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Activity 1.a - Post Transactions to T-accounts Enter the transactions into the T-accounts and then into the four-column ledgers. Be sure to calculate the balance after each entry in the four-column ledgers. On Dec. 15, paid $7,000 cash for dividends. Dividends Dividends Date Explanation Ref Debit Credit Balance Cash Cash Date Explanation Ref Debit Credit Balance On Dec. 15, received 59,000 on account from a customer. Cash Cash Date Explanation Ref Debit Credit Balance Accounts Receivable Accounts Receivable Date Explanation...
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Pearson ACT-Accounting Cycle Tutorial Financial - Google Chrome act.pearsoncmg.com/activity/3/1/1 On Dec. 15, paid $5,000 for a one year insurance policy. Prepaid Insurance Dec. 15 Accounts p Prepaid Insurance Explanation Date Ref Debit Credit Balance Dec 15 5,000 5,000 Cash 5,000 Dec. 15 Cash Debit Date Explanation Ref Credit Balance De15 5,000 5.000 ttps/actpessoncmg.com/activity/3/1/1 Type here to search Cash Dec. 1 Cash Date Explanation Debit Ref Credit Balance Dec. 1 8000 8000 On Dec. 15, paid $5,000 for a one year...
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No. Debits 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment $ 2,400 4,250 1,800 12,000 No. Credits 154 Accumulated Depreciation-Equipment 201 Accounts Payable 209 Unearned Service Revenue 212 Salaries and Wages Payable 311 Common Stock 320 Retained Earnings $ 2,000 2,600 1,200 700 10,000 3,950 $20,450 $20,450 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 20 22 25 27 29 Paid $1,700 for salaries due employees, of which $700 is for October salaries....
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Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question.) Cash Date No. 101 Balance Debit Ref. Credit Explanation May 31 Balance Supplies Date No. 126 Balance Explanation Ref. Debit Credit May 31 Balance May 31 Adjusting Prepaid Insurance Date Explanation No. 130 Balance Credit May 31 Balance May 31...
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Can someone pls help me out I'm struggling very much. Thank
you!
Date Accounts Debit Credit Accounts Receivable Account No. 105 Dec. 31 Salaries Expense 3,600 Date Explanation Ref. Debit Credit Balance Salaries Payable 3,600 Beg, Balance 0 Dec, 15 Performed services on account 11 3,800 3,800 Date Accounts Debit Credit Dec, 25 Collected cash an account J1 3,800 0 Dec. 31 100 Dec. 28 Performed services on account J1 700 700 Depreciation Expense- Furniture Accumulated Depreciation - Furniture Bal....
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Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Pina Colada Company are as follows. Account No. 101 112 126 130 Receivable 200 Pina Colada Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Dr. Cash 5,200 Accounts Receivable 10,800 Supplies 1,200 Prepaid Insurance 2,100 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 14,000 Accounts Payable 6,300 Salaries and Wages Payable 2,300 Interest Payable 600 Common Stock 9,750 Retained...
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Selected transactions for Cullumber Couture during its first month in business are presented below. Shareholders invested NT$12,400 cash in the business in exchange for ordinary shares. Purchased equipment for NT$13,300 paying NT$4,300 in cash and the balance on account. Paid NT$1,080 cash on balance owed for equipment. Declared and paid a NT$880 cash dividend. Sept. 1 5 25 30 Cullumber's chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 311 Share Capital-Ordinary, and No....
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Thank you in advance :)
PART 10: Post and Close All Accounts Post the closing entries to the general ledger in RED order and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. Date Accounts Debit Credit Dec. 31 Retained Earnings 9,185 Salaries Expense 6,800 Depreciation Expense - Furniture 100 Insurance Expense 275 Utilities Expense 380 Rent Expense 1,500 Supplies Expense 130 Date Accounts Debit Credit Dec. 31...
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Accounting Cyde Review 7-01 a1-f2 Sunland Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger Balances related to both the general ledger and the subsidiary ledger for Sunland an indicated in the working papers. Presented below are a series of transactions for Sunland Co. for the month of January. Credit sales termes are 2/10, 130. The cost of all merchandise sold was 60% of the sale price. GENERAL LEDGER Account Number 101...
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SPARKLE CLEANING SERVICE Problem Data For the Month Ended July 31, 2016 Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions. July 1 Stockholders invested cash in the business in exchange for common stock. $15,000 1 Purchased a used cleaning truck on account. $12,000 3 Purchased cleaning supplies on account. $1,800 5 Paid on a one-year insurance policy, effective July 1. $2,100 12 Billed customers for cleaning services. $4,400 18 Paid...
