Homework Answers
|
Closing Entries |
|||
|
No |
Accounts and Explanations |
Debit |
Credit |
|
1 |
Fee Earned |
$ 70,980.00 |
|
|
Income Summery |
$ 70,980.00 |
||
|
(Revenue accounts closed) |
|||
|
2 |
Income Summery |
$ 10,150.00 |
|
|
Wages Expense |
$ 4,150.00 |
||
|
Insurance expense |
$ 1,245.00 |
||
|
Utilities expense |
$ 2,713.00 |
||
|
Depreciation expense |
$ 2,042.00 |
||
|
(Expenses Accounts closed) |
|||
|
3 |
Income Summery |
$ 60,830.00 |
|
|
Retained earnings |
$ 60,830.00 |
||
|
(Net income (loss) transferred) |
|||
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Prepare the closing entries with the following information from the adjusted trial balance 18r RLCU Accumulated...
Journalize closing entries 4. Prepare the closing entries with the following information from the adjusted Accumulated...
Journalize closing entries
4. Prepare the closing entries with the following information from the adjusted Accumulated Depreciation-equipment $5,000 3,200 1,900 Prepaid Insurance Unearned revenue Fees earned Wage expense Insurance expense Utilities expense Depreciation expense 70,980 4,150 1,245 2,713 2,042 3
3. Journalize the transactions for TED Co., assuming the company uses direct write-off method to deal...
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3. Journalize the transactions for TED Co., assuming the company uses direct write-off method to deal...
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Journalize closing entries
4. Prepare the closing entries with the following information from the adjusted Accumulated Depreciation-equipment $5,000 3,200 1,900 Prepaid Insurance Unearned revenue Fees earned Wage expense Insurance expense Utilities expense Depreciation expense 70,980 4,150 1,245 2,713 2,042 3
3. Journalize the transactions for TED Co., assuming the company uses direct write-off method to deal with the uncollectible receivables. Sold merchandise No. 123 to a client A for $3,600 on credit term 2/10, n/30, at the cost of $3,000. Received payment from the client A. Received $1,800 which was written off on Jan. 5, from client B Oct. 5 15 20 . Prepare the closing entries with the following information from the adjusted trial balance for RISE Co.: Accumulated...
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