The following accounts were included on a company's adjusted trial balance. Identify which accounts should be closed or not closed at the year end:
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The following accounts were included on a company's adjusted trial balance. Identify which accounts should be closed or not closed at the year end:
Identify which of the following accounts would be included in a post-closing trial balance. Included in post-closing trial balance?
Identify which of the following accounts would be included in a post-closing trial balance. Included in post-closing trial balance? a. Cash b. Haircutting Revenue Furniture d. Goodwill e Taxes Expense Factory f.
The year end adjusted trial balance of the Timmons Tool and Die Corporation included the following...
The year end adjusted trial balance of the Timmons Tool and Die Corporation included the following account balances retained earnings. $240.000, dividends. $20,000, sales revenue $830,000, cost of goods sold, $530,000 salaries expense, $200,000, rent expense. $44,000 and interest expense, $19,000. Prepare the necessary closing entries. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the entry to close the revenue accounts using the...
A company's fiscal year-end is December 31, Year 1. The following is an adjusted trial balance...
A company's fiscal year-end is December 31, Year 1. The following
is an adjusted trial balance as of December 31.
A company's fiscal year-end is December 31, Year 1. The following is an adjusted trial balance as of December 31. Credit Debit $ 11,600 37,000 28,000 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals $ 2,600 26,000 38,000 8,600 3,600 54,400 19,600 12,600...
Which of the following accounts should be closed at the end of the year? OA) Unearned...
Which of the following accounts should be closed at the end of the year? OA) Unearned Rent B) Accumulated Depreciation OC) Supplies Expense OD) Prepaid Insurance
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $ 18,000 14,400 2,089 23,000 14,40 $ 168 Accum 6.500 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment Accumulated depreciation- © Equipment 301 A. Cruz, Capital 302 A. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 45,150 6,000 50,000 2,000 29,150 2,100 3,350...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31 0. Credit Debit $18,000 11,000 2,000 Account Title 101 Cash 126 Supplies 128 Prepaid Insurance 167 Equipment Accumulated depreciation Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Service revenue Depreciation expense ** Equipment 622 Salarie expense 637 Insurance expense 640 Rent expense 652 Supplies expense Total 23,000 $ 6,500 9,982 34,600 6,000 39,700 2,000 23,145 1,667 2.660 1.310 $90,782 $90,...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31 Credit Debit $18,000 14,400 2,000 23,000 $ 6,500 9,182 36,600 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 47,700 2,000 27,809 2,003 3,196 1,574 $99,982 $99,982 1....
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $18,000 13,300 2,000 23,000 $ 6,500 45,480 Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 A. Cruz, Capital 302 A. Cruz, withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 44,800 2.000 26,118 1.882 3.002 1.478 $96,780 $96.780 1. Prepare the...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $18,000 14,400 2,000 23,000 $ 6,500 7,482 41,600 NO. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 35,700 2,000 20,813 1,499 2,392 1,178 $91,282 $91,282...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $18,000 12,900 2,000 23,000 $ 6,500 45,493 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 A. Cruz, Capital 302 A. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 43,300 2,000 25,244 1,819 2,901 1,429 $95, 293 $95, 293...
Identify which of the following accounts would be included in a post-closing trial balance. Included in post-closing trial balance? a. Cash b. Haircutting Revenue Furniture d. Goodwill e Taxes Expense Factory f.
The year end adjusted trial balance of the Timmons Tool and Die Corporation included the following account balances retained earnings. $240.000, dividends. $20,000, sales revenue $830,000, cost of goods sold, $530,000 salaries expense, $200,000, rent expense. $44,000 and interest expense, $19,000. Prepare the necessary closing entries. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the entry to close the revenue accounts using the...
A company's fiscal year-end is December 31, Year 1. The following
is an adjusted trial balance as of December 31.
A company's fiscal year-end is December 31, Year 1. The following is an adjusted trial balance as of December 31. Credit Debit $ 11,600 37,000 28,000 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals $ 2,600 26,000 38,000 8,600 3,600 54,400 19,600 12,600...
Which of the following accounts should be closed at the end of the year? OA) Unearned Rent B) Accumulated Depreciation OC) Supplies Expense OD) Prepaid Insurance
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $ 18,000 14,400 2,089 23,000 14,40 $ 168 Accum 6.500 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment Accumulated depreciation- © Equipment 301 A. Cruz, Capital 302 A. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 45,150 6,000 50,000 2,000 29,150 2,100 3,350...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31 0. Credit Debit $18,000 11,000 2,000 Account Title 101 Cash 126 Supplies 128 Prepaid Insurance 167 Equipment Accumulated depreciation Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Service revenue Depreciation expense ** Equipment 622 Salarie expense 637 Insurance expense 640 Rent expense 652 Supplies expense Total 23,000 $ 6,500 9,982 34,600 6,000 39,700 2,000 23,145 1,667 2.660 1.310 $90,782 $90,...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31 Credit Debit $18,000 14,400 2,000 23,000 $ 6,500 9,182 36,600 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 47,700 2,000 27,809 2,003 3,196 1,574 $99,982 $99,982 1....
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $18,000 13,300 2,000 23,000 $ 6,500 45,480 Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 A. Cruz, Capital 302 A. Cruz, withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 44,800 2.000 26,118 1.882 3.002 1.478 $96,780 $96.780 1. Prepare the...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $18,000 14,400 2,000 23,000 $ 6,500 7,482 41,600 NO. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 35,700 2,000 20,813 1,499 2,392 1,178 $91,282 $91,282...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $18,000 12,900 2,000 23,000 $ 6,500 45,493 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 A. Cruz, Capital 302 A. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 43,300 2,000 25,244 1,819 2,901 1,429 $95, 293 $95, 293...
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