Homework Answers
Hi there.,
Here is the answer to the question asked
The journal entry for the following items are :
Depreciation expense - Building = $6200
Salaries = $4100
Supplies = $3100
Here in the given question.,they asked about closing entry for such items ., which means charging all the expenses to profit and loss account at the end of the year.
Journal entry Debit($) Credi($)
Profit and loss account 13400
To Depreciation expense - Building 6200
To Salary expenses 4100
To Supplies 3100
Add Answer to:
Question Smith Corporation has $6,200 in Depreciation Expense - Building, $4,100 in Salaries Expense, and $3,100...
Question Help ABC Company has $3,300 in Rent Expense, $2,700 in Salaries Expense, and $500 in...
Question Help ABC Company has $3,300 in Rent Expense, $2,700 in Salaries Expense, and $500 in Supplies Expense at the end of the period. What would be the closing entry?
The following information is available for Sheridan Company Accounts receivable $3,100 Cash $6,370 Accounts payable 4,100...
The following information is available for Sheridan
Company
Accounts receivable
$3,100
Cash
$6,370
Accounts payable
4,100
Supplies
3,790
Interest payable
580
Unearned service revenue
800
Salaries and wages expense
4,100
Service revenue
42,500
Notes payable
33,000
Salaries and wages payable
870
Common stock
58,500
Depreciation expense
710
Inventory
2,900
Equipment (net)
109,200
The following information is available for Sheridan Company Accounts receivable $3,100 Cash $6,370 Accounts payable 4,100 Supplies 3,790 Interest payable 580 Unearned service revenue 800 Salaries and wages...
Below are accounts with account balances (excluding the balance in the Retained earnings account) for Anton...
Below are accounts with account balances (excluding the balance in the Retained earnings account) for Anton Corporation as of December 31, 20XX. The Retained earning account balance at January 1, 20XX was $293,800. Chapter 4 Question 1: (1 point) Required: What is the amount of the total expenses? Omit $ signs. Chapter 4 Question 2: (1 point) Required: In the first closing entry, for what amount would Retained earnings be credited? Omit $ signs. Chapter 4 Question 3: (2 points)...
E4-21 (similar to) Question Help i Data Table The adjusted trial balance of Smith Sign Company...
E4-21 (similar to) Question Help i Data Table The adjusted trial balance of Smith Sign Company follows: E: (Click the icon to view the adjusted trial balance.) Requirements 1. Assume Smith Sign Company has a January 31 year-end. Journalize Smith's closing er 2. How much net income or net loss did Smith Sign Company earn for the year ended Jan Smith Sign Company Adjusted Trial Balance January 31, 2018 Requirement 1. Assume Smith Sign Company has a January 31 year-end....
a. Unrecorded depreciation on equipment is $800. b. The Supplies account has a balance of $3,100....
a. Unrecorded depreciation on equipment is $800. b. The Supplies account has a balance of $3,100. Supplies on hand at the end of the period totaled $1,200. c. On the date for preparing financial statements, an estimated utilities expense of $425 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent for four months was paid and recorded as a $2,800 debit to Prepaid Rent and a $2,800 credit to...
The expense account, Salaries Expense, has an unadjusted balance of $151,000 on Thursday, December 31, 2017. ...
The expense account, Salaries Expense, has an unadjusted balance of $151,000 on Thursday, December 31, 2017. The company operates five days a week with a daily payroll of $4,000. Employees are paid every Saturday for the workweek just completed (Monday through Friday). Determine the correct ending balance in Salaries Payable and Salaries Expense after the correct adjusting entry is made at year end: A. Salaries Payable Salaries Expense $4,000 $155,000 B. Salaries Payable Salaries Expense $4,000 $147,000 C. Salaries Payable Salaries Expense...
and some explanation on why would be amazing thank you:) Current Attempt in Progress Sheffield Corporation...
and some explanation on why would be amazing thank
you:)
Current Attempt in Progress Sheffield Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2021 $ Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Depreciation expense Dividends declared Equipment Fees earned 12,900 28,600 5,500 18,600 20,300 4,500 2.100 23,000 89,700 4.800 Income tax payable Insurance expense Prepaid insurance Rent expense Retained earnings Salaries expense Salaries payable Supplies Supplies...
Salaries payable to workers at the end of the year Advertising expense for the year Building...
Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purchased Supplies at the end of the year Retained earn Utilities expense for the year Note payable to the bank Service revenue earned during the year Salary expense for the year Accounts payable to suppliers Dividends paid to shareholder during the year Common stock that has been issued including $8,000 that was issued this26,000 year, this is the ending balance Cash...
Credits Debits $ 4,100 9, 100 3,100 28,000 Part 6 of 8 Accounts Cash Accounts Receivable...
Credits Debits $ 4,100 9, 100 3,100 28,000 Part 6 of 8 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,400 4,400 5,400 0 19,000 9.100 $44,300 points $44,300 eBook The following is a summary of the transactions for the year References 1. January 24 Provide plumbing services for cash, 516,000, and on account, $61,000. 2. March 13 Collect on accounts receivable, $49,000. 3. May 6 Issue shares...
