Homework Answers
1.Dividends
|
Cash |
$7,000 |
Retained earnings |
$7,000 |
Cash
|
Dividends |
$7,000 |
||
2.Cash
|
Accounts receivable |
$9,000 |
||
Accounts receivables
|
Cash |
$9,000 |
||
Four column ledgers
Dividends
|
Date |
Debit |
Credit |
Balance |
|
15 Dec |
$7,000 |
$7000 |
Cash
|
Date |
Debit |
Credit |
Balance |
|
15 Dec |
$7,000 |
$7,000 |
Cash
|
Date |
Debit |
Credit |
Balance |
|
15 Dec |
$9,000 |
$9,000 |
Accounts receivables
|
Date |
Debit |
Credit |
Balance |
|
15 Dec |
$9,000 |
$9,000 |
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Activity 1.a - Post Transactions to T-accounts Enter the transactions into the T-accounts and then into...
Enter the transactions into the T-accounts and then into the four-column ledgers. Be sure to calculate...
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. 1, paid $6,000 cash for salaries. Salaries Expense Salaries Expense Date Explanation Ref Debit Credit Balance Balance Del 1 Cash Cash Date Explanation Ref Debit Credit Balance Dec 1 On Dec. 5, purchased $8,000 of equipment on account Equipment Dec, 1 Equipment Dec 3 Date Explanation Ret Debit Credit Balance Dec. 5 Dec....
Pearson ACT-Accounting Cycle Tutorial Financial - Google Chrome act.pearsoncmg.com/activity/3/1/1 On Dec. 15, paid $5,000 for a...
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...
Activity 1.a - Post Transactions to T-accounts Use the information provided in the journal entry to...
Activity 1.a - Post Transactions to T-accounts Use the information provided in the journal entry to post the transaction to the t-account. Post in DR/CR order Accounts and Explanation Debit Date Credit 21.000 Nov. 2 Cash Accounts Receivable Received cash on account from customer Date Accounts and Explanation Debit Credit Nov.s Building 41.200 Notes Payable 41.200 Purchase of building with note Accounts and explanation Debit Credit 4700 Pod for poly Date Accounts and Explanation Debit Credit Nov. 12 Land Cash...
Activity 1.a - Post Transactions to T-accounts Use the information provided in the journal entry to...
Activity 1.a - Post Transactions to T-accounts
Use the information provided in the journal entry to post the
transaction to the t-account. Post in DR/CR order.
Use the information provided in the journal entry to post the transaction to the t-account. Post in DR/CR order Date Accounts and Explanation Debit Credit Nov. 2 Utilities Expense 43,600 Utilities Payable 43,600 Accrued liability for utilities. Date Accounts and Explanation Debit Credit Nov. 4 Cash 47,200 Service Revenue 47,200 Collected cash for services...
Thank you in advance :) PART 10: Post and Close All Accounts Post the closing entries...
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...
PART 2: Post to the Ledger Post all transactions to the t-accounts and calculate ending balances....
PART 2: Post to the Ledger Post all transactions to the t-accounts and calculate ending balances. Be sure to enter a zero on the normal side of the account for any accounts with a zero balance. Post all transactions in chronological order. Enter your solutions in the first available cell in each T-Account. Date Accounts Debit Credit Dec. 1 Cash 21,400 Furniture 11,500 Common Stock 32,900 Date Accounts Debit Credit Dec. 1 Prepaid Insurance 1,700 Cash 1,700 Date Accounts Debit...
PART 10: Post and Close All Accounts Post the closing entries to the general ledger in...
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 Service Revenue 22,700 Retained Earnings 22,700 Date Accounts Debit Credit Dec. 31 Retained Earnings 8,385 Salaries Expense 5,500 Depreciation Expense - Furniture 300 Insurance Expense 375 Utilities Expense 240 Rent Expense 1,900 Supplies Expense...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2-30 are as follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $4,680. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $1,990. Apr. 13. Issued Invoice No. 795 to Shilo Co., $3,450. Post revenue and collections...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2–30 are as follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $6,260. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $2,260. Apr. 13. Issued Invoice No. 795 to Shilo Co., $3,360. Post revenue and collections...
Instructions 1. Enter February transactions in the general journal. 2. Post the transactions to the general...
Instructions 1. Enter February transactions in the general journal. 2. Post the transactions to the general ledger. 3. Prepare a trial balance. 4, Journalize and post adjusting entries. 5. Prepare an adjusted trial balance. 6. Prepare an A/P & A/R schedule to verify ending account balances. (The A/R schedule lists customers names and balances at the end of February. The total of the A/R schedule should equal the A/R balance on the trial balance. Similarly, the A/P schedule lists creditors...
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. 1, paid $6,000 cash for salaries. Salaries Expense Salaries Expense Date Explanation Ref Debit Credit Balance Balance Del 1 Cash Cash Date Explanation Ref Debit Credit Balance Dec 1 On Dec. 5, purchased $8,000 of equipment on account Equipment Dec, 1 Equipment Dec 3 Date Explanation Ret Debit Credit Balance Dec. 5 Dec....
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...
Activity 1.a - Post Transactions to T-accounts Use the information provided in the journal entry to post the transaction to the t-account. Post in DR/CR order Accounts and Explanation Debit Date Credit 21.000 Nov. 2 Cash Accounts Receivable Received cash on account from customer Date Accounts and Explanation Debit Credit Nov.s Building 41.200 Notes Payable 41.200 Purchase of building with note Accounts and explanation Debit Credit 4700 Pod for poly Date Accounts and Explanation Debit Credit Nov. 12 Land Cash...
Activity 1.a - Post Transactions to T-accounts
Use the information provided in the journal entry to post the
transaction to the t-account. Post in DR/CR order.
Use the information provided in the journal entry to post the transaction to the t-account. Post in DR/CR order Date Accounts and Explanation Debit Credit Nov. 2 Utilities Expense 43,600 Utilities Payable 43,600 Accrued liability for utilities. Date Accounts and Explanation Debit Credit Nov. 4 Cash 47,200 Service Revenue 47,200 Collected cash for services...
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...
PART 2: Post to the Ledger Post all transactions to the t-accounts and calculate ending balances. Be sure to enter a zero on the normal side of the account for any accounts with a zero balance. Post all transactions in chronological order. Enter your solutions in the first available cell in each T-Account. Date Accounts Debit Credit Dec. 1 Cash 21,400 Furniture 11,500 Common Stock 32,900 Date Accounts Debit Credit Dec. 1 Prepaid Insurance 1,700 Cash 1,700 Date Accounts Debit...
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 Service Revenue 22,700 Retained Earnings 22,700 Date Accounts Debit Credit Dec. 31 Retained Earnings 8,385 Salaries Expense 5,500 Depreciation Expense - Furniture 300 Insurance Expense 375 Utilities Expense 240 Rent Expense 1,900 Supplies Expense...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2-30 are as follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $4,680. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $1,990. Apr. 13. Issued Invoice No. 795 to Shilo Co., $3,450. Post revenue and collections...
Instructions 1. Enter February transactions in the general journal. 2. Post the transactions to the general ledger. 3. Prepare a trial balance. 4, Journalize and post adjusting entries. 5. Prepare an adjusted trial balance. 6. Prepare an A/P & A/R schedule to verify ending account balances. (The A/R schedule lists customers names and balances at the end of February. The total of the A/R schedule should equal the A/R balance on the trial balance. Similarly, the A/P schedule lists creditors...
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