TRIAL BALANCE | ||
Particulars | Debit | Credit |
Cash (400000-36000+20000-2000-48000-12000-20000-11000+20000+30000-40000-1200+15000-12000-10000-1000-90000) | 201800 | |
Common stock | 200000 | |
Securities premium | 200000 | |
Office equipment | 36000 | |
12% note payable | 20000 | |
Office supplies | 2000 | |
Prepaid rent | 48000 | |
Prepaid insurance | 12000 | |
Merchandise inventory(20000+40000) | 60000 | |
Machinery | 11000 | |
Sales(20000+30000+10000+15000) | 75000 | |
Accounts receivable (20000-20000+10000-2500 | 7500 | |
Interest expense (20000*0.12/2) | 1200 | |
Sales return | 2500 | |
Prepaid security service | 12000 | |
Short term marketable securities | 10000 | |
Electricity expense | 1000 | |
Salaries expense (7500*12) | 90000 | |
495000 | 495000 |
I need help on the trial balance its not balancing. transactions are shown below. Note that...
Prepare a trial balance given the following transactions
Required information [The following information applies to the questions displayed below.] Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $32,000 in cash. 2. January 5 Purchase land for $19,000. A note payable is signed for the full amount. 3. January 9 Purchase storage container...
The T own IJ W PUSE LIUSing tral balance for A-2 Construction. Credit 440.000 A-Z Construction Post-Closing Trial Balance December 31, 2018 Cash Debit 65,000 Accounts receivable 20,000 Supplies 1.000 Prepaid Insurance 6,000 Prepaid Taxes T 5,000 Office Equipment 4,000 Accumulated Depreciation - Office Equipment 1,000 Construction equipment 100,000 Accumulated Depreciation - Construction Equipment 20,000 Building Accumulated Depreciation - Building 10,000 Land - 500.000 Accounts Payable 40,000 Salaries payable . : 3,000 Interest payable 60,000 Taxes payable 0 Unearned revenue...
unadjusted Trial Balance
need this put in cells
**if you write this out on paper. please write
neatly**
Problem Section: Complete the accounting cycle for the period January 1 to February 28, 2018. We Do Taxes Company started operations as of January 1, 2018 and set up a small office in Edison to prepare tax returns and perform accounting services. Use the information to follow to journalize each transaction on the Journal Sheet. Jan 1 Contributed the following assets for...
NEED BALANCE SHEET AND INCOME STATEMENT (INCOME
STATEMENT IS NOT SHOWN BUT I NEED IT) PART C AND D D IS
NOT SHOWN BECAUSE C NEEDS TO BE CORRECT BUT D IS ASKING FOR INCOME
STATEMENT I HAVE PROVIDED ALL DATA
Problem 16-02A a-d (Part Level Submission) (Video) In January 2020, the management of Sheridan Company concludes that it has sufficient cash to permit some short-term investments in debt and stock securities. During the year, the following transactions occurred. Feb....
Knowledge Check 01 The inventory transactions of VTS Corporation are shown below. Date Transaction Number of Units Unit Cost/Price Jan. 1 Beginning inventory 500 $ 10 Feb. 25 Sale 300 20 May 21 Purchase 400 12 Jul. 15 Purchase 500 15 Dec. 10 Sale 800 20 All purchase/sale transactions are made on credit. The company uses the FIFO method and the perpetual inventory system to record transactions. The entry to record the transaction on December 10 will involve a debit...
I
need help completing journal entries for the following events
Acct 2400 Project 2- Merchandise Inventory & Sale 2. Following is a list of events that occurred during 2018. a) Jan 6, 2018 - Lawn Pro paid the salaries payable from 2017. b) Jan 14, 2018 - The company acquired an additional $50,000 cash from the issue of common stock c) Jan 17, 2018 - The company paid $900 cash for supplies to be used by the business. d) Jan...
Course WUIK Prepare Journal, Ledger & Trial Balance with the help of following transactions in the books of Mr. Jacob the year 2020 Feb-3rd Business started with cash- AED 600,000 2. Feb -5th Machinery purchased- AED 175,000 3 Feb-8th - Cash sales- AED 55,000 4. Feb - 10th - Rent paid- AED 20,000 5. Feb - 12th - Credit Purchases from Thomas - AED 70,000 6. Feb 26th-Cash paid to Mr. Thomas- AED 30,000 7. Feb 27th - Vehicle purchased...
Exercise 3-20A Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) On January 1, 2021, Red Flash Photography had the following balances: Cash, $20,000; Supplies, $8,800; Land, $68,000; Deferred Revenue, $5,800; Common Stock $58,000; and Retained Earnings, $33,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $ 28,000. 2. May 20 Provide services to customers for cash, $ 43,000, and...
Question 6: Master Budgeting • Time: 40 minutes Total: 24 marks The following information pertains to Stark Corporation Jan Feb Mar Apr May June $30,000 34,000 38.000 42.000 48.000 60,000 $10,000 12.000 14.000 16.000 18.000 20,000 Cash is collected from customers in the following manner 30% Month of sale Month following sale Two months following sale Amount uncollectible SOX 15% 5% * Customers paying in the month of sale receive a 2% cash discount. 40% of purchases are paid for...
need help with part 1 & 2
1. Post and calculate trial balance for the following transactions for 'AAA Catering! Jan. 1 Stockholders invested $20,000 cash in the business in exchange of comm. stock 2 Paid $1,000 cash for store rent for the month of January 3 Purchased washers and dryers (laundry equipment) for $25,000 paying $10,000 in cash and signing a $15,000 note payable 4 Paid $1,200 cash for a one-year accident insurance policy 10 Declared and paid a...