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Current Attempt in Progress On December 31, the adjusted trial balance of Larkspur, Inc. shows the...
Current Attempt in Progress On December 31, the adjusted trial balance of Marin Inc. shows the...
Current Attempt in Progress On December 31, the adjusted trial balance of Marin Inc. shows the following selected data: Accounts receivable Interest expense $9,780 12,850 Service revenue Interest payable $112,400 6,490 Analysis shows that adjusting entries had been made, and included above, for (1) $9,780 of services performed but not bille (2) $6,490 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented w amount is entered. Do...
On December 31. the adjusted trial balance of Splish Brothers Inc. shows the following selected data:...
On December 31. the adjusted trial balance of Splish Brothers Inc. shows the following selected data: Accounts receivable $9,230 Service revenue $107,100 Interest expense 12,670 Interest payable 6,950 Analysis shows that adjusting entries had been made, and included above, for (1) $9.230 of services performed but not billed, and (2) $6,950 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent...
Current Attempt in Progress Crane Company's trial balance at December 31 shows Supplies $8,840 and Supplies...
Current Attempt in Progress Crane Company's trial balance at December 31 shows Supplies $8,840 and Supplies Expense $0.On December 31, there are $2,060 of supplies on hand. Your answer is partially correct. Prepare the adjusting entry at December 31. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31...
On December 31, 2018 the adjusted trial balance of the Yellin Personnel Agency shows the following...
On December 31, 2018 the adjusted trial balance of the Yellin Personnel Agency shows the following selected data: Accounts Receivable, $8,000 Service Revenue, $60,000 Interest Expense, $10,500 Interest Payable, $3,500 Utilities Expense, $4,800 Accounts Payable, $2,700 Analysis indicates that adjusting entries were made for (a) $8,000 of employment commission revenue earned but not billed, (b) $3,500 of accrued but unpaid interest, and (c) $2,700 of utilities expense accrued but not paid. Prepare the closing entries at December 31, 2018. (Credit...
Current Attempt in Progress The lediger of Larkspur, Inc. on March 31, 2017, includes the following...
Current Attempt in Progress The lediger of Larkspur, Inc. on March 31, 2017, includes the following selected accounts before adjusting entries. Debit Credit 4,100 Supplies Prepaid Insurance 2.240 25.500 Equipment Unearned Service Revenue 12,300 An analysis of the accounts shows the following 1. Insurance expires at the rate of $280 per month 2 Supplies on hand total $960. 3. The equipment depreciates $170 per month 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the...
View Policies Current Attempt in Progress On December 31, 2020. Teal Inc. has a machine with...
View Policies Current Attempt in Progress On December 31, 2020. Teal Inc. has a machine with a book value of $1,090,400. The original cost and related accumulated depreciation at this date are as follows. Machine Less: Accumulated depreciation Book value $1.500.000 417,600 $1,090,400 Depreciation is computed at $49.600 per year on a straight-line basis. Presented below is a set of independent situations. For each independent situation, indicate the journal entry to be made to record the transaction. Make sure that...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Sarasota...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Sarasota Corp. is provided below. Credit Debit $69,700 25,250 12,670 204,290 87,460 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $50,880 110,210 21,980 176,450 5,950 3,460 59,330 1,340 Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually....
Exercise 4-19 a-e On December 31, the adjusted trial balance of Culver Employment Agency shows the...
Exercise 4-19 a-e On December 31, the adjusted trial balance of Culver Employment Agency shows the following selected data. Accounts Receivable Interest Expense $24,900 7,800 Service Revenue Interest Payable $91,500 2,900 Analysis shows that adjusting entries were made to (1) accrue $6,000 of service revenue and (2) accrue $2,900 interest expense. Prepare the closing entries for the temporary accounts shown above at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal...
Current Attempt in Progress At December 31, 2019, Sheffield Corp.reported the following information on its balance...
Current Attempt in Progress At December 31, 2019, Sheffield Corp.reported the following information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $938,000 73,000 During 2020, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible $3,889,250 55,000 2,763,000 91,000 28,000 Prepare the journal entries to record each...
Current Attempt in Progress Boom Company shows the following balances in selected accounts of its adjusted...
