Homework Answers
| Reasons | |||
| 52 | d | All of these choices | This is fundamental accounting concept hence, applicable for all. |
| 53 | b | Karen Meyer's personal records and the American Red Cross | Since, 10,000 will be recorded in Crystal cleaning not 6000 |
| 54 | b. | Prepaid expense | Since, it is a balance sheet item being an asset. Others will be closed through closing entries |
| 55 | a. | Adjusting entries | |
| 56 | b. | The drawing account | When drawing done it is debited, same as expenses |
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is prepared Date (4) Total the Debit and Credit columns of the trial balance What is...
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following...
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? a. Cash, debit; Debbi Janer, Capital, credit b. Accounts Payable, debit; Cash, credit c. Accounts Receivable, debit; Cash, credit d. Accounts Payable, debit; Accounts Receivable, credit 40. Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Account titles of liabilities often include the term "payable." e. Cash...
The adjustments columns of the Trial Balance Worksheet summarize? the: A. closing journal entries. B. cashminus?basis...
The adjustments columns of the Trial Balance Worksheet summarize? the: A. closing journal entries. B. cashminus?basis journal entries. C. dayminus?tominus?day journal entries. D. adjusting journal entries.
P4.1A (LO 1, 2, 4 Financial Statement The trial balance columns of the worksheet for Warren...
P4.1A (LO 1, 2, 4 Financial Statement The trial balance columns of the worksheet for Warren Roofing at March 31, 2020. are as follows. Prepare a worksheet, financial state- and using and closing entries Excel Warren Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cr. Cash 4.500 Accounts Receivable 3,200 Supplies 2,000 Equipment 11,000 Accumulated Depreciation Equipment 1.250 Accounts Payable 2.500 Unearned Service Revenue 550 Owner's Capital 12,900 Owner's Drawings 1,100 Service Revenue 6,300...
Question 6 The trial balance columns of the work sheet for Tang Cable Service at 31 May 2018 are as follow Tang Cable Service Trial Balance 31 May 2018 Debit (RM) Credit 6,200 2,000 500 15,300 j Cash...
Question 6 The trial balance columns of the work sheet for Tang Cable Service at 31 May 2018 are as follow Tang Cable Service Trial Balance 31 May 2018 Debit (RM) Credit 6,200 2,000 500 15,300 j Cash Accounts Receivable Supplies Office Furniture Accumulated Depreciation - Furniture Accounts Payable Unearned Revenue Tang, Capital Tang, Drawing Service Revenue Salaries Expense Miscellaneous Expense 1,700 5,400 500 12,000 600 5,900 700 200 RM 25,500 RM 25,500 Other data: 1. 2. 3. 4. Supplies...
Problems: Set A P4.1A (LO 1, 2, 4 Financial Statement the trial balance columns of the...
Problems: Set A P4.1A (LO 1, 2, 4 Financial Statement the trial balance columns of the worksheet for Warren Roofing at March 31, 2020, are as follows. Prer tries that were made. sto Income Summary the Accounting Cycle Warren Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cr. Cash 4,500 Accounts Receivable 3,200 Supplies 2,000 Equipment 11.000 Accumulated Depreciation Equipment 1.250 Accounts Payable 2.500 Unearned Service Revenue 550 Owner's Capital 12.900 Owner's Drawings 1.100...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not journalized. b. posted to the ledger but not journalized. not journalized until after the financial statements are prepared. d. journalized before the worksheet is completed. 2. The information for preparing a trial balance on a worksheet is obtained from financial statements. b. general ledger accounts. general journal entries. d. business documents. 3. After the adjusting entries are journalized and posted to the accounts in...
PROBLEMS: SET A P -1A The trial balance columns of the worksheet for Warren Roofing at...
PROBLEMS: SET A P -1A The trial balance columns of the worksheet for Warren Roofing at March 31, 2017, e as follows. WARREN ROOFING Worksheet For the Month Ended March 31, 2017 L Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Miscellaneous Expense Trial Balance Dr. Cr. 4,500 3,200 2,000 11,000 1,250 2,500 550 12,900 1,100 6,300 1,300 400 23,500 23,500 Other data:...
adjusting Entries, closing entries, general ledger, worksheet, income statement, balance sheet and post closing trial balance...
adjusting Entries, closing entries, general ledger, worksheet,
income statement, balance sheet and post closing trial balance
sheet
CUN Ice. P4.5A (LO 1, 2, 4) Anya Clark opened Anya's Cleaning Service on July 1, 2020. During July, the fol- lowing transactions were completed. July 1 Anya invested $20,000 cash in the business. 1 Purchased used truck for $12,000, paying $4,000 cash and the balance on account. 3 Purchased cleaning supplies for $2,100 on account. 5 Paid $1,800 cash on a 1-year...
"Exercise 4-04 a-c The adjusted trial balance columns of the worksheet for Wildhorse Company are as...
"Exercise 4-04 a-c The adjusted trial balance columns of the worksheet for Wildhorse Company are as follows. WILDHORSE COMPANY Worksheet (partial) For the Month Ended April 30, 2020 Adjusted Trial Balance Accountries 11.300 8.000 ACCP Own Capital Owners Drawing Service Revenue Sales and Wages Expense Rent Expense Depreciations Interest Expense Interest Payable Total Your answer is correct. Journalize the closing entries at April 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) e Na...
