Which of the following can be prepared by taking the account balances from the general ledger...
Which of the following can be prepared by taking the account balances from the general ledger after closing?
Select one:
a. Income statement
b. Post-closing trial balance
c. Balance sheet
d. Statement of owner's equity
e. Adjusted trial balance
Homework Answers
The correct answer is option B Post-closing trial balance
Post - closing trial balance is listing of all of the accounts in the general ledger with account balances after the closing entries have been posted. It only consist balance sheet accounts. It does not contain income statement account.
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Which of the following can be prepared by taking the account
balances from the general ledger...
The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits...
The general ledger of Zips Storage at January 1, 2021, includes
the following account balances:
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The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits...
The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Debits $ 25,600 16,400 14,000 158,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 7,700 6,800 153,000 46,500 $214,000 $214,000 The following is a summary of the transactions for the year: 3. April 4. May. 1. January 9 Provide storage services for cash, $144, 100, and on account, $57,200. 2. February 12 Collect on accounts...
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On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances:...
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GENERAL LEDGER Account: Date Account: Date GL No: Balance Description PR DR CR GL No: Balance...
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The general ledger of Zips Storage at January 1, 2021, includes
the following account balances:
Credits Debits $ 26,100 16,900 15,000 163,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 8, 200 7,300 158,000 47,500 $221,000 $221,000 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $149, 100, and on account, $59,700. 2. February12 Collect on accounts receivable, $53,000. 3. April...
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 3,750 8,750 2,750 21,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 5,000 3,000 4,000 15,500 8,750 $36,250 $36,250 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $12,500, and on account, $57,500. 2. March 13 Collect on accounts receivable,...
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 4,500 9,500 3,500 36,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 8,000 6,000 7,000 23,000 9,500 $53,500 $53,500 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $20,000, and on account, $65,000. 2. March 13 Collect on accounts receivable,...
The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Debits $ 25,600 16,400 14,000 158,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 7,700 6,800 153,000 46,500 $214,000 $214,000 The following is a summary of the transactions for the year: 3. April 4. May. 1. January 9 Provide storage services for cash, $144, 100, and on account, $57,200. 2. February 12 Collect on accounts...
On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances: Credit Debit $ 26,900 15,109 $ 3,800 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (6%, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals 4,000 19,000 80,400 8,700 99,000 33,900 $145,400 $145,400 During January 2021, the following transactions occur January 2 Provide services to customers for cash, $50, 100. January 6 Provide services to customers on account,...
On January 1, 2021, the general ledger of TNT Fireworks includes the following account balances: Credit Debit $ 59,900 27,400 $ 3,400 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Notes Receivable (5%, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals 37,500 26,400 167,000 16,000 232,000 66,800 $318,200 $318,200 During January 2021, the following transactions occur: January 1 Purchase equipment for $20,700. The company estimates a residual value of $2,700 and a six-year service life....
On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 25,280 6,600 4,500 64,000 ok $ 4,600 79,000 16,700 $100, 300 nt $100,300 ences During January 2021, the following transactions occur January 2 Purchase rental space for one year in advance, $10,200 ($850/month). January 9 Purchase additional supplies on account, $4,900. January 13 Provide services to customers on account,...
On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances: Debit Credit Accounts Cash $27,500 15,400 Accounts Receivable Allowance for Uncollectible Accounts S 4,400 Supplies Notes Receivable (6%, due in 2 years) 4,300 22,000 Land 80,700 Accounts Payable Common Stock 9,300 102,000 Retained Earnings 34,200 $149,900 $149,900 Totals During January 2021, the following transactions occur 2 Provide services to customers for cash, $53,100 January 6 Provide services to customers on account, $90,400. 15 Write...
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