I don't need 4 closing entries. I need a list of current assets,
a list of current liabilities, a working capital, and a current
ratio.
Homework Answers
Current Assets -
1. Cash 3,000
2. Account Receivable 600
3. Prepaid Rent 900
Total Current Asset = 4,500
---
Current Liabilities -
1. Accounts Payable 1,500
2. Salaries Payable 3,000
Total Current Liabilities = 4,500
---
Working Capital = Current Asset - Current Liabilities = 4,500 - 4,500 = 0.
---
Note : Poker Chips ,Table and equipment are Non-Current assets.
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I don't need 4 closing entries. I need a list of current assets,
a list of...
Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3 The following adjusted...
Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3 The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2017, the end of its fiscal year. Credit Debit $18,000 12,000 2,000 23,000 $ 6,500 45, 747 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 T. Cruz, Capital 302 T. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637...
#6,7,8 Comple P4-31A Completing the accounting cycle from adiusting entries to post-closing trial balance with an...
#6,7,8
Comple P4-31A Completing the accounting cycle from adiusting entries to post-closing trial balance with an optional worksheet The unadjusted trial balance of Williamson Anvils at December 31, 2016, and the data for the adjustments follow: WILLIAMSON ANVILS Unadjusted Trial Balance December 31, 2016 Balance Debit Credit $ 16,370 16,500 2.530 1,800 29,000 5 10,000 6,600 Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Williamson, Capital Williamson, Withdrawals Service...
a) Prepare Closing entries b) Post adjusting and closing entries (just need help with owner's capital...
a) Prepare Closing entries
b) Post adjusting and closing entries (just need help
with owner's capital & Income Summary)
c) Prepare a post-closing trial balance
d) Determine whether the subsidiary ledgers agree with
the control accounts in the general ledger
Prepare a trial balance at January 31, 2020, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information. 1. Office supplies at January 31 total $900. 2. Insurance coverage expires on October 31, 2020....
Wusting entries to post-closing Worksheet Walance of Williamson Anvils at December 31, 2016, and the data...
Wusting entries to post-closing Worksheet Walance of Williamson Anvils at December 31, 2016, and the data We adjustments follow: paling the Accou Learning Obj 4,5,6 WILLIAMSON ANVILS Unadjusted Trial Balance December 31, 2016 5. Net Incomes or the summe exp. rev. CK Debit eri Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Williamson, Capital Williamson, Withdrawals Service Revenue Salaries Expense Rent Expense Depreciation Expense Equipment Balance Credit $ 16,370 16.500...
bottom row is total Exercise 3-10 Preparing closing entries and a post-closing trial balance LO P7,...
bottom row is total
Exercise 3-10 Preparing closing entries and a post-closing trial balance LO P7, P8 The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31, Credit Debit $ 18,000 11,800 2,000 23.000 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent...
Preparing closing entries, financial statements, and ratios The adjusted trial balance for Tybalt Construction as of...
Preparing closing entries, financial statements, and ratios The adjusted trial balance for Tybalt Construction as of December 31, 2015. follows. TYLALT CONSTRUCTION Austed Trial Balance December 31, 2015 Account Tide Debit Credit 101 $ 104 5.000 126 Cash Short-term investments .. Supplies .. Prepaid insurance ... Equipment Accumulated depreciation Building Accumulated depreciation 22.000 8.100 7.000 40.000 Equip 167 168 173 174 192 $ 20,000 150.000 Building 50.000 55.000 203 16.500 2.500 2500 2500 210 7500 67.000 5.000 121,400 233 251...
Cornerstone Exercise 3-27 (Algorithmic) Preparing and Analyzing Closing Entries Sparrow Company had the following adjusted trial...
Cornerstone Exercise 3-27 (Algorithmic) Preparing and Analyzing Closing Entries Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, Equipment $24,000 Accounts Payable 2,800 Salaries Payable 4,450 Unearned Service Revenue 3,875 Common Stock 8,000 Retained Earnings 2,255 Dividends 10,500 Service Revenue 100,200 CIVIC REVENCIC TOUCOU Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense...
Problem 4-4A Preparing closing entries, financial statements, and ratios LO C3, A1, P2 The adjusted trial...
Problem 4-4A Preparing closing entries, financial statements, and ratios LO C3, A1, P2 The adjusted trial balance for Tybalt Construction as of December 31, 2017, follows. Credi $ Debit 7,589 22,090 9,280 8,580 45,000 188,888 $ 22,500 60,000 61,550 17,500 2,500 3,600 2,900 700 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2017 No. Account Title 101 Cash 184 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable...
Cornerstone Exercise 3-27 (Algorithmic) Preparing and Analyzing Closing Entries Sparrow Company had the following adjusted trial...