Balance Adjustments Debit Credit Debit Credit Adjusted Trial Balance Debit Credit Income Statement Credit Debit Balance...
Balance Adjustments Debit Credit Debit Credit Adjusted Trial Balance Debit Credit Income Statement Credit Debit Balance sheet accounts: Cash Accounts receivable Prepaid rent Unexpired insurance Office supplies Rental equipment Notes payable Accounts payable Unearned rental fees Dividends payable Capital stock Retained earnings Dividends Interest payable Accumulated depreciation: rental equipment Salaries payable Income taxes payable Income statement accounts: ERET FE 13 382 Rental fees earned Salaries expense Maintenance expense Utilities expense FILL Rent expense Interest expense Depreciation expense Office supplies expense...
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? a. Cash, debit; Debbi Janer, Capital, credit b. Accounts Payable, debit; Cash, credit c. Accounts Receivable, debit; Cash, credit d. Accounts Payable, debit; Accounts Receivable, credit 40. Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Account titles of liabilities often include the term "payable." e. Cash...
P4.1A (LO 1, 2, 4 Financial Statement The trial balance columns of the worksheet for Warren Roofing at March 31, 2020. are as follows. Prepare a worksheet, financial state- and using and closing entries Excel Warren Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cr. Cash 4.500 Accounts Receivable 3,200 Supplies 2,000 Equipment 11,000 Accumulated Depreciation Equipment 1.250 Accounts Payable 2.500 Unearned Service Revenue 550 Owner's Capital 12,900 Owner's Drawings 1,100 Service Revenue 6,300...
Question 6 The trial balance columns of the work sheet for Tang Cable Service at 31 May 2018 are as follow Tang Cable Service Trial Balance 31 May 2018 Debit (RM) Credit 6,200 2,000 500 15,300 j Cash Accounts Receivable Supplies Office Furniture Accumulated Depreciation - Furniture Accounts Payable Unearned Revenue Tang, Capital Tang, Drawing Service Revenue Salaries Expense Miscellaneous Expense 1,700 5,400 500 12,000 600 5,900 700 200 RM 25,500 RM 25,500 Other data: 1. 2. 3. 4. Supplies...
Problems: Set A P4.1A (LO 1, 2, 4 Financial Statement the trial balance columns of the worksheet for Warren Roofing at March 31, 2020, are as follows. Prer tries that were made. sto Income Summary the Accounting Cycle Warren Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cr. Cash 4,500 Accounts Receivable 3,200 Supplies 2,000 Equipment 11.000 Accumulated Depreciation Equipment 1.250 Accounts Payable 2.500 Unearned Service Revenue 550 Owner's Capital 12.900 Owner's Drawings 1.100...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not journalized. b. posted to the ledger but not journalized. not journalized until after the financial statements are prepared. d. journalized before the worksheet is completed. 2. The information for preparing a trial balance on a worksheet is obtained from financial statements. b. general ledger accounts. general journal entries. d. business documents. 3. After the adjusting entries are journalized and posted to the accounts in...
PROBLEMS: SET A P -1A The trial balance columns of the worksheet for Warren Roofing at March 31, 2017, e as follows. WARREN ROOFING Worksheet For the Month Ended March 31, 2017 L Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Miscellaneous Expense Trial Balance Dr. Cr. 4,500 3,200 2,000 11,000 1,250 2,500 550 12,900 1,100 6,300 1,300 400 23,500 23,500 Other data:...
adjusting Entries, closing entries, general ledger, worksheet,
income statement, balance sheet and post closing trial balance
sheet
CUN Ice. P4.5A (LO 1, 2, 4) Anya Clark opened Anya's Cleaning Service on July 1, 2020. During July, the fol- lowing transactions were completed. July 1 Anya invested $20,000 cash in the business. 1 Purchased used truck for $12,000, paying $4,000 cash and the balance on account. 3 Purchased cleaning supplies for $2,100 on account. 5 Paid $1,800 cash on a 1-year...
"Exercise 4-04 a-c The adjusted trial balance columns of the worksheet for Wildhorse Company are as follows. WILDHORSE COMPANY Worksheet (partial) For the Month Ended April 30, 2020 Adjusted Trial Balance Accountries 11.300 8.000 ACCP Own Capital Owners Drawing Service Revenue Sales and Wages Expense Rent Expense Depreciations Interest Expense Interest Payable Total Your answer is correct. Journalize the closing entries at April 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) e Na...
Balance Adjustments Debit Credit Debit Credit Adjusted Trial Balance Debit Credit Income Statement Credit Debit Balance sheet accounts: Cash Accounts receivable Prepaid rent Unexpired insurance Office supplies Rental equipment Notes payable Accounts payable Unearned rental fees Dividends payable Capital stock Retained earnings Dividends Interest payable Accumulated depreciation: rental equipment Salaries payable Income taxes payable Income statement accounts: ERET FE 13 382 Rental fees earned Salaries expense Maintenance expense Utilities expense FILL Rent expense Interest expense Depreciation expense Office supplies expense...
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