Homework Answers
Supplies balance before adjusted trial balance = 140
Supplies ending balance at year end = 20
Supplies used = 140 - 20 = 120
When supplies are used, supplies expense are debited and supplies assets are reduced (hence credited)
Correct choice D
Add Answer to:
Question 9 0.5 pts The year-end trial balance for Garnet & Gold Corporation appears as follows:...
The year-end trial balance for Garnet & Gold Corporation appears as follows: Garnet & Gold Corporation...
The year-end trial balance for Garnet & Gold Corporation appears as follows: Garnet & Gold Corporation Trial Balance December 31 Debit Credit Cash $ 300 Accounts Receivable 500 Prepaid Insurance 60 Supplies 140 Equipment 4,000 Accumulated Depreciation, Equipment $ 800 Unearned Revenues 300 Common Stock 1,000 Retained Earnings 1,400 Service Revenue 3,000 Salaries and Wages Expense 1,000 Rent Expense 500 $ 6,500 $ 6,500 If, at year-end, the unexpired insurance were $40, the company should record an adjusting entry that...
Question 43 2 pts The trial balance for Black Corporation appears as follows: BLACK CORPORATION Trial...
Question 43 2 pts The trial balance for Black Corporation appears as follows: BLACK CORPORATION Trial Balance December 31, 2025 Cash $300 522 82 180 4,000 $600 384 Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries & Wages Expense Rent Expense Totals 1.200 1.400 3,000 1.000 500 $6,584 $6,584 If, on December 31, 2025, supplies on hand were $40, the adjusting entry would contain a credit to Supplies Expense...
Based on the following adjusted trial balance: Garnet & Gold Corporation Adjusted Trial Balance As of...
Based on the following adjusted trial balance: Garnet & Gold Corporation Adjusted Trial Balance As of December 31 Debit Credit Cash $ 800 Accounts Receivable 200 Inventory 3,000 Building 30,000 Accumulated Depreciation $ 2,000 Notes Payable 1,000 Common Stock 21,000 Retained Earnings 6,000 Dividends 2,000 Revenues 8,000 Selling and Administrative Expense 1,000 Insurance Expense 1,000 $ 38,000 $ 38,000 Determine the amount that will be reported as retained earnings on the post-closing trial balance. O $2.000 0 $14.000 O $10,000...
The trial balance for McGoo Company appears as follows: McGoo Company Trial Balance December 31, 2020...
The trial balance for McGoo Company appears as follows: McGoo Company Trial Balance December 31, 2020 Cash $ 300 Accounts Receivable 522 Prepaid Insurance 82 Supplies 180 Equipment 4,000 Accumulated Depreciation - Equipment $ 600 Accounts Payable 384 Common Stock 1,200 Retained Earnings 1,400 Service Revenue 3,000 Salaries and Wages Expense 1,000 Rent Expense 500 $6,584 $6,584 If, on December 31, 2020 supplies on hand were $50, the adjusting entry would contain a Group of answer choices A)debit to Supplies...
The trial balance for Tater Tot Corp appears as follows: Tater Tot Corp Trial Balance December...
The trial balance for Tater Tot Corp appears as follows: Tater Tot Corp Trial Balance December 31, 2020 Cash $ 300 Accounts Receivable 522 Prepaid Insurance 82 Supplies 180 Equipment 4,000 Accumulated Depreciation - Equipment $ 600 Accounts Payable 384 Common Stock 1,200 Retained Earnings 1,400 Service Revenue 3,000 Salaries and Wages Expense 1,000 Rent Expense 500 $6,584 $6,584 If as of December 31, 2022, rent of $150 for December had not been recorded or paid, the adjusting entry would...
The trial balance for Swifty Corporation appears as follows: $280 491 77 169 Swifty Corporation Trial...
The trial balance for Swifty Corporation appears as follows: $280 491 77 169 Swifty Corporation Trial Balance December 31, 2022 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense 3760 $560 361 1130 1320 2816 940 470 $6187 $6187 If service for $165 had been performed but not billed, the adjusting entry to record this would include a:
The trial balance for Sunland Company appears as follows: $300 522 82 Sunland Company Trial Balance...
The trial balance for Sunland Company appears as follows: $300 522 82 Sunland Company Trial Balance December 31, 2022 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense 180 4000 $600 384 1200 1400 3000 1000 500 $6584 $6584 If as of December 31, 2022, rent of $150 for December had not been recorded or paid, the adjusting entry would include a:
The trial balance for Blue Spruce Corp. appears as follows: Blue Spruce Corp. Trial Balance December...
The trial balance for Blue Spruce Corp. appears as follows: Blue Spruce Corp. Trial Balance December 31, 2022 $260 459 72 158 3520 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense $530 338 1060 1230 2631 880 440 $5789 $5789 If service for $154 had been performed but not billed, the adjusting entry to record this would include a: O debit to Service Revenue...
The unadjusted trial balance as of December 31, 2018, for the Bagley Consulting Company appears below....
