Homework Answers
- Requirement 1
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List Errors |
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1 |
Accounts receivables have increased by $5000, but laundry Revenue was not adjusted by this amount. |
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2 |
Laundry Supplies expense is $ 3000, and the same has been added to Unadjusted Laundry Supplies balance instead of being deducted. |
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3 |
Insurance expense is $600, and same has to be deducted from Prepaid Insurance unadjusted balance, but $3600 has been deducted instead. |
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4 |
Laundry Equipment have been decreased by Depreciation expense of $ 13000 instead of Accumulated Depreciation |
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5 |
Wages Payable have been adjusted by $1000 but the same has not been added to debit of Wages Expenses |
- Requirement 2
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[Correct] Adjusted Trial balance |
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Accounts title |
Debit Balances |
Credit Balances |
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Cash . |
$ 7,500.00 |
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Accounts Receivable . |
$ 23,250.00 |
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Laundry Supplies |
$ 750.00 [3,750 – 3,000] |
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Prepaid Insurance |
$ 4,600.00 [[5,200 – 600] |
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Laundry Equipment |
$ 1,90,000.00 [177,000 + 13,000] |
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Accumulated Depreciation—Laundry |
$ 61,000.00 [48,000 + 13,000] |
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Accounts Payable |
$ 9,600.00 |
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Wages Payable |
$ 1,000.00 |
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Capital Stock . . |
$ 35,000.00 |
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Retained Earnings |
$ 75,300.00 |
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Dividends |
$ 28,775.00 |
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Laundry Revenue |
$ 1,87,100.00 [182,100 + 5000] |
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Wages Expense |
$ 50,200.00 [49,200 + 1,000] |
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Rent Expense . . |
$ 25,575.00 |
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Utilities Expense . |
$ 18,500.00 |
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Depreciation Expense |
$ 13,000.00 |
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Laundry Supplies Expense |
$ 3,000.00 |
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Insurance Expense |
$ 600.00 |
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Miscellaneous Expense . |
$ 3,250.00 |
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TOTAL |
$ 3,69,000.00 |
$ 3,69,000.00 |
Add Answer to:
Eva's Laundry Adjusted trial balance May 31, 20Y9
Calculator Adjusting Entries from Trial Balances The accountant...
Adjusting Entries from Trial Balances The accountant for Eva's Laundry prepared the following unadjusted and adjusted...
Adjusting Entries from Trial Balances The accountant for Eva's Laundry prepared the following unadjusted and adjusted trial balances. Assume that all balances in the unadjusted trial balance and the amounts of the adjustments are correct. Eva's Laundry Trial Balances May 31, 2019 Unadjusted Adjusted Debit Credit Credit Balances Debit Balances Balances Balances Cash 7,500 7,500 Accounts Receivable 18,250 23,250 Laundry Supplies 3,750 6,750 Prepaid Insurance* 5,200 1,600 Laundry Equipment 190,000 177,000 Accumulated Depreciation-Laundry Equipment 48,000 48,000 Accounts Payable 9,600 9,600...
Eva's Laundry Trial Balance May 31, 2019 Unadjusted Adjusted Debit Credit Balances Credit Balances Debit Balances...
Eva's Laundry Trial Balance May 31, 2019 Unadjusted Adjusted Debit Credit Balances Credit Balances Debit Balances Balances Cash 8.860 8,860 Accounts Receivable Laundry Supplies 21,500 4,300 25,800 6,320 6,120 1,650 209.400 216,490 Prepaid Insurance Laundry Equipment Accumulated Depreciation-Laundry Equipment Accounts Payable Wages Payable Eva Baldwin, Capital 56,700 11.340 56,700 11,340 1,420 130,300 Eva Baldwin, Drawing 130,300 33,900 Laundry Revenue 33.900 206,840 206,840 58,110 58.110 30,230 30,230 21.090 Wages Expense Rent Expense Uitles Expense Depreciation Expense Laundry Supplies Expense Insurance Expense...
Please Answer boxes Trial Daianice May 31, 20Y3 Unadjusted Debit Credit Balances Balances Adjusted Debit Credit...
Please Answer boxes
Trial Daianice May 31, 20Y3 Unadjusted Debit Credit Balances Balances Adjusted Debit Credit Balances Balances Cash 8,280 8,280 20,100 24,120 4,020 5,910 5,720 1,540 205,430 212,060 53,000 Accounts Receivable Laundry Supplies Prepaid Insurance* Laundry Equipment Accumulated Depreciation-Laundry Equipment Accounts Payable Wages Payable Eva Baldwin, Capital Eva Baldwin, Drawing Laundry Revenue Wages Expense 53,000 10,600 10,600 1,330 121,800 121,800 31,700 31,700 203,050 203,050 54,320 54,320 Rent Expense 28,260 28,260 20,460 20,460 6,630 Utilities Expense Depreciation Expense Laundry Supplies...
Trial Balance May 31, 2019 Unadjusted Debit Credit Balances Adjusted Debit Credit Balances Balances Balances Cash...
