The trial balance a.shows the current date. b.lists only accounts that are used to prepare the...
The trial balance
a.shows the current date.
b.lists only accounts that are used to prepare the balance sheet.
c.shows only debit balances.
d.shows only credit balances.
Homework Answers
The correct answer is a.shows the current date.
Note:
The trial balance is prepared for a particular date and it reflects all the items whether or not it is used to prepare the balance sheet.
Further the trial balance shows both the debit and the credit balances.
Add Answer to:
The trial balance
a.shows the current date.
b.lists only accounts that are used to prepare the...
Exercise 3-20A Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries...
Exercise 3-20A Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) On January 1, 2021, Red Flash Photography had the following balances: Cash, $20,000; Supplies, $8,800; Land, $68,000; Deferred Revenue, $5,800; Common Stock $58,000; and Retained Earnings, $33,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $ 28,000. 2. May 20 Provide services to customers for cash, $ 43,000, and...
Using the following information, prepare a trial balance. Assume all asset, dividend, and expense accounts have...
Using the following information, prepare a trial balance. Assume all asset, dividend, and expense accounts have debit balances and all liability, stockholders' equity, and revenue accounts have credit balances. List the accounts in the following order: assets, liabilities, stockholders' equity, dividends, revenues, and expenses. Cash Salaries Payable Prepaid Rent Accounts Payable Retained Earnings Salaries Expense $6,050 600 800 1,950 1,750 2,900 Dividends Rent Expense Accounts Receivable Common Stock Service Revenue Advertising Expense $ 400 1,950 4,300 6,100 7,000 1,000 Trial...
The trial balance of Crane Fashion Center contained the following accounts at November 30, the end...
The trial balance of Crane Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit CRANE FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $32,700 Accounts Receivable 36,700 Inventory 48,000 Supplies 8,500 Equipment 139,000 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and Wages Expense 139,000 Advertising Expense 27,400 Utilities Expenses 15,000 Maintenance and Repairs Expense 12,100...
An inexperienced bookkeeper prepared the following trial balance that does not balance. Prepare a correct trial...
An inexperienced bookkeeper prepared the following trial balance that does not balance. Prepare a correct trial balance, assuming all account balances are normal. IVANHOE COMPANY Trial Balance December 31, 2017 Credit Debit $21,970 Cash $5,220 Prepaid Insurance 3,670 Accounts Payable 3,990 Unearned Service Revenue 10,000 Common Stock 6,600 Retained Earnings 7,250 Dividends Service Revenue 27,320 12,350 Salaries and Wages Expense 4,790 Rent Expense $38,310 $64,850 IVANHOE COMPANY Trial Balance Debit Credit
Problem 3-04 The trial balance of Whispering Fashion Center contained the following accounts at November 30,...
Problem 3-04 The trial balance of Whispering Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit 48,300 WHISPERING FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $33,150 Accounts Receivable 37,000 Inventory Supplies 8,800 Equipment 139,600 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and Wages Expense 138,600 Advertising Expense 27,550 Utilities Expenses 15,400 Maintenance and Repairs...
Swifty Corporation records all prepayments in income statement accounts. At April 30, the trial balance shows...
Swifty Corporation records all prepayments in income statement accounts. At April 30, the trial balance shows Supplies Expense $2,700, Service Revenue $9.400, and zero balances in related balance sheet accounts. Prepare the adjusting entries at April 30 assuming: (Credit account titles are automatically indented when the amount is entered. Do not indent manually) (a) $800 of supplies on hand and (b) $3,200 of service revenue should be reported as unearned. No. Account Titles and Explanation Debit Credit Date Apr. 30...
Novak Corp. records all prepayments in income statement accounts. At April 30, the trial balance shows...
Novak Corp. records all prepayments in
income statement accounts. At April 30, the trial balance shows
Supplies Expense $2,300, Service Revenue $8,900, and zero balances
in related balance sheet accounts. Prepare the adjusting entries at
April 30 assuming: (Credit account titles are automatically
indented when the amount is entered. Do not indent manually.) (a)
$600 of supplies on hand and (b) $2,100 of service revenue should
be reported as unearned.
Question 5 Novak Corp. records all prepayments in income statement...
Current Attempt in Progress Prepare a trial balance from the ledger accounts of Carla Vista Co....
Current Attempt in Progress Prepare a trial balance from the ledger accounts of Carla Vista Co. as of January 31, 2022. Accounts Payable Accounts Receivable Cash Common Stock Dividends $1,300 3,300 2,300 3,150 1,450 Rent Expense Service Revenue Supplies Salaries and Wages Expense $700 5,500 200 2,000 Debit Credit Accounts Payable $ $ 1300 Accounts Receivable 3300 Cash 2300 ownd I
22. Using the following accounts and their balances, prepare the trial balance for Campo Furniture Repair...
22. Using the following accounts and their balances, prepare the trial balance for Campo Furniture Repair as of December 31, 2018. All accounts have normal balances. (Click the icon to view Campo Furniture Repair's accounts.) work z/Test Campo Furniture Repair Trial Balance December 31, 2018 Balance Debit Credit Account Title © Data Table ces pain $ $ 4,000 1,100 400 Cash Unearned Revenue Equipment Service Revenue Advertising Expense Utilities Expense Rent Expense Accounts Payable Dividends 10,280 23,000 8,500 17,000 5,300...
The trial balance of Crane Fashion Center contained the following accounts at November 30, the end...
