Hello I need some helps filling the blanks under the debit and
credit lines.
Homework Answers
T account
| Retained earnings | |||
| Dividend | 1500 | Jan 1 | 12000 |
| Net income | 14200 | ||
| Dec 31 | 24700 | ||
Net income = Revenue-Expense
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Hello I need some helps filling the blanks under the debit and
credit lines.
Cash Question...
Question Three: 20 marks (5 marks each): Presented below is an adjusted trial balance for Cowell...
Question Three: 20 marks (5 marks each): Presented below is an adjusted trial balance for Cowell Company, at December 31, 2017 Cash €10,700 Accounts payable €10,000 Accounts receivable 20,000 Notes payable 9,000 Prepaid insurance 15,000 Accumulated depreciation- Equipment 35,000 equipment 14,000 Depreciation expense 7,000 Service revenue 30,000 Dividends 1,500 Retained earnings 12,000 Advertising expense 1,400 Unearned service revenue 11,000 Rent expense 800 Share capital-ordinary 12,000 Salaries and wages expense 5,000 Insurance expense 1,600 €98.000 €98.000 Instructions: Post the closing entries...
can i get some help with these questions please? Question Two: (25 Marks: 5 marks each):...
can i get some help with these questions please?
Question Two: (25 Marks: 5 marks each): On September 1, Reid Supply had an inventory of 15 backpacks at a cost of $20 each. The company uses a perpetual inventory system. During September, the following transactions and events occurred. Sept. 4 Purchased 80 backpacks at $20 each from Hunter, terms 2/10, n/30. Sept. 6 Received credit of $120 for the return of 6 backpacks purchased on Sept. 4 that were defective....
Debit Credit Cash $615 Accounts receivable 776 1156 Inventory Prepaid rent 32 Equipment 110 Accumulated depreciation...
Debit Credit Cash $615 Accounts receivable 776 1156 Inventory Prepaid rent 32 Equipment 110 Accumulated depreciation equipment Accounts payable Unearned service revenue Common stock Retained earnings Service revenue Interest revenue Salaries and wages expense Travel expense Total $2773 $2773 After closing entries have been posted, the balance in retained earnings will be:
Given the following adjusted trial balance: Debit Credit Cash $648 Accounts receivable 818 Inventory 1218 Prepaid...
Given the following adjusted trial balance: Debit Credit Cash $648 Accounts receivable 818 Inventory 1218 Prepaid rent 34 120 $20 Equipment Accumulated depreciation-equipment Accounts payable Unearned service revenue 32 48 Common stock 78 Retained earnings 2580 Service revenue 144 22 Interest revenue Salaries and wages expense 60 Travel expense 26 Total $ 2924 $2924 After closing entries have been posted, the balance in retained earnings will be:
Journal Entry Accounts Debit Credit Data Table - X Date (1) Jan 31 i Requirements 12,500...
Journal Entry Accounts Debit Credit Data Table - X Date (1) Jan 31 i Requirements 12,500 17,100 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Valley Haven's closing entries at January 31, 2018. 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Valley Haven's net income for the year ended January 31, 2018. What is the ending balance of Retained Earnings?...
need help filling in the blanks given this data on this trial and adjusted trial balance...
need help filling in the blanks given this data on this trial and
adjusted trial balance
Trial Balance Debit Credit Adjusted Trial Balance Debit Credit 33,000 19,000 25,000 6,000 11,000 Account Titles Accounts Receivable Prepaid Insurance Supplies Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Insurance Expense Depreciation Expense Supplies Expense Salaries and Wages Expense 4,000 96,000 87,000 9,000 4,000 48,000 Your answer is partially correct. Try again Account Titles and Explanation Debit Credit Accounts Receivable Service Revenue (To record...
Question 17 0.5 pts A company has the following adjusted trial balance: Debit Credit 700 300...
Question 17 0.5 pts A company has the following adjusted trial balance: Debit Credit 700 300 100 4,000 2,200 300 200 Cash Accounts receivable Prepaid rent Equipment Accumulated depreciation Equipment Accounts payable Unearned service revenue Common stock Retained earnings Service revenue Interest revenue Salaries and wages expense Depreciation expense Rent expense Total 500 1,000 2,500 100 800 500 400 6,800 6,800 After closing entries have been journalized and posted, the post-closing trial balance total for the credit column will be...
Refer to the following adjusted trial balance after the first year of operations. Accounts Debit Credit...
Refer to the following adjusted trial balance after the first year of operations. Accounts Debit Credit Cash $ 1,600 Accounts Receivable 8,200 Office Supplies 500500 Equipment 19,600 Accumulated Depreciation - Equipment $ $2,000 Accounts Payable 1,700 Salaries Payable 800 Unearned Revenue 500500 Common Stock 3,900 Dividends 3,000 Service Revenue 49,100 Salaries Expense 21,000 Supplies Expense 2,400 Depreciation Expense— Equipment 1,700 Total $58,000 $58,000 What will the balance of the Retained Earnings account be after the closing entries are posted? A....
Refer to the following adjusted trial balance after the first year of operations. Credit Debit $1,900...
