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Closing Entries 36. Close the revenue accounts. 37. Close the expense accounts. 38. Close the income...
income statement and balance sheet D G H. For Perlod Ending June 30, 2019 Account mer...
income statement and balance sheet
D G H. For Perlod Ending June 30, 2019 Account mer Name 110 Cash 120 Accounts Receivable 130 Prepaid Insurance 140 Prepaid Rent 150 Ofice Supplies 211 Ofice Equip. 1212 Accum. Depr-Office Equip. 1311 Computer Equp. 1312 Accum Depr Computer Equip 1411 Balding Cost 1412 Accum. Depr-Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103erest Payable 21051 Salanes Payable 2106income Taxes Payable 2201 Mongage Payable 2202 Notes Payable 3100 Cepital Stock 32001Ratained Eamings 33001Dvidends...
Closing Entries with Net Income After all revenue and expense accounts have been closed at the...
Closing Entries with Net Income After all revenue and expense accounts have been closed at the end of the fiscal year, Income Summary has a debit of $2,450,000 and a credit of $3,000,000. At the same date, Retained Earnings has a credit balance of $8,222,600, and Dividends has a balance of $125,000. a. Journalize the entries required to (1) close net income or net loss and (2) close the Dividends account. 1 2 b. Determine the amount of Retained Earnings...
Prepare Journal entries(1-39) with transactions and list of accounts given Number Name 1110 Cash 1120 Accounts...
Prepare Journal entries(1-39) with transactions
and list of accounts given
Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1211 Office Equip. 1212 Accum. Depr.-Office Equip. 1311 Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building Cost 1412 Accum. Depr.-Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2106 Income Taxes Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Capital Stock 3200 Retained Earnings 3300 Dividends 3400 Income...
36. June 30:Income taxes are to be computed at the rate of 25 percent of net...
36. June 30:Income taxes are to be computed at the rate of 25 percent of net income before taxes. [IMPORTANT NOTE: Since the income taxes are a percent of the net income you will want to prepare the Income Statements through the Net Income Before Tax line. The worksheet contains all of the accounts and their balances which you can then transfer to the appropriate financial statement.] Closing Entries 37. Close the revenue accounts. 38. Close the expense accounts. 39....
Hello, I need help with the journal entries for transactions 29, 34, 35, 37, and 38....
Hello, I need help with the journal entries for transactions 29,
34, 35, 37, and 38.
01. June 1: Byte issued 2,660 shares of common stock to Lisa after
$28,600 in cash and computer equip with a fair market value of
$40,560 were received.
02. June 1: Byte issued 2,282 of it's common stock after
acquiring from Andrew $48,100 in cash, computer equipment with a
FMV of $10,920 and office equip with a FMV of $676
03. June 1: Byte...
<div class=""><p dir="ltr">What are the proper descriptions for these journal entries?<br/></p> <div style="font-family:Aspira;color:#333333;" align="left"> <p dir="ltr"><img src="//img.homeworklib.co...
What are the proper descriptions for these journal
entries?
Byte of Accounting, Inc. Peyton Tavlor 7864 Transaction Description of transaction June 1: Byte of Accounting, Inc. acquired $70,200 in cash from Lauryn and issued 2,600 shares of is common stock June 1: Byte of Accounting, Inc. issued 2,580 shares of its common stock to Peyton Taylor after $29,430 in cash and computer equipment with a fair market value of $40,230 wore received lune 1: Byte of Accounting, Inc. issued 1,920...
Accounting Extra Credit Problem Adjusting Entries, Closing Entries, Reversing Entries, and Effectspn Individual Accounts, Income Statement,...
Accounting Extra Credit Problem Adjusting Entries, Closing Entries, Reversing Entries, and Effectspn Individual Accounts, Income Statement, and Balance Sheet Note: Miracle Garden Supply uses a seriedis inventory system The workbook includes a partial worksheet consisting of: (1) An Unadjusted Trial Balance (2) Year-end Adjustments (3) An Adjusted Trial Balance The year-end adjusting journal entries (AJES) have already been recorded; each AJE is identified by a lower case letter in parenthesis (for example, (a), (b)(c) (d), etc.). When the requirement asks...
Can you help me with #15, 34, 35, 37, 38, 42, 45, 48, 49 and 50:...
