Question:The unadjusted trial balance as of December 31, 2021, for the
Bagley Consulting Company appears below....
Question
The unadjusted trial balance as of December 31, 2021, for the
Bagley Consulting Company appears below....
The unadjusted trial balance as of December 31, 2021, for the
Bagley Consulting Company appears below. December 31 is the
company’s reporting year-end.
Account Title
Debits
Credits
Cash
7,650
Accounts receivable
7,750
Prepaid insurance
3,200
Land
215,000
Buildings
60,000
Accumulated depreciation—buildings
24,000
Office equipment
93,000
Accumulated depreciation—office equipment
37,200
Accounts payable
28,850
Salaries payable
0
Deferred rent revenue
0
Common stock
230,000
Retained earnings
46,950
Service revenue
82,000
Interest revenue
4,200
Rent revenue
5,100
Salaries expense
32,000
Depreciation expense
0
Insurance expense
0
Utilities expense
21,200
Maintenance expense
18,500
Totals
458,300
458,300
Information necessary to prepare the year-end adjusting entries
appears below.
The buildings have an estimated useful life of 50 years with no
salvage value. The company uses the straight-line depreciation
method.
The office equipment is depreciated at 10 percent of original
cost per year.
Prepaid insurance expired during the year, $1,600.
Accrued salaries at year-end, $1,250.
Deferred rent revenue at year-end should be $800.
Required:
1. From the trial balance and information given, prepare
adjusting entries. 2. Post the beginning balances and adjusting
entries into the appropriate T-accounts. 3. Prepare an adjusted trial balance. 4. Prepare closing entries. 5. Prepare a post-closing trial balance.
Problem 2-9 (Algo) Accounting cycle; unadjusted trial balance
through closing [LO2-4, 2-6, 2-8]
The unadjusted trial balance as of December 31, 2021, for the
Bagley Consulting Company appears below. December 31 is the
company’s reporting year-end.
Account Title
Debits
Credits
Cash
15,050
Accounts receivable
6,750
Prepaid insurance
2,700
Land
190,000
Buildings
47,500
Accumulated depreciation—buildings
19,000
Office equipment
81,000
Accumulated depreciation—office equipment
32,400
Accounts payable
27,450
Salaries payable
0
Deferred rent revenue
0
Common stock
200,000
Retained earnings
45,150
Service revenue...
please help me configure the correct amount for salaries
expense. thank you
The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company's reporting year-end. Credits Debits 10,250 6,250 2.500 180,000 42,500 75,000 30.000 26,750 Account Title Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings Office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Deferred rent revenue Common stock Retained earnings Service revenue Interest revenue Rent revenue Salaries expense...
[The following information applies to the questions
displayed below.]Pastina Company sells various types of pasta to grocery chains
as private label brands. The company’s reporting year-end is
December 31. The unadjusted trial balance as of December 31, 2021,
appears below. Account TitleDebitsCreditsCash30,000Accounts receivable40,000Supplies1,500Inventory60,000Notes receivable20,000Interest receivable0Prepaid rent2,000Prepaid insurance6,000Office equipment80,000Accumulated depreciation30,000Accounts payable31,000Salaries payable0Notes payable50,000Interest payable0Deferred sales revenue2,000Common stock60,000Retained earnings28,500Dividends4,000Sales revenue146,000Interest revenue0Cost of goods sold70,000Salaries expense18,900Rent expense11,000Depreciation expense0Interest expense0Supplies expense1,100Insurance expense0Advertising expense3,000Totals347,500347,500 Information necessary to prepare the year-end adjusting entries
appears below.Depreciation on the office...
Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Account TitleDebitsCreditsCash35,800Accounts receivable43,200Supplies3,100Inventory63,200Notes receivable23,200Interest receivable0Prepaid rent2,600Prepaid insurance9,200Office equipment92,800Accumulated depreciation34,800Accounts payable34,200Salaries payable0Notes payable53,200Interest payable0Deferred sales revenue3,600Common stock82,400Retained earnings36,500Dividends7,200Sales revenue162,000Interest revenue0Cost of goods sold86,000Salaries expense20,500Rent expense12,600Depreciation expense0Interest expense0Supplies expense2,700Insurance expense0Advertising expense4,600Totals406,700406,700Information necessary to prepare the year-end adjusting entries appears below.Depreciation on the office equipment for the year is $11,600.Employee salaries are...