Homework Answers
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Answer: |
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| 1) | Total revenue for the period is | $ 64,400 |
| 2) | Total expense for the period are | $ 34,600 |
| 3) | Net income for the period is | $ 29,800 |
| 4) | Owner's withdraws for the period are | $ 9,700 |
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The Income Summary and Linda Carter, Capital accounts for Carter Production Company at the end of...
The Income Summary and Linda Carter, Capital accounts for Carter Production Company at the end of...
The Income Summary and Linda Carter, Capital accounts for Carter Production Company at the end of its accounting period follow. Income Summary Account No. 399 Balance Date Description Debit Credit Debit Credit 2019 Dec. 31 Closing 65,800 65,800 31 Closing 35,300 30,500 31 Closing 30,500 0 Linda Carter, Capital Account No. 301 Balance Date Description Debit Credit Debit Credit 2019 Dec. 1 114,000 114,000 31 Closing 30,500 144,500 31 Closing 10,500 134,100 Enter the following amounts 1. Total...
The Income Summary and Linda Carter, Capital accounts for Carter Production Company at the end of...
The Income Summary and Linda Carter, Capital accounts for Carter Production Company at the end of its accounting period follow. Income Summary Account No. 399 Balance Date Description Debit Credit Debit Credit 2019 Dec. 31 Closing 63,600 63,600 31 Closing 34,200 29,400 31 Closing 29,400 0 Linda Carter, Capital Account No. 301 Balance Date Description Debit Credit Debit Credit 2019 Dec. 1 103,000 103,000 31 Closing 29,400 132,400 31 Closing 9,300 123,100 Enter the following amounts. !. Total revenue...
The Income Summary and Linda Carter, Capltal accounts for Carter Production Company at the end of...
The Income Summary and Linda Carter, Capltal accounts for Carter Production Company at the end of its accounting period follow. Income Summary Account No. 399 Balance Date Description DebitCredit Debit Credit 2819 Dec. 31 Closing 31 Closing 31 Closing 134,880 62, 288 134,880 71,880 62, 28e inda Carter, Capital Account No. 301 Balance Date Description DebitCredit Debit Credit 2819 Dec. 31 Closing 31 Closing 248,880 62, 288 248,880 382,280 288, 280 22,880 Enter the following amounts. 1. Total revenue for...
ractice: Knowledge Check 6 Saved Hel The Income Summary and Linda Carter, Cap/ta/accounts for Carter Production...
ractice: Knowledge Check 6 Saved Hel The Income Summary and Linda Carter, Cap/ta/accounts for Carter Production Company at the end of its accounting period follow. Income Summary Account No. 399 Balance Credit Debit Credit Date Description Debit 2019 Dec. 31 Closing 31 Closing 71,800 31 Closing 62,200 134,000 134,800 62,200 Linda Carter, Capital Account No. 301 Balance Date Description Debit Credit Debit Credit 2019 Dec. 1 240,000 240,000 31 Closing 62,200 302,200 31 Closing 22,000 280, 200 Enter the following...
Practice Knowledge Check Saved 2 The Income Summary and Linda Carter, Capitel accounts for Carter Production...
Practice Knowledge Check Saved 2 The Income Summary and Linda Carter, Capitel accounts for Carter Production Company at the end of its accounting pe Income Summary Account No: 399 Balance cription Debst CreditDebidit Date Descr 2019 Dec. 31 Closing 134,000 0.33 points 31 Closing 31 Closing 71,808 62, 208 625 280 e Book Linda Carter, Capital Account No 3et Balance Date Description Debit 2019 Dec. 1 itlDebiniNIll Cnedit 31 Closing 31 Closing 240,080 62,2e0 249 800 302/286 280 284 22,800...
Record the closing entry for revenue. Record the closing entry for expenses. Record the closing entry...
Record the closing entry for revenue.
Record the closing entry for expenses.
Record the closing entry for the balance of income
summary.
Record the closing entry for the drawing account.
Problem 6.3A Journalizing and posting closing entries. LO 6-1 On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 401...
On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: $ 94,400 Dr....
On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: $ 94,400 Dr. 35,600 Dr. 8,000 Dr. 81,200 Dr. 128,000 Dr. 4,000 Cr. 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 17,000 Cr. 131,240 Cr. 16,400 Dr. 327,200 Cr. 11,600 Dr. 2,000 Dr. 9,200 Dr. 77,600 Dr. 15,440 Dr. 401 Fees Income 511 Advertising Expense 514 Depreciation Expense-Equip....
The ledger accounts of AXX Internet Company appear as follc ACCOUNT BALANCE NO. ACCOUNT $ 63,000...
The ledger accounts of AXX Internet Company appear as follc ACCOUNT BALANCE NO. ACCOUNT $ 63,000 35,660 8,900 23,300 101,000 39,620 11,300 Cash 101 Accounts Receivable 111 Supplies Prepaid Insurance 141 Equipment Accumulated Depreciation-Equipment Accounts Payable Aretha Hinkle, Capital Aretha Hinkle, Drawing 121 131 142 202 113,000 11,300 305,400 19,460 301 302 401 Fees Income 510 Depreciation Expense-Equipment Insurance Expense Rent Expense Salaries Expense Supplies Expense Telephone Expense Utilities Expense 9,700 31,300 149,000 511 514 517 3,900 5,100 7,700 518...
