Homework Answers
Answer-1- Retained Earnings
| 29,600 | Adj.Ba |
Dividends
| Adj.Bal. | 10,500 |
Service Revenue
| 24,500 | Adj |
Salaries Expenses
| Adj. Bal, | 6,200 |
Rent Expenses
| Adj.Bal. | 3,500 |
Advertising Expenses
| Adj.Bal. | 2,000 |
Income Summary
Answer-2-
Retained Earnings
| 29,600 | Adj.Ba |
Dividends
| Adj.Bal. | 10,500 |
Service Revenue
| 24,500 | Adj | ||
| Clos | 24,500 |
Salaries Expenses
| Adj. Bal, | 6,200 |
Rent Expenses
| Adj.Bal. | 3,500 |
Advertising Expenses
| Adj.Bal. | 2,000 |
Income Summary
| 24,500 | Clos. |
Answer-3-
Income Summary
| Clos | 11,700 | 24,500 | Clos |
| 12,800 | Bal. | ||
| Clos | 12,800 | ||
| - | Bal. |
Retained Earnings
| Clos | 10,500 | 29,600 | Adj.Ba |
| 12,800 | Clos | ||
| 31,900 | Bal. |
Dividends
| Adj.Bal. | 10,500 | 10,500 | Clos |
Service Revenue
| Clos | 24,500 | 24,500 | Adj |
Salaries Expenses
| Adj. Bal, | 6,200 | 6,200 | Clos |
Rent Expenses
| Adj.Bal. | 3,500 | 3,500 | Clos |
Advertising Expenses
| Adj.Bal. | 2,000 | 3,500 | Clos |
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Question Help The following balances appear on the books of Sarah Simmons Enterprises: Retained Earnings 29.600,...
% S4-11 (similar to) A Question Hel The following balances appear on the books of Sarah...
% S4-11 (similar to) A Question Hel The following balances appear on the books of Sarah Simon Enterprises: Retained Earnings, $28,700; Dividends, $7,500; Income Summary, $O; Service Revenue, $22,200, Salaries Expense, $7,500; Rent Expense $3,500; and Advertising Expense, $2,100. All aco have normal balances. Read the requirements. Requirement 2. Post the closing entries to the accounts, denoting posted amounts as Clos. Start by closing revenues. Retained Earnings 28,700 Adj. Bal. Service Revenue 22,200 Adj. Bal. 0 Requirements Dividends 7,500 Salaries...
The adjusted balance ("Adj. Bal.") of each account has been entered for you. Post the closing...
The adjusted balance ("Adj. Bal.") of each account has been
entered for you. Post the closing entries to the T-accounts and
calculate each account's post-closing balance. Use Dec. 31 as a
posting reference for your closing entries, and "Bal." references
to denote post-closing balances. Include a post-closing balance
for each T-account (including those that were not closed). For
any accounts with a zero balance after closing, enter a "0" on
the normal side of the account. For Income Summary, calculate...
Check your knowledge! If you complete all parts with a 95% score, you will unlock access...
Check your knowledge! If you complete all parts with a 95% score, you will unlock access to all activities and can proceed to prove your mastery. You can attempt this as many times as you want. Your work will be saved as you work through each part. Using the information from the Adjusted Trial Balance, journalize the closing entries for the end of the month. Date Accounts and Explanation Debit Credit SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016...
sert Text Table Chart incomestatement Shape Media Comment retained earnings Transactions generaljournal worksheet balancesheet Using the...
sert Text Table Chart incomestatement Shape Media Comment retained earnings Transactions generaljournal worksheet balancesheet Using the general journal worksheet tab prepare the adjusting journal entries based on the following transactions Transactions 1 Incurred $1000 of insurance expense at 12/31 prepaid insurance account was set up in October Account Number 1 103 107 108 112 121 151 2 incurred $4000 of rent expense at 12/31 prepaid rent account was set up in November Chart of Accounts Account Name Accounts Receivable Supplies...
Using the information from the Adjusted Trial Balance, journalize the closing entries for the end of...
