Homework Answers
Adjusting entry
| No | Account and explanation | Debit | Credit |
| 1 | Salaries expense | 4600 | |
| Salaries payable | 4600 | ||
| 2 | Rent expense (18000*3/12) | 4500 | |
| prepaid rent | 4500 | ||
| 3 | Supplies expense (8600+28000-5600) | 31000 | |
| Supplies | 31000 | ||
| 4 | Deferred revenue | 5600 | |
| Service revenue | 5600 | ||
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< Questions 5.9 of 19 > . Sove & Submit The following information applies to the...
< Questions 5.9 of 19 > Sove & Submit The following information applies to me questions...
< Questions 5.9 of 19 > Sove & Submit The following information applies to me questions displayed below! On January 2018, Red Flash Photography had the following balances Cash, $18,000: Supplies, $8.600 Land, $66,000 Deferred Revenue, $5,600, Common Stock $56.000, Retained Earnings, $31.000. During 2018, the company had the following transactions 1 Issue additional shares of common stock, $26.000 2. Provide services to customers for cash, $41.000, and on account $36,000. 3. Paysalaries to employees for work in 2018. $29,000...
< Questions 5.9 of 19 > . Sove & Submit The following information applies to the...
< Questions 5.9 of 19 > . Sove & Submit The following information applies to the questions displayed below! On January 2018, Red Flash Photography had the following balances: Cash, $18,000: Supplies, $8.600 Land, $66,000: Deferred Revenue, $5,600; Common Stock $56.000, Retained Earnings, $31.000. During 2018, the company had the following transactions 1 Issue additional shares of common stock $26.000 2. Provide services to customers for cash, 541.000, and on account $36,000. 3. Paysalaries to employees for work in 2018....
journal entry worksheet financial accounting Required information The following information applies to the questions displayed below.)...
journal entry worksheet financial accounting
Required information The following information applies to the questions displayed below.) of 9 Allson and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture, Inc.) on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (amounts are rounded to thousands of dollars to simplify). Debit Credit eBook Print Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes...
(The following information applies to the questions displayed below) Green Wave Company plans to own and...
(The following information applies to the questions displayed below) Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $26,000 in cash 2. January 5 Purchase land for $16,000. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $7,400 cash. 4. January 12 Hire three employees...
REQUIRED: Homework Chapter 3 0 Help Save & Exit Submit November 30 December Supplies Prepaid Insurance...
REQUIRED: Homework Chapter 3 0 Help Save & Exit Submit November 30 December Supplies Prepaid Insurance Salaries Payable Deferred Revenue Debit Credit Debit Credit 1,000 2,500 4,000 3,000 9,000 14,000 1,000 500 Doints eBook The following information also is known: Referencesa. Purchases of supplies in December total $2,500. b. No insurance payments are made in December c. $9,000 is paid to employees during December for November salaries. d. On November 1, a tenant pays Golden Eagle $1,500 in advance rent...
The following information applies to the questions displayed below.) The general ledger of Red Storm Cleaners...
The following information applies to the questions displayed below.) The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account be Credits Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salones Payable Common Stock Retained Earnings Debits $12,500 6,500 2,500 17,500 $ 6.000 8,500 17.500 7000 Totals $39,000 $39,000 The following is a summary of the transactions for the year. a. March 12 Provide services to customers, 545,000, of which $19,500 is on account. b. May 2...
(The following information applies to the questions displayed below/ The general ledger of Zips Storage at...
(The following information applies to the questions displayed below/ The general ledger of Zips Storage at January 1, 2018, includes the following account balances Accounts Cash Accounts Recelvable Prepald Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Deblits Credits 25,600 16.400 14,000 158,000 $ 7700 6,800 153,000 46,500 Totals $214,000 $214.000 The following is a summary of the transactions for the year: a. January 9 Provide storage services for cash, $144,100, and on account, $57,200 b. February 12...
Required information The following information applies to the questions displayed below.) Part 1 of 3 Dyer,...
Required information The following information applies to the questions displayed below.) Part 1 of 3 Dyer, Inc., completed its first year of operations on December 31, 2018. Because this is the end of the annual accounting period, the company bookkeeper prepared the following preliminary income statement: 0.8 points $109,500 Income Statement, 2018 Rent Revenue Expenses : Salaries and Wages Expense $27,600 Repairs and Maintenance Expense 12,100 Rent Expense 8,100 Utilities Expense 3,100 Travel Expense 2,100 Total Expenses eBook 53,000 $...