Journal entry number one record entry to transfer fees income to income summary. Number to record...
Journal entry
number one record entry to transfer fees income to income summary.
Number to record entry to transfer expenses to income summary.
Number three record entry to transfer net income or net loss from
income summary to Capital. Number for record entry to transfer
drawings to Capital account. General ledger post the closing
entries to the owners capital account. Trial balance prepare a
post-closing trial balance
Danos Company's partial worksheet for the month ended December 31, 2019. is shown...
General journal... 1. fee income to income summary 2. expenses yo income summary 3. net income...
General journal...
1. fee income to income summary
2. expenses yo income summary
3. net income or loss from income summary to capital
4. drawings to capital account
General Ledger. post the closing entries to owner's
capital account
Trial Balance....prepare a post closing trial
balance
Dorsey Company's partial worksheet for the month ended March 31, 2019, is shown below. Open the owner's capital account (account number 301) in the general ledger and record the March 1, 2019, balance of $38,500...
The Income Summary and Linda Carter, Capltal accounts for Carter Production Company at the end of its accounting period follow. Income Summary Account No. 399 Balance Date Description DebitCredit Debit Credit 2819 Dec. 31 Closing 31 Closing 31 Closing 134,880 62, 288 134,880 71,880 62, 28e inda Carter, Capital Account No. 301 Balance Date Description DebitCredit Debit Credit 2819 Dec. 31 Closing 31 Closing 248,880 62, 288 248,880 382,280 288, 280 22,880 Enter the following amounts. 1. Total revenue for...
ractice: Knowledge Check 6 Saved Hel The Income Summary and Linda Carter, Cap/ta/accounts for Carter Production Company at the end of its accounting period follow. Income Summary Account No. 399 Balance Credit Debit Credit Date Description Debit 2019 Dec. 31 Closing 31 Closing 71,800 31 Closing 62,200 134,000 134,800 62,200 Linda Carter, Capital Account No. 301 Balance Date Description Debit Credit Debit Credit 2019 Dec. 1 240,000 240,000 31 Closing 62,200 302,200 31 Closing 22,000 280, 200 Enter the following...
Practice Knowledge Check Saved 2 The Income Summary and Linda Carter, Capitel accounts for Carter Production Company at the end of its accounting pe Income Summary Account No: 399 Balance cription Debst CreditDebidit Date Descr 2019 Dec. 31 Closing 134,000 0.33 points 31 Closing 31 Closing 71,808 62, 208 625 280 e Book Linda Carter, Capital Account No 3et Balance Date Description Debit 2019 Dec. 1 itlDebiniNIll Cnedit 31 Closing 31 Closing 240,080 62,2e0 249 800 302/286 280 284 22,800...
Record the closing entry for revenue.
Record the closing entry for expenses.
Record the closing entry for the balance of income
summary.
Record the closing entry for the drawing account.
Problem 6.3A Journalizing and posting closing entries. LO 6-1 On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 401...
On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: $ 94,400 Dr. 35,600 Dr. 8,000 Dr. 81,200 Dr. 128,000 Dr. 4,000 Cr. 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 17,000 Cr. 131,240 Cr. 16,400 Dr. 327,200 Cr. 11,600 Dr. 2,000 Dr. 9,200 Dr. 77,600 Dr. 15,440 Dr. 401 Fees Income 511 Advertising Expense 514 Depreciation Expense-Equip....
The ledger accounts of AXX Internet Company appear as follc ACCOUNT BALANCE NO. ACCOUNT $ 63,000 35,660 8,900 23,300 101,000 39,620 11,300 Cash 101 Accounts Receivable 111 Supplies Prepaid Insurance 141 Equipment Accumulated Depreciation-Equipment Accounts Payable Aretha Hinkle, Capital Aretha Hinkle, Drawing 121 131 142 202 113,000 11,300 305,400 19,460 301 302 401 Fees Income 510 Depreciation Expense-Equipment Insurance Expense Rent Expense Salaries Expense Supplies Expense Telephone Expense Utilities Expense 9,700 31,300 149,000 511 514 517 3,900 5,100 7,700 518...
Journal entry
number one record entry to transfer fees income to income summary.
Number to record entry to transfer expenses to income summary.
Number three record entry to transfer net income or net loss from
income summary to Capital. Number for record entry to transfer
drawings to Capital account. General ledger post the closing
entries to the owners capital account. Trial balance prepare a
post-closing trial balance
Danos Company's partial worksheet for the month ended December 31, 2019. is shown...
General journal...
1. fee income to income summary
2. expenses yo income summary
3. net income or loss from income summary to capital
4. drawings to capital account
General Ledger. post the closing entries to owner's
capital account
Trial Balance....prepare a post closing trial
balance
Dorsey Company's partial worksheet for the month ended March 31, 2019, is shown below. Open the owner's capital account (account number 301) in the general ledger and record the March 1, 2019, balance of $38,500...
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