Normal balance
For the accounts listed below, indicate if the normal balance is a debit or a credit.
Account Title | Normal Balance |
Cash | |
Loan Payable | |
Salaries Expense | |
Unearned Revenue | |
Owner’s Drawings | |
Land | |
Insurance Expense | |
Service Revenue | |
Owner’s Capital | |
Accounts Receivable | |
Office Supplies | |
Prepaid Insurance | |
Equipment | |
Accounts Payable |
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list of accounts
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prepare a classified balance sheet
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list of accounts
Sandhill Company had the following adjusted trial balance. $3,840 Sandhill Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash Accounts Receivable 4,070 Supplies 400 Accounts Payable $1,700 Unearned Service Revenue 190 Owner's Capital 3,900 Owner's Drawings Service Revenue 5,920 Salaries and Wages Expense 1,300 Miscellaneous Expense 200 Supplies Expense 1,930 Salaries and Wages Payable 540 $12,250 $12,250 510 Prepare closing entries at June 30, 2020. (Credit account...
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prepare a classified balance sheet
STION #1 ( 22 The following partial worksheet is for Patel's Exterminating Co.: Patel's Exterminating Co. Adjusted Trial Balance December 31, 2019 Credit Debit Account $ 25,000 19,000 8,500 7,000 60,000 150,000 Cash Accounts Receivable Prepaid insurance Office supplies Land Building Accumulated depreciation Loan Receivable - (due 6/2020) Accounts payable Salaries payable Unearned service revenue $20,000 55,000 25,000 3,000 13,000 90,000 99,000 Mortgage payable - (due 12/2021) Sid Patel, capital Sid Patel, withdrawals Service revenue...
Enter your awet in the box and thence Check Answer ICE CHAP. 4 (Table 4-8 Tuttle Photography and Test Bank 44) & o The following is the adjusted trial balance for Tuttle Photography. Debit Credit S15,000 30.000 7,500 3.200 40.000 160,000 $12.000 75.000 Accounts Cash Accounts receivable Prepaid insurance Office supplies Land Building Accumulated amortization Equipment Accumulated amortization Accounts payable Salaries payable Uncamned service revenue Mortgage payable R. Tuttle capital R. Tuttle, withdrawals Service revenue Salaries expense Amortization expense Supplies...
a normal BE2.3 (LO 1) K For each the following accounts, indicate (a) if the account is an asset, liability, or own- er's equity account; and (b) whether the account would have a normal debit or credit balance. 1. Accounts Receivable 2. Rent Expense 3. B. Damji, Drawings 4. Supplies 5. Unearned Revenue 6. Service Revenue 7. Prepaid Insurance 8. Notes Payable
The following trial balance of Swifty Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $103. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,850 and $6,690, respectively. (d) A debit posting to Advertising Expense of $279 was omitted. (e)...
Data Table Michael's Bowling Alley's adjusted trial balance as of December 31, 2024, is presented bel E: (Click the icon to view the adjusted trial balance.) Read the requirements. Balance Michael's Bowling Alley Adjusted Trial Balance December 31, 2024 Account Title Debit Credit Balance Account Title Debit Credit Cash $ 15,500 2,400 Accounts Receivable Office Supplies 500 Prepaid Insurance 2,900 Land 15,000 115,000 $ 5,000 42,000 14,000 Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Utilities Payable Salaries Payable...
The following trial balance of Sheffield Co. does not balance. SHEFFIELD CO. TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $3,227 Accounts Receivable $2,874 Supplies 1,157 Equipment 4,157 Accounts Payable 3,023 Unearned Service Revenue 1,557 Common Stock 6,357 Retained Earnings 3,357 Service Revenue 2,737 3,757 Salaries and Wages Expense Office Expense 1,297 Totals $14,799 $18,701 Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and Journal reveal following errors. Each...
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