Homework Answers
| Date | Account Titles and Explanation | Debit | Credit |
| Nov 30 | Supplies expense | 7,930 | |
| Supplies | 7,930 | ||
| Nov 30 | Insurance expense | 11,850 | |
| Prepaid Insurance | 11,850 | ||
| Nov 30 | Depreciation expence - Equipment | 12,430 | |
| Accumulated Depreciation - Equipment | 12,430 | ||
| Nov 30 | Depreciation expence - Automobiles | 2,770 | |
| Accumulated Depreciation - Automobiles | 2,770 | ||
| Nov 30 | Utilities expense | 1,000 | |
| Accounts payable | 1,000 | ||
| Nov 30 | Salary expense | 7,840 | |
| Salaries payable | 7,840 | ||
| Nov 30 | Unearned Service fee | 12,860 | |
| Service fees earned | 12,860 |
workings:
Supplies expense = 11,500-3,570=7,930
Insurance expense = 14,630-2,780=11,850
Depreciation expence - Equipment = 12,430
Depreciation expence - Automobiles = 2,770
Utilities expense = 14,060-13,060=1,000
Salary expense =30,390-22,550=7,840
Service fees earned = 816,780-803,920=12,860
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Debit
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Cash
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Accounts receivable
51,000
Interest receivable
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Notes receivable (due in 90 days)
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Land
84,000
Accounts payable
103,000
Interest payable
40,000
Salaries payable
23,000
Unearned fees
34,000
Long-term notes payable
152,000
Common stock
29,580
Retained earnings
266,220
Dividends
54,000
Fees earned
574,000
Interest earned
36,000
Depreciation expense—Automobiles
28,000...
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October 31, 2012 Unadjusted Adjusted Debit Credit Credit Balances Debit Balances Balances Balances Cash 16 16 38 44 12 10 Accounts Receivable Supplies Prepaid Insurance Land 20 8 26 26 40 40 8 12 26 26 0 2 20 20 Equipment Accumulated Depreciation-Equipment Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Insurance Expense "72 72 8 8 74 80 24 26 8 8 12 Ao Utilities Expense 4 4 0 4 Depreciation Expense...
The adjusted trial balance for Chiara Company as of December 31,
2017, follows.
Debit
Credit
Cash
$
225,300
Accounts receivable
51,000
Interest receivable
20,000
Notes receivable (due in 90 days)
172,000
Office supplies
16,000
Automobiles
169,000
Accumulated depreciation—Automobiles
$
105,000
Equipment
146,000
Accumulated depreciation—Equipment
19,000
Land
84,000
Accounts payable
103,000
Interest payable
40,000
Salaries payable
23,000
Unearned fees
34,000
Long-term notes payable
152,000
Common stock
29,580
Retained earnings
266,220
Dividends
54,000
Fees earned
574,000
Interest earned
36,000
Depreciation expense—Automobiles
28,000...
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