Homework Answers
| Post closing Trial balance is the last step of accounting process. | |||||||||||||
| It is prepared after recording of closing journal entries which closes out all the temporary accounts of income statement and drawings. | |||||||||||||
| Temporary accounts are transferred to capital account. | |||||||||||||
| Trial balance | Adjustments | Adj. Trial balance | Income statement | Balance sheet | Post closing TB | ||||||||
| Account titles | Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr | |
| Cash | $6,200 | $1,500 | $7,700 | $7,700 | $7,700 | ||||||||
| Accounts receivable | $10,100 | $1,000 | $11,100 | $11,100 | $11,100 | ||||||||
| Supplies | $1,800 | $1,400 | $400 | $400 | $400 | ||||||||
| Prepaid insurance | $4,800 | $200 | $4,600 | $4,600 | $4,600 | ||||||||
| Vehicle | $9,000 | $9,000 | $9,000 | $9,000 | |||||||||
| Accum.Depr- Vehicle | $350 | $350 | $350 | $350 | |||||||||
| Accounts payable | $6,000 | $6,000 | $6,000 | $6,000 | |||||||||
| Salaries and wages payable | $700 | $700 | $700 | $700 | |||||||||
| Owner's capital | $18,000 | $1,500 | $19,500 | $19,500 | $25,750 | (19500+6750-500) | |||||||
| Owner's drawings | $500 | $500 | $500 | ||||||||||
| Service revenue | $10,500 | $1,000 | $11,500 | $11,500 | |||||||||
| Salaries and wages expense | $1,700 | $700 | $2,400 | $2,400 | |||||||||
| Miscellaneous expense | $400 | $400 | $400 | ||||||||||
| Depreciation expense | $350 | $350 | $350 | ||||||||||
| Insurance expense | $200 | $200 | $200 | ||||||||||
| Supplies expense | $1,400 | $1,400 | $1,400 | ||||||||||
| $34,500 | $34,500 | $5,150 | $5,150 | $38,050 | $38,050 | $4,750 | $11,500 | $33,300 | $26,550 | $32,800 | $32,800 | ||
| Net income | $6,750 | $6,750 | |||||||||||
| Total | $11,500 | $11,500 | $33,300 | $33,300 | $32,800 | $32,800 | |||||||
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please fill out the post closing trail balance section at the
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Trial...
prepare income statement Collaborations The adjusted trial balance for Sandhill Company is shown below. WileyPLUS Support...
prepare income statement
Collaborations The adjusted trial balance for Sandhill Company is shown below. WileyPLUS Support SANDHILL COMPANY Trial Balance August 31, 2020 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash $10.500 $10.500 Accounts Receivable 8,700 9,500 Supplies 2.300 500 Prepaid Insurance 4,000 2700 Equipment 12.400 12.400 Accumulated Depreciation-Equipment $3,600 54.300 Accounts Payable 5,900 5.900 Salaries and Wages Payable 1.300 Uneamed Rent Revenue 1600 600 Owner's Capital 13,900 13.900 Service Revenue 34,200 35.000 Rent Revenue 10.900 11,900 Salarles and...
Only need to answer WORKSHEET, POST CLOSING TRIAL BALANCE AND CLOSING ENTRIES JOURNAL. Complete all steps...
Only need to answer WORKSHEET, POST CLOSING TRIAL BALANCE AND
CLOSING ENTRIES JOURNAL.
Complete all steps in accounting cycle. (LO 1, 2, 4) P4-5A Anya Clark opened Anya's Cleaning Service on July 1, 2017. During July, the following transactions were completed. GLS July 1 1 3 12 18 Anya invested $20,000 cash in the business. Purchased used truck for $12,000, paying $4,000 cash and the balance on account. Purchased cleaning supplies for $2,100 on account. Paid $1,800 cash on a...
prepare the adjusting entries that were made CRANE COMPANY Trial Balance August 31, 2020 Before Adjustment...
prepare the adjusting entries that were made
CRANE COMPANY Trial Balance August 31, 2020 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,300 $10,300 Accounts Receivable 9.000 9.500 Supplies 700 Prepaid Insurance 2,400 3.800 13.300 2.600 Equipment 13,300 Accumulated Depreciation-Equipment $3,600 $4,400 Accounts Payable 5.900 5.900 Salaries and Wages Payable 1.400 Unearned Rent Revenue 1400 800 Owner's Capital 14.900 14.900 Service Revenue 34 500 Rent Revenue 10.900 11500 Salanes and Wages Expense 17.000 18.400 Supplies Expense 1.700 Rent Expense...