The trial balance of Crane Fashion Center contained the
following accounts at November 30, the end of the company’s fiscal
year.
CRANE FASHION CENTER
TRIAL BALANCE
NOVEMBER 30, 2020
Debit
Credit
Cash
$32,700
Accounts Receivable
36,700
Inventory
48,000
Supplies
8,500
Equipment
139,000
Accumulated Depreciation-Equipment
$26,000
Notes Payable
54,000
Accounts Payable
51,500
Common Stock
93,000
Retained Earnings
11,000
Sales Revenue
764,200
Sales Returns and Allowances
4,200
Cost of Goods Sold
495,400
Salaries and Wages Expense
139,000
Advertising Expense
27,400
Utilities Expenses...
Exercise 3-20A Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) On January 1, 2021, Red Flash Photography had the following balances: Cash, $20,000; Supplies, $8,800; Land, $68,000; Deferred Revenue, $5,800; Common Stock $58,000; and Retained Earnings, $33,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $ 28,000. 2. May 20 Provide services to customers for cash, $ 43,000, and...
Using the following information, prepare a trial balance. Assume all asset, dividend, and expense accounts have debit balances and all liability, stockholders' equity, and revenue accounts have credit balances. List the accounts in the following order: assets, liabilities, stockholders' equity, dividends, revenues, and expenses. Cash Salaries Payable Prepaid Rent Accounts Payable Retained Earnings Salaries Expense $6,050 600 800 1,950 1,750 2,900 Dividends Rent Expense Accounts Receivable Common Stock Service Revenue Advertising Expense $ 400 1,950 4,300 6,100 7,000 1,000 Trial...
The trial balance of Crane Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit CRANE FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $32,700 Accounts Receivable 36,700 Inventory 48,000 Supplies 8,500 Equipment 139,000 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and Wages Expense 139,000 Advertising Expense 27,400 Utilities Expenses 15,000 Maintenance and Repairs Expense 12,100...
An inexperienced bookkeeper prepared the following trial balance that does not balance. Prepare a correct trial balance, assuming all account balances are normal. IVANHOE COMPANY Trial Balance December 31, 2017 Credit Debit $21,970 Cash $5,220 Prepaid Insurance 3,670 Accounts Payable 3,990 Unearned Service Revenue 10,000 Common Stock 6,600 Retained Earnings 7,250 Dividends Service Revenue 27,320 12,350 Salaries and Wages Expense 4,790 Rent Expense $38,310 $64,850 IVANHOE COMPANY Trial Balance Debit Credit
Problem 3-04 The trial balance of Whispering Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit 48,300 WHISPERING FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $33,150 Accounts Receivable 37,000 Inventory Supplies 8,800 Equipment 139,600 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and Wages Expense 138,600 Advertising Expense 27,550 Utilities Expenses 15,400 Maintenance and Repairs...
Swifty Corporation records all prepayments in income statement accounts. At April 30, the trial balance shows Supplies Expense $2,700, Service Revenue $9.400, and zero balances in related balance sheet accounts. Prepare the adjusting entries at April 30 assuming: (Credit account titles are automatically indented when the amount is entered. Do not indent manually) (a) $800 of supplies on hand and (b) $3,200 of service revenue should be reported as unearned. No. Account Titles and Explanation Debit Credit Date Apr. 30...
Novak Corp. records all prepayments in
income statement accounts. At April 30, the trial balance shows
Supplies Expense $2,300, Service Revenue $8,900, and zero balances
in related balance sheet accounts. Prepare the adjusting entries at
April 30 assuming: (Credit account titles are automatically
indented when the amount is entered. Do not indent manually.) (a)
$600 of supplies on hand and (b) $2,100 of service revenue should
be reported as unearned.
Question 5 Novak Corp. records all prepayments in income statement...
Current Attempt in Progress Prepare a trial balance from the ledger accounts of Carla Vista Co. as of January 31, 2022. Accounts Payable Accounts Receivable Cash Common Stock Dividends $1,300 3,300 2,300 3,150 1,450 Rent Expense Service Revenue Supplies Salaries and Wages Expense $700 5,500 200 2,000 Debit Credit Accounts Payable $ $ 1300 Accounts Receivable 3300 Cash 2300 ownd I
22. Using the following accounts and their balances, prepare the trial balance for Campo Furniture Repair as of December 31, 2018. All accounts have normal balances. (Click the icon to view Campo Furniture Repair's accounts.) work z/Test Campo Furniture Repair Trial Balance December 31, 2018 Balance Debit Credit Account Title © Data Table ces pain $ $ 4,000 1,100 400 Cash Unearned Revenue Equipment Service Revenue Advertising Expense Utilities Expense Rent Expense Accounts Payable Dividends 10,280 23,000 8,500 17,000 5,300...
The trial balance of Crane Fashion Center contained the
following accounts at November 30, the end of the company’s fiscal
year.
CRANE FASHION CENTER
TRIAL BALANCE
NOVEMBER 30, 2020
Debit
Credit
Cash
$32,700
Accounts Receivable
36,700
Inventory
48,000
Supplies
8,500
Equipment
139,000
Accumulated Depreciation-Equipment
$26,000
Notes Payable
54,000
Accounts Payable
51,500
Common Stock
93,000
Retained Earnings
11,000
Sales Revenue
764,200
Sales Returns and Allowances
4,200
Cost of Goods Sold
495,400
Salaries and Wages Expense
139,000
Advertising Expense
27,400
Utilities Expenses...
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