Trial Balance May 31, 2019 Unadjusted Debit Credit Balances Adjusted Debit Credit Balances Balances Balances Cash 8,850 21,500 8,860 25,800 6,320 6.120 1,650 216,490 209,400 56,700 56,700 11.340 11,340 Accounts Receivable Laundry Supplies Prepaid brance Laundry Equipment Accumulated Depreciation Laundry Equipment Accounts Payable Wapes Payable Eva Baldwin, Capital Baldwin, Drawing Laundry Revenue Wages Expense Rent Expense Use Expense 1,420 130,300 130,300 33.900 33,900 200, 140 206,840 58.110 58.110 30,230 30,230 21.890 21.00 7,050 2,010 Depreciation Expense Laundry Supplies tense Insurance...
Adjusting Entries from Trial Balances The unadjusted and adjusted trial balances for American Leaf Company on...
Adjusting Entries from Trial Balances The unadjusted and adjusted trial balances for American Leaf Company on October 31, 2019, follow: American Leaf Company Trial Balance October 31, 2019 Unadjusted Adjusted Debit Balances Credit Balances Debit Balances Credit Balances Cash 241 241 Accounts Receivable 574 637 Supplies 181 136 Prepaid Insurance 289 173 Land 395 395 Equipment 608 608 Accumulated Depreciation- Equipment 122 199 Accounts Payable 393 393 Wages Payable 17 Les Huff, Capital 1,386 1,386 Les Huff, Drawing 125 125...
The unadjusted trial balance of Epicenter Laundry is included on end-of-year spreadsheet for the fiscal year...
The unadjusted trial balance of Epicenter Laundry is included on end-of-year spreadsheet for the fiscal year that ended June 30,2019 The data needed to determine year end adjustments are as follows: a. Laundry supplies on hand at June 30, 2019 $3,600. b. Insurance premiums expired at June 30, 2019 $5,700. c. Depreciation of laundry equipment during the year $6,500. d. Wages accrued but not paid ay June 30 $ 1,100. Instructions: 1. Complete the end-of-year spreadsheet for Epicenter Laundry. 2....
Adjusting Entries from Trial Balances The unadjusted and adjusted trial balances for American Leaf Company on...
Adjusting Entries from Trial Balances The unadjusted and adjusted trial balances for American Leaf Company on October 31, 2019, follow: American Leaf Company Trial Balance October 31, 2019 Unadjusted Adjusted Debit Balances Credit Balances Debit Balances Credit Balances Cash 284 284 676 750 Accounts Receivable Supplies Prepaid Insurance 213 160 344 206 457 Land Equipment 457 704 704 141 230 463 463 Accumulated Depreciation- Equipment Accounts Payable Wages Payable Les Huff, Capital Les Huff, Drawing Fees Earned 0 20 1,633...
T Accounts, Adjusting Entries, Financial Statements, and Closing Entries; optional end-of-period spreadsheet The unadjusted trial balance...
T Accounts, Adjusting Entries, Financial Statements, and Closing Entries; optional end-of-period spreadsheet The unadjusted trial balance of La Mesa Laundry at August 31, 20Y5, the end of the fiscal year, follows: La Mesa Laundry Unadjusted Trial Balance August 31, 20Y5 Debit Balances Credit Balances Cash 3,800 Laundry Supplies 9,000 Prepaid Insurance 6,000 Laundry Equipment 180,800 Accumulated Depreciation 49,200 Accounts Payable 7,800 Common Stock 15,000 Retained Earnings 80,000 Dividends 2,400 Laundry Revenue 248,000 Wages Expense 135,800 Rent Expense 43,200 Utilities Expense...
T Accounts, Adjusting Entries, Financial Statements, and Closing Entries; optional end-of-period spreadsheet The unadjusted trial balance...
T Accounts, Adjusting Entries, Financial Statements, and Closing Entries; optional end-of-period spreadsheet The unadjusted trial balance of La Mesa Laundry at August 31, 20Y5, the end of the fiscal year, follows: La Mesa Laundry Unadjusted Trial Balance August 31, 20Y5 Debit Balances Credit Balances Cash 3,800 Laundry Supplies 9,000 Prepaid Insurance 6,000 Laundry Equipment 180,800 Accumulated Depreciation 49,200 Accounts Payable 7,800 Common Stock 15,000 Retained Earnings 80,000 Dividends 2,400 Laundry Revenue 248,000 Wages Expense 135,800 Rent Expense 43,200 Utilities Expense...
Ajusung Entries Trom na balances The unadjusted and adjusted trial balances for American Leaf Company on...
Ajusung Entries Trom na balances The unadjusted and adjusted trial balances for American Leaf Company on October 31, 2042, follow: American Leaf Company Trial Balances October 31, 2012 Unadjusted Debit Credit Balances Balances Adjusted Debit Credit Balances Balances Cash 16 16 Accounts Receivable Supplies Prepaid Insurance Land Equipment Accumulated Depreciation Equipment Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Dividends Fees Earned 80 Wages Expense Rent Expense Insurance Expense Utilities Expense Depreciation Expense Supplies Expense Miscellaneous Expense 200 200...
