Homework Answers
1) Adjusting entry
| No | General Journal | debit | Credit |
| 1 | Account receivable | 750 | |
| Rental revenue | 750 | ||
| 2 | Interest receivable | 1000 | |
| Interest revenue | 1000 | ||
| 3 | Supplies expense | 1600 | |
| Supplies | 1600 | ||
| 4 | Insurance expense | 1000 | |
| Prepaid insurance | 1000 | ||
| 5 | Depreciation expense | 1400 | |
| Accumulated depreciation-Building | 1400 | ||
| 6 | Wages expense | 780 | |
| Wages payable | 780 | ||
| 7 | Unearned revenue | 300 | |
| Rental revenue | 300 | ||
b) Total assets = 81150
Total liabilities = 9080
Net income = 17470
Total equity = 16000+41600+17470-3000 = 72070
Add Answer to:
LO 3 P3-69B. (Learning Objective 3: Adjust the accounts) Crossway Rental Company unadjusted and adjusted trial...
Data Table Lemontree Rental Company Trial Balance Worksheet June 30, 2018 Adjusted Trial Trial Balance Balance...
Data Table Lemontree Rental Company Trial Balance Worksheet June 30, 2018 Adjusted Trial Trial Balance Balance Account Debit Credit Debit Credit Cash $ 9,000 9,000 Accounts receivable 6,000 6,860 Interest receivable 500 Note receivable 3,900 3,900 Supplies 1,600 300 Prepaid insurance 2,600 1,400 Building 67,000 67,000 Accumulated depreciation—building $ 8,200 $ 9,300 Accounts payable 7,300 7,300 Wages payable 810 Unearned rental revenue 2,100 1,700 Common stock 15,000 15,000 Retained earnings 40,900 40,900 Dividends 3,800 3,800 Rental revenue 22,600 23,860 Interest...
points) Below is the adjusted trial balance for Baba Repair Service. Please prepare the income statement...
points) Below is the adjusted trial balance for Baba Repair Service. Please prepare the income statement for the December 31, 2012. Baba Repair Service Adjusted Trial Balance December 31, 2012 Debit Credit $1,600 2,400 800 200 14,000 Accounts Cash Accounts receivable Prepaid rent Supplies Building Accumulated depreciation Accounts payable Salary payable Unearned revenue D. Baba, capital D. Baba, drawing Service revenue Salary expense Rent expense Depreciation expense Supplies expense Total $2,000 4,200 1,000 800 6,000 1,000 50,000 121.000 114,000 8.500...
Account Trial Balance Debit Credit 8,300 6,800 Adjusted Trial Balance Debit Credit $ 8,300 6,850 800...
Account Trial Balance Debit Credit 8,300 6,800 Adjusted Trial Balance Debit Credit $ 8,300 6,850 800 4,300 1,000 4,300 1.900 Cash Accounts receivable Interest receivable Note receivable Supplies Prepaid insurance Building Accumulated depreciation building Accounts payable Wages payable Unearned rental revenue 2,200 66,700 600 66,700 $ 9,700 6,300 11,600 6,300 850 600 19,000 Common stock Retained earnings Dividends 1,400 19,000 43,800 43,800 4,000 4,000 Rental revenue 15,600 800 16,450 1,600 Interest revenue Depreciation expense-building Supplies expense Utilities expense Wage expense...
Requirement 2. The accounts listed in the unadjusted trial balance, together with their unadjusted balances as...
Requirement 2. The accounts listed in the
unadjusted trial balance, together with their unadjusted balances
as of
December 31, 2018 have been opened for you in T-account form.
Post the adjusting entries to T-accounts using the adjustment
letters (a, b, c, etc.) as posting references. Determine the
ending balances for all T-accounts (including any that may not be
affected by any of the adjusting entries) on December 31,
2018.
Calculate each accounts balance and enter the balance, along
with a...
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...
Carla Vista Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance...