Current Attempt in Progress Boom Company shows the following balances in selected accounts of its adjusted trial balance $26.880 5.040 Supplies Supplies Expense Accounts Receivable Dividends Retained Earnings 10,080 18.480 58.800 Service Revenue 90.720 Salaries and Wages Expense Utilities Expense 33.600 6.720 15.120 Rent Expense Prepare the remaining closing entries at December 31 no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when the amount is entered....
Current Attempt in Progress On December 31, the adjusted trial balance of Marin Inc. shows the following selected data: Accounts receivable Interest expense $9,780 12,850 Service revenue Interest payable $112,400 6,490 Analysis shows that adjusting entries had been made, and included above, for (1) $9,780 of services performed but not bille (2) $6,490 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented w amount is entered. Do...
On December 31. the adjusted trial balance of Splish Brothers Inc. shows the following selected data: Accounts receivable $9,230 Service revenue $107,100 Interest expense 12,670 Interest payable 6,950 Analysis shows that adjusting entries had been made, and included above, for (1) $9.230 of services performed but not billed, and (2) $6,950 of accrued but unpaid interest. Prepare the closing entries for the temporary accounts at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent...
Current Attempt in Progress Crane Company's trial balance at December 31 shows Supplies $8,840 and Supplies Expense $0.On December 31, there are $2,060 of supplies on hand. Your answer is partially correct. Prepare the adjusting entry at December 31. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31...
On December 31, 2018 the adjusted trial balance of the Yellin Personnel Agency shows the following selected data: Accounts Receivable, $8,000 Service Revenue, $60,000 Interest Expense, $10,500 Interest Payable, $3,500 Utilities Expense, $4,800 Accounts Payable, $2,700 Analysis indicates that adjusting entries were made for (a) $8,000 of employment commission revenue earned but not billed, (b) $3,500 of accrued but unpaid interest, and (c) $2,700 of utilities expense accrued but not paid. Prepare the closing entries at December 31, 2018. (Credit...
Current Attempt in Progress The lediger of Larkspur, Inc. on March 31, 2017, includes the following selected accounts before adjusting entries. Debit Credit 4,100 Supplies Prepaid Insurance 2.240 25.500 Equipment Unearned Service Revenue 12,300 An analysis of the accounts shows the following 1. Insurance expires at the rate of $280 per month 2 Supplies on hand total $960. 3. The equipment depreciates $170 per month 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the...
View Policies Current Attempt in Progress On December 31, 2020. Teal Inc. has a machine with a book value of $1,090,400. The original cost and related accumulated depreciation at this date are as follows. Machine Less: Accumulated depreciation Book value $1.500.000 417,600 $1,090,400 Depreciation is computed at $49.600 per year on a straight-line basis. Presented below is a set of independent situations. For each independent situation, indicate the journal entry to be made to record the transaction. Make sure that...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Sarasota Corp. is provided below. Credit Debit $69,700 25,250 12,670 204,290 87,460 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $50,880 110,210 21,980 176,450 5,950 3,460 59,330 1,340 Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually....
Exercise 4-19 a-e On December 31, the adjusted trial balance of Culver Employment Agency shows the following selected data. Accounts Receivable Interest Expense $24,900 7,800 Service Revenue Interest Payable $91,500 2,900 Analysis shows that adjusting entries were made to (1) accrue $6,000 of service revenue and (2) accrue $2,900 interest expense. Prepare the closing entries for the temporary accounts shown above at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal...
Current Attempt in Progress At December 31, 2019, Sheffield Corp.reported the following information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $938,000 73,000 During 2020, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible $3,889,250 55,000 2,763,000 91,000 28,000 Prepare the journal entries to record each...
Current Attempt in Progress Boom Company shows the following balances in selected accounts of its adjusted trial balance $26.880 5.040 Supplies Supplies Expense Accounts Receivable Dividends Retained Earnings 10,080 18.480 58.800 Service Revenue 90.720 Salaries and Wages Expense Utilities Expense 33.600 6.720 15.120 Rent Expense Prepare the remaining closing entries at December 31 no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when the amount is entered....
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