Can you help me with #15, 34, 35, 37, 38, 42, 45, 48, 49 and 50:
close the revenue account, 51: close the expense accounts, 52:
close the dividend account. THANK YOU
02. December 3: Byte purchased a Ricoh Color Copier for $5,000.00. The invoice number was 61298. Byte paid 10% in cash and signed a three-year note for the remaining balance. Interest at a rate of 6% a year will be paid semiannually. 03. December 3: Check # 6001...
i need help finding #32 & statement in changes of retained earnings Byte of Accounting, Inc....
i need help finding #32 & statement in changes of retained
earnings
Byte of Accounting, Inc. Description of transaction June 1: Byte of Accounting, Inc. issued 2.660 shares of its common stock to Jeremy after $29,700 in cash and computer equipment with a fair market value of $42.120 were received June 1: Byte of Accounting, Inc. issued 2.562 shares of its common stock after acquiring from Courtney $55.350 in cash, computer equipment with a fair market value of $12.960 and...
income statement and balance sheet
D G H. For Perlod Ending June 30, 2019 Account mer Name 110 Cash 120 Accounts Receivable 130 Prepaid Insurance 140 Prepaid Rent 150 Ofice Supplies 211 Ofice Equip. 1212 Accum. Depr-Office Equip. 1311 Computer Equp. 1312 Accum Depr Computer Equip 1411 Balding Cost 1412 Accum. Depr-Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103erest Payable 21051 Salanes Payable 2106income Taxes Payable 2201 Mongage Payable 2202 Notes Payable 3100 Cepital Stock 32001Ratained Eamings 33001Dvidends...
Closing Entries with Net Income After all revenue and expense accounts have been closed at the end of the fiscal year, Income Summary has a debit of $2,450,000 and a credit of $3,000,000. At the same date, Retained Earnings has a credit balance of $8,222,600, and Dividends has a balance of $125,000. a. Journalize the entries required to (1) close net income or net loss and (2) close the Dividends account. 1 2 b. Determine the amount of Retained Earnings...
Prepare Journal entries(1-39) with transactions
and list of accounts given
Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1211 Office Equip. 1212 Accum. Depr.-Office Equip. 1311 Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building Cost 1412 Accum. Depr.-Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2106 Income Taxes Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Capital Stock 3200 Retained Earnings 3300 Dividends 3400 Income...
36. June 30:Income taxes are to be computed at the rate of 25 percent of net income before taxes. [IMPORTANT NOTE: Since the income taxes are a percent of the net income you will want to prepare the Income Statements through the Net Income Before Tax line. The worksheet contains all of the accounts and their balances which you can then transfer to the appropriate financial statement.] Closing Entries 37. Close the revenue accounts. 38. Close the expense accounts. 39....
Hello, I need help with the journal entries for transactions 29,
34, 35, 37, and 38.
01. June 1: Byte issued 2,660 shares of common stock to Lisa after
$28,600 in cash and computer equip with a fair market value of
$40,560 were received.
02. June 1: Byte issued 2,282 of it's common stock after
acquiring from Andrew $48,100 in cash, computer equipment with a
FMV of $10,920 and office equip with a FMV of $676
03. June 1: Byte...
What are the proper descriptions for these journal
entries?
Byte of Accounting, Inc. Peyton Tavlor 7864 Transaction Description of transaction June 1: Byte of Accounting, Inc. acquired $70,200 in cash from Lauryn and issued 2,600 shares of is common stock June 1: Byte of Accounting, Inc. issued 2,580 shares of its common stock to Peyton Taylor after $29,430 in cash and computer equipment with a fair market value of $40,230 wore received lune 1: Byte of Accounting, Inc. issued 1,920...
Accounting Extra Credit Problem Adjusting Entries, Closing Entries, Reversing Entries, and Effectspn Individual Accounts, Income Statement, and Balance Sheet Note: Miracle Garden Supply uses a seriedis inventory system The workbook includes a partial worksheet consisting of: (1) An Unadjusted Trial Balance (2) Year-end Adjustments (3) An Adjusted Trial Balance The year-end adjusting journal entries (AJES) have already been recorded; each AJE is identified by a lower case letter in parenthesis (for example, (a), (b)(c) (d), etc.). When the requirement asks...
Can you help me with #15, 34, 35, 37, 38, 42, 45, 48, 49 and 50:
close the revenue account, 51: close the expense accounts, 52:
close the dividend account. THANK YOU
02. December 3: Byte purchased a Ricoh Color Copier for $5,000.00. The invoice number was 61298. Byte paid 10% in cash and signed a three-year note for the remaining balance. Interest at a rate of 6% a year will be paid semiannually. 03. December 3: Check # 6001...
i need help finding #32 & statement in changes of retained
earnings
Byte of Accounting, Inc. Description of transaction June 1: Byte of Accounting, Inc. issued 2.660 shares of its common stock to Jeremy after $29,700 in cash and computer equipment with a fair market value of $42.120 were received June 1: Byte of Accounting, Inc. issued 2.562 shares of its common stock after acquiring from Courtney $55.350 in cash, computer equipment with a fair market value of $12.960 and...
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