Homework Answers
| S.No | Particulars | Debit | Credit |
| 1 | Rent (3300*4/12) | 1100 | |
| Prepaid Rent | 1100 | ||
| 2 | Wages | 2000 | |
| Wages Payable | 2000 | ||
| 3 | Annual Leave compensation | 100 | |
| Provision for Annual Leave Compensation | 100 | ||
| 4 | Baddets | 990 | |
| ABC Ltd | 990 |
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prepare financial reports
Task 2.2 - Prepare General Journal entries to record the balance day adjustments...
task 2.1. prepare the general ledger by enetring the opening balanc from trial balane Task 1.3...
task 2.1. prepare the general ledger by enetring the opening balanc
from trial balane
Task 1.3 - Prepare a depreciation schedule for 30/6/2019 Using the information that you prepared in your assets registers please compie depreciation schedule for the year ended 30/6/2019, located in the excel file u depreciation Sch tab ted in the excel file under the When you have finished, save the file. Part 2 - Preparation of final accounts For Part 2 of this case study you...
What is the correct order of the accounting cycle? Prepare financial statements Record adjusting journal entries...
What is the correct order of the accounting cycle? Prepare financial statements Record adjusting journal entries and update ledger balances < Prepare unadjusted trial balance > Analyze transactions based on source documents < Record journal entries in general journal and update general ledger > Prepare adjusted trial balance Prepare post closing trial balance < Record closing entries
Prepare general journal entries to record these transactions. 3) Prepare general journal entries on December 31 to recor...
Prepare general journal entries to record these transactions. 3) Prepare general journal entries on December 31 to record the following unrelated year-end adjustments. a. Estimated depreciation on equipment for the year, $4,500. b. The Prepaid Insurance account has a $3,680 debit balance before adjustment. An examination of insurance policies shows $600 of insurance expired. c. The Prepaid Insurance account has a $2,400 debit balance before adjustment. An examination of insurance policies shows $950 of unexpired insurance. d. The company has...
Post the entries in the general journal below to the Accounts Receivable account in the general...
Post the entries in the general journal below to the Accounts Receivable account in the general ledger and to the appropriate accounts in the accounts receivable ledger for Calderone Company. Assume the following account balances at January 1, 2019: Accounts Receivable (control account) $ 7,560 Accounts Receivable—John Gibrone 4,500 Accounts Receivable—Jim Garcia 2,070 Accounts Receivable—June Lin 990 GENERAL JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT 2019 Jan. 8 Cash 450 Accounts Receivable/John Gibrone 450 Received partial payment on account...
Prepare general journal entries on December 31 to record the following unrelated year-end adjustments. a. Estimated...
Prepare general journal entries on December 31 to record the following unrelated year-end adjustments. a. Estimated depreciation on office equipment for the year, SAR 2,000 b. The Prepaid Insurance account has a SAR 2,500 debit balance before adjustment. An examination of insurance policies shows SAR 350 of insurance expired c. The Prepaid Insurance account has a SAR 1,400 debit balance before adjustment. An examination of insurance policies shows SAR 400 of unexpired insurance d. The company has three office employees...
10) Prepare general journal entries on December 31 to record the following unrelated year-end adjustments (18...
10) Prepare general journal entries on December 31 to record the following unrelated year-end adjustments (18 points). a. Estimated depreciation on equipment for the year, $4,500. b. The Prepaid Insurance account has a $3,680 debit balance before adjustment. An examination of insurance polides shows $600 of insurance expired. The Prepaid Insurance account has a $2,400 debit balance before adjustment. An examination of insurance policies shows $950 of unexpired insurance. d. The company has three office employees who each earn $100...
Journal entry number one record entry to transfer fees income to income summary. Number to record...
Journal entry
number one record entry to transfer fees income to income summary.
Number to record entry to transfer expenses to income summary.
Number three record entry to transfer net income or net loss from
income summary to Capital. Number for record entry to transfer
drawings to Capital account. General ledger post the closing
entries to the owners capital account. Trial balance prepare a
post-closing trial balance
Danos Company's partial worksheet for the month ended December 31, 2019. is shown...
Post the entries in the general journal below to the Accounts Receivable account in the general...
