Question

A AddThal D Palang Tralalance C D Chuda Du Aile Cash Supplies 2 12.00 120.000 10 A Ducati A Payable Thamed DS Retail Dividende CR 2. SI Den Res 10.000 1.00 Income Sunnan Total Record Acting litres Pad Rent should have a chance of 1000 her amel 54,900 Revenue that needs to be recorded Depois de esto le 15.000 d. Supplies pd be 51.00 Record Cloning Fatrica for based on the Adjusted Trial Balance Create the low lines and post in the above worksheet Qur Acay purchased Soomes. O November instumed 200 wahof merchandise Oemberi paid the balance in full, taking a 2 Theme the cash paid on November quals A 5200,00 $1.564.00 $1.568.00 D $1.600.00 E S1.800.00 On June 1, Able Company old machine in the $6,000 to Maya's, with credit terms of 210...30. The cost of the essed $5,000. Alle wes the popular Thermal tries that Able will make Prepare Multi Sup Income Same Je haylie Meyer pay for hermedie The sever happenal. Mere 20. jam try! Fido Company and alot of 200000 sons of 5.000, and les retara od 4.00 Fido Comandala A) 55.00 Set of Reding D) E) $195.000 5190-200.00 5195.000 Questi The Doppie company has 10 eple who com 52.000 in sales cach working day. They are paid cache Malay for the weathefire-day workweek ending on the previous Friday. Assume that December 31, 2018 isa Tuesday and all 10 employees walked the first two days of that weke. Because New Year's Day isa padellay they will be paid salaries for five full days on Monday. Remary 6, 2019 Balance Shot

Answer 1

			Trial balance	Item	Adjustments	Adjusted trial balance	Closing balance	Post closing trial balance
Account title			Debit	Credit		Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash			20000					20000				20000
Supplies			5000		d		3000	2000				2000
Prepaid rent			12000		a		2000	10000				10000
Equipment			200000					200000				200000
Accumulated depreciation				120000	c		5000		125000				125000
Accounts payable				8000					8000				8000
Unearned revenue				10000	b	4000			6000				6000
Common stock				20000					20000				20000
Retained earnings				25000					25000	5000	53000		73000
Dividends			5000					5000			5000	0
Consulting revenue				80000	b		4000		84000	84000			0
Supplies expense			2000		d	3000		5000			5000	0
Depreciation expense			10000		c	5000		15000			15000	0
Rent expense			1000		a	2000		3000			3000	0
Insurance expense			8000					8000			8000	0
Income summary										84000	84000	0
Totals			263000	263000		14000	14000	268000	268000	173000	173000	232000	232000

Adjusting entries:
Ref.	Decsription					Debit	Credit
a.	Rent expense		(12000-10000)			2000
	Prepaid rent						2000
	(Rent expired)
b.	Unearned revenue					4000
	Consulting revenue						4000
	(Revenue earned)
c.	Depreciation expense			(15000-10000)		5000
	Accumulated depreciation						5000
	(Depreciation recorded)
d.	Supplies expense					3000
	Supplies						3000
	(Supplies used)

Closing entries:
Decsription				Debit	Credit
Consulting revenue				84000
Income summary					84000
(To close revenue accounts)
Income summary				31000
Supplies expense					5000
Depreciation expense					15000
Rent expense					3000
Insurance expense					8000
(To close expense accounts)

53000 53000 Income summary (84000-31000) Retained earnings (To close income summary) Retained earnings Dividends (To close dividend) 5000 5000 $ 84000 Multi step income statement: $ Revenues: Consulting revenue Less:Expenses Supplies expense Depreciation expense Rent expense Insurance expense Net income 5000 15000 3000 8000 31000 53000 Statement of retained earnings: $ Beginning balance 25000 Add:Net income 53000 78000 Less:Dividends 5000

Ending balance 73000 Balance sheet: $ $ 20000 2000 10000 32000 200000 125000 75000 107000 Assets Current assets: Cash Supplies Prepaid rent Total current assets Long-term assets: Equipment Less:Accumulated depreciation Total assets Liabilities and stockholder's equity Current liabilities Accounts payable Unearned revenue Total current liabilities Stockholder's equity: Common stock Retained earnings Total stockholder's equity Total liabilities and stockholder's equity 8000 6000 14000 20000 73000 93000 107000

C 1800 200 Question 1: Amount of cash paid: $ Sale price Less:Returns Net sales Less:Discount at 2% Cash paid Answer is C. $ 1568 1600 32 1568) Debit Credit 6000 6000 Question 2: Able company:- Date Account titles June 1. Accounts receivable Sales (Merchandise sold on account) Cost of goods sold Inventory (Cost of goods sold recorded) June 9. Cash (Plug) Sales discount (6000*2%) Accounts receivable (Cash received from customers with discount) 5000 5000 5880 120 6000

120 6000 Sales discount (6000*2%) Accounts receivable (Cash received from customers with discount) June 20. Cash Accounts receivable (Cash received from customers without discount) 6000 60001 Fido company - Net sales: $ 200000 5000 Sales Less: Sales discount Sales returns Net sales Answer is D. $ 190200 4800 9800 190200