Homework Answers
Answer
- Post closing trial balance is prepared after all the temporary accounts are closed.
- Temporary accounts include revenue accounts, expense accounts, dividend account etc.
- These temporary accounts will not appear in the post closing trial balance.
- Correct Answer = Option #3: Fees Income account will not appear on a post closing trial balance because it’s a temporary revenue account.
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i need help with this question
A post-closing trial balance could include all of the following...
Which of the following accounts will appear on the post-closing trial balance? Multiple Choice The owner's...
Which of the following accounts will appear on the post-closing trial balance? Multiple Choice The owner's drawing account Fees Income The owner's capital account Rent Expense
prepare a post closing trial balance Question 2 Cullumber Company had the following adjusted trial balance....
prepare a post closing trial balance
Question 2 Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,570 Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 $12,500 O DO 170 N O $ U J.UU ) Prepare...
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...
a) Prepare Closing entries b) Post adjusting and closing entries (just need help with owner's capital...
a) Prepare Closing entries
b) Post adjusting and closing entries (just need help
with owner's capital & Income Summary)
c) Prepare a post-closing trial balance
d) Determine whether the subsidiary ledgers agree with
the control accounts in the general ledger
Prepare a trial balance at January 31, 2020, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information. 1. Office supplies at January 31 total $900. 2. Insurance coverage expires on October 31, 2020....
Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial...
Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial Balance July 31, 20Y0 Debit Balances Credit Balances Cash 10,400 Accounts Receivable 23,090 Supplies 1,460 Equipment 102,860 Accumulated Depreciation—Equipment 34,320 Accounts Payable 12,480 Salaries Payable 1,140 Unearned Rent 4,680 Common Stock 13,500 Retained Earnings 71,690 170,160 105,460 Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct. If an amount box does not require...
I need help with the journal entries, adjusting entries, classified balance sheet and the post closing...
I need help with the journal entries, adjusting
entries, classified balance sheet and the post closing balance
PTUDlen. Laura Eddy opened Eddy's Carpet Cleaners on March 1. During March, the following transactions were completed. Mar 1 3 14 18 Invested $10,000 cash in the business. Purchased used truck for $6,000, paying $3,000 cash and the balance on account. Purchased cleaning supplies for $1,200 on account. Pald $1,200 cash on one-year insurance policy effective March 1. Billed customers $4,800 for cleaning...
Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial...
Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial Balance July 31, 2018 Debit Balances 18,000 39,960 Credit Balances Cash Accounts Receivable Supplies 2,520 178,020 Equipment Accumulated Depreciation - Equipment 59,400 21,600 Accounts Payable Salaries Payable 1,980 Unearned Rent 8,100 Common Stock 13,500 Retained Earnings 133,920 294,480 182,520 Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct. If an amount box does...
Identifying Permanent Accounts Which of the following accounts will usually appear in the post-closing trial balance?
Identifying Permanent Accounts Which of the following accounts will usually appear in the post-closing trial balance? a. Accounts Receivable b. Cash c. Depreciation Expense d. Fees Earned e. Doug Woods, Capital f. Doug Woods, Drawing g. Equipment h. Land i. Salaries Payable j. Unearned Rent k. Wages Expense
could some help me with the post-closing entries and post-closing trial balance? Could you please try...
could some help me with the post-closing entries and
post-closing trial balance? Could you please try to stay within the
same format. Thank You.
reply to: need time
im cinfuzed in your question do you mean the like when these
are being closed. which is Dec 31. or do you mean it will take yoh
some time?
General Ledger Interest Receivable Debit Credit 0 Notes Receivable Debit Credit 15000 0 Trial Balance Total 0 Cash Debit Credit 115000 62000 4350...
Activity 2.a - Preparing a Post-Closing Trial Balance Fill out the Post-Closing Trial Balance as of...
Activity 2.a - Preparing a Post-Closing Trial Balance Fill out the Post-Closing Trial Balance as of December 31, 2016 date using the given information in the T-accounts. Enter accounts in Chart of Accounts order. Prepaid Rent Dec. 31 3,800 Bal. 3,800 Bright, Capital 19,000 Dec. 31 19,000 Bal. Salaries Payable 2,900 Dec. 31 2,900 Bal. Top of Form SMART TOUCH LEARNING Post-Closing Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash 19,700 Accounts Receivable 13,100 Prepaid Rent Furniture...
Which of the following accounts will appear on the post-closing trial balance? Multiple Choice The owner's drawing account Fees Income The owner's capital account Rent Expense
prepare a post closing trial balance
Question 2 Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,570 Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 $12,500 O DO 170 N O $ U J.UU ) Prepare...
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...
a) Prepare Closing entries
b) Post adjusting and closing entries (just need help
with owner's capital & Income Summary)
c) Prepare a post-closing trial balance
d) Determine whether the subsidiary ledgers agree with
the control accounts in the general ledger
Prepare a trial balance at January 31, 2020, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information. 1. Office supplies at January 31 total $900. 2. Insurance coverage expires on October 31, 2020....
I need help with the journal entries, adjusting
entries, classified balance sheet and the post closing balance
PTUDlen. Laura Eddy opened Eddy's Carpet Cleaners on March 1. During March, the following transactions were completed. Mar 1 3 14 18 Invested $10,000 cash in the business. Purchased used truck for $6,000, paying $3,000 cash and the balance on account. Purchased cleaning supplies for $1,200 on account. Pald $1,200 cash on one-year insurance policy effective March 1. Billed customers $4,800 for cleaning...
Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial Balance July 31, 2018 Debit Balances 18,000 39,960 Credit Balances Cash Accounts Receivable Supplies 2,520 178,020 Equipment Accumulated Depreciation - Equipment 59,400 21,600 Accounts Payable Salaries Payable 1,980 Unearned Rent 8,100 Common Stock 13,500 Retained Earnings 133,920 294,480 182,520 Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct. If an amount box does...
Identifying Permanent Accounts Which of the following accounts will usually appear in the post-closing trial balance? a. Accounts Receivable b. Cash c. Depreciation Expense d. Fees Earned e. Doug Woods, Capital f. Doug Woods, Drawing g. Equipment h. Land i. Salaries Payable j. Unearned Rent k. Wages Expense
could some help me with the post-closing entries and
post-closing trial balance? Could you please try to stay within the
same format. Thank You.
reply to: need time
im cinfuzed in your question do you mean the like when these
are being closed. which is Dec 31. or do you mean it will take yoh
some time?
General Ledger Interest Receivable Debit Credit 0 Notes Receivable Debit Credit 15000 0 Trial Balance Total 0 Cash Debit Credit 115000 62000 4350...
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