Refer to the following adjusted trial balance after the first year of operations. Credit Debit $1,900 - 200 2,000 20.300 Accounts Cash Accounts Receivable Office Supplies Prepaid Insurance Expense Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Common Stock - Dividends Sales Revenue Salaries Expense Cost of Goods Sold Supplies Expense Depreciation Expense Total $2.000 1,000 850 400 3,600 3,000 55,150 23,000 1,500 500 1.700 $63.000 $63.000 What will the balance of the Retained Earnings account be after...
The following is the adjusted trial balance for Baker Services. Accounts Debit Credit Cash $50,700 Accounts...
The following is the adjusted trial balance for Baker Services. Accounts Debit Credit Cash $50,700 Accounts Receivable 30,000 Prepaid Insurance 6,500 Office Supplies 3,000 Land 50,000 Building 140,000 Accumulated Depreciation—Building $16,500 Equipment 76,000 Accumulated Depreciation—Equipment 7,000 Accounts Payable 27,000 Salaries Payable 3,000 Unearned Revenue 24,000 Mortgage Payable 102,000 Baker, Capital 25,500 Baker, Withdrawals 25,000 Service Revenue 290,000 Salaries Expense 63,000 Depreciation Expense—Building and Equipment 6,000 Supplies Expense 11,000 Insurance Expense 14,800 Utilities Expense 19,000 Total $495,000 $495,000 There were no...
Question Three: 20 marks (5 marks each): Presented below is an adjusted trial balance for Cowell Company, at December 31, 2017 Cash €10,700 Accounts payable €10,000 Accounts receivable 20,000 Notes payable 9,000 Prepaid insurance 15,000 Accumulated depreciation- Equipment 35,000 equipment 14,000 Depreciation expense 7,000 Service revenue 30,000 Dividends 1,500 Retained earnings 12,000 Advertising expense 1,400 Unearned service revenue 11,000 Rent expense 800 Share capital-ordinary 12,000 Salaries and wages expense 5,000 Insurance expense 1,600 €98.000 €98.000 Instructions: Post the closing entries...
can i get some help with these questions please?
Question Two: (25 Marks: 5 marks each): On September 1, Reid Supply had an inventory of 15 backpacks at a cost of $20 each. The company uses a perpetual inventory system. During September, the following transactions and events occurred. Sept. 4 Purchased 80 backpacks at $20 each from Hunter, terms 2/10, n/30. Sept. 6 Received credit of $120 for the return of 6 backpacks purchased on Sept. 4 that were defective....
Debit Credit Cash $615 Accounts receivable 776 1156 Inventory Prepaid rent 32 Equipment 110 Accumulated depreciation equipment Accounts payable Unearned service revenue Common stock Retained earnings Service revenue Interest revenue Salaries and wages expense Travel expense Total $2773 $2773 After closing entries have been posted, the balance in retained earnings will be:
Given the following adjusted trial balance: Debit Credit Cash $648 Accounts receivable 818 Inventory 1218 Prepaid rent 34 120 $20 Equipment Accumulated depreciation-equipment Accounts payable Unearned service revenue 32 48 Common stock 78 Retained earnings 2580 Service revenue 144 22 Interest revenue Salaries and wages expense 60 Travel expense 26 Total $ 2924 $2924 After closing entries have been posted, the balance in retained earnings will be:
Journal Entry Accounts Debit Credit Data Table - X Date (1) Jan 31 i Requirements 12,500 17,100 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Valley Haven's closing entries at January 31, 2018. 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Valley Haven's net income for the year ended January 31, 2018. What is the ending balance of Retained Earnings?...
need help filling in the blanks given this data on this trial and
adjusted trial balance
Trial Balance Debit Credit Adjusted Trial Balance Debit Credit 33,000 19,000 25,000 6,000 11,000 Account Titles Accounts Receivable Prepaid Insurance Supplies Accumulated Depreciation-Equipment Salaries and Wages Payable Service Revenue Insurance Expense Depreciation Expense Supplies Expense Salaries and Wages Expense 4,000 96,000 87,000 9,000 4,000 48,000 Your answer is partially correct. Try again Account Titles and Explanation Debit Credit Accounts Receivable Service Revenue (To record...
Question 17 0.5 pts A company has the following adjusted trial balance: Debit Credit 700 300 100 4,000 2,200 300 200 Cash Accounts receivable Prepaid rent Equipment Accumulated depreciation Equipment Accounts payable Unearned service revenue Common stock Retained earnings Service revenue Interest revenue Salaries and wages expense Depreciation expense Rent expense Total 500 1,000 2,500 100 800 500 400 6,800 6,800 After closing entries have been journalized and posted, the post-closing trial balance total for the credit column will be...
Refer to the following adjusted trial balance after the first year of operations. Credit Debit $1,900 - 200 2,000 20.300 Accounts Cash Accounts Receivable Office Supplies Prepaid Insurance Expense Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Common Stock - Dividends Sales Revenue Salaries Expense Cost of Goods Sold Supplies Expense Depreciation Expense Total $2.000 1,000 850 400 3,600 3,000 55,150 23,000 1,500 500 1.700 $63.000 $63.000 What will the balance of the Retained Earnings account be after...
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