Exercise 3-18 a-c (Video) The adjusted trial balance for Oriole Company is shown below. ORIOLE COMPANY...
Exercise 3-18 a-c (Video) The adjusted trial balance for Oriole Company is shown below. ORIOLE COMPANY Trial Balance August 31, 2020 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,000 10,000 $10,000 9,000 2,500 3,800 14,300 500 2,500 14,300 $ 3,500 5,700 $ 4,400 5,700 0 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Owner's Capital Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance...
The adjusted trial balance for Oriole Company is given in below. Oriole Company Trial Balance August...
The adjusted trial balance for Oriole Company is given in below. Oriole Company Trial Balance August 31, 2020 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash €10,100 €10,100 Accounts Receivable 8,900 10,000 Supplies 2,500 500 Prepaid Insurance 3,800 2,500 Equipment 13,500 13,500 Accumulated Depreciation-Equipment € 3,400 € 4,600 Accounts Payable 5,700 5,700 Salaries and Wages Payable 1,500 Unearned Rent Revenue 1,400 800 Share Capital-Ordinary 10,800 10,800 Retained Earnings 4,400 4,400 Service Revenue 33,900 35,000 Rent Revenue 11,200 11,800 Salaries...
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...
(c) Prepare the closing entries. Use J14 for the journal page. d) Post the closing entries....
(c) Prepare the closing entries. Use J14 for the journal page. d) Post the closing entries. Use the three-column form of account. Income Summary is D. Thao, are as follows. Cr. Account No. 101 112 126 130 157 158 200 201 212 230 301 306 400 610 631 711 722 726 905 THAO COMPANY Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account Titles Dr. Cash 5,300 Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment 27,000...
The trial balance columns of the worksheet for Sheridan Roofing at March 31, 2020, are as...
The trial balance columns of the worksheet for Sheridan Roofing at March 31, 2020, are as follows. Sheridan Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Cr. Dr. Account Titles 4,800 Cash 2,800 Accounts Receivable 1,930 Supplies 10,868 Equipment 1,235 Accumulated Depreciation-Equipment 2,530 Accounts Payable 490 Unearned Service Revenue 12,663 Owner's Capital 1,130 Owner's Drawings 6,400 Service Revenue 1,390 Salaries and Wages Expense 400 Miscellaneous Expense 23,318 23,318 Other data: A physical count reveals only $400 of...
Exercise 4-01 The trial balance columns of the worksheet for Ivanhoe Company at June 30, 2020,...
Exercise 4-01 The trial balance columns of the worksheet for Ivanhoe Company at June 30, 2020, are as follows. Dr. Ivanhoe Company Worksheet For the Month Ended June 30, 2020 Trial Balance Account Titles Cr. Cash 2,200 Accounts Receivable 2,700 Supplies 2,000 Accounts Payable 1,000 Unearned Service Revenue 420 Owner's Capital 2,780 Service Revenue 3,600 Salaries and Wages Expense 660 Miscellaneous Expense 240 Total 7,800 7,800 Other data: 1. A physical count reveals $400 of supplies on hand. 2. $120...
Ivanhoe Company Worksheet For the Month Ended June 30, 2020 Trial Balance Account Titles Dr. Cr....
Ivanhoe Company Worksheet For the Month Ended June 30, 2020 Trial Balance Account Titles Dr. Cr. Cash 2,100 Accounts Receivable 2,800 Supplies 2,000 Accounts Payable 1,100 Unearned Service Revenue 400 Owner's Capital 3,160 Service Revenue 3,000 Salaries and Wages Expense Miscellaneous Expense 160 Total 7,660 7,660 Other data: 1. A physical count reveals $700 of supplies on hand. 2. $100 of the unearned revenue is still unearned at month-end. 3. Accrued salaries are $310. Complete the worksheet. June 30, Account...
prepare income statement
Collaborations The adjusted trial balance for Sandhill Company is shown below. WileyPLUS Support SANDHILL COMPANY Trial Balance August 31, 2020 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash $10.500 $10.500 Accounts Receivable 8,700 9,500 Supplies 2.300 500 Prepaid Insurance 4,000 2700 Equipment 12.400 12.400 Accumulated Depreciation-Equipment $3,600 54.300 Accounts Payable 5,900 5.900 Salaries and Wages Payable 1.300 Uneamed Rent Revenue 1600 600 Owner's Capital 13,900 13.900 Service Revenue 34,200 35.000 Rent Revenue 10.900 11,900 Salarles and...