The following information applies to the questions displayed below.) The general ledger of Red Storm Cleaners...
The following information applies to the questions displayed below.) The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account be Credits Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salones Payable Common Stock Retained Earnings Debits $ 12,500 6.500 2,500 17,500 $ 6,000 8,500 17.500 7,000 Totals $39,000 $39,000 The following is a summary of the transactions for the year. a. March 12 Provide services to customers, 545,000, of which $19,500 is on account. b. May...
Required information [The following information applies to the questions displayed below.) The following information is available...
Required information [The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $39,000 9,500 52,000 54,000 19,600 34,500 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
< Questions 5.9 of 19 > Sove & Submit The following information applies to me questions displayed below! On January 2018, Red Flash Photography had the following balances Cash, $18,000: Supplies, $8.600 Land, $66,000 Deferred Revenue, $5,600, Common Stock $56.000, Retained Earnings, $31.000. During 2018, the company had the following transactions 1 Issue additional shares of common stock, $26.000 2. Provide services to customers for cash, $41.000, and on account $36,000. 3. Paysalaries to employees for work in 2018. $29,000...
< Questions 5.9 of 19 > . Sove & Submit The following information applies to the questions displayed below! On January 2018, Red Flash Photography had the following balances: Cash, $18,000: Supplies, $8.600 Land, $66,000: Deferred Revenue, $5,600; Common Stock $56.000, Retained Earnings, $31.000. During 2018, the company had the following transactions 1 Issue additional shares of common stock $26.000 2. Provide services to customers for cash, 541.000, and on account $36,000. 3. Paysalaries to employees for work in 2018....
journal entry worksheet financial accounting
Required information The following information applies to the questions displayed below.) of 9 Allson and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture, Inc.) on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (amounts are rounded to thousands of dollars to simplify). Debit Credit eBook Print Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes...
(The following information applies to the questions displayed below) Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $26,000 in cash 2. January 5 Purchase land for $16,000. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $7,400 cash. 4. January 12 Hire three employees...
REQUIRED: Homework Chapter 3 0 Help Save & Exit Submit November 30 December Supplies Prepaid Insurance Salaries Payable Deferred Revenue Debit Credit Debit Credit 1,000 2,500 4,000 3,000 9,000 14,000 1,000 500 Doints eBook The following information also is known: Referencesa. Purchases of supplies in December total $2,500. b. No insurance payments are made in December c. $9,000 is paid to employees during December for November salaries. d. On November 1, a tenant pays Golden Eagle $1,500 in advance rent...
The following information applies to the questions displayed below.) The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account be Credits Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salones Payable Common Stock Retained Earnings Debits $12,500 6,500 2,500 17,500 $ 6.000 8,500 17.500 7000 Totals $39,000 $39,000 The following is a summary of the transactions for the year. a. March 12 Provide services to customers, 545,000, of which $19,500 is on account. b. May 2...
(The following information applies to the questions displayed below/ The general ledger of Zips Storage at January 1, 2018, includes the following account balances Accounts Cash Accounts Recelvable Prepald Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Deblits Credits 25,600 16.400 14,000 158,000 $ 7700 6,800 153,000 46,500 Totals $214,000 $214.000 The following is a summary of the transactions for the year: a. January 9 Provide storage services for cash, $144,100, and on account, $57,200 b. February 12...
Required information The following information applies to the questions displayed below.) Part 1 of 3 Dyer, Inc., completed its first year of operations on December 31, 2018. Because this is the end of the annual accounting period, the company bookkeeper prepared the following preliminary income statement: 0.8 points $109,500 Income Statement, 2018 Rent Revenue Expenses : Salaries and Wages Expense $27,600 Repairs and Maintenance Expense 12,100 Rent Expense 8,100 Utilities Expense 3,100 Travel Expense 2,100 Total Expenses eBook 53,000 $...
The following information applies to the questions displayed below.) The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account be Credits Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salones Payable Common Stock Retained Earnings Debits $ 12,500 6.500 2,500 17,500 $ 6,000 8,500 17.500 7,000 Totals $39,000 $39,000 The following is a summary of the transactions for the year. a. March 12 Provide services to customers, 545,000, of which $19,500 is on account. b. May...
Required information [The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $39,000 9,500 52,000 54,000 19,600 34,500 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
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