Carla Vista Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,730 Accounts Receivable 4,080 Supplies 450 Accounts Payable $1,600 Unearned Service Revenue 140 Owner's Capital 5,560 Owner's Drawings 790 Service Revenue 5,510 Salaries and Wages Expense 1,400 Miscellaneous Expense 320 Supplies Expense 2,450 Salaries and Wages Payable 410 $13,220 $13,220
Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance...
Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance by entering the adjusted balance for each of the following accounts. Adjusted Trial Balance Unadjusted Trial Balance Adjustments No. Account Title Dr. Cr. Dr. Cr. Dr. Cr. 10,000 Cash $ 10,000 101 106 Accounts receivable 126 Supplies 209 Salaries payable 301 B. Wells, Capital 403 Consulting 622 Salaries expense 652 Supplies expense 3,200 4,800 5,100 $ 2,700 600 0 11,000 13,000 4,800 revenue 600...
Bridgeport Company had the following adjusted trial balance. Bridgeport Company Adjusted Trial Balance For the Month...
Bridgeport Company had the following adjusted trial balance. Bridgeport Company Adjusted Trial Balance For the Month Ended June 30, 2022 Adjusted Trial Balance Account Titles Debit Credit Cash $3,720 Accounts Receivable 3,720 Supplies 420 Accounts Payable $1,700 Unearned Service Revenue 200 Common Stock 1,120 Retained Earnings 2,500 Dividends 520 Service Revenue 5,700 Salaries and Wages Expense 1,250 Miscellaneous Expense 340 Supplies Expense 1,800 Salaries and Wages Payable 550 $11,770 $11,770 Prepare closing entries at June 30, 2022. (Credit account titles...
QS 3-17 (Static) Preparing an adjusted trial balance LO P5 Following are unadjusted balances along with...
QS 3-17 (Static) Preparing an adjusted trial balance LO P5 Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance by entering the adjusted balance for each of the following accounts. Adjustments Unadjusted Trial Balance Dr. Cr. 8,000 2,000 Adjusted Trial Balance Dr. Cr. Dr. Cr. $ $ 4,000 4,500 $ No. 101 106 126 209 307 318 403 2,500 400 $ 0 Account Title Cash Accounts receivable Supplies Salaries payable Common stock Retained...
Data Table Lemontree Rental Company Trial Balance Worksheet June 30, 2018 Adjusted Trial Trial Balance Balance Account Debit Credit Debit Credit Cash $ 9,000 9,000 Accounts receivable 6,000 6,860 Interest receivable 500 Note receivable 3,900 3,900 Supplies 1,600 300 Prepaid insurance 2,600 1,400 Building 67,000 67,000 Accumulated depreciation—building $ 8,200 $ 9,300 Accounts payable 7,300 7,300 Wages payable 810 Unearned rental revenue 2,100 1,700 Common stock 15,000 15,000 Retained earnings 40,900 40,900 Dividends 3,800 3,800 Rental revenue 22,600 23,860 Interest...
points) Below is the adjusted trial balance for Baba Repair Service. Please prepare the income statement for the December 31, 2012. Baba Repair Service Adjusted Trial Balance December 31, 2012 Debit Credit $1,600 2,400 800 200 14,000 Accounts Cash Accounts receivable Prepaid rent Supplies Building Accumulated depreciation Accounts payable Salary payable Unearned revenue D. Baba, capital D. Baba, drawing Service revenue Salary expense Rent expense Depreciation expense Supplies expense Total $2,000 4,200 1,000 800 6,000 1,000 50,000 121.000 114,000 8.500...
Account Trial Balance Debit Credit 8,300 6,800 Adjusted Trial Balance Debit Credit $ 8,300 6,850 800 4,300 1,000 4,300 1.900 Cash Accounts receivable Interest receivable Note receivable Supplies Prepaid insurance Building Accumulated depreciation building Accounts payable Wages payable Unearned rental revenue 2,200 66,700 600 66,700 $ 9,700 6,300 11,600 6,300 850 600 19,000 Common stock Retained earnings Dividends 1,400 19,000 43,800 43,800 4,000 4,000 Rental revenue 15,600 800 16,450 1,600 Interest revenue Depreciation expense-building Supplies expense Utilities expense Wage expense...
