Homework Answers
| DR | CR | |
| Sales | 390450 | |
| Income Summary | 390450 | |
| (Sales account closed and transferred to income summary a/c) | ||
| Income Summary | 360350 | |
| Cost of sales | 280150 | |
| Wages Expense | 70000 | |
| Rent Expense | 2000 | |
| Miscellaneous Expense | 8200 | |
| (Expense account closed and transferred to income summary a/c) | ||
| Income Summary | 30100 | |
| Retained Earnings | 30100 | |
| (Income summary account closed (390450-360350=30100) and transferred to retained earning a/c) |
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Number 4
er the accounts have been adjusted at July 31, the end of the fiscal...
5 After the accounts have been adjusted at July 31, the end of the fiscal year,...
5 After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances are taken from the ledger of Cabriolet Services Co. $615,850 Terry Lambert, Capital Fees Earned 330,450 Wages Expense 220,000 63,000 Rent Expense Supplies Expense 18,250 Miscellaneous Expense 6,200 Journalize the entries required to close the accounts.
4 After the accounts have been adjusted at July 31, the end of the fiscal year,...
4 After the accounts have been adjusted at July 31, the end of the fiscal year, the ollowing 390.450 Sales The cost of sales 280,150 Wages Expense 70,000 20,000 Miscellaneous Expense &8200 Josmalize the entries required to close the accousts Eipmen squired at the beginning of the year at a oost of $125,000 hs as esimuted residual value of $5,000 and an estimated useful life of 5 years. Die yar's depreciation (23 pereent)
After the accounts have been adjusted at January 31, the end of the fiscal year, the...
After the accounts have been adjusted at January 31, the end of the fiscal year, the following balances are taken from the ledger of Harrison's Dog Walking Service Company: Retained Earnings $354,030 Dividends 6,060 Fees Eamed 124,010 Wages Expense 47,510 Rent Expense 15,690 Supplies Expense 15,950 Miscellaneous Expense 1,790 < Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank Jan. 31 Tees Earned Wages Expense Rent Expense Supplies...
Closing Entries After the accounts have been adjusted at May 31, the end of the fiscal...
Closing Entries After the accounts have been adjusted at May 31, the end of the fiscal year, the following balances were taken from the ledger of Beautifying Landscaping Co.: Retained Earnings $717,750 Dividends 28,000 Fees Earned 644,845 Wages Expense 435,000 Rent Expense 104,400 Supplies Expense 39,150 Miscellaneous Expense 13,050 Calculator Dividends 28,000 Fees Eamed 644,845 Wages Expense 435,000 Rent Expense 104,400 Supplies Expense 39,150 Miscellaneous Expense 13,050 Journalize the two entries required to close the accounts. If an amount box...
Closing Entries After the accounts have been adjusted at November 30, the end of the fiscal...
Closing Entries
After the accounts have been adjusted at November 30, the end of
the fiscal year, the following balances were taken from the ledger
of Diamond Landscaping Co.:
Retained Earnings
$2,550,000
Dividends
25,000
Fees Earned
1,150,000
Wages Expense
613,750
Rent Expense
120,000
Supplies Expense
9,150
Miscellaneous Expense
11,000
Journalize the two entries required to close the accounts. If an
amount box does not require an entry, leave it blank.
Closing Entries After the accounts have been adjusted at November...
After the accounts have been adjusted at December 31, the end of the fiscal year, the...
After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Pioneer Delivery Services Co.: Kerry Buckner, Capital $3,513,000 Kerry Buckner, Drawing 42,500 Fees Earned 1,324,000 Wages Expense 749,100 Rent Expense 68,800 Supplies Expense 14,600 Miscellaneous Expense 7,350 Required: Journalize the two entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS Pioneer Delivery Services Co....
Closing Entries After the accounts have been adjusted at April 30, the end of the fiscal...
Closing Entries After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.: Felix Godwin, Capital $685,260 Felix Godwin, Drawing 39,000 Fees Earned 558,000 Wages Expense 423,000 Rent Expense 101,500 Supplies Expense 38,070 Miscellaneous Expense 12,690 Journalize the two entries required to close the accounts. For a compound transaction, if an amount box does not require an entry, leave it blank. Apr. 30 Apr....
