Homework Answers
Closing entries
| No | General Journal | Debit | Credit |
| 1 | Service revenue | 338 | |
| Retained earnings | 338 | ||
| 2 | Retained earnings | 24 | |
| Rent expense | 13 | ||
| Supplies expense | 11 | ||
| 3 | Retained earnings | 8 | |
| Dividend | 8 | ||
So answer is a) Debit service revenue $338; Credit retained earnings $338
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13 43 ***Question #6*** • GoBuffs has the following adjusted trial balance: Cash 11 Accounts Payable...
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:
A company had the following adjusted trial balance
A company had the following adjusted trial balance on December 31, 2012:Cash$5,000Accounts Receivable5,500Supplies1,800Prepaid Rent36,000Land7,000Accounts Payable$1,000Unearned Service Revenue3,500Common Stock44,000Retained Earnings10,500Dividends3,300Service Revenue156,250Salaries Expense152,000Rent Expense900Utilities Expense1,650Supplies Expense2,100$215,250$215,250 The closing entry to close the Income Summary would include which entry to Retained Earnings?Group of answer choicescredit of $400debit of $400credit of $3,700debit of $3,700debit of $2,900
Adjusted Trial Balance Account Titles Debit Credit Cash $3,740 Accounts Receivable 3,960 Supplies 440 Accounts Payable...
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Question 17 0.5 pts A company has the following adjusted trial balance: Debit Credit 700 300...
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Using the information from the Adjusted Trial Balance, journalize the closing entries for the end of...
Using the information from the Adjusted Trial Balance,
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Activity 3.a - Journalize Closing Entries Using the information from the Adjusted Trial Balance, journalize the closing entries for the end of the month. SMART TOUCH LEARNING Date Accounts and Explanation Debit Credit Adjusted Trial Balance December 31, 2016 Balance Debit Credit Account Title Cash 17,900 Accounts Receivable 9,900 Date Accounts and Explanation Debit Credit Office Supplies 200 Prepaid Rent 11,900 Furniture...
Presented below is an adjusted trial balance for Shawn Company, at December 31, 2018. Cash $...
Presented below is an adjusted
trial balance for Shawn Company, at December 31, 2018. Cash $ 7,700
Accounts payable $10,000 Accounts receivable 20,000 Notes payable
9,000 Prepaid insurance 15,000 Accumulated depreciation—Equipment
14,000 Equipment 35,000 Service revenue 29,000 Depreciation expense
7,000 Common stock 10,000 Dividends 1,500 Retained earnings 14,000
Advertising expense 1,400 Unearned service revenue 16,000 Rent
expense 800 Salaries and wages expense 12,000 Insurance expense
1,600 $102,000 $102,000
Question 5 Presented below is an adjusted trial balance for Shawn Company,...
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:
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Using the information from the Adjusted Trial Balance,
journalize the closing entries for the end of the month.
Activity 3.a - Journalize Closing Entries Using the information from the Adjusted Trial Balance, journalize the closing entries for the end of the month. SMART TOUCH LEARNING Date Accounts and Explanation Debit Credit Adjusted Trial Balance December 31, 2016 Balance Debit Credit Account Title Cash 17,900 Accounts Receivable 9,900 Date Accounts and Explanation Debit Credit Office Supplies 200 Prepaid Rent 11,900 Furniture...
Presented below is an adjusted
trial balance for Shawn Company, at December 31, 2018. Cash $ 7,700
Accounts payable $10,000 Accounts receivable 20,000 Notes payable
9,000 Prepaid insurance 15,000 Accumulated depreciation—Equipment
14,000 Equipment 35,000 Service revenue 29,000 Depreciation expense
7,000 Common stock 10,000 Dividends 1,500 Retained earnings 14,000
Advertising expense 1,400 Unearned service revenue 16,000 Rent
expense 800 Salaries and wages expense 12,000 Insurance expense
1,600 $102,000 $102,000
Question 5 Presented below is an adjusted trial balance for Shawn Company,...
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