Please prepare a journal entry closing out the following expenses: Supplies expenses - $100,000 Supplies -...
Please prepare a journal entry closing out the following expenses:
Supplies expenses - $100,000
Supplies - $50,000
Rent expenses - $60,000
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Please prepare a journal entry closing out the following
expenses:
Supplies expenses - $100,000
Supplies -...
Prepare the closing entry required at September 30, 2018. (If no entry is required for a...
Prepare the closing entry required at September 30,
2018. (If no entry is required for a
transaction/event, select "No Journal Entry Required"
in the first account field.)
Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2018. $ 610 310 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred...
3. Using the following trial balance, prepare closing entries: 12 points (3 points per closing entry)...
3. Using the following trial balance, prepare closing entries: 12 points (3 points per closing entry) $ 6,400 10.200 46,500 3.600 800 108,000 $ 12,000 28,500 4,650 Cash Accounts receivable Merchandise inventory Office supplies Prepaid Advertising Equipment Accumulated depreciation, equipment Land Accounts payable Salaries payable Rent payable Long-term notes payable Common Stock Retained Earnings Dividends Service Revenue Cost of Goods Sold Rent expense Depreciation expense, building Totals 2,750 850 24,000 46,000 110,400 24,000 169,200 47,250 45,900 48,700 $369.850 $369.850 Accounts...
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...
Questions Prepare the necessary journal entry to record the purchase of $100 of supplies on account:...
Questions Prepare the necessary journal entry to record the purchase of $100 of supplies on account: The steps in an accounting cycle can be best described as: 1. 2. a. Journalize, Post, prepare Unadjusted trial balance, prepare financial statements, close b. Jounalize, Post, prepare Unadjusted trial balance, prepare adjusting entries, c. Analyze Transactions, Jounalize, Post, prepare Unadjusted trial balance, prepare d. Analyze transactions, Journalize, Post, prepare Unadjusted trial balance, prepare prepare adjusted trial balance, prepare financial statements, close, prepare post...
! 13 Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial...
! 13 Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) (The following information applies to the questions displayed below.) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debitor credit balances 26.51 1 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Incone Tax Expense Notes Payable (long-term) Office Expenses Rent Expense...
Prepare the closing journal entry. (If no entry is required for a transaction/event, select "No Journal...
Prepare the closing journal entry. (If no entry is required
for a transaction/event, select "No Journal Entry Required" in the
first account field. Enter your answers in thousands of
dollars.)
Post the closing entry and prepare a post-closing trial
balance. (Enter your answers in thousands of dollars.)
Required information The following information applies to the questions displayed below Intemational celebrity Jay and Goku began operations of their machine shop (J& G Tool, Inc.) on January 1, 2016. The annual reporting...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below.] The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debitor credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expenso Notes Payable (long-term) Office Expenses Rent Expenso Retained Earnings Salaries and...
Journal Entry for Asset Purchase Prepare a journal entry for the purchase of office supplies on...
Journal Entry for Asset Purchase Prepare a journal entry for the purchase of office supplies on November 2 for $4,100, paying $405 cash and the remainder on account. If an amount box does not require an entry, leave it blank. Nov, 2
3. Using the following trial balance, prepare closing entries: 12 points (3 points per closing entry)...
3. Using the following trial balance, prepare closing entries: 12 points (3 points per closing entry) $ 6,400 10.200 46,500 3,600 800 108,000 $ 12,000 28,500 Cash Accounts receivable Merchandise inventory Office supplies Prepaid Advertising Equipment Accumulated depreciation, equipment Land Accounts payable Salaries payable Rent payable Long-term notes payable Common Stock Retained Earnings Dividends Service Revenue Cost of Goods Sold Rent expense Depreciation expense, building Totals 4,650 2,750 850 24,000 46,000 110,400 24,000 169,200 47,250 45,900 48,700 $369.850 $369.850 Accounts...
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...
Prepare the closing entry required at September 30,
2018. (If no entry is required for a
transaction/event, select "No Journal Entry Required"
in the first account field.)
Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2018. $ 610 310 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred...
3. Using the following trial balance, prepare closing entries: 12 points (3 points per closing entry) $ 6,400 10.200 46,500 3.600 800 108,000 $ 12,000 28,500 4,650 Cash Accounts receivable Merchandise inventory Office supplies Prepaid Advertising Equipment Accumulated depreciation, equipment Land Accounts payable Salaries payable Rent payable Long-term notes payable Common Stock Retained Earnings Dividends Service Revenue Cost of Goods Sold Rent expense Depreciation expense, building Totals 2,750 850 24,000 46,000 110,400 24,000 169,200 47,250 45,900 48,700 $369.850 $369.850 Accounts...
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...
Questions Prepare the necessary journal entry to record the purchase of $100 of supplies on account: The steps in an accounting cycle can be best described as: 1. 2. a. Journalize, Post, prepare Unadjusted trial balance, prepare financial statements, close b. Jounalize, Post, prepare Unadjusted trial balance, prepare adjusting entries, c. Analyze Transactions, Jounalize, Post, prepare Unadjusted trial balance, prepare d. Analyze transactions, Journalize, Post, prepare Unadjusted trial balance, prepare prepare adjusted trial balance, prepare financial statements, close, prepare post...
! 13 Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) (The following information applies to the questions displayed below.) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debitor credit balances 26.51 1 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Incone Tax Expense Notes Payable (long-term) Office Expenses Rent Expense...
Prepare the closing journal entry. (If no entry is required
for a transaction/event, select "No Journal Entry Required" in the
first account field. Enter your answers in thousands of
dollars.)
Post the closing entry and prepare a post-closing trial
balance. (Enter your answers in thousands of dollars.)
Required information The following information applies to the questions displayed below Intemational celebrity Jay and Goku began operations of their machine shop (J& G Tool, Inc.) on January 1, 2016. The annual reporting...
Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below.] The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debitor credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expenso Notes Payable (long-term) Office Expenses Rent Expenso Retained Earnings Salaries and...
Journal Entry for Asset Purchase Prepare a journal entry for the purchase of office supplies on November 2 for $4,100, paying $405 cash and the remainder on account. If an amount box does not require an entry, leave it blank. Nov, 2
3. Using the following trial balance, prepare closing entries: 12 points (3 points per closing entry) $ 6,400 10.200 46,500 3,600 800 108,000 $ 12,000 28,500 Cash Accounts receivable Merchandise inventory Office supplies Prepaid Advertising Equipment Accumulated depreciation, equipment Land Accounts payable Salaries payable Rent payable Long-term notes payable Common Stock Retained Earnings Dividends Service Revenue Cost of Goods Sold Rent expense Depreciation expense, building Totals 4,650 2,750 850 24,000 46,000 110,400 24,000 169,200 47,250 45,900 48,700 $369.850 $369.850 Accounts...
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...
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