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Question Three: (8 Points) You are given the following information: a. Salaries earned by employees that...
Bolton Consulting Work Sheet For the year ended December 31 Balance Sheet and Statement of Stockholders...
Bolton Consulting Work Sheet For the year ended December 31 Balance Sheet and Statement of Stockholders Income Statement Equity Adjusted Unadjusted Trial Trial Balance Adjustments Balance Account Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Cash 31,000 Accounts Receivable 8,000 Supplies 12,500 Automobiles 175,000 Accum. Depr. - Autos 52,000 17,500 Accounts payable Unearned 26,500 fees Salaries payable Capital Stock 58.000 Dividends 42,500 241,750 Fees earned Salary 91,000 Module 8: Portfolio Project 262020 expense Rent expense 35,750 Advertising expense...
The unadjusted trial balance of Bolton Consulting is entered on the partial worksheet below. Bolton Consulting...
The unadjusted trial balance of Bolton Consulting is entered on the partial worksheet below. Bolton Consulting Work Sheet For the year ended December 31 Account Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet and Statement of Stockholders’ Equity Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 31,000 Accounts Receivable 8,000 Supplies 12,500 Automobiles 175,000 Accum. Depr. - Autos 52,000 Accounts payable 17,500 Unearned fees 26,500 Salaries payable Capital Stock 58,000 Dividends 42,500 Fees earned...
Refer to the following Hawkeye Ranges. As of December 31, 2017, employees had earned $1,296 of...
Refer to the following Hawkeye Ranges. As of December 31, 2017, employees had earned $1,296 of unpaid and unrecorded salaries. The next payday is January 4, at which time $2,307 of salaries will be paid. The cost of supplies still available at December 31, 2017, is $3,904. The notes payable requires an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31, 2017, is $1,125. The next interest payment, at an amount of...
Please answer the whole question. Refer to the following Hawkeye Ranges. As of December 31, 2017,...
Please answer the whole question.
Refer to the following Hawkeye Ranges.
As of December 31, 2017, employees had earned $855 of unpaid
and unrecorded salaries. The next payday is January 4, at which
time $1,522 of salaries will be paid.
The cost of supplies still available at December 31, 2017, is
$2,575.
The notes payable requires an interest payment to be made every
three months. The amount of unrecorded accrued interest at December
31, 2017, is $1,375. The next interest...
Magda Consulting initially records prepaid and unearned items in income statement accounts. Given this QS 3-20)...
Magda Consulting initially records prepaid and unearned items in income statement accounts. Given this QS 3-20) company's accounting practices, which of the following applies to the preparation of adjusting entries at Preparing adjustin the end of its first accounting period? P4 a. Unearned fees (on which cash was received in advance earlier in the period) are recorded with a debit to Consulting Fees Earned of $500 and a credit to Unearned Consulting Fees of $500. b. Unpaid salaries of $400...
Below are journal entries and adjusted journal entries, on the excel snapshot provided I need the...
Below are journal entries and adjusted journal entries, on the
excel snapshot provided I need the remaining trial balances filled
in for the beginning trial balances and all of the retained
earnings info.
Happy House Bakeshop opened for business on October 1, 2018. During the month of October, the following transactions occurred: October 1: Issued $20,000 of common stock for $20,000 cash. October 1: Purchased a delivery van for $11,000. Paid $4,000 in cash and borrowed the remainder (long-term) from...
Flagg records adjusting entries at its December 31 year end. At December 31, employees had earned...
Flagg records adjusting entries at its December 31 year end. At December 31, employees had earned $13,600 of unpaid and unrecorded salaries. The next payday is January 3, at which time $34,000 will be paid. Prepare the January 1 journal entry to reverse the effect of the December 31 salary expense accrual. Multiple Choice Debit Salaries payable $13,600, credit Salaries expense $13,600 ) 0 Debit Salaries expense $13,600; credit Salaries payable $13,600, 0 0 Debit Salaries payable $20,400; credit Cash...
I need help creating the adjusted trial balance for this. I believe the adjustments i made...
I need help creating the adjusted trial balance for this. I
believe the adjustments i made were correct but cannot get the
adjusted trial balance to equal out, im unsure if there may have
been an error in my adjustments.
Jean's Lawn Care Services Worksheet For the Year Ended December 31 Accounts Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Stat Debit Credit Debit Credit Debit Credit Debit Cash 50,000 Accounts Receivable 10,000 8 Supplies 8,000 9 Trucks 160,000 10...
