Journal entry | |||||||
S.no. | Accounts title and explanations | Debit $ | Credit $ | ||||
a. | Rent expenses (4800*2) | 9,600 | |||||
Misc. expense | 4,800 | ||||||
Cash account | 4800 | ||||||
(for correcting the entry for rent expenses) | |||||||
b. | Accounts payable | 3,300 | |||||
Accounts receivable | 3,300 | ||||||
(for cash received entry rectified) | |||||||
Instruction Chart of Accounts Journal A 1: III nstructions On March 1, it was discovered that...
nstructions Journal The following errors took place in journalizing and posting transactions: Journalize the entries on December 31 to correct the errors. Use two entries to correct the error described in A. (That is, record an entry to reverse the incorrect entry and a second entry to record the corre a. Insurance of $18,000 paid for the current year was recorded as a debit to Insurance Expense and a credit wording of account titles. to Prepaid Insurance b. Dividends of...
me now Calculator Journal entry for fees earned Instructions Chart of Accounts Journal Instructions X Prepare a journal entry on April 30 for fees earned on account, $8,200. Refer to the Chart of Accounts for exact wording of account titles instructions Chart of Accounts Journal Instructions Chart of Accounts x Pr! ou of CHART OF ACCOUNTS General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 42 Sales Commission 13 Supplies 14 Prepaid Rent 15 Land 16 Equipment...
Instructions Chart of Accounts Journal Final Question Instructions On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty: • The supplies account balance on March 31 is $5,620, the supplies on hand on March 31 are $1,290. • The unearned rent account balance on March 31 is $5,000 representing the receipt of an advance payment on March 1 of four months' rent from tenants. • Wages accrued but not paid...
may for purchase Instruction Chart of Accounts Journal A 4 of 5:29 AM 20000 y uno el LK L VI BNM.. eBook Show Me How Calculator Print Item Journal entry for asset purchase Instructions Chart of Accounts Journal Instructions Chart of Accounts CHART OF ACCOUNTS the remainder on account General Ledger ASSETS REVENUE 41 Fees Eamed 42 Sales Commission 11 Cash 12 Accounts Receivable 13 Ofice Supplies 14 Prepaid Insurance 15 Land 16 Office Equipment 17 Automobiles EXPENSES 51 Advertising...
Instructions Chart of Accounts Journal T Accounts Unadjusted Trial Balance Final Questions Instructions On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct 1 2 3 4 5 6 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $40,000. Paid rent on office and equipment for the month, $4,800. Purchased supplies on account, $2,150. Paid creditor on account,...
Journal Final Question Instructions On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty • The suppiles account balance on March 31 is $5,635, the supplies on hand on March 31 are $1,495. • The unearned rent account balance on March 31 is 84,800 representing the receipt of an advance payment on March 1 of four months' rent from tenants, • Wages accrued but not paid at March 31 aro...
Calculator Instruction Chart of Accounts General Journal Final Question Instruction REM Consulting is completing the accounting information processing at the end of the fiscal year, December 31. The following trial balances are available Accounts Unadjusted Trial Adjusted Trial Debit Credit Debit Credit Cash 13,000 13,000 Accounts Receivable 1,500 1,800 Prepaid Insurance 600 200 Supplies 3,800 3,000 Machines 30,000 30,000 Accumulated Depreciation 12,000 17,500 Wages Payable 900 Uneamed Fees 6,700 6,500 Common stock 24,000 24,000 Dividends 4.800 4,800 Fees Earned 25,000...
Chart of Accounts Journal Final Question On December 31, the following data were accumulated for preparing the adjusting entries for Bellingham Really The supplies account balance on December 31 is $5,865, The supplies on hand on December 31 are $1,330 The uneamed rent account balance on December 31 is SA, 100 representing the receipt of an advance pay menton Dece ber 1four months rent from tenants Wages accrued but not paid at December 31 are $2,030 Fees eaned but unbilled...
Chart of Accounts structions Al the end of the current year, 559,500 of fees have been earned but have not been biled to clients. Required: A Journalize the adjusting entry to record the accrued fees on December 31. Refer to the Chart of Accounts for exact wording of account bites. B. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? LIABILITIES 56 Utilities Expense 57 Depreciation Expense 21 Accounts Payable...
• The supplies account balance on March 31 is $6,620, the supplies on hand on March 31 are $1,290. • The unearned rent account balance on March 31 is $5,000 representing the receipt of an advance payment on March 1 of four months' rent from tenants. Wages accrued but not paid at March 31 are $2,290. • Fees accrued but unbilled at March 31 are $16,825 • Depreciation of office equipment is $4,600. Required: 1. Journalize the adjusting entries required...