Activity 1.a - Post Transactions to T-accounts Enter the transactions into the T-accounts and then into the four-column ledgers. Be sure to calculate the balance after each entry in the four-column ledgers. On Dec. 15, paid $7,000 cash for dividends. Dividends Dividends Date Explanation Ref Debit Credit Balance Cash Cash Date Explanation Ref Debit Credit Balance On Dec. 15, received 59,000 on account from a customer. Cash Cash Date Explanation Ref Debit Credit Balance Accounts Receivable Accounts Receivable Date Explanation...
Pearson ACT-Accounting Cycle Tutorial Financial - Google Chrome act.pearsoncmg.com/activity/3/1/1 On Dec. 15, paid $5,000 for a one year insurance policy. Prepaid Insurance Dec. 15 Accounts p Prepaid Insurance Explanation Date Ref Debit Credit Balance Dec 15 5,000 5,000 Cash 5,000 Dec. 15 Cash Debit Date Explanation Ref Credit Balance De15 5,000 5.000 ttps/actpessoncmg.com/activity/3/1/1 Type here to search Cash Dec. 1 Cash Date Explanation Debit Ref Credit Balance Dec. 1 8000 8000 On Dec. 15, paid $5,000 for a one year...
No. Debits 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment $ 2,400 4,250 1,800 12,000 No. Credits 154 Accumulated Depreciation-Equipment 201 Accounts Payable 209 Unearned Service Revenue 212 Salaries and Wages Payable 311 Common Stock 320 Retained Earnings $ 2,000 2,600 1,200 700 10,000 3,950 $20,450 $20,450 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 20 22 25 27 29 Paid $1,700 for salaries due employees, of which $700 is for October salaries....
Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question.) Cash Date No. 101 Balance Debit Ref. Credit Explanation May 31 Balance Supplies Date No. 126 Balance Explanation Ref. Debit Credit May 31 Balance May 31 Adjusting Prepaid Insurance Date Explanation No. 130 Balance Credit May 31 Balance May 31...
Can someone pls help me out I'm struggling very much. Thank
you!
Date Accounts Debit Credit Accounts Receivable Account No. 105 Dec. 31 Salaries Expense 3,600 Date Explanation Ref. Debit Credit Balance Salaries Payable 3,600 Beg, Balance 0 Dec, 15 Performed services on account 11 3,800 3,800 Date Accounts Debit Credit Dec, 25 Collected cash an account J1 3,800 0 Dec. 31 100 Dec. 28 Performed services on account J1 700 700 Depreciation Expense- Furniture Accumulated Depreciation - Furniture Bal....
Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Pina Colada Company are as follows. Account No. 101 112 126 130 Receivable 200 Pina Colada Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Dr. Cash 5,200 Accounts Receivable 10,800 Supplies 1,200 Prepaid Insurance 2,100 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 14,000 Accounts Payable 6,300 Salaries and Wages Payable 2,300 Interest Payable 600 Common Stock 9,750 Retained...
Selected transactions for Cullumber Couture during its first month in business are presented below. Shareholders invested NT$12,400 cash in the business in exchange for ordinary shares. Purchased equipment for NT$13,300 paying NT$4,300 in cash and the balance on account. Paid NT$1,080 cash on balance owed for equipment. Declared and paid a NT$880 cash dividend. Sept. 1 5 25 30 Cullumber's chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 311 Share Capital-Ordinary, and No....
Thank you in advance :)
PART 10: Post and Close All Accounts Post the closing entries to the general ledger in RED order and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. Date Accounts Debit Credit Dec. 31 Retained Earnings 9,185 Salaries Expense 6,800 Depreciation Expense - Furniture 100 Insurance Expense 275 Utilities Expense 380 Rent Expense 1,500 Supplies Expense 130 Date Accounts Debit Credit Dec. 31...
Accounting Cyde Review 7-01 a1-f2 Sunland Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger Balances related to both the general ledger and the subsidiary ledger for Sunland an indicated in the working papers. Presented below are a series of transactions for Sunland Co. for the month of January. Credit sales termes are 2/10, 130. The cost of all merchandise sold was 60% of the sale price. GENERAL LEDGER Account Number 101...
SPARKLE CLEANING SERVICE Problem Data For the Month Ended July 31, 2016 Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions. July 1 Stockholders invested cash in the business in exchange for common stock. $15,000 1 Purchased a used cleaning truck on account. $12,000 3 Purchased cleaning supplies on account. $1,800 5 Paid on a one-year insurance policy, effective July 1. $2,100 12 Billed customers for cleaning services. $4,400 18 Paid...