Homework Answers
Answer is as follows:
Correct Option: general ledger accounts and balances
A trial balance is a list of all general ledger accounts and balances. The ledger balances are compiled innto debit and credit balances according to the nature of ledger accounts.Preparation of trial balance allows us to find out any mathematical or accounting errors occured in book keeping system before preparing financial statements. If debit and credit amounts are equal then it is considered as balanced. Balanced means there may not be any mathematical errors but there may be a chance of accounting errors eventhough balanced.
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A trial balance is a listing of transactions in a journal. the chart of accounts. general...
Instructions Chart of Accounts Journal T Accounts Unadjusted Trial Balance Final Questions Instructions On October 1,...
Instructions Chart of Accounts Journal T Accounts Unadjusted Trial Balance Final Questions Instructions On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct 1 2 3 4 5 6 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $40,000. Paid rent on office and equipment for the month, $4,800. Purchased supplies on account, $2,150. Paid creditor on account,...
Instructions Chart of Accounts General Journal T Accounts Unadjusted Trial Balance Instructions Wickers Restoration Services had...
Instructions Chart of Accounts General Journal T Accounts Unadjusted Trial Balance Instructions Wickers Restoration Services had the following transactions on May. 1. 2. 3. 4. 5. Received $48,000 from sale of common stock. Paid rent on office for the month, $880. Purchased supplies on account, $1,750, Earned fees, receiving cash, $12,600. Paid creditor on account, $1,000 Paid automobile expenses for month, $375, and miscellaneous expenses, $250. Paid office salaries for the month, $3,900, Earned fees which the customer will pay...
Journal entries and trial balance Instructions Chart of Accounts 1 Journal T Accounts Instructions On January...
Journal entries and trial balance Instructions Chart of Accounts 1 Journal T Accounts Instructions On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month: 1 4 5 6 Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $30,500. Paid rent on office and equipment for the month, $2,650. Purchased supplies on account, $2,200. Paid creditor on account, $900. Earned fees, receiving cash, $14,660. Paid...
Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Question Instructions On November 1, 20Y9,...
Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Question Instructions On November 1, 20Y9, Lexi Martin established an interior decorating business, Heritage Designs. During the month, Lexi completed the following transactions related to the Nov. 1 Lexi transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $50,000 1 Paid rent for period of November 1 to end of month, $4,000. 6 Purchased office equipment on account,...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2-30 are as follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $4,680. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $1,990. Apr. 13. Issued Invoice No. 795 to Shilo Co., $3,450. Post revenue and collections...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2–30 are as follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $6,260. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $2,260. Apr. 13. Issued Invoice No. 795 to Shilo Co., $3,360. Post revenue and collections...
Instructions Chart of Accounts General Journal Instructions Following are the selected transactions for April: (a) Received...
Instructions Chart of Accounts General Journal Instructions Following are the selected transactions for April: (a) Received $18,000 from sale of common stock. (b) Purchased equipment for $27,000, paying $10,000 in cash and giving a note payable for the remainder. (c) Paid $2,300 for rent for April. (d) Purchased $1,500 of supplies on account. (e) Recorded $9,800 of lees earned on account. (1) Received $7,500 in cash for fees earned. (g) Paid $1,200 to creditors on account. (h) Paid wages of...
Journal Entries Chart of Accounts General Journal T-Accounts 7 10 15 Made sales of $2.000 on...
Journal Entries Chart of Accounts General Journal T-Accounts 7 10 15 Made sales of $2.000 on credit the cost of the inventory sold was $1.200. Purchased $1,000 inventory for cash Purchased new office equipment costing $4.000, paying $1.500, and signing a day note for the balance Received check for June 7 credit sal Made cash sales of 54.200; the cost of the inventory sold was $2,300 Purchased $2,600 of Inventory on credit Returned $200 of detective nventory from the June...
please read and complete all transactions in the general journal, income statement, and balance sheet. each...
please read and complete all transactions in the general
journal, income statement, and balance sheet. each account has an
unadjusted, adjusted, and post closing as well.