Post the entries in the general journal below to the Accounts Receivable account in the general ledger and to the appropriate accounts in the accounts receivable ledger for Calderone Company. Assume the following account balances at January 1, 2019: Accounts Receivable (control account) $ 9,120 Accounts Receivable—John Gibrone 5,800 Accounts Receivable—Jim Garcia 2,200 Accounts Receivable—June Lin 1,120 GENERAL JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT 2019 Jan. 8 Cash 580 Accounts Receivable/John Gibrone 580 Received partial payment on account...
16. Prepare general journal entries on December 31 to record the following unrelated year-end adjustments. a....
16. Prepare general journal entries on December 31 to record the following unrelated year-end adjustments. a. Estimated depreciation on office equipment for the year, S4,000. b. The Prepaid Insurance account has a $3,680 debit balance before adjustment. An examination of insurance policies shows $950 of insurance expired. c. The Prepaid Insurance account has a $2,400 debit balance before adjustment. An examination of insurance policies shows $600 of unexpired insurance. d. The company has three office employees who each earn $100...
task 2.1 prepare the general ledger by entering the opening balances from trial balance Micro Systems...
task 2.1 prepare the general ledger by entering the opening
balances from trial balance
Micro Systems Trial Balance as at 30th June 2019. Debit Credit $ 2,160 7,000 3,000 100 130,695 31,600 8,400 4,500 DY Account Name epreciation Accumulated Depreciation - equipment 20 Accumulated depreciation - motor vehicle Advertising Allowance for doubtful debts Sales Capital - John Franklin Poral Cash at bank Accounts Payable Control Accounts Receivable Control Drawings - John Franklin Equipment at cost GST Collected A.GST Paid Residential...
task 2.1. prepare the general ledger by enetring the opening balanc
from trial balane
Task 1.3 - Prepare a depreciation schedule for 30/6/2019 Using the information that you prepared in your assets registers please compie depreciation schedule for the year ended 30/6/2019, located in the excel file u depreciation Sch tab ted in the excel file under the When you have finished, save the file. Part 2 - Preparation of final accounts For Part 2 of this case study you...
What is the correct order of the accounting cycle? Prepare financial statements Record adjusting journal entries and update ledger balances < Prepare unadjusted trial balance > Analyze transactions based on source documents < Record journal entries in general journal and update general ledger > Prepare adjusted trial balance Prepare post closing trial balance < Record closing entries
10) Prepare general journal entries on December 31 to record the following unrelated year-end adjustments (18 points). a. Estimated depreciation on equipment for the year, $4,500. b. The Prepaid Insurance account has a $3,680 debit balance before adjustment. An examination of insurance polides shows $600 of insurance expired. The Prepaid Insurance account has a $2,400 debit balance before adjustment. An examination of insurance policies shows $950 of unexpired insurance. d. The company has three office employees who each earn $100...
Journal entry
number one record entry to transfer fees income to income summary.
Number to record entry to transfer expenses to income summary.
Number three record entry to transfer net income or net loss from
income summary to Capital. Number for record entry to transfer
drawings to Capital account. General ledger post the closing
entries to the owners capital account. Trial balance prepare a
post-closing trial balance
Danos Company's partial worksheet for the month ended December 31, 2019. is shown...
16. Prepare general journal entries on December 31 to record the following unrelated year-end adjustments. a. Estimated depreciation on office equipment for the year, S4,000. b. The Prepaid Insurance account has a $3,680 debit balance before adjustment. An examination of insurance policies shows $950 of insurance expired. c. The Prepaid Insurance account has a $2,400 debit balance before adjustment. An examination of insurance policies shows $600 of unexpired insurance. d. The company has three office employees who each earn $100...
task 2.1 prepare the general ledger by entering the opening
balances from trial balance
Micro Systems Trial Balance as at 30th June 2019. Debit Credit $ 2,160 7,000 3,000 100 130,695 31,600 8,400 4,500 DY Account Name epreciation Accumulated Depreciation - equipment 20 Accumulated depreciation - motor vehicle Advertising Allowance for doubtful debts Sales Capital - John Franklin Poral Cash at bank Accounts Payable Control Accounts Receivable Control Drawings - John Franklin Equipment at cost GST Collected A.GST Paid Residential...
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