Cornerstone Exercise 3-27 (Algorithmic) Preparing and Analyzing Closing Entries Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 5,650 Accounts Receivable Prepaid Insurance 4,480 42,000 Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock $24,000 2,800 4,450 3,875 8,000 2,255 Retained Earnings Dividends 10,500 99,500 Service Revenue Salaries Expense 49,400 Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense 17,250 2,200...
Problem 4-4A Closing entries LO2, 3, 4 MY Autobody’s adjusted trial balance on December 31, 2020,...
Problem 4-4A Closing entries LO2, 3, 4 MY Autobody’s adjusted trial balance on December 31, 2020, appears in the work sheet as follows: No. Account Debit Credit 101 Cash $ 28,700 124 Shop supplies 2,150 128 Prepaid insurance 4,900 167 Equipment 91,500 168 Accumulated depreciation, equipment $ 8,200 201 Accounts payable 19,700 210 Wages payable 9,560 301 Mike Yang, capital 147,000 302 Mike Yang, withdrawals 39,500 401 Repair revenue 163,930 612 Depreciation expense, equipment 9,200 623 Wages expense 105,200 637...
Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3 The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2017, the end of its fiscal year. Credit Debit $18,000 12,000 2,000 23,000 $ 6,500 45, 747 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 T. Cruz, Capital 302 T. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637...
#6,7,8
Comple P4-31A Completing the accounting cycle from adiusting entries to post-closing trial balance with an optional worksheet The unadjusted trial balance of Williamson Anvils at December 31, 2016, and the data for the adjustments follow: WILLIAMSON ANVILS Unadjusted Trial Balance December 31, 2016 Balance Debit Credit $ 16,370 16,500 2.530 1,800 29,000 5 10,000 6,600 Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Williamson, Capital Williamson, Withdrawals Service...
a) Prepare Closing entries
b) Post adjusting and closing entries (just need help
with owner's capital & Income Summary)
c) Prepare a post-closing trial balance
d) Determine whether the subsidiary ledgers agree with
the control accounts in the general ledger
Prepare a trial balance at January 31, 2020, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information. 1. Office supplies at January 31 total $900. 2. Insurance coverage expires on October 31, 2020....
Wusting entries to post-closing Worksheet Walance of Williamson Anvils at December 31, 2016, and the data We adjustments follow: paling the Accou Learning Obj 4,5,6 WILLIAMSON ANVILS Unadjusted Trial Balance December 31, 2016 5. Net Incomes or the summe exp. rev. CK Debit eri Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Williamson, Capital Williamson, Withdrawals Service Revenue Salaries Expense Rent Expense Depreciation Expense Equipment Balance Credit $ 16,370 16.500...
bottom row is total
Exercise 3-10 Preparing closing entries and a post-closing trial balance LO P7, P8 The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31, Credit Debit $ 18,000 11,800 2,000 23.000 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent...
Preparing closing entries, financial statements, and ratios The adjusted trial balance for Tybalt Construction as of December 31, 2015. follows. TYLALT CONSTRUCTION Austed Trial Balance December 31, 2015 Account Tide Debit Credit 101 $ 104 5.000 126 Cash Short-term investments .. Supplies .. Prepaid insurance ... Equipment Accumulated depreciation Building Accumulated depreciation 22.000 8.100 7.000 40.000 Equip 167 168 173 174 192 $ 20,000 150.000 Building 50.000 55.000 203 16.500 2.500 2500 2500 210 7500 67.000 5.000 121,400 233 251...
Cornerstone Exercise 3-27 (Algorithmic) Preparing and Analyzing Closing Entries Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 Accounts Receivable 5,650 Prepaid Insurance 4,480 Equipment 42,000 Accumulated Depreciation, Equipment $24,000 Accounts Payable 2,800 Salaries Payable 4,450 Unearned Service Revenue 3,875 Common Stock 8,000 Retained Earnings 2,255 Dividends 10,500 Service Revenue 100,200 CIVIC REVENCIC TOUCOU Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense...
Problem 4-4A Preparing closing entries, financial statements, and ratios LO C3, A1, P2 The adjusted trial balance for Tybalt Construction as of December 31, 2017, follows. Credi $ Debit 7,589 22,090 9,280 8,580 45,000 188,888 $ 22,500 60,000 61,550 17,500 2,500 3,600 2,900 700 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2017 No. Account Title 101 Cash 184 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable...
Cornerstone Exercise 3-27 (Algorithmic) Preparing and Analyzing Closing Entries Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 5,650 Accounts Receivable Prepaid Insurance 4,480 42,000 Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock $24,000 2,800 4,450 3,875 8,000 2,255 Retained Earnings Dividends 10,500 99,500 Service Revenue Salaries Expense 49,400 Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense 17,250 2,200...
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