Write the closing entry for the Dividends account that has a $1,000 credit balance. Date Accounts...
Homework Answers
| Journal entries | |||
| Date | General Journal | DEBIT ($) | CREDIT ($) |
| Retained Earnings | 1,000.00 | ||
| Dividends | 1,000.00 | ||
| (To close dividend account) | |||
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Write the closing entry for the Dividends account that has a
$1,000 credit balance.
Date
Accounts...
Write the closing entry for the Service Revenue account that has a $10,000 credit balance. Date...
Write the closing entry for the Service Revenue account that has a $10,000 credit balance. Date Accounts and Explanation Debit Write the closing entry for the Service Revenue account that has a $10,000 credit balance. Date Accounts and Explanation Debit Credit
The Retained earnings account has a credit balance of $44.000 before closing entries are made
The Retained earnings account has a credit balance of $44,000 before closing entries are made. Total revenues for the period are $62,200, total expenses are $43,300, and dividends are $11,800. What is the correct closing entry for the expense accounts? Multiple Choice Debit Income Summary $43,300; credit Retained earnings $43,300. Credit Expense accounts $43,300; debit Retained earnings $43,300. Debit Income Summary $43.300: credit Expense accounts $43.300. Debit Expense accounts $43,300; credit Income Summary $43,300. Debit Expense accounts $44,000; credit Retained eamings $44,000.
The Retained earnings account has a credit balance of $53,000 before closing entries are made. Total...
The Retained earnings account has a credit balance of $53,000 before closing entries are made. Total revenues for the period are $71,200, total expenses are $47,800, and dividends are $15,400. What is the correct closing entry for the expense accounts? Multiple Choice Debit Expense accounts $53,000; credit Retained earnings $53,000. Debit Income Summary $47,800, credit Expense accounts $47,800. Debit Income Summary $47,800; credit Retained earnings $47,800. Credit Expense accounts $47,800, debit Retained earnings $47,800. Debit Expense accounts $47,800; credit Income Summary $47,800.
Record the closing entry for revenue. Record the closing entry for expenses. Record the closing entry...
Record the closing entry for revenue.
Record the closing entry for expenses.
Record the closing entry for the balance of income
summary.
Record the closing entry for the drawing account.
Exercise 6.6 Closing entries. LO 6-1 The ledger accounts of AXX Internet Company appear as follows on March 31, 2019: ACCOUNT NO. ACCOUNT 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Insurance 141 Equipment 142 Accumulated Depreciation-Equipment 202 Accounts Payable 301 Aretha Hinkle, Capital 302 Aretha Hinkle, Drawing 401...
Record the closing entry for revenue. Record the closing entry for expenses. Record the closing entry...
Record the closing entry for revenue.
Record the closing entry for expenses.
Record the closing entry for the balance of income
summary.
Record the closing entry for the drawing account.
Problem 6.3A Journalizing and posting closing entries. LO 6-1 On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 401...
Thank you in advance :) PART 10: Post and Close All Accounts Post the closing entries...
Thank you in advance :)
PART 10: Post and Close All Accounts Post the closing entries to the general ledger in RED order and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. Date Accounts Debit Credit Dec. 31 Retained Earnings 9,185 Salaries Expense 6,800 Depreciation Expense - Furniture 100 Insurance Expense 275 Utilities Expense 380 Rent Expense 1,500 Supplies Expense 130 Date Accounts Debit Credit Dec. 31...
The Retained earnings account has a credit balance of $37.000 before closing entries are made.
The Retained earnings account has a credit balance of $37.000 before closing entries are made. Total revenues for the period are $55,200, total expe $39,800, and dividends are $9,000. What is the correct closing entry for the revenue accounts?
When preparing a post closing entry please do not use Profit and Loss account as an...
When preparing a post closing entry please do not use Profit
and Loss account as an aswer. The word bank is below for the second
picture.
