Homework Answers
| 2 | Date | General journal | Debit | Credit | |||||
| a. | Cash | (100000-30000) | 70000 | ||||||
| Accounts receivable | 30000 | ||||||||
| Service revenue | 100000 | ||||||||
| (Services provided) | |||||||||
| b. | Cash | 27300 | |||||||
| Accounts receivable | 27300 | ||||||||
| (Collect on accounts receivable) | |||||||||
| c. | Cash | 10000 | |||||||
| Common stock | 10000 | ||||||||
| (Common stock issued) | |||||||||
| d. | Salaries payable | 9000 | |||||||
| Salaries expense | (50000-9000) | 41000 | |||||||
| Cash | 50000 | ||||||||
| (Salary paid) | |||||||||
| e. | Miscellaneous expense | 24000 | |||||||
| Cash | 24000 | ||||||||
| (Paid miscellaneous expense) | |||||||||
| f. | Equipment | 15000 | |||||||
| Cash | 15000 | ||||||||
| (Equipment purchased) | |||||||||
| g. | Dividends | 2500 | |||||||
| Cash | 2500 | ||||||||
| (Dividend paid) | |||||||||
| 1 & 3. | Cash | Accounts receivable | |||||||
| Ref. | Debit | Ref. | Credit | Ref. | Debit | Ref. | Credit | ||
| Bal. | 30000 | d. | 50000 | Bal. | 15000 | b. | 27300 | ||
| a. | 70000 | e. | 24000 | a. | 30000 | ||||
| b. | 27300 | f. | 15000 | 45000 | 27300 | ||||
| c. | 10000 | g. | 2500 | Bal. | 17700 | ||||
| 137300 | 91500 | ||||||||
| Bal. | 45800 | ||||||||
| Equipment | Accumulated depreciation | ||||||||
| Ref. | Debit | Ref. | Credit | Ref. | Debit | Ref. | Credit | ||
| Bal. | 20000 | Bal. | 6000 | ||||||
| f. | 15000 | ||||||||
| 35000 | 0 | ||||||||
| Bal. | 35000 | ||||||||
| Salaries payable | Common stock | ||||||||
| Ref. | Debit | Ref. | Credit | Ref. | Debit | Ref. | Credit | ||
| d. | 9000 | Aug 1. | 9000 | Bal. | 40500 | ||||
| 9000 | 9000 | c. | 10000 | ||||||
| 0 | 50500 | ||||||||
| Bal. | 50500 | ||||||||
| Retained earnings | Dividends | ||||||||
| Ref. | Debit | Ref. | Credit | Ref. | Debit | Ref. | Credit | ||
| Bal. | 9500 | g. | 2500 | ||||||
| Service revenue | Miscellaneous expense | ||||||||
| Ref. | Debit | Ref. | Credit | Ref. | Debit | Ref. | Credit | ||
| a. | 100000 | e. | 24000 | ||||||
| Salaries expense | |||||||||
| Ref. | Debit | Ref. | Credit | ||||||
| d. | 41000 | ||||||||
| 4 | Unadjusted trial balance | ||||||||
| Debit | Credit | ||||||||
| Cash | 45800 | ||||||||
| Accounts receivable | 17700 | ||||||||
| Equipment | 35000 | ||||||||
| Accumulated depreciation | 6000 | ||||||||
| Common stock | 50500 | ||||||||
| Retained earnings | 9500 | ||||||||
| Dividends | 2500 | ||||||||
| Service revenue | 100000 | ||||||||
| Miscellaneous expense | 24000 | ||||||||
| Salaries expense | 41000 | ||||||||
| Totals | 166000 | 166000 | |||||||
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P 2–6 Accounting cycle LO2-2 @ through LO2-70 The general ledger of the Karlin Company, a...
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the...
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Account Title Debits Credits Cash 30,000 Accounts receivable 15,000 Equipment 20,000 Accumulated depreciation 6,000 Salaries payable 9,000 Common stock 40,500 Retained earnings 9,500 Total 65,000 65,000 The following is a summary of the transactions for the year: Service revenue, $100,000, of which $30,000 was on account and the balance was received in cash. Collected on accounts receivable, $27,300. Issued shares of...
Please help!! Accounting Help!! The general ledger of the Karlin Company, a consulting company, at January...
Please help!! Accounting Help!!
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Credits Debits 30,000 15,000 20,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9,500 65,000 65,000 The following is a summary of the transactions for the year: a. Service revenue, $100,000, of which $30,000 was on account and the balance was received in cash. b. Collected on...
Can someone please help Trump The general ledger of the Company, a consulting company, at January...
Can someone please help
Trump The general ledger of the Company, a consulting company, at January 1, 2000, contained the following account balances: Account Title Debits Credits 30,000 15,000 500 20,000 Cash Accounts receivable Allowance for uncollectible accounts Equipment Accumulated depreciation Salaries payable Capital stock Retained earnings Total 6,000 9,000 40,000 9,500 65,000 65,000 The following is a summary of the transactions for the year: a. Sales of services, $100,000, of which $30,000 was on credit. b. Collected on accounts...
Problem 2-6 (Algo) Accounting cycle [LO2-3, 2-4, 2-5, 2-6, 2-7, 2-8] The general ledger of the...