Using the information from the Adjusted Trial Balance, journalize the closing entries for the end of the month. Accounts and Explanation Debit Credit SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 service revenue Balance Debit Credit Account Title Todore Revenue 17,800 Accounts Receivable 9,800 Accounts and Explanation Debit Credit Office Supplies 200 Prepaid Rent 11.000 Furniture 20,700 Accumulated Depreciation Furniture 7.100 Accounts Payable 2.300 Salaries Payable 500 Interest Payable 300 Urearned Revenue 5.900 03/31/20 Chapter 5 Warm Up tungraded...
Please help me solve this. i Data Table - X The unadjusted trial balance of Watson...
Please help me solve this.
i Data Table - X The unadjusted trial balance of Watson Anvils at December 31, 2018, and the data for the adjustments follow. (Click the icon to view the unadjusted trial balance.) (Click the icon to v Read the requirements Credit Credit Account Title Cash Debit 15,790 $ Debit 15970 12500 2000 * More Info Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable 12,500 2,210 2,900 26,000 1200 26000...
what are the retained earnings for January 1,2018. The service revenue was $42,500, but thats not...
what are the retained earnings for January 1,2018. The service
revenue was $42,500, but thats not it and i dont know what step im
missing
Net Income (Loss) (6,800) Requirement 2. Prepare the statement of retained earings for the year ending December 31, 20 Neon Advertising Services Statement of Retained Earnings Year Ended December 31, 2018 Retained Earnings, January 1, 2018 Net loss for the year (6.800) (20,100) Dividends Retained Earnings, December 31, 2018 Choose from any list or enter...
Cornerstone Exercise 3-25 (Algorithmic) Preparing a Retained Earnings Statement Sparrow Company had the following adjusted trial...
Cornerstone Exercise 3-25 (Algorithmic) Preparing a Retained Earnings Statement Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit $3,150 5,650 Credit Cash Accounts Receivable Prepaid Insurance 4,480 42,000 Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable $24,000 2,800 4,450 3,875 8,000 2,255 Unearned Service Revenue 10,800 99,900 Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense 49,400 17,250 2,200...
Cornerstone Exercise 3-25 Preparing a Retained Earnings Statement Sparrow Company had the following adjusted trial balance...
Cornerstone Exercise 3-25 Preparing a Retained Earnings Statement Sparrow Company had the following adjusted trial balance at December 31, 2019 Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 Accounts Receiva ble 5,650 Prepaid Insurance 4,480 42,000 Equipment Accumulated Depreciation, $24,000 Equipment Accounts Payable 2,800 Salaries Payable 4,450 Unearned Service Revenue 3,875 Common Stock 8,000 Retained Earnings 2,255 Dividends 10,500 Service Revenue 99,600 Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense 4,950 Income Tax...
Miller Delivery Service completed the following transactions during December 2016: (Click the icon to view the...
Miller Delivery Service completed the following transactions during December 2016: (Click the icon to view the transactions.) Read the requirements Requirement 6. Prepare an adjusted trial balance as of December 31, 2016. (Exclude any zero balance accounts from the adjusted trial balance.) Review the T-accounts you prepared in Requirement 5. Review the preparation of adjusted trial balance portion of the worksheet you prepared in Requirement 4. Miller Delivery Service Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit...
% S4-11 (similar to) A Question Hel The following balances appear on the books of Sarah Simon Enterprises: Retained Earnings, $28,700; Dividends, $7,500; Income Summary, $O; Service Revenue, $22,200, Salaries Expense, $7,500; Rent Expense $3,500; and Advertising Expense, $2,100. All aco have normal balances. Read the requirements. Requirement 2. Post the closing entries to the accounts, denoting posted amounts as Clos. Start by closing revenues. Retained Earnings 28,700 Adj. Bal. Service Revenue 22,200 Adj. Bal. 0 Requirements Dividends 7,500 Salaries...
