Homework Answers
| a] | CLOSING ENTIRES: | Debit | Credit |
| Services revenue | $ 21,720 | ||
| Income summary | $ 21,720 | ||
| [To close revenue accounts] | |||
| Income summary | $ 12,270 | ||
| Depreciation expense | $ 2,000 | ||
| Salaries expense | $ 6,920 | ||
| Utilities expense | $ 950 | ||
| Insurance expense | $ 400 | ||
| Supplies expense | $ 800 | ||
| Rent expense | $ 1,200 | ||
| [To close expense accounts] | |||
| Income summary | $ 9,450 | ||
| Sara Pollis, Capital | $ 9,450 | ||
| [To close income summary] | |||
| Sara Pollis, Capital | $ 4,800 | ||
| Sara Pollis, Withdrawals | $ 4,800 | ||
| [To close withdrawals account] | |||
| b] | Balance in Sara Pollis capital account after all closing entries are posted = 13925+9450-4800 = | $ 18,575 |
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4. The adjusted trial balance of Sara's Web Services follows: (30%) SARA'S WEB SERVICES Adjusted Trial...
Hey, I'm struggling on how to work this out, can someone help break this down for...
Hey, I'm struggling on how to work this out, can someone help
break this down for me?
SARA'S LAUNDRY Adjusted Trial Balance April 30, 2015 $5,400 325 11,125 Cash $ 1,170 Laundry supplies 1,930 Prepaid insurance 600 Laundry equipment 20,600 Accumulated amortization, laundry equipment Accounts payable Sara Vergara, capital Sara Vergara, withdrawals 4,800 Laundry services revenue Salaries expense 6,920 Rent expense 1,200 Utilities expense 950 Insurance expense 400 Totals $38,570 21,720 $38,570 Required: Use the above Adjusted Trial Balance to...
Below is the adjusted trail balance for Bally Services. BALLY SERVICES Adjusted Trial Balance December 31,...
Below is the adjusted trail balance for Bally Services. BALLY SERVICES Adjusted Trial Balance December 31, 2018 DR CR Cash $ 11,000 Accounts Receivable 23,500 Supplies 3,000 Prepaid Insurance 2,500 Equipment 60,000 Accumulated Depreciation- $ 33,000 Equipment Accounts Payable 5,000 Interest Payable 150 Notes Payable 5,000 Unearned Service Revenue 5,600 Salaries and Wages Payable 1,300 Common Stock 10,000 Retained Earnings 3,500 Service Revenue 63,500 Salaries and Wages Expense 11,300 Insurance Expense 850 Interest Expense 500 Depreciation Expense 5,000 Supplies Expense...
The adjusted trial balance for Jurassic Services Company at December 31, 2021 is as follows: Jurassic...
The adjusted trial balance for Jurassic Services Company at December 31, 2021 is as follows: Jurassic Services Company Adjusted Trial Balance December 31, 2021 Debit Credit Cash $21,400 Accounts receivable 1,500 Prepaid insurance 2,000 Prepaid rent 5,000 Supplies 3,330 Equipment 17,500 Accumulated depreciation-equipment $5,200 Furniture 25,000 Accumulated depreciation-furniture 4,250 Accounts payable 8,400 Salary payable 12,200 Unearned revenue 6,700 J. Jurassic, drawings 15,000 J. Jurassic, capital 58,567 Service revenue 33,500 Salary expense 24,387 Depreciation expense 4,500 Rent expense 5,500 Insurance expense...
Saved The December 31, 2017, adjusted trial balance of Business Solutions (reflecting its transactions from October...
Saved The December 31, 2017, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2017) follows Credit Debit 51,669 5,368 1,440 775 8,200 410 22,800 Account Title 101 Cash 106 Accounts receivable 126 Computer supplies 128 Prepaid insurance 131 Prepaid rent 163 Office equipment 164 Accumulated depreciation Office equipment 167 Computer equipment 168 Accumulated depreciation-Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 301 5. Rey, Capital 302 S. Rey, withdrawals...
Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3 The following adjusted...
Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3 The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2017, the end of its fiscal year. Credit Debit $18,000 12,000 2,000 23,000 $ 6,500 45, 747 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 T. Cruz, Capital 302 T. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637...
The following is the adjusted trial balance for Baker Services. Accounts Debit Credit Cash $50,700 Accounts...
The following is the adjusted trial balance for Baker Services. Accounts Debit Credit Cash $50,700 Accounts Receivable 30,000 Prepaid Insurance 6,500 Office Supplies 3,000 Land 50,000 Building 140,000 Accumulated Depreciation—Building $16,500 Equipment 76,000 Accumulated Depreciation—Equipment 7,000 Accounts Payable 27,000 Salaries Payable 3,000 Unearned Revenue 24,000 Mortgage Payable 102,000 Baker, Capital 25,500 Baker, Withdrawals 25,000 Service Revenue 290,000 Salaries Expense 63,000 Depreciation Expense—Building and Equipment 6,000 Supplies Expense 11,000 Insurance Expense 14,800 Utilities Expense 19,000 Total $495,000 $495,000 There were no...
list of accounts Sandhill Company had the following adjusted trial balance. $3,840 Sandhill Company Adjusted Trial...
list of accounts
Sandhill Company had the following adjusted trial balance. $3,840 Sandhill Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash Accounts Receivable 4,070 Supplies 400 Accounts Payable $1,700 Unearned Service Revenue 190 Owner's Capital 3,900 Owner's Drawings Service Revenue 5,920 Salaries and Wages Expense 1,300 Miscellaneous Expense 200 Supplies Expense 1,930 Salaries and Wages Payable 540 $12,250 $12,250 510 Prepare closing entries at June 30, 2020. (Credit account...