Problem 2-6 (Algo) Accounting cycle [LO2-3, 2-4, 2-5, 2-6, 2-7,
2-8]
The general ledger of the Karlin Company, a consulting company,
at January 1, 2021, contained the following account balances:
Account Title
Debits
Credits
Cash
28,100
Accounts receivable
19,000
Equipment
33,000
Accumulated depreciation
9,900
Salaries payable
10,500
Common stock
50,000
Retained earnings
9,700
Total
80,100
80,100
The following is a summary of the transactions for the year:
Service revenue, $138,000, of which $41,400 was on account and
the balance...
SA Comp #1 The general ledger of the Karlin Company, a consulting company, at January 1, 2018, contained the following a...
SA Comp #1 The general ledger of the Karlin Company, a consulting company, at January 1, 2018, contained the following account balances: Account Title Debits Credits Cash 30,200 Accounts receivable 15,500 Equipment 26,000 Accumulated depreciation 7,800 Salaries payable 8,750 Common stock 46,500 Retained earnings 8,650 Total 71,700 71,700 The following is a summary of the transactions for the year: Sales of services, $124,000, of which $37,200 was on credit. Collected on accounts receivable, $25,300. Issued shares of common stock...
need help please with problems 4-9!!! please and thank you Uldis Required: Prepare the adjusting journal...
need help please with problems 4-9!!! please and thank you
Uldis Required: Prepare the adjusting journal entries that were recorded at December 31, 2021. The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Debits Credits Account Title 30,000 15,000 20,000 Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9,500 65,000 65,000 The following is a summary of the transactions for the year:...
Required: Prepare the adjusting journal entries that were recorded at December 31, 2021 The general ledger...
Required: Prepare the adjusting journal entries that were recorded at December 31, 2021 The general ledger of the Karlin Company, a consulting company, at January 1.2021. contained the account balances: Account Title Debits Credits 30,000 15,000 20,000 Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9.500 65,000 65,000 The following is a su u sactions for the year: a. Service revenue, S u ch 50,000 was on account and the balance was...
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the...
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Account Title Debits Credits Cash 33,200 Accounts receivable 10,500 Equipment 16,000 Accumulated depreciation 4,800 Salaries payable 6,250 Common stock 41,500 Retained earnings 7,150 Total 59,700 59,700 The following is a summary of the transactions for the year: Service revenue, $104,000, of which $31,200 was on account and the balance was received in cash. Collected on accounts receivable, $22,300. Issued shares...
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the...
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Credits Debits 30,200 15,500 26,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Comon stock Retained earnings Total 44 7,800 8,750 46,500 8,650 71,700 71,700 The following is a summary of the transactions for the year: a. Service revenue, $124,000, of which $37.200 was on account and the balance was received in cash. b. Collected on accounts receivable, $25,300....
Please help!! Accounting Help!!
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Credits Debits 30,000 15,000 20,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9,500 65,000 65,000 The following is a summary of the transactions for the year: a. Service revenue, $100,000, of which $30,000 was on account and the balance was received in cash. b. Collected on...
Can someone please help
Trump The general ledger of the Company, a consulting company, at January 1, 2000, contained the following account balances: Account Title Debits Credits 30,000 15,000 500 20,000 Cash Accounts receivable Allowance for uncollectible accounts Equipment Accumulated depreciation Salaries payable Capital stock Retained earnings Total 6,000 9,000 40,000 9,500 65,000 65,000 The following is a summary of the transactions for the year: a. Sales of services, $100,000, of which $30,000 was on credit. b. Collected on accounts...
Problem 2-6 (Algo) Accounting cycle [LO2-3, 2-4, 2-5, 2-6, 2-7,
2-8]
The general ledger of the Karlin Company, a consulting company,
at January 1, 2021, contained the following account balances:
Account Title
Debits
Credits
Cash
28,100
Accounts receivable
19,000
Equipment
33,000
Accumulated depreciation
9,900
Salaries payable
10,500
Common stock
50,000
Retained earnings
9,700
Total
80,100
80,100
The following is a summary of the transactions for the year:
Service revenue, $138,000, of which $41,400 was on account and
the balance...
need help please with problems 4-9!!! please and thank you
Uldis Required: Prepare the adjusting journal entries that were recorded at December 31, 2021. The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Debits Credits Account Title 30,000 15,000 20,000 Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9,500 65,000 65,000 The following is a summary of the transactions for the year:...
Required: Prepare the adjusting journal entries that were recorded at December 31, 2021 The general ledger of the Karlin Company, a consulting company, at January 1.2021. contained the account balances: Account Title Debits Credits 30,000 15,000 20,000 Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 6,000 9,000 40,500 9.500 65,000 65,000 The following is a su u sactions for the year: a. Service revenue, S u ch 50,000 was on account and the balance was...
The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Credits Debits 30,200 15,500 26,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Comon stock Retained earnings Total 44 7,800 8,750 46,500 8,650 71,700 71,700 The following is a summary of the transactions for the year: a. Service revenue, $124,000, of which $37.200 was on account and the balance was received in cash. b. Collected on accounts receivable, $25,300....
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