The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Dobits $ 41,500 25,700 110,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 15.300 30,000 100,000 32,700 $178,000 $178,000 The following is a summary of the transactions for...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and...
Revenue and cash receipts journals; accounts receivable
subsidiary and general ledgers Transactions related to revenue and
cash receipts completed by Crowne Business Services Co. during the
period April 2–30 are as follows: Apr. 2. Issued Invoice No. 793 to
Ohr Co., $6,960. Apr. 5. Received cash from Mendez Co. for the
balance owed on its account. Apr. 6. Issued Invoice No. 794 to
Pinecrest Co., $2,510. Apr. 13. Issued Invoice No. 795 to Shilo
Co., $3,740. Post revenue and collections...
Instructions Chart of Accounts Journal T Accounts Unadjusted Trial Balance Final Questions Instructions On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct 1 2 3 4 5 6 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $40,000. Paid rent on office and equipment for the month, $4,800. Purchased supplies on account, $2,150. Paid creditor on account,...
Instructions Chart of Accounts General Journal T Accounts Unadjusted Trial Balance Instructions Wickers Restoration Services had the following transactions on May. 1. 2. 3. 4. 5. Received $48,000 from sale of common stock. Paid rent on office for the month, $880. Purchased supplies on account, $1,750, Earned fees, receiving cash, $12,600. Paid creditor on account, $1,000 Paid automobile expenses for month, $375, and miscellaneous expenses, $250. Paid office salaries for the month, $3,900, Earned fees which the customer will pay...
Journal entries and trial balance Instructions Chart of Accounts 1 Journal T Accounts Instructions On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month: 1 4 5 6 Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $30,500. Paid rent on office and equipment for the month, $2,650. Purchased supplies on account, $2,200. Paid creditor on account, $900. Earned fees, receiving cash, $14,660. Paid...
Instructions Chart of Accounts Journal Ledger Unadjusted Trial Balance Final Question Instructions On November 1, 20Y9, Lexi Martin established an interior decorating business, Heritage Designs. During the month, Lexi completed the following transactions related to the Nov. 1 Lexi transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $50,000 1 Paid rent for period of November 1 to end of month, $4,000. 6 Purchased office equipment on account,...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2-30 are as follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $4,680. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $1,990. Apr. 13. Issued Invoice No. 795 to Shilo Co., $3,450. Post revenue and collections...
Instructions Chart of Accounts General Journal Instructions Following are the selected transactions for April: (a) Received $18,000 from sale of common stock. (b) Purchased equipment for $27,000, paying $10,000 in cash and giving a note payable for the remainder. (c) Paid $2,300 for rent for April. (d) Purchased $1,500 of supplies on account. (e) Recorded $9,800 of lees earned on account. (1) Received $7,500 in cash for fees earned. (g) Paid $1,200 to creditors on account. (h) Paid wages of...
Journal Entries Chart of Accounts General Journal T-Accounts 7 10 15 Made sales of $2.000 on credit the cost of the inventory sold was $1.200. Purchased $1,000 inventory for cash Purchased new office equipment costing $4.000, paying $1.500, and signing a day note for the balance Received check for June 7 credit sal Made cash sales of 54.200; the cost of the inventory sold was $2,300 Purchased $2,600 of Inventory on credit Returned $200 of detective nventory from the June...
please read and complete all transactions in the general
journal, income statement, and balance sheet. each account has an
unadjusted, adjusted, and post closing as well.
The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Dobits $ 41,500 25,700 110,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 15.300 30,000 100,000 32,700 $178,000 $178,000 The following is a summary of the transactions for...
Revenue and cash receipts journals; accounts receivable
subsidiary and general ledgers Transactions related to revenue and
cash receipts completed by Crowne Business Services Co. during the
period April 2–30 are as follows: Apr. 2. Issued Invoice No. 793 to
Ohr Co., $6,960. Apr. 5. Received cash from Mendez Co. for the
balance owed on its account. Apr. 6. Issued Invoice No. 794 to
Pinecrest Co., $2,510. Apr. 13. Issued Invoice No. 795 to Shilo
Co., $3,740. Post revenue and collections...
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