The following income and expense items were on the adjusted trial balance of Barker Company: Fees...
The following income and expense items were on the adjusted
trial balance of Barker Company:
| Fees Earned | $19,091 |
| Rent Expense | 4,300 |
| Wages Expense | 5,378 |
| Miscellaneous Expense | 400 |
Which of the following will be included in the entry to close
revenue and expenses?
a.Credit to Owner's Capital for $4,300
b.Debit to Owner's Capital for $400
c.Credit to Owner's Capital for $9,013
d.Debit to Owner's Capital for $9,013
Homework Answers
| Fees Earned | $19,091 |
| Rent Expense | 4,300 |
| Wages Expense | 5,378 |
| Miscellaneous Expense | 400 |
Net Income: Fee Earned - Rent expense - Wages expense - Misc. expense
Net Income: $19,091 - $ 4,300 - $ 5,378 - $ 400
Net Income: $ 9,013
Hence, the net income of $ 9,013 will be credited to the Owner's Capital A/c, at the end of the year while closing the profit and loss account.
Correct answer is (c.)Credit to Owner's Capital for $9,013
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The following income and expense items were on the adjusted
trial balance of Barker Company:
Fees...
list of accounts Sandhill Company had the following adjusted trial balance. $3,840 Sandhill Company Adjusted Trial...
list of accounts
Sandhill Company had the following adjusted trial balance. $3,840 Sandhill Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash Accounts Receivable 4,070 Supplies 400 Accounts Payable $1,700 Unearned Service Revenue 190 Owner's Capital 3,900 Owner's Drawings Service Revenue 5,920 Salaries and Wages Expense 1,300 Miscellaneous Expense 200 Supplies Expense 1,930 Salaries and Wages Payable 540 $12,250 $12,250 510 Prepare closing entries at June 30, 2020. (Credit account...
prepare a post closing trial balance Question 2 Cullumber Company had the following adjusted trial balance....
prepare a post closing trial balance
Question 2 Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,570 Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 $12,500 O DO 170 N O $ U J.UU ) Prepare...
Question 2 Cullumber Company had the following adjusted trial balance. $3,570 Cullumber Company Adjusted Trial Balance...
Question 2 Cullumber Company had the following adjusted trial balance. $3,570 Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue 170 Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 500 $12,500 $12,500 SOURCES Prepare closing entries at June 30, 2020. (Credit account titles are automatically...
Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance...
Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 Equipment 19,000 19,000 Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 10,000 Wages Payable 2,000 2,000 Common Stock 5,000 5,000 Retained Earnings 6,091 6,091 Dividends 1,000 1,000 Fees Earned 45,233 45,233 Wages Expense 19,173 19,173 Rent Expense 5,949 5,949 Depreciation Expense 5,202 5,202 Totals 74,324 74,324...
1,The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December...
1,The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,884 Accounts Receivable 2,586 Prepaid Expenses 673 Equipment 13,187 Accumulated Depreciation 4,507 Accounts Payable 1,680 Notes Payable 4,505 Common Stock 1,000 Retained Earnings 9,345 Dividends 760 Fees Earned 7,072 Wages Expense 2,404 Rent Expense 872 Utilities Expense 461 Depreciation Expense 170 Miscellaneous Expense 112 Totals 28,109 28,109 Determine the total liabilities for the period. a,$10,692 b,$18,823 c,$6,185 d,$10,345 2, On June 8,...
Exercise 4-07 a-b (Video) Sandhill Company had the following adjusted trial balance. Sandhill Company Adjusted Trial...
Exercise 4-07 a-b (Video) Sandhill Company had the following adjusted trial balance. Sandhill Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,870 Accounts Receivable 3,700 Supplies 590 Accounts Payable $2,000 Unearned Service Revenue 120 Owner's Capital 5,070 Owner's Drawings 460 Service Revenue 5,010 Salaries and Wages Expense 1,400 Miscellaneous Expense 200 Supplies Expense 2,490 Salaries and Wages Payable $12,710 $12,710 510 Prepare closing entries at June 30, 2020. (Credit...
Exercise 4-07 a-b (Video) Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial...