The unadjusted trial balance as of December 31, 2018, for the Bagley Consulting Company appears below. December 31 is the company's fiscal year-end Account Title Debits Credits Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings Office equipment Accumulated depreciation-office equipment Accounts payable Salaries and wages payable Deferred rent revenue Common stock Retained earnings Sales revenue Interest revenue Rent revenue Salaries and wages expense Depreciation expense Insurance expense Utility expense Maintenance expense Totals 2,750 6,500 2,600 185,000 45,000 18,000 78,000...
Unadjusted Trial Balance
Unadjusted Trial Balance - December 31, 2012DebitsCreditsCash$11,500Accounts Receivable3,500Supplies1,200Prepaid Rent24,000Equipment14,000Accumulated Depreciation$1,400Accounts Payable1,900Unearned Service Revenue2,800Common Stock10,300Retained Earnings7,500Dividends4,500Service Revenue91,350Salaries Expense55,000Advertising Expense900Utilities Expense650$115,250$115,250Additional Information:The equipment was purchased on January 1, 2011. The useful life is estimated to be 10 years.As of December 31, 2012, the company had accrued salaries of $950.Of the balance in the unearned revenue account, $500 had not been earned by year -end.On December 1, 2012, the company paid $900 for four months of advertising.A count of supplies on December 31,...
Question 43 2 pts The trial balance for Black Corporation appears as follows: BLACK CORPORATION Trial Balance December 31, 2025 Cash $300 522 82 180 4,000 $600 384 Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries & Wages Expense Rent Expense Totals 1.200 1.400 3,000 1.000 500 $6,584 $6,584 If, on December 31, 2025, supplies on hand were $40, the adjusting entry would contain a credit to Supplies Expense...
Based on the following adjusted trial balance: Garnet & Gold Corporation Adjusted Trial Balance As of December 31 Debit Credit Cash $ 800 Accounts Receivable 200 Inventory 3,000 Building 30,000 Accumulated Depreciation $ 2,000 Notes Payable 1,000 Common Stock 21,000 Retained Earnings 6,000 Dividends 2,000 Revenues 8,000 Selling and Administrative Expense 1,000 Insurance Expense 1,000 $ 38,000 $ 38,000 Determine the amount that will be reported as retained earnings on the post-closing trial balance. O $2.000 0 $14.000 O $10,000...
The trial balance for Swifty Corporation appears as follows: $280 491 77 169 Swifty Corporation Trial Balance December 31, 2022 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense 3760 $560 361 1130 1320 2816 940 470 $6187 $6187 If service for $165 had been performed but not billed, the adjusting entry to record this would include a:
The trial balance for Sunland Company appears as follows: $300 522 82 Sunland Company Trial Balance December 31, 2022 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense 180 4000 $600 384 1200 1400 3000 1000 500 $6584 $6584 If as of December 31, 2022, rent of $150 for December had not been recorded or paid, the adjusting entry would include a:
The trial balance for Blue Spruce Corp. appears as follows: Blue Spruce Corp. Trial Balance December 31, 2022 $260 459 72 158 3520 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense $530 338 1060 1230 2631 880 440 $5789 $5789 If service for $154 had been performed but not billed, the adjusting entry to record this would include a: O debit to Service Revenue...
The unadjusted trial balance as of December 31, 2018, for the Bagley Consulting Company appears below. December 31 is the company's fiscal year-end Account Title Debits Credits Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings Office equipment Accumulated depreciation-office equipment Accounts payable Salaries and wages payable Deferred rent revenue Common stock Retained earnings Sales revenue Interest revenue Rent revenue Salaries and wages expense Depreciation expense Insurance expense Utility expense Maintenance expense Totals 2,750 6,500 2,600 185,000 45,000 18,000 78,000...
Most questions answered within 3 hours.
-
Other decisions about scientific claims can have a much broader
impact.ENERGYarrow-10x10.png, environment, health, security - all...
asked 24 minutes ago -
I need to write a research paper and work cited about this
topic: The United States...
asked 46 minutes ago -
Hello! I was wondering if I could have some help?
If the vapor pressure of carvone...
asked 1 hour ago -
An economist wants to estimate the mean per capita income (in
thousands of dollars) for a...
asked 1 hour ago -
What would be the input/output characteristic of a circuit
obtained by putting two of your 2's-complementers...
asked 1 hour ago -
In Drosophila, the transition from the syncytial blastoderm
stage to the cellular blastoderm stage is a...
asked 1 hour ago -
Project management question:
Name 3 different types of resources (hint: humans are one
type)
asked 2 hours ago -
Consider the following reaction: C 2H 2( g) + 2H 2( g) C 2H 6(
g)...
asked 2 hours ago -
Consider a 1.0 L buffer containing 0.092 mol L-1 HCOOH and 0.100
mol L-1 HCOO-. What...
asked 2 hours ago -
Koch Realty has owned a vacant land with a FMV of
$775,000 and an adjusted basis...
asked 2 hours ago -
It is estimated 29% of all adults in United States invest in
stocks and that 85%...
asked 2 hours ago -
What does a 2-sided p value of 0.04 mean? (I am not asking if it
is...
asked 2 hours ago