Homework Answers
Adjusting entry
| No | general journal | Debit | Credit |
| a | Depreciation expense | 4600 | |
| Accumulated depreciation-equipment | 4600 | ||
| b | Salaries expense | 1400 | |
| Salaries payable | 1400 | ||
| c | Interest expense | 390 | |
| Interest payable (13000*9%*4/12) | 390 | ||
| d | Supplies expense | 740 | |
| Supplies (1300-560) | 740 | ||
| e | Rent expense (460*9) | 4140 | |
| Prepaid rent | 4140 | ||
| f | Utilities expense | 300 | |
| Utilities payable | 300 | ||
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Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted...
Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted...
Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year-end. Credits Debits $ 40,300 12,500 0 5,000 10, 200 108,000 50,000 Accounts Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Totals...
Problem 2-8 (Algo) Adjusting entries [LO2-6] Excalibur Corporation sells video games for personal computers. The unadjusted...
Problem 2-8 (Algo) Adjusting entries [LO2-6] Excalibur Corporation sells video games for personal computers. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company’s reporting year-end. The company uses the perpetual inventory system. Account Title Debits Credits Cash 22,700 Accounts receivable 31,900 Supplies 0 Prepaid rent 0 Inventory 59,000 Office equipment 66,150 Accumulated depreciation 9,400 Accounts payable 25,500 Salaries payable 2,400 Notes payable 24,000 Common stock 74,000 Retained earnings 20,600 Dividends 9,200 Sales revenue...
Check my work 9 Howarth Company's fiscal year-end is December 31. Below are the unadjusted and...
Check my work 9 Howarth Company's fiscal year-end is December 31. Below are the unadjusted and adjusted trial balances for December 31, 2018 Unadjusted idjusted Debits Credits Debits Credits Account Title Cash Accounts receivable Prepaid rent Supplies Inventory Note receivable Interest receivable Office equipment Accumulated depreciation Accounts payable Salaries and wages payable Note payable Interest payable Deferred rent revenue Common stock Retained earnings Sales revenue Rent revenue Interest revenue Cost of goods sold Salaries and wages expense Rent expense Depreciation...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below. Debit Credit...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below. Debit Credit Cash Accounts Recelvable Prepaid Rent S 9,600 14,600 6,720 3,600 Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 2,600 10,000 5,600 49,320 33,000 $67,520 $67,520 At year-end, the following additional information is available a. The balance of Prepaid Rent, $6,720, represents payment on October 31, 2018, for rent from November 1, 2018, to April 30, 2019. b. The balance of Deferred...
Howarth Company’s fiscal year-end is December 31. Below are the unadjusted and adjusted trial balances for...
Howarth Company’s fiscal year-end is December 31. Below are the unadjusted and adjusted trial balances for December 31, 2018. Unadjusted Adjusted Account Title Debits Credits Debits Credits Cash 41,000 41,000 Accounts receivable 26,000 26,000 Prepaid rent 1,575 1,000 Supplies 1,175 700 Inventory 51,000 51,000 Note receivable 49,000 49,000 Interest receivable 0 2,450 Office equipment 36,000 36,000 Accumulated depreciation 15,900 20,600 Accounts payable 25,000 25,000 Salaries and wages payable 0 5,300 Note payable 41,000 41,000 Interest payable 0 1,600 Deferred rent...
December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 31,600...
December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 31,600 41,000 2,000 61,000 21,000 2,400 6,500 84,000 31,500 32,000 51,000 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance...
[The following information applies to the questions displayed below.] North Star prepared the following unadjusted trial...
[The following information applies to the questions displayed below.] North Star prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. Debit $11.800 5,800 2,360 20,800 1,120 , 120 Account Titles Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Income Tax Payable Common Stock Retained Earnings Sales Revenue Salaries and Wages Expense Utilities Expense Rent Expense Depreciation Expense Income Tax Expense Totals 24,600 1,900 49. 12e 24,800 see Other data...
