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This Test: 100 Given the following account balances before closing entries,...
Question Help Given the following account balances before closing entries, what would be the balance for...
Question Help Given the following account balances before closing entries, what would be the balance for Retained Earnings on the Post - Closing Trial Balance (assuming the beginning Retained Earnings balance is zero)? Dividends 22.000 Service Revenue 308,000 O A $163,800 OB. $122,200 OC. $200,000 Click to select your answer
Return to question Exercise 3-18B Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7)...
Return to question Exercise 3-18B Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) A company's fiscal year-end is December 31, Year 1. The following is an adjusted trial balance as of December 31. Credit Debit $ 10,300 30,500 21,500 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals $ 1,300 13,000 31,500 7,300 2,300 55,700 18,300 11,300 8,300 6,300 $100,800 $...
Post-closing a Balance An accountant prepared the following post-dosing trial balancel Security Services Co. Post-Closing Trial...
Post-closing a Balance An accountant prepared the following post-dosing trial balancel Security Services Co. Post-Closing Trial Balance July 31, 2010 Debit Balances Balances Cash IN 188 Accounts Receivabl Supplies Equipment Accumulated Depreciation-Equip Accounts Payable Salaries Payable Unearned Rent Common Stock Retained Earnings 83 7.56 7,560 124,090 ,500 274,850 170,350 Dream corected post-closing trial balance. Assume that at all accounts have normal balances and that ected post-closing trial balance. Ass Security Services Co. Post-Closing Trial Balance July 31, 2040 Debit Balance...
Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial...
Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial Balance July 31, 20Y0 Debit Balances Credit Balances Cash 10,400 Accounts Receivable 23,090 Supplies 1,460 Equipment 102,860 Accumulated Depreciation—Equipment 34,320 Accounts Payable 12,480 Salaries Payable 1,140 Unearned Rent 4,680 Common Stock 13,500 Retained Earnings 71,690 170,160 105,460 Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct. If an amount box does not require...
Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial...
Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial Balance July 31, 2018 Debit Balances 18,000 39,960 Credit Balances Cash Accounts Receivable Supplies 2,520 178,020 Equipment Accumulated Depreciation - Equipment 59,400 21,600 Accounts Payable Salaries Payable 1,980 Unearned Rent 8,100 Common Stock 13,500 Retained Earnings 133,920 294,480 182,520 Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct. If an amount box does...
Exercise 3-10 Preparing closing entries and a post-closing trial balance LO P7, P8 The following adjusted...
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 $19,000 13,000 3,000 24,000 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 expense 652 Supplies expense...
GLS Complete worksheet, prepare financial statements, closing entries, and post-closing trial balance (L01 2.4 The adjusted...
GLS Complete worksheet, prepare financial statements, closing entries, and post-closing trial balance (L01 2.4 The adjusted trial balance columns of the worksheet for Alshwer Company are as follows. Dr. Account No. 101 112 126 130 157 ALSHWER COMPANY Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Cr. Cash 5.300 Accounts Receivable 10.800 Supplies 1,500 Prepaid Insurance 2.000 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 15,000 Accounts Payable 6.100 Salaries and Wages Payable 2,400 Interest...
1. journalize the closing entries 2. prepare a post-closing trial balance Problem 3-04 The trial balance...
1. journalize the closing entries
2. prepare a post-closing trial balance
Problem 3-04 The trial balance of Kingbird Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit KINGBIRD FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $33,600 Accounts Receivable 37,300 Inventory 48,600 Supplies 9,100 Equipment 140,200 Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and...
Exercise 3-10 Preparing closing entries and a post-closing trial balance LO P7, P8 The following adjusted...
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. No. Account Title Debit Credit 101 Cash $18,000 126 Supplies 9,800 128 Prepaid insurance 2,000 167 Equipment 23,000 168 Accumulated depreciation-Equipment $ 6,500 307 Common stock 9,790 318 Retained earnings 35,600 319 Dividends 6,000 404 Services revenue 32,400 612 Depreciation expense-Equipment 2,000 622 salaries expense 18,889 637 Insurance expense...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Marigold...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Marigold Corp. is provided below. Credit Debit $55,180 19,990 10,030 161,730 69,240 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 $40,280 87,250 17,400 139,690 4,710 2,740 46,970 1,060 Determine the post-closing balance in Retained Earnings. (Post entries in the order of journal entries presented in the...
Question Help Given the following account balances before closing entries, what would be the balance for Retained Earnings on the Post - Closing Trial Balance (assuming the beginning Retained Earnings balance is zero)? Dividends 22.000 Service Revenue 308,000 O A $163,800 OB. $122,200 OC. $200,000 Click to select your answer
Return to question Exercise 3-18B Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) A company's fiscal year-end is December 31, Year 1. The following is an adjusted trial balance as of December 31. Credit Debit $ 10,300 30,500 21,500 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals $ 1,300 13,000 31,500 7,300 2,300 55,700 18,300 11,300 8,300 6,300 $100,800 $...
Post-closing a Balance An accountant prepared the following post-dosing trial balancel Security Services Co. Post-Closing Trial Balance July 31, 2010 Debit Balances Balances Cash IN 188 Accounts Receivabl Supplies Equipment Accumulated Depreciation-Equip Accounts Payable Salaries Payable Unearned Rent Common Stock Retained Earnings 83 7.56 7,560 124,090 ,500 274,850 170,350 Dream corected post-closing trial balance. Assume that at all accounts have normal balances and that ected post-closing trial balance. Ass Security Services Co. Post-Closing Trial Balance July 31, 2040 Debit Balance...
Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial Balance July 31, 2018 Debit Balances 18,000 39,960 Credit Balances Cash Accounts Receivable Supplies 2,520 178,020 Equipment Accumulated Depreciation - Equipment 59,400 21,600 Accounts Payable Salaries Payable 1,980 Unearned Rent 8,100 Common Stock 13,500 Retained Earnings 133,920 294,480 182,520 Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct. If an amount box does...
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 $19,000 13,000 3,000 24,000 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 expense 652 Supplies expense...
GLS Complete worksheet, prepare financial statements, closing entries, and post-closing trial balance (L01 2.4 The adjusted trial balance columns of the worksheet for Alshwer Company are as follows. Dr. Account No. 101 112 126 130 157 ALSHWER COMPANY Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Cr. Cash 5.300 Accounts Receivable 10.800 Supplies 1,500 Prepaid Insurance 2.000 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 15,000 Accounts Payable 6.100 Salaries and Wages Payable 2,400 Interest...
1. journalize the closing entries
2. prepare a post-closing trial balance
Problem 3-04 The trial balance of Kingbird Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit KINGBIRD FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $33,600 Accounts Receivable 37,300 Inventory 48,600 Supplies 9,100 Equipment 140,200 Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and...
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. No. Account Title Debit Credit 101 Cash $18,000 126 Supplies 9,800 128 Prepaid insurance 2,000 167 Equipment 23,000 168 Accumulated depreciation-Equipment $ 6,500 307 Common stock 9,790 318 Retained earnings 35,600 319 Dividends 6,000 404 Services revenue 32,400 612 Depreciation expense-Equipment 2,000 622 salaries expense 18,889 637 Insurance expense...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Marigold Corp. is provided below. Credit Debit $55,180 19,990 10,030 161,730 69,240 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 $40,280 87,250 17,400 139,690 4,710 2,740 46,970 1,060 Determine the post-closing balance in Retained Earnings. (Post entries in the order of journal entries presented in the...
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