Homework Answers
1) Journal entries
| Date | account and explanation | Debit | Credit |
| Apr 4 | Supplies | 5900 | |
| Account payable | 5900 | ||
| Apr 7 | Account receivable | 4000 | |
| Service revenue | 4000 | ||
| Apr 12 | Cash | 640 | |
| Service revenue | 640 | ||
| Apr 15 | Salaries and wages expense | 810 | |
| Cash | 810 | ||
| Apr 25 | Account payable | 3450 | |
| Cash | 3450 | ||
| Apr 29 | Cash | 670 | |
| Account receivable | 670 | ||
| Apr 30 | Cash | 800 | |
| Unearned service revenue | 800 | ||
Trial balance
| Debit | Credit | |
| Cash | 12050 | |
| Account receivable | 3330 | |
| Supplies | 5900 | |
| Account payable | 2450 | |
| Unearned service revenue | 800 | |
| Common Stock | 14200 | |
| Service revenue | 4640 | |
| Salaries and wages expense | 810 | |
| Total | 22090 | 22090 |
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The T-accounts below summarize the ledger of Splish Brothers Inc. at the end of the first...
Exercise 3-16 The T-accounts below summarize the ledger of Kingbird, Inc. at the end of the...
Exercise 3-16 The T-accounts below summarize the ledger of Kingbird, Inc. at the end of the first month of operations. Cash 12,300 Apr. 15 540 Apr. 25 760 3,700 Apr. 1 Apr. 12 Apr. 29 Apr. 30 730 Apr. 7 730 Apr. 4 Apr. 25 6,400 790 Accounts Receivable 4,800 Apr. 29 Supplies 6,400 Accounts Payable 3,700 Apr. 4 Unearned Service Revenue Apr. 30 Common Stock Apr. 1 Service Revenue Apr. 7 Apr 12 Salaries and Wages Expense 7601 790...
Selected transactions from the journal of Splish Brothers Inc. during its first month of operations are...
Selected transactions from the journal of Splish Brothers Inc. during its first month of operations are presented here. Date Account Titles Debit Credit Aug 1 Cash 7,700 7,700 10 1.250 1,250 12 6,400 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 1,550 4,850 25 2.890 2,890 31 500 500 Post the transactions to T-accounts. (Post entries in the order of Journal entries presented in the question.) Cash Aug. 1 7700 Aug. 12...
Exercise 3-16 The T-accounts below summarize the ledger of Tamarisk, Inc. at the end of the...
Exercise 3-16 The T-accounts below summarize the ledger of Tamarisk, Inc. at the end of the first month of operations. Cash Apr. 1 15,400 Apr. 15 770 Apr. 12 580 Apr. 25 3,900 Apr. 29 520 Apr. 30 880 Accounts Receivable Apr. 7 3,600 Apr. 29 520 Supplies 5,700 Accounts Payable Apr. 25 3,900 Apr. 4 5,700 Uneared Service Revenue Apr. 30 880 Common Stock Apr. 1 15,400 Service Revenue Apr. 7 3,600 Apr 12 580 Salaries and Wages Expense...
The ledger of Splish Brothers Inc. at the end of the current year shows Accounts Receivable $73,000; Credit Sales $840,000; and Sales Returns and Allowances $40,000.
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Selected transactions from the journal of Splish Brothers Inc. during its first month of operations are...
Selected transactions from the journal of Splish Brothers Inc. during its first month of operations are presented here. Account Titles Debit Credit Date Aug 1 Cash 7,700 7.700 10 1.250 1.250 12 6,400 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 1.550 4,850 25 2.890 2,890 31 500 500 (a) Post the transactions to accounts. (Post entries in the order of journal entries presented in the question) Cash Accounts Receivable Equipment Equipment...
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On December 31. the adjusted trial balance of Splish Brothers Inc. shows the following selected data: Accounts receivable $9,230 Service revenue $107,100 Interest expense 12,670 Interest payable 6,950 Analysis shows that adjusting entries had been made, and included above, for (1) $9.230 of services performed but not billed, and (2) $6,950 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent...