The adjusted trial balance of Karise Repairs on December 31, 2013, follows. KARISE REPAIRS Adjusted Trial...
The adjusted trial balance of Karise Repairs on December 31, 2013, follows. KARISE REPAIRS Adjusted Trial Balance December 31, 2013 No. Account Title Debit Credit $ 14,000 1,300 2,050 50,000 $ 5,000 14,000 600 33,000 101 124 128 167 168 201 210 301 302 401 612 623 637 640 650 690 Cash ..................... Office supplies............... Prepaid insurance ............ Equipment ............. .. Accumulated depreciation-Equipment ........ Accounts payable ......... Wages payable ....... C. Karise, Capital ................ C. Karise, Withdrawals ............. Repair fees...
The adjusted trial balance for Blossom Company, owned by D. Blossom, are as follows: BLOSSOM COMPANY...
The adjusted trial balance for Blossom Company, owned by D. Blossom, are as follows: BLOSSOM COMPANY Adjusted Trial Balance December 31, 2021 Adjusted Trial Balance Account No. Account Titles Dr. Cr. 101 Cash $4,000 112 Accounts receivable 9,500 126 Supplies 200 130 Prepaid insurance 700 157 Equipment 25,700 158 Accumulated depreciation—equipment $4,300 200 Notes payable 13,700 201 Accounts payable 4,800 212 Salaries payable 1,100 230 Interest payable 470 301 D. Blossom, capital 5,200 306 D. Blossom, drawings 5,700 400 Service...
Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3 The following adjusted...
Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3 The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2017, the end of its fiscal year. No Account Title Debit Credit 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipment 301 T. Cruz, Capital 302 T. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 salaries expense 637 Insurance expense 640 Rent expense 652 Supplies...
Hey, I'm struggling on how to work this out, can someone help
break this down for me?
SARA'S LAUNDRY Adjusted Trial Balance April 30, 2015 $5,400 325 11,125 Cash $ 1,170 Laundry supplies 1,930 Prepaid insurance 600 Laundry equipment 20,600 Accumulated amortization, laundry equipment Accounts payable Sara Vergara, capital Sara Vergara, withdrawals 4,800 Laundry services revenue Salaries expense 6,920 Rent expense 1,200 Utilities expense 950 Insurance expense 400 Totals $38,570 21,720 $38,570 Required: Use the above Adjusted Trial Balance to...
Below is the adjusted trail balance for Bally Services. BALLY SERVICES Adjusted Trial Balance December 31, 2018 DR CR Cash $ 11,000 Accounts Receivable 23,500 Supplies 3,000 Prepaid Insurance 2,500 Equipment 60,000 Accumulated Depreciation- $ 33,000 Equipment Accounts Payable 5,000 Interest Payable 150 Notes Payable 5,000 Unearned Service Revenue 5,600 Salaries and Wages Payable 1,300 Common Stock 10,000 Retained Earnings 3,500 Service Revenue 63,500 Salaries and Wages Expense 11,300 Insurance Expense 850 Interest Expense 500 Depreciation Expense 5,000 Supplies Expense...
Saved The December 31, 2017, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2017) follows Credit Debit 51,669 5,368 1,440 775 8,200 410 22,800 Account Title 101 Cash 106 Accounts receivable 126 Computer supplies 128 Prepaid insurance 131 Prepaid rent 163 Office equipment 164 Accumulated depreciation Office equipment 167 Computer equipment 168 Accumulated depreciation-Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 301 5. Rey, Capital 302 S. Rey, withdrawals...
Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3 The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2017, the end of its fiscal year. Credit Debit $18,000 12,000 2,000 23,000 $ 6,500 45, 747 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 T. Cruz, Capital 302 T. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637...
list of accounts
Sandhill Company had the following adjusted trial balance. $3,840 Sandhill Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash Accounts Receivable 4,070 Supplies 400 Accounts Payable $1,700 Unearned Service Revenue 190 Owner's Capital 3,900 Owner's Drawings Service Revenue 5,920 Salaries and Wages Expense 1,300 Miscellaneous Expense 200 Supplies Expense 1,930 Salaries and Wages Payable 540 $12,250 $12,250 510 Prepare closing entries at June 30, 2020. (Credit account...
The adjusted trial balance of Karise Repairs on December 31, 2013, follows. KARISE REPAIRS Adjusted Trial Balance December 31, 2013 No. Account Title Debit Credit $ 14,000 1,300 2,050 50,000 $ 5,000 14,000 600 33,000 101 124 128 167 168 201 210 301 302 401 612 623 637 640 650 690 Cash ..................... Office supplies............... Prepaid insurance ............ Equipment ............. .. Accumulated depreciation-Equipment ........ Accounts payable ......... Wages payable ....... C. Karise, Capital ................ C. Karise, Withdrawals ............. Repair fees...
Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3 The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2017, the end of its fiscal year. No Account Title Debit Credit 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipment 301 T. Cruz, Capital 302 T. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 salaries expense 637 Insurance expense 640 Rent expense 652 Supplies...
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