1. Closing Entries -
2. Post Closing Trial Balance -
3. Balance Sheet -
The alphabetical listing below includes all of the adjusted account balances of Battle Creek, Inc. as...
The alphabetical listing below includes all of the adjusted account balances of Battle Creek, Inc. as of December 31, 2018. All account balances are normal. Accounts Payable Accounts Receivable Accumulated Depreciation Common Stock Cash Depreciation Expense Dividends Equipment Income Tax Expense Income Taxes Payable Rent Expense Retained Earnings Salaries and Wages Expense Service Revenue Deferred Revenue $ 3, 2ee 9.389 3,280 3,880 3. see 1.800 1.489 1,880 1.800 1.888 1.780 3. lee 5,600 18.789 2.18 Required: a. Prepare the closing...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $18,000 13,300 2,000 23,000 $ 6,500 45,480 Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 A. Cruz, Capital 302 A. Cruz, withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 44,800 2.000 26,118 1.882 3.002 1.478 $96,780 $96.780 1. Prepare the...
The following account balances were taken from the 2021 post-closing trial balance of the Bowler Corporation: cash, $5,000; accounts receivable, $10,000; inventory, $16,000; equipment, $100,000; accumulated depreciation, $40,000; accounts payable, $20,000; salaries payable, $12,000; retained earnings $9,000; and common stock, $50,000 Prepare a 12/31/2021 balance sheet. (Amounts to be deducted should be indicated by a minus sign.) BOWLER CORPORATION Balance Sheet At December 31, 2021 Assets $ $ 0 Liabilities and Shareholders' Equity d 0 ces 0 0 Saved Chapter...
The year end adjusted trial balance of Aggies Corporation included the following account balances: Retained Earnings. $220,000; Service Revenue, $850,000; Salaries Expense. $380,000; Rent Expense, $140,000: Interest Expense, $75,000; and Dividends. $50,000. Record the necessary closing entries. (If no entry is required for a transaction/event, select "No Journal y Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the entry to close revenue accounts. Note: Enter debits before credits. General Journal Debit Credit...
American Chip Corporation’s fiscal year-end is December 31. The following is a partial adjusted trial balance as of December 31, 2018. Account Title Debits Credits Retained earnings 84,000 Sales revenue 790,000 Interest revenue 5,000 Cost of goods sold 440,000 Salaries expense 140,000 Rent expense 19,000 Depreciation expense 34,000 Interest expense 5,400 Insurance expense 6,400 Required: Prepare the necessary closing entries at December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first...
On December 31, 2019, the ledger of Lopez Company contained the following account balances Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Maria Lopez, Capital $32,999 Maria Lopez, Drawing 2,850 Fees Income 2,050 Depreciation Expense 25,900 Salaries Expense 2,450 Supplies Expense 2,950 Telephone Expense 48,150 Utilities Expense $13,400 53,250 2,700 16,999 2,950 2,550 4,600 Prepare the closing entries for the above transactions, View transaction list Journal entry worksheet < 1 2 3 Prepare the closing entry for the drawing...
The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. Accounts Payable $ 39,300 Accounts Receivable 66,700 Accumulated Depreciation 21,700 Cash 80,500 Common Stock 95,000 Equipment 90,900 Income Tax Expense 10,520 Notes Payable (long-term) 1,520 Office Expenses 6,320 Rent Expense 164,400 Retained Earnings 99,880 Salaries and Wages Expense 128,900 Sales Revenue 326,240 Supplies 35,400 Prepare the closing entry required at September...
The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented belovw. Accounts Debit Credit $11700 147,000 Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable $132,000 10,700 37,000 Interest Payable Notes Payable (due in two years Common Stock Retained Earnings Service Revenue Salaries Expense 270,000 470,000 18,500 37000 4,700 Interest Expense Totals $993,100 $993,100 10. Required informatio 10.00 points Required: 1. Record the necessary closing entries at December 31, 2018. (If no entry is required...
December 31,2021, adjusted tria balance for Fighting blue hens corporation is presented below ! Required information [The following information applies to the questions displayed below.) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,500 135,000 4,500 22,500 250,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense...
hackle Locksmiths, Inc. Adjusted Trial Balance At December 31, 2018 Account Debit Credit Cash $1,720,400 Accounts Receivable 792,000 Supplies 210,000 Prepaid Insurance 200,000 Equipment 420,000 Accumulated Depreciation—Equipment $33,000 Accounts Payable 1,280,000 Unearned Service Revenue 39,200 Wages Payable 250,000 Interest Payable 85,000 Notes Payable 260,000 Common Stock 1,300,000 Retained Earnings 0 Dividends 10,000 Service Revenue 2,093,300 Wage Expense 1,120,000 Utilities Expense 88,900 Selling Expense 64,200 Administrative Expense 189,000 Repairs Expense 66,000 Interest Expense 55,000 Insurance Expense 135,000 Supplies Expense 210,000 Depreciation...