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The Splish Brothers Theater will begin operations in March. The Splish Brothers will be unique in...
The Splish Brothers Theater will begin operations in March. The Splish Brothers will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Splish Brothers showed No. 101 Cash W2,820, No. 140 Land W22,560, No. 145 Buildings (concession stand, projection oth, and screen) W9,400, No. 157 Equipment W9,400, No. 201 Accounts Payable W6,580, and No. 311 Share Capital-Ordinary W37,600. During the month of March, the following events and transactions...
Exercise 3-16 The T-accounts below summarize the ledger of Kingbird, Inc. at the end of the first month of operations. Cash 12,300 Apr. 15 540 Apr. 25 760 3,700 Apr. 1 Apr. 12 Apr. 29 Apr. 30 730 Apr. 7 730 Apr. 4 Apr. 25 6,400 790 Accounts Receivable 4,800 Apr. 29 Supplies 6,400 Accounts Payable 3,700 Apr. 4 Unearned Service Revenue Apr. 30 Common Stock Apr. 1 Service Revenue Apr. 7 Apr 12 Salaries and Wages Expense 7601 790...
Selected transactions from the journal of Splish Brothers Inc. during its first month of operations are presented here. Date Account Titles Debit Credit Aug 1 Cash 7,700 7,700 10 1.250 1,250 12 6,400 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 1,550 4,850 25 2.890 2,890 31 500 500 Post the transactions to T-accounts. (Post entries in the order of Journal entries presented in the question.) Cash Aug. 1 7700 Aug. 12...
Exercise 3-16 The T-accounts below summarize the ledger of Tamarisk, Inc. at the end of the first month of operations. Cash Apr. 1 15,400 Apr. 15 770 Apr. 12 580 Apr. 25 3,900 Apr. 29 520 Apr. 30 880 Accounts Receivable Apr. 7 3,600 Apr. 29 520 Supplies 5,700 Accounts Payable Apr. 25 3,900 Apr. 4 5,700 Uneared Service Revenue Apr. 30 880 Common Stock Apr. 1 15,400 Service Revenue Apr. 7 3,600 Apr 12 580 Salaries and Wages Expense...
Exercise 2-12 (Part Level Submission) The T-accounts below summarize the ledger of Windsor, Inc. at the end of its first month of operations. Cash No. 101 2,720 1,560 12,800 4/15 4/12 4/29 4/30 980 4/25 600 1,640 Accounts Receivable No. 112 600 No. 126 3,900 4/29 4/4 2,020 Accounts Payable 1,560 4/4 Unearned Service Revenue No. 201 2,020 No. 209 1,640 No. 311 12,800 No. 400 3,900 980 No. 726 4/25 4/30 Common Stock Service Revenue 4/12 Salaries and Wages...
Selected transactions from the journal of Splish Brothers Inc. during its first month of operations are presented here. Account Titles Debit Credit Date Aug 1 Cash 7,700 7.700 10 1.250 1.250 12 6,400 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 1.550 4,850 25 2.890 2,890 31 500 500 (a) Post the transactions to accounts. (Post entries in the order of journal entries presented in the question) Cash Accounts Receivable Equipment Equipment...
On December 31. the adjusted trial balance of Splish Brothers Inc. shows the following selected data: Accounts receivable $9,230 Service revenue $107,100 Interest expense 12,670 Interest payable 6,950 Analysis shows that adjusting entries had been made, and included above, for (1) $9.230 of services performed but not billed, and (2) $6,950 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent...
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CALCULATOR PRINTER VERSION HACK NEXT Brief Exercise 3-06 On July 1, 2020, Splish Brothers Inc, pays $24,900 to Kalter Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31 Journalize and post the entry on July 1 and the adjusting entry on December 31 for Kalter Insurance Co. Kalter uses the accounts Uneared Service Revenue and Service Revenue (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal...
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