#1. A corporation was started on January 3, 2015 with an initial sale of common stock...
#1. A corporation was started on January 3, 2015 with an initial sale of common stock of $160,000. At December 31, 2015, the company had $600,000 in assets and $350,000 in liabilities. During 2015 the corporation paid $40,000 of dividends. What was the company’s net income for 2015? #2. On May 31, Zent Co. borrows $80,000 from a local bank. A note is signed with principal and 6% interest to be paid on May 31 the following year. Select the...
Required information Account Name Supplies Interest receivable Salaries payable Deferred revenue Account Balance $15, eee @...
Required information Account Name Supplies Interest receivable Salaries payable Deferred revenue Account Balance $15, eee @ Account Name Service revenue Interest revenue Supplies expense Salaries expense Account Balance $147,200 e e 66,300 9,600 1. Supplies remaining at the end of the year. 2. Services remaining to be provided to customers who paid in advance. 3. Employees are owed additional salaries at the end of the year. A note receivable was accepted on March 31. Interest rate on note $ 6,109...
Bolton Consulting Work Sheet For the year ended December 31 Balance Sheet and Statement of Stockholders Income Statement Equity Adjusted Unadjusted Trial Trial Balance Adjustments Balance Account Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Cash 31,000 Accounts Receivable 8,000 Supplies 12,500 Automobiles 175,000 Accum. Depr. - Autos 52,000 17,500 Accounts payable Unearned 26,500 fees Salaries payable Capital Stock 58.000 Dividends 42,500 241,750 Fees earned Salary 91,000 Module 8: Portfolio Project 262020 expense Rent expense 35,750 Advertising expense...
Please answer the whole question.
Refer to the following Hawkeye Ranges.
As of December 31, 2017, employees had earned $855 of unpaid
and unrecorded salaries. The next payday is January 4, at which
time $1,522 of salaries will be paid.
The cost of supplies still available at December 31, 2017, is
$2,575.
The notes payable requires an interest payment to be made every
three months. The amount of unrecorded accrued interest at December
31, 2017, is $1,375. The next interest...
Magda Consulting initially records prepaid and unearned items in income statement accounts. Given this QS 3-20) company's accounting practices, which of the following applies to the preparation of adjusting entries at Preparing adjustin the end of its first accounting period? P4 a. Unearned fees (on which cash was received in advance earlier in the period) are recorded with a debit to Consulting Fees Earned of $500 and a credit to Unearned Consulting Fees of $500. b. Unpaid salaries of $400...
Below are journal entries and adjusted journal entries, on the
excel snapshot provided I need the remaining trial balances filled
in for the beginning trial balances and all of the retained
earnings info.
Happy House Bakeshop opened for business on October 1, 2018. During the month of October, the following transactions occurred: October 1: Issued $20,000 of common stock for $20,000 cash. October 1: Purchased a delivery van for $11,000. Paid $4,000 in cash and borrowed the remainder (long-term) from...
Flagg records adjusting entries at its December 31 year end. At December 31, employees had earned $13,600 of unpaid and unrecorded salaries. The next payday is January 3, at which time $34,000 will be paid. Prepare the January 1 journal entry to reverse the effect of the December 31 salary expense accrual. Multiple Choice Debit Salaries payable $13,600, credit Salaries expense $13,600 ) 0 Debit Salaries expense $13,600; credit Salaries payable $13,600, 0 0 Debit Salaries payable $20,400; credit Cash...
I need help creating the adjusted trial balance for this. I
believe the adjustments i made were correct but cannot get the
adjusted trial balance to equal out, im unsure if there may have
been an error in my adjustments.
Jean's Lawn Care Services Worksheet For the Year Ended December 31 Accounts Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Stat Debit Credit Debit Credit Debit Credit Debit Cash 50,000 Accounts Receivable 10,000 8 Supplies 8,000 9 Trucks 160,000 10...
Required information Account Name Supplies Interest receivable Salaries payable Deferred revenue Account Balance $15, eee @ Account Name Service revenue Interest revenue Supplies expense Salaries expense Account Balance $147,200 e e 66,300 9,600 1. Supplies remaining at the end of the year. 2. Services remaining to be provided to customers who paid in advance. 3. Employees are owed additional salaries at the end of the year. A note receivable was accepted on March 31. Interest rate on note $ 6,109...
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