Adjusting Entries from Trial Balances The accountant for Eva's Laundry prepared the following unadjusted and adjusted trial balances. Assume that all balances in the unadjusted trial balance and the amounts of the adjustments are correct. Eva's Laundry Trial Balances May 31, 2019 Unadjusted Adjusted Debit Credit Credit Balances Debit Balances Balances Balances Cash 7,500 7,500 Accounts Receivable 18,250 23,250 Laundry Supplies 3,750 6,750 Prepaid Insurance* 5,200 1,600 Laundry Equipment 190,000 177,000 Accumulated Depreciation-Laundry Equipment 48,000 48,000 Accounts Payable 9,600 9,600...
Eva's Laundry Trial Balance May 31, 2019 Unadjusted Adjusted Debit Credit Balances Credit Balances Debit Balances Balances Cash 8.860 8,860 Accounts Receivable Laundry Supplies 21,500 4,300 25,800 6,320 6,120 1,650 209.400 216,490 Prepaid Insurance Laundry Equipment Accumulated Depreciation-Laundry Equipment Accounts Payable Wages Payable Eva Baldwin, Capital 56,700 11.340 56,700 11,340 1,420 130,300 Eva Baldwin, Drawing 130,300 33,900 Laundry Revenue 33.900 206,840 206,840 58,110 58.110 30,230 30,230 21.090 Wages Expense Rent Expense Uitles Expense Depreciation Expense Laundry Supplies Expense Insurance Expense...
Please Answer boxes
Trial Daianice May 31, 20Y3 Unadjusted Debit Credit Balances Balances Adjusted Debit Credit Balances Balances Cash 8,280 8,280 20,100 24,120 4,020 5,910 5,720 1,540 205,430 212,060 53,000 Accounts Receivable Laundry Supplies Prepaid Insurance* Laundry Equipment Accumulated Depreciation-Laundry Equipment Accounts Payable Wages Payable Eva Baldwin, Capital Eva Baldwin, Drawing Laundry Revenue Wages Expense 53,000 10,600 10,600 1,330 121,800 121,800 31,700 31,700 203,050 203,050 54,320 54,320 Rent Expense 28,260 28,260 20,460 20,460 6,630 Utilities Expense Depreciation Expense Laundry Supplies...
Trial Balance May 31, 2019 Unadjusted Debit Credit Balances Adjusted Debit Credit Balances Balances Balances Cash 8,850 21,500 8,860 25,800 6,320 6.120 1,650 216,490 209,400 56,700 56,700 11.340 11,340 Accounts Receivable Laundry Supplies Prepaid brance Laundry Equipment Accumulated Depreciation Laundry Equipment Accounts Payable Wapes Payable Eva Baldwin, Capital Baldwin, Drawing Laundry Revenue Wages Expense Rent Expense Use Expense 1,420 130,300 130,300 33.900 33,900 200, 140 206,840 58.110 58.110 30,230 30,230 21.890 21.00 7,050 2,010 Depreciation Expense Laundry Supplies tense Insurance...
Adjusting Entries from Trial Balances The unadjusted and adjusted trial balances for American Leaf Company on October 31, 2019, follow: American Leaf Company Trial Balance October 31, 2019 Unadjusted Adjusted Debit Balances Credit Balances Debit Balances Credit Balances Cash 241 241 Accounts Receivable 574 637 Supplies 181 136 Prepaid Insurance 289 173 Land 395 395 Equipment 608 608 Accumulated Depreciation- Equipment 122 199 Accounts Payable 393 393 Wages Payable 17 Les Huff, Capital 1,386 1,386 Les Huff, Drawing 125 125...
The unadjusted trial balance of Epicenter Laundry is included on end-of-year spreadsheet for the fiscal year that ended June 30,2019 The data needed to determine year end adjustments are as follows: a. Laundry supplies on hand at June 30, 2019 $3,600. b. Insurance premiums expired at June 30, 2019 $5,700. c. Depreciation of laundry equipment during the year $6,500. d. Wages accrued but not paid ay June 30 $ 1,100. Instructions: 1. Complete the end-of-year spreadsheet for Epicenter Laundry. 2....
Adjusting Entries from Trial Balances The unadjusted and adjusted trial balances for American Leaf Company on October 31, 2019, follow: American Leaf Company Trial Balance October 31, 2019 Unadjusted Adjusted Debit Balances Credit Balances Debit Balances Credit Balances Cash 284 284 676 750 Accounts Receivable Supplies Prepaid Insurance 213 160 344 206 457 Land Equipment 457 704 704 141 230 463 463 Accumulated Depreciation- Equipment Accounts Payable Wages Payable Les Huff, Capital Les Huff, Drawing Fees Earned 0 20 1,633...
Ajusung Entries Trom na balances The unadjusted and adjusted trial balances for American Leaf Company on October 31, 2042, follow: American Leaf Company Trial Balances October 31, 2012 Unadjusted Debit Credit Balances Balances Adjusted Debit Credit Balances Balances Cash 16 16 Accounts Receivable Supplies Prepaid Insurance Land Equipment Accumulated Depreciation Equipment Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Dividends Fees Earned 80 Wages Expense Rent Expense Insurance Expense Utilities Expense Depreciation Expense Supplies Expense Miscellaneous Expense 200 200...
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