Requirement 2. The accounts listed in the
unadjusted trial balance, together with their unadjusted balances
as of
December 31, 2018 have been opened for you in T-account form.
Post the adjusting entries to T-accounts using the adjustment
letters (a, b, c, etc.) as posting references. Determine the
ending balances for all T-accounts (including any that may not be
affected by any of the adjusting entries) on December 31,
2018.
Calculate each accounts balance and enter the balance, along
with a...
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...
Carla Vista Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,730 Accounts Receivable 4,080 Supplies 450 Accounts Payable $1,600 Unearned Service Revenue 140 Owner's Capital 5,560 Owner's Drawings 790 Service Revenue 5,510 Salaries and Wages Expense 1,400 Miscellaneous Expense 320 Supplies Expense 2,450 Salaries and Wages Payable 410 $13,220 $13,220
Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance by entering the adjusted balance for each of the following accounts. Adjusted Trial Balance Unadjusted Trial Balance Adjustments No. Account Title Dr. Cr. Dr. Cr. Dr. Cr. 10,000 Cash $ 10,000 101 106 Accounts receivable 126 Supplies 209 Salaries payable 301 B. Wells, Capital 403 Consulting 622 Salaries expense 652 Supplies expense 3,200 4,800 5,100 $ 2,700 600 0 11,000 13,000 4,800 revenue 600...
Bridgeport Company had the following adjusted trial balance. Bridgeport Company Adjusted Trial Balance For the Month Ended June 30, 2022 Adjusted Trial Balance Account Titles Debit Credit Cash $3,720 Accounts Receivable 3,720 Supplies 420 Accounts Payable $1,700 Unearned Service Revenue 200 Common Stock 1,120 Retained Earnings 2,500 Dividends 520 Service Revenue 5,700 Salaries and Wages Expense 1,250 Miscellaneous Expense 340 Supplies Expense 1,800 Salaries and Wages Payable 550 $11,770 $11,770 Prepare closing entries at June 30, 2022. (Credit account titles...
QS 3-17 (Static) Preparing an adjusted trial balance LO P5 Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance by entering the adjusted balance for each of the following accounts. Adjustments Unadjusted Trial Balance Dr. Cr. 8,000 2,000 Adjusted Trial Balance Dr. Cr. Dr. Cr. $ $ 4,000 4,500 $ No. 101 106 126 209 307 318 403 2,500 400 $ 0 Account Title Cash Accounts receivable Supplies Salaries payable Common stock Retained...
Most questions answered within 3 hours.
-
Do not neglect the old for the new. The existing business must
not lose priority simply...
asked 12 minutes ago -
Kylie is a single mom with two dependent children,
Tanner, age 7 and Olivia, age 11....
asked 1 hour ago -
Phosphorous + bromine = phosphorous tribromide. If 35.0 g of
bromine are reacted and 27.9 grams...
asked 2 hours ago -
Derive the long wavelength limit of the Planck energy density
distribution
asked 2 hours ago -
Calculate the pH of each of the following solutions.
0.50 M HBr
3.1×10−4 M KOH
4.2×10−5...
asked 6 hours ago -
For the year ended December 31, Depot Max’s cost of merchandise
sold was $85,600. Inventory at the...
asked 6 hours ago -
Week 10 - Professional Memo Assignment
Professional Memo Assignment
Your mission for this week, should you...
asked 6 hours ago -
Write a Python program that stores the data for each
player on the team, and it...
asked 6 hours ago -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 7 hours ago -
Is Ca(OH)2 a Bronsted base, Lewis base, or both? Why?
asked 6 hours ago -
1A- Why don’t voters complain about U.S. tariffs on imported
sugar?
Because sugar is only a...
asked 7 hours ago -
Cash Payback Period
Primera Banco is evaluating two capital investment proposals for
a drive-up ATM kiosk,...
asked 7 hours ago