Only need to answer WORKSHEET, POST CLOSING TRIAL BALANCE AND
CLOSING ENTRIES JOURNAL.
Complete all steps in accounting cycle. (LO 1, 2, 4) P4-5A Anya Clark opened Anya's Cleaning Service on July 1, 2017. During July, the following transactions were completed. GLS July 1 1 3 12 18 Anya invested $20,000 cash in the business. Purchased used truck for $12,000, paying $4,000 cash and the balance on account. Purchased cleaning supplies for $2,100 on account. Paid $1,800 cash on a...
prepare the adjusting entries that were made
CRANE COMPANY Trial Balance August 31, 2020 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,300 $10,300 Accounts Receivable 9.000 9.500 Supplies 700 Prepaid Insurance 2,400 3.800 13.300 2.600 Equipment 13,300 Accumulated Depreciation-Equipment $3,600 $4,400 Accounts Payable 5.900 5.900 Salaries and Wages Payable 1.400 Unearned Rent Revenue 1400 800 Owner's Capital 14.900 14.900 Service Revenue 34 500 Rent Revenue 10.900 11500 Salanes and Wages Expense 17.000 18.400 Supplies Expense 1.700 Rent Expense...
Exercise 3-18 a-c (Video) The adjusted trial balance for Oriole Company is shown below. ORIOLE COMPANY Trial Balance August 31, 2020 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,000 10,000 $10,000 9,000 2,500 3,800 14,300 500 2,500 14,300 $ 3,500 5,700 $ 4,400 5,700 0 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Owner's Capital Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance...
The adjusted trial balance for Oriole Company is given in below. Oriole Company Trial Balance August 31, 2020 Before After Adjustment Adjustment Dr. Cr. Dr. Cr. Cash €10,100 €10,100 Accounts Receivable 8,900 10,000 Supplies 2,500 500 Prepaid Insurance 3,800 2,500 Equipment 13,500 13,500 Accumulated Depreciation-Equipment € 3,400 € 4,600 Accounts Payable 5,700 5,700 Salaries and Wages Payable 1,500 Unearned Rent Revenue 1,400 800 Share Capital-Ordinary 10,800 10,800 Retained Earnings 4,400 4,400 Service Revenue 33,900 35,000 Rent Revenue 11,200 11,800 Salaries...
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...
(c) Prepare the closing entries. Use J14 for the journal page. d) Post the closing entries. Use the three-column form of account. Income Summary is D. Thao, are as follows. Cr. Account No. 101 112 126 130 157 158 200 201 212 230 301 306 400 610 631 711 722 726 905 THAO COMPANY Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account Titles Dr. Cash 5,300 Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment 27,000...
The trial balance columns of the worksheet for Sheridan Roofing at March 31, 2020, are as follows. Sheridan Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Cr. Dr. Account Titles 4,800 Cash 2,800 Accounts Receivable 1,930 Supplies 10,868 Equipment 1,235 Accumulated Depreciation-Equipment 2,530 Accounts Payable 490 Unearned Service Revenue 12,663 Owner's Capital 1,130 Owner's Drawings 6,400 Service Revenue 1,390 Salaries and Wages Expense 400 Miscellaneous Expense 23,318 23,318 Other data: A physical count reveals only $400 of...
Exercise 4-01 The trial balance columns of the worksheet for Ivanhoe Company at June 30, 2020, are as follows. Dr. Ivanhoe Company Worksheet For the Month Ended June 30, 2020 Trial Balance Account Titles Cr. Cash 2,200 Accounts Receivable 2,700 Supplies 2,000 Accounts Payable 1,000 Unearned Service Revenue 420 Owner's Capital 2,780 Service Revenue 3,600 Salaries and Wages Expense 660 Miscellaneous Expense 240 Total 7,800 7,800 Other data: 1. A physical count reveals $400 of supplies on hand. 2. $120...
Ivanhoe Company Worksheet For the Month Ended June 30, 2020 Trial Balance Account Titles Dr. Cr. Cash 2,100 Accounts Receivable 2,800 Supplies 2,000 Accounts Payable 1,100 Unearned Service Revenue 400 Owner's Capital 3,160 Service Revenue 3,000 Salaries and Wages Expense Miscellaneous Expense 160 Total 7,660 7,660 Other data: 1. A physical count reveals $700 of supplies on hand. 2. $100 of the unearned revenue is still unearned at month-end. 3. Accrued salaries are $310. Complete the worksheet. June 30, Account...
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