Bramble Company had the following adjusted trial balance. Bramble Company Adjusted Trial Balance June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,840 Accounts Receivable 3,830 Supplies 600 Accounts Payable $1,900 Unearned Service Revenue 140 Common Stock 3,900 Retained Earnings 1,540 Dividends 570 Service Revenue 4,100 Salaries and Wages Expense 1.300 Miscellaneous...
Journal Entry Accounts Debit Credit Data Table - X Date (1) Jan 31 i Requirements 12,500...
Journal Entry Accounts Debit Credit Data Table - X Date (1) Jan 31 i Requirements 12,500 17,100 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Valley Haven's closing entries at January 31, 2018. 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Valley Haven's net income for the year ended January 31, 2018. What is the ending balance of Retained Earnings?...
Adjusted Trial Balance Account Titles Debit Credit Cash $3,740 Accounts Receivable 3,960 Supplies 440 Accounts Payable...
Adjusted Trial Balance Account Titles Debit Credit Cash $3,740 Accounts Receivable 3,960 Supplies 440 Accounts Payable $1,900 Unearned Service Revenue 140 Common Stock 4,100 Retained Earnings 1,070 Dividends 700 Service Revenue 4,250 Salaries and Wages Expense 1,300 Miscellaneous Expense 220 Supplies Expense 1,800 Salaries and Wages Payable 700 $12,160 $12,160 Prepare closing entries at June 30, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 30...
The Retained earnings account has a credit balance of $53,000 before closing entries are made. Total revenues for the period are $71,200, total expenses are $47,800, and dividends are $15,400. What is the correct closing entry for the expense accounts? Multiple Choice Debit Expense accounts $53,000; credit Retained earnings $53,000. Debit Income Summary $47,800, credit Expense accounts $47,800. Debit Income Summary $47,800; credit Retained earnings $47,800. Credit Expense accounts $47,800, debit Retained earnings $47,800. Debit Expense accounts $47,800; credit Income Summary $47,800.
Record the closing entry for revenue.
Record the closing entry for expenses.
Record the closing entry for the balance of income
summary.
Record the closing entry for the drawing account.
Exercise 6.6 Closing entries. LO 6-1 The ledger accounts of AXX Internet Company appear as follows on March 31, 2019: ACCOUNT NO. ACCOUNT 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Insurance 141 Equipment 142 Accumulated Depreciation-Equipment 202 Accounts Payable 301 Aretha Hinkle, Capital 302 Aretha Hinkle, Drawing 401...
Record the closing entry for revenue.
Record the closing entry for expenses.
Record the closing entry for the balance of income
summary.
Record the closing entry for the drawing account.
Problem 6.3A Journalizing and posting closing entries. LO 6-1 On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash 111 Accounts Receivable 121 Supplies 131 Prepaid Rent 141 Equipment 142 Accumulated Depreciation-Equip. 202 Accounts Payable 301 Emilio Gonzalez, Capital (12/1/2019) 302 Emilio Gonzalez, Drawing 401...
Thank you in advance :)
PART 10: Post and Close All Accounts Post the closing entries to the general ledger in RED order and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. Date Accounts Debit Credit Dec. 31 Retained Earnings 9,185 Salaries Expense 6,800 Depreciation Expense - Furniture 100 Insurance Expense 275 Utilities Expense 380 Rent Expense 1,500 Supplies Expense 130 Date Accounts Debit Credit Dec. 31...
When preparing a post closing entry please do not use Profit
and Loss account as an aswer. The word bank is below for the second
picture.
Bramble Company had the following adjusted trial balance. Bramble Company Adjusted Trial Balance June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,840 Accounts Receivable 3,830 Supplies 600 Accounts Payable $1,900 Unearned Service Revenue 140 Common Stock 3,900 Retained Earnings 1,540 Dividends 570 Service Revenue 4,100 Salaries and Wages Expense 1.300 Miscellaneous...
Journal Entry Accounts Debit Credit Data Table - X Date (1) Jan 31 i Requirements 12,500 17,100 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Valley Haven's closing entries at January 31, 2018. 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Valley Haven's net income for the year ended January 31, 2018. What is the ending balance of Retained Earnings?...
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