Homework Answers
CLOSING ENTRY
Income Summary a/c ...Dr. $6,500
To Rent Expense a/c $3,300
To Salaries Expense a/c $2,700
To Supplies Expense a/c $500
[ To close the expense accounts ]
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Question Help ABC Company has $3,300 in Rent Expense, $2,700 in Salaries Expense, and $500 in...
Question Smith Corporation has $6,200 in Depreciation Expense - Building, $4,100 in Salaries Expense, and $3,100...
Question Smith Corporation has $6,200 in Depreciation Expense - Building, $4,100 in Salaries Expense, and $3,100 in Supplies Expense at the end of the period. What would be the closing entry?
please help me configure the correct amount for salaries expense. thank you The unadjusted trial balance...
please help me configure the correct amount for salaries
expense. thank you
The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company's reporting year-end. Credits Debits 10,250 6,250 2.500 180,000 42,500 75,000 30.000 26,750 Account Title Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings Office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Deferred rent revenue Common stock Retained earnings Service revenue Interest revenue Rent revenue Salaries expense...
Data Table Cash 3,900 26,000 7,200 3,300 1.700 2,700 1,900 Common Stock Retained Earnings, January 1...
Data Table Cash 3,900 26,000 7,200 3,300 1.700 2,700 1,900 Common Stock Retained Earnings, January 1 Dividends Service Revenue Depreciation Expense-Equipment Salaries Expense Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Notes Payable (long-term) 2,300 34,500 100 spense Utilities Expense / / Print Dono / ------------- - - S cuolers. ASSUMIU all aus Ildu lundi Udidos (Click the icon to view the account balances.) 14. Prepare the closing entries for Boxford at December 31. 15. What is...
U we Trial Balance 12.50 21.000 Salaries Eye Rent Expense Interest Expense 23 and The ting...
U we Trial Balance 12.50 21.000 Salaries Eye Rent Expense Interest Expense 23 and The ting entry would include: on December 31, 2011 there were of applies credit to Supplies Expense of $180 debit to Supplies of 5720 credit te Supplies of S770 debit to Supplies Expense of 5180. None of the above stimated shape value of $3,000. The Company uses straight The Equipment was purchased on September 1, 2010. has a weale of eight year and line depreciation. The...
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...
i got the number for salaries expense wrong. as shown in picture. what is the right...
i got the number for salaries expense wrong. as shown in
picture. what is the right answer?
The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company's reporting year-end. Debits 10,250 6,250 2,500 180.000 42.500 17.000 75,000 30,000 26.750 Account Title Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Deferred rent revenue Common stock Retained earnings Service revenue Interest...
a. Salaries Payable. At year-end, salaries expense of $20.500 has been incurred by the company, but...
a. Salaries Payable. At year-end, salaries expense of $20.500 has been incurred by the company, but is not yet paid to employees. b. Interest Payable. At its December 31 year-end, the company owes $500 of interest on a line of credit loan. That interest will not be paid until sometime in January of the next year. c. Interest Payable. At its December 31 year end, the company holds a mortgage payable that has incurred $1,125 in annual interest that is...
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....
need help finding rent, utilities, salaries and wages, income tax expenses Val's Hair Emporium operates a...
need help finding rent, utilities, salaries and wages, income
tax expenses
Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows, along with information about selected accounts. Account Names Cash Supplies Prepaid Rent Debit $ 2,800 3,380 3,000 Accounts Payable Credit Further Information As reported on December 31 bank statement. Based on count, only $8ee of supplies still exdst. This amount was paid November 1 for rent through the end of January $...
.36 Seved Help Save & Exit Submit Balais Payable At year-end salaries expense of $20.500 has...
.36 Seved Help Save & Exit Submit Balais Payable At year-end salaries expense of $20.500 has been incurred by the company but is not yet par Salar 20,5 Step 1: Determine what the current account balance equals. Debitor Credit? 20,500 Debit or Credit? 20.500 Credit $ Step 2: Determine what the current account balance should equal. I $ Credit Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Adjusting Entry Salaries expense ſ...
Question Smith Corporation has $6,200 in Depreciation Expense - Building, $4,100 in Salaries Expense, and $3,100 in Supplies Expense at the end of the period. What would be the closing entry?
please help me configure the correct amount for salaries
expense. thank you
The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company's reporting year-end. Credits Debits 10,250 6,250 2.500 180,000 42,500 75,000 30.000 26,750 Account Title Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings Office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Deferred rent revenue Common stock Retained earnings Service revenue Interest revenue Rent revenue Salaries expense...
Data Table Cash 3,900 26,000 7,200 3,300 1.700 2,700 1,900 Common Stock Retained Earnings, January 1 Dividends Service Revenue Depreciation Expense-Equipment Salaries Expense Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Notes Payable (long-term) 2,300 34,500 100 spense Utilities Expense / / Print Dono / ------------- - - S cuolers. ASSUMIU all aus Ildu lundi Udidos (Click the icon to view the account balances.) 14. Prepare the closing entries for Boxford at December 31. 15. What is...
U we Trial Balance 12.50 21.000 Salaries Eye Rent Expense Interest Expense 23 and The ting entry would include: on December 31, 2011 there were of applies credit to Supplies Expense of $180 debit to Supplies of 5720 credit te Supplies of S770 debit to Supplies Expense of 5180. None of the above stimated shape value of $3,000. The Company uses straight The Equipment was purchased on September 1, 2010. has a weale of eight year and line depreciation. The...
i got the number for salaries expense wrong. as shown in
picture. what is the right answer?
The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company's reporting year-end. Debits 10,250 6,250 2,500 180.000 42.500 17.000 75,000 30,000 26.750 Account Title Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Deferred rent revenue Common stock Retained earnings Service revenue Interest...
a. Salaries Payable. At year-end, salaries expense of $20.500 has been incurred by the company, but is not yet paid to employees. b. Interest Payable. At its December 31 year-end, the company owes $500 of interest on a line of credit loan. That interest will not be paid until sometime in January of the next year. c. Interest Payable. At its December 31 year end, the company holds a mortgage payable that has incurred $1,125 in annual interest that is...
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....
need help finding rent, utilities, salaries and wages, income
tax expenses
Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows, along with information about selected accounts. Account Names Cash Supplies Prepaid Rent Debit $ 2,800 3,380 3,000 Accounts Payable Credit Further Information As reported on December 31 bank statement. Based on count, only $8ee of supplies still exdst. This amount was paid November 1 for rent through the end of January $...
.36 Seved Help Save & Exit Submit Balais Payable At year-end salaries expense of $20.500 has been incurred by the company but is not yet par Salar 20,5 Step 1: Determine what the current account balance equals. Debitor Credit? 20,500 Debit or Credit? 20.500 Credit $ Step 2: Determine what the current account balance should equal. I $ Credit Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Adjusting Entry Salaries expense ſ...
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