The adjusted balance ("Adj. Bal.") of each account has been
entered for you. Post the closing entries to the T-accounts and
calculate each account's post-closing balance. Use Dec. 31 as a
posting reference for your closing entries, and "Bal." references
to denote post-closing balances. Include a post-closing balance
for each T-account (including those that were not closed). For
any accounts with a zero balance after closing, enter a "0" on
the normal side of the account. For Income Summary, calculate...
Check your knowledge! If you complete all parts with a 95% score, you will unlock access to all activities and can proceed to prove your mastery. You can attempt this as many times as you want. Your work will be saved as you work through each part. Using the information from the Adjusted Trial Balance, journalize the closing entries for the end of the month. Date Accounts and Explanation Debit Credit SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016...
sert Text Table Chart incomestatement Shape Media Comment retained earnings Transactions generaljournal worksheet balancesheet Using the general journal worksheet tab prepare the adjusting journal entries based on the following transactions Transactions 1 Incurred $1000 of insurance expense at 12/31 prepaid insurance account was set up in October Account Number 1 103 107 108 112 121 151 2 incurred $4000 of rent expense at 12/31 prepaid rent account was set up in November Chart of Accounts Account Name Accounts Receivable Supplies...
Using the information from the Adjusted Trial Balance, journalize the closing entries for the end of the month. Accounts and Explanation Debit Credit SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 service revenue Balance Debit Credit Account Title Todore Revenue 17,800 Accounts Receivable 9,800 Accounts and Explanation Debit Credit Office Supplies 200 Prepaid Rent 11.000 Furniture 20,700 Accumulated Depreciation Furniture 7.100 Accounts Payable 2.300 Salaries Payable 500 Interest Payable 300 Urearned Revenue 5.900 03/31/20 Chapter 5 Warm Up tungraded...
Please help me solve this.
i Data Table - X The unadjusted trial balance of Watson Anvils at December 31, 2018, and the data for the adjustments follow. (Click the icon to view the unadjusted trial balance.) (Click the icon to v Read the requirements Credit Credit Account Title Cash Debit 15,790 $ Debit 15970 12500 2000 * More Info Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable 12,500 2,210 2,900 26,000 1200 26000...
what are the retained earnings for January 1,2018. The service
revenue was $42,500, but thats not it and i dont know what step im
missing
Net Income (Loss) (6,800) Requirement 2. Prepare the statement of retained earings for the year ending December 31, 20 Neon Advertising Services Statement of Retained Earnings Year Ended December 31, 2018 Retained Earnings, January 1, 2018 Net loss for the year (6.800) (20,100) Dividends Retained Earnings, December 31, 2018 Choose from any list or enter...
Cornerstone Exercise 3-25 (Algorithmic) Preparing a Retained Earnings Statement Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit $3,150 5,650 Credit Cash Accounts Receivable Prepaid Insurance 4,480 42,000 Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable $24,000 2,800 4,450 3,875 8,000 2,255 Unearned Service Revenue 10,800 99,900 Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense 49,400 17,250 2,200...
Cornerstone Exercise 3-25 Preparing a Retained Earnings Statement Sparrow Company had the following adjusted trial balance at December 31, 2019 Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 Accounts Receiva ble 5,650 Prepaid Insurance 4,480 42,000 Equipment Accumulated Depreciation, $24,000 Equipment Accounts Payable 2,800 Salaries Payable 4,450 Unearned Service Revenue 3,875 Common Stock 8,000 Retained Earnings 2,255 Dividends 10,500 Service Revenue 99,600 Salaries Expense 49,400 Rent Expense 17,250 Insurance Expense 2,200 Depreciation Expense 4,950 Income Tax...
Miller Delivery Service completed the following transactions during December 2016: (Click the icon to view the transactions.) Read the requirements Requirement 6. Prepare an adjusted trial balance as of December 31, 2016. (Exclude any zero balance accounts from the adjusted trial balance.) Review the T-accounts you prepared in Requirement 5. Review the preparation of adjusted trial balance portion of the worksheet you prepared in Requirement 4. Miller Delivery Service Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit...
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