Exercise 4-07 a-b (Video) Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 . Adjusted Trial Balance Debit Account Tities Credit $3,780 3,810 540 Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable $1,800 120 4,200 700 5,670 1,400 280 1,740 460 $12250 $12,250 Prepare closing entries at June 30, 2020....
thank you Kay Magill Company had the following adjusted trial balance. Kay Magill Company Adjusted Trial...
thank you
Kay Magill Company had the following adjusted trial balance. Kay Magill Company Adjusted Trial Balance June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,712 Accounts Receivable 3,904 Supplies 480 Accounts Payable $1,556 Unearned Service Revenue 160 Common Stock 4,000 Retained Earnings 1,760 Dividends 628 Service Revenue 4,300 Salaries and Wages Expense 1,344 Miscellaneous Expense 256 Supplies Expense 1,900 Salaries and Wages Payable 448 $12,224 $12,224 Date Account Titles and Explanation Debit Credit June 30 (To...
Carla Vista Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance...
Carla Vista Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,730 Accounts Receivable 4,080 Supplies 450 Accounts Payable $1,600 Unearned Service Revenue 140 Owner's Capital 5,560 Owner's Drawings 790 Service Revenue 5,510 Salaries and Wages Expense 1,400 Miscellaneous Expense 320 Supplies Expense 2,450 Salaries and Wages Payable 410 $13,220 $13,220
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,095 Accounts Receivable 2,947 Prepaid Expenses 734 Equipment 14,809 Accumulated Depreciation 8,323 Accounts Payable 1,403 Notes Payable 4,681 Common Stock 1,000 Retained Earnings 7,339 Dividends 679 Fees Earned 7,413 Wages Expense 3,322 Rent Expense 845 Utilities Expense 412 Depreciation Expense 207 Miscellaneous Expense 109 Totals 30,159 30,159 Determine the total assets. a.$30,159 b.$16,262 c.$24,585 d.$8,339
list of accounts
Sandhill Company had the following adjusted trial balance. $3,840 Sandhill Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash Accounts Receivable 4,070 Supplies 400 Accounts Payable $1,700 Unearned Service Revenue 190 Owner's Capital 3,900 Owner's Drawings Service Revenue 5,920 Salaries and Wages Expense 1,300 Miscellaneous Expense 200 Supplies Expense 1,930 Salaries and Wages Payable 540 $12,250 $12,250 510 Prepare closing entries at June 30, 2020. (Credit account...
prepare a post closing trial balance
Question 2 Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,570 Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 $12,500 O DO 170 N O $ U J.UU ) Prepare...
Question 2 Cullumber Company had the following adjusted trial balance. $3,570 Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue 170 Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 500 $12,500 $12,500 SOURCES Prepare closing entries at June 30, 2020. (Credit account titles are automatically...
Exercise 4-07 a-b (Video) Sandhill Company had the following adjusted trial balance. Sandhill Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,870 Accounts Receivable 3,700 Supplies 590 Accounts Payable $2,000 Unearned Service Revenue 120 Owner's Capital 5,070 Owner's Drawings 460 Service Revenue 5,010 Salaries and Wages Expense 1,400 Miscellaneous Expense 200 Supplies Expense 2,490 Salaries and Wages Payable $12,710 $12,710 510 Prepare closing entries at June 30, 2020. (Credit...
Exercise 4-07 a-b (Video) Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 . Adjusted Trial Balance Debit Account Tities Credit $3,780 3,810 540 Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable $1,800 120 4,200 700 5,670 1,400 280 1,740 460 $12250 $12,250 Prepare closing entries at June 30, 2020....
thank you
Kay Magill Company had the following adjusted trial balance. Kay Magill Company Adjusted Trial Balance June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,712 Accounts Receivable 3,904 Supplies 480 Accounts Payable $1,556 Unearned Service Revenue 160 Common Stock 4,000 Retained Earnings 1,760 Dividends 628 Service Revenue 4,300 Salaries and Wages Expense 1,344 Miscellaneous Expense 256 Supplies Expense 1,900 Salaries and Wages Payable 448 $12,224 $12,224 Date Account Titles and Explanation Debit Credit June 30 (To...
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