Advertising expense $ 28,750 Depreciation expense—Office equipment 8,250 Depreciation expense—Selling equipment 10,300 Depreciation expense—Factory equipment 39,550...
Advertising expense $ 28,750 Depreciation expense—Office equipment 8,250 Depreciation expense—Selling equipment 10,300 Depreciation expense—Factory equipment 39,550 Factory supervision 105,060 Factory supplies used 8,100 Factory utilities 39,300 Direct labor 696,000 Indirect labor 69,800 Miscellaneous production costs 10,225 Office salaries expense 72,900 Raw materials purchases* 937,500 Rent expense—Office space 23,000 Rent expense—Selling space 26,700 Rent expense—Factory building 81,200 Maintenance expense—Factory equipment 44,100 Sales 4,712,500 Sales salaries expense 406,160 *Assume that the raw materials inventory account is used only for direct materials. Indirect...
Question Help ABC Company has $3,300 in Rent Expense, $2,700 in Salaries Expense, and $500 in Supplies Expense at the end of the period. What would be the closing entry?
The following information is available for Sheridan
Company
Accounts receivable
$3,100
Cash
$6,370
Accounts payable
4,100
Supplies
3,790
Interest payable
580
Unearned service revenue
800
Salaries and wages expense
4,100
Service revenue
42,500
Notes payable
33,000
Salaries and wages payable
870
Common stock
58,500
Depreciation expense
710
Inventory
2,900
Equipment (net)
109,200
The following information is available for Sheridan Company Accounts receivable $3,100 Cash $6,370 Accounts payable 4,100 Supplies 3,790 Interest payable 580 Unearned service revenue 800 Salaries and wages...
E4-21 (similar to) Question Help i Data Table The adjusted trial balance of Smith Sign Company follows: E: (Click the icon to view the adjusted trial balance.) Requirements 1. Assume Smith Sign Company has a January 31 year-end. Journalize Smith's closing er 2. How much net income or net loss did Smith Sign Company earn for the year ended Jan Smith Sign Company Adjusted Trial Balance January 31, 2018 Requirement 1. Assume Smith Sign Company has a January 31 year-end....
a. Unrecorded depreciation on equipment is $800. b. The Supplies account has a balance of $3,100. Supplies on hand at the end of the period totaled $1,200. c. On the date for preparing financial statements, an estimated utilities expense of $425 has been incurred, but no utility bill has been received. d. On the first day of the current month, rent for four months was paid and recorded as a $2,800 debit to Prepaid Rent and a $2,800 credit to...
and some explanation on why would be amazing thank
you:)
Current Attempt in Progress Sheffield Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2021 $ Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common shares Depreciation expense Dividends declared Equipment Fees earned 12,900 28,600 5,500 18,600 20,300 4,500 2.100 23,000 89,700 4.800 Income tax payable Insurance expense Prepaid insurance Rent expense Retained earnings Salaries expense Salaries payable Supplies Supplies...
Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purchased Supplies at the end of the year Retained earn Utilities expense for the year Note payable to the bank Service revenue earned during the year Salary expense for the year Accounts payable to suppliers Dividends paid to shareholder during the year Common stock that has been issued including $8,000 that was issued this26,000 year, this is the ending balance Cash...
Credits Debits $ 4,100 9, 100 3,100 28,000 Part 6 of 8 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,400 4,400 5,400 0 19,000 9.100 $44,300 points $44,300 eBook The following is a summary of the transactions for the year References 1. January 24 Provide plumbing services for cash, 516,000, and on account, $61,000. 2. March 13 Collect on accounts receivable, $49,000. 3. May 6 Issue shares...
Most questions answered within 3 hours.
-
convert grams into vloume with the density of water being at
.997514 g/cm^3 at 23.1 Celsuis...
asked 2 hours ago -
Foreman company obtained a $20,000, 6% loan on May 1, 2018.
Principal and interest will be...
asked 2 hours ago -
5. Problem 11.05 (Discounted Payback)
eBook
Project L costs $60,000, its expected cash inflows are $14,000
per...
asked 2 hours ago -
1. Which of the following is true about politics and health
organizations?
A. Health organizations are...
asked 2 hours ago -
A space vehicle is coasting at a constant velocity of 18.1 m/s
in the +y direction...
asked 3 hours ago -
5) Use the following balanced equation to answer questions
(a)-(i).
3 Cu(s) + 8 HNO3(aq) →...
asked 3 hours ago -
A three-year maturity bond with a 12% annual coupon rate is
currently traded at par $1000...
asked 3 hours ago -
1.
What is the minimum volume to use in the Spec 20 cuvette in order
to...
asked 4 hours ago -
A builder wants to install wall-to-wall carpeting in a living
room of length 8.87 m and...
asked 4 hours ago -
Organizational change can produce anxiety in those affected by
the change. In what ways can change...
asked 4 hours ago -
Ozone in the atmosphere may react with nitric oxide.
From the following data, calculate the DG...
asked 4 hours ago -
Steven Long, a bond analyst, is analyzing a convertible bond.
The characteristics of the bond are...
asked 4 hours ago