Required Information (The following information applies to the questions displayed below.] Jaguar Auto Company provides general...
Required Information (The following information applies to the questions displayed below.] Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018. trial balance (before any adjusting entries) appears below. Credits Debits $ 16,500 13.900 21.500 17,400 84.000 $ 26,500 10.900 Accounts Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreciation...
6 Required Information (The following information applies to the questions displayed below.] Jaguar Auto Company provides...
6
Required Information (The following information applies to the questions displayed below.] Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018. trial balance (before any adjusting entries) appears below. Credits Debits $ 16,500 13.900 21.500 17,400 84.000 $ 26,500 10.900 Accounts Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense...
Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31....
Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018, trial balance (before any adjusting entries) appears below. Accounts Debits Credits Cash $ 15,500 Accounts Receivable 13,700 Supplies 20,500 Prepaid Insurance 16,200 Equipment 82,000 Accumulated $ 25,500 Depreciation Accounts Payable 10,700 Salaries Payable Utilities Payable Interest Payable Notes Payable 28,500 Common Stock 22,000 Retained Earnings 8,700 Dividends 1,700 Service Revenue 216,400 Salaries Expense 151,500 Depreciation Expense 0 Insurance Expense 0...
Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year-end. Credits Debits $ 40,300 12,500 0 5,000 10, 200 108,000 50,000 Accounts Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Totals...
Check my work 9 Howarth Company's fiscal year-end is December 31. Below are the unadjusted and adjusted trial balances for December 31, 2018 Unadjusted idjusted Debits Credits Debits Credits Account Title Cash Accounts receivable Prepaid rent Supplies Inventory Note receivable Interest receivable Office equipment Accumulated depreciation Accounts payable Salaries and wages payable Note payable Interest payable Deferred rent revenue Common stock Retained earnings Sales revenue Rent revenue Interest revenue Cost of goods sold Salaries and wages expense Rent expense Depreciation...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below. Debit Credit Cash Accounts Recelvable Prepaid Rent S 9,600 14,600 6,720 3,600 Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 2,600 10,000 5,600 49,320 33,000 $67,520 $67,520 At year-end, the following additional information is available a. The balance of Prepaid Rent, $6,720, represents payment on October 31, 2018, for rent from November 1, 2018, to April 30, 2019. b. The balance of Deferred...
December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 31,600 41,000 2,000 61,000 21,000 2,400 6,500 84,000 31,500 32,000 51,000 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance...
[The following information applies to the questions displayed below.] North Star prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. Debit $11.800 5,800 2,360 20,800 1,120 , 120 Account Titles Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Income Tax Payable Common Stock Retained Earnings Sales Revenue Salaries and Wages Expense Utilities Expense Rent Expense Depreciation Expense Income Tax Expense Totals 24,600 1,900 49. 12e 24,800 see Other data...
Required Information (The following information applies to the questions displayed below.] Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018. trial balance (before any adjusting entries) appears below. Credits Debits $ 16,500 13.900 21.500 17,400 84.000 $ 26,500 10.900 Accounts Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreciation...
6
Required Information (The following information applies to the questions displayed below.] Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018. trial balance (before any adjusting entries) appears below. Credits Debits $ 16,500 13.900 21.500 17,400 84.000 $ 26,500 10.900 Accounts Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense...
Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018, trial balance (before any adjusting entries) appears below. Accounts Debits Credits Cash $ 15,500 Accounts Receivable 13,700 Supplies 20,500 Prepaid Insurance 16,200 Equipment 82,000 Accumulated $ 25,500 Depreciation Accounts Payable 10,700 Salaries Payable Utilities Payable Interest Payable Notes Payable 28,500 Common Stock 22,000 Retained Earnings 8,700 Dividends 1,700 Service Revenue 216,400 Salaries Expense 151,500 Depreciation Expense 0 Insurance Expense 0...
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