Instructions After the accounts have been adjusted at December 31, the end of the fiscal year,...
Instructions After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Pioneer Delivery Services Co.: Kerry Buckner, Capital Kerry Buckner, Drawing Fees Earned Wages Expenso Rent Expense Supplies Expense Miscellaneous Expense $9,556,300 80,000 1,878,400 1,415,500 125,000 30,600 22,100 Required: Journalize the two entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS Pioneer Delivery Services...
journal after the accounts have been adjusted at December 31, the end of the fiscal year,...
journal after the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Pioneer Delivery Services Co. Kerry Buckner, capital. 9,556,300 Kerry Buckner, drawing. 80,000 Fees earned 1,878,400 Wages expense. 1,415,500 Rent expense. 125,000 Supplies Expense 30,000 Miscellaneous expense. 22,100
After the accounts have been adjusted at January 31, the end of the year, the following...
After the accounts have been adjusted at January 31, the end of the year, the following balances are taken from the ledger of Harrison's Dog Walking Service Company: Harrison Taylor, Capital $352,150 Harrison Taylor, Drawing 14,640 Fees Earned 120,020 Wages Expense 41,510 Rent Expense 14,780 Supplies Expense 14,010 Miscellaneous Expense 1,900 Required: Journalize the entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles.
5 After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances are taken from the ledger of Cabriolet Services Co. $615,850 Terry Lambert, Capital Fees Earned 330,450 Wages Expense 220,000 63,000 Rent Expense Supplies Expense 18,250 Miscellaneous Expense 6,200 Journalize the entries required to close the accounts.
4 After the accounts have been adjusted at July 31, the end of the fiscal year, the ollowing 390.450 Sales The cost of sales 280,150 Wages Expense 70,000 20,000 Miscellaneous Expense &8200 Josmalize the entries required to close the accousts Eipmen squired at the beginning of the year at a oost of $125,000 hs as esimuted residual value of $5,000 and an estimated useful life of 5 years. Die yar's depreciation (23 pereent)
After the accounts have been adjusted at January 31, the end of the fiscal year, the following balances are taken from the ledger of Harrison's Dog Walking Service Company: Retained Earnings $354,030 Dividends 6,060 Fees Eamed 124,010 Wages Expense 47,510 Rent Expense 15,690 Supplies Expense 15,950 Miscellaneous Expense 1,790 < Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank Jan. 31 Tees Earned Wages Expense Rent Expense Supplies...
Closing Entries After the accounts have been adjusted at May 31, the end of the fiscal year, the following balances were taken from the ledger of Beautifying Landscaping Co.: Retained Earnings $717,750 Dividends 28,000 Fees Earned 644,845 Wages Expense 435,000 Rent Expense 104,400 Supplies Expense 39,150 Miscellaneous Expense 13,050 Calculator Dividends 28,000 Fees Eamed 644,845 Wages Expense 435,000 Rent Expense 104,400 Supplies Expense 39,150 Miscellaneous Expense 13,050 Journalize the two entries required to close the accounts. If an amount box...
Closing Entries
After the accounts have been adjusted at November 30, the end of
the fiscal year, the following balances were taken from the ledger
of Diamond Landscaping Co.:
Retained Earnings
$2,550,000
Dividends
25,000
Fees Earned
1,150,000
Wages Expense
613,750
Rent Expense
120,000
Supplies Expense
9,150
Miscellaneous Expense
11,000
Journalize the two entries required to close the accounts. If an
amount box does not require an entry, leave it blank.
Closing Entries After the accounts have been adjusted at November...
Instructions After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Pioneer Delivery Services Co.: Kerry Buckner, Capital Kerry Buckner, Drawing Fees Earned Wages Expenso Rent Expense Supplies Expense Miscellaneous Expense $9,556,300 80,000 1,878,400 1,415,500 125,000 30,600 22,100 Required: Journalize the two entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS Pioneer Delivery Services...
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