Homework Answers
To close the dividend account we would transfer the dividend amt to reatined earnings and for that following entry would be passed :-
| SI No | Account Title & explanation | Amt Dr ($) | Amt Cr ($) |
| Retained earning A/c Dr | 2,500 | ||
| To Dividend A/c | 2,500 |
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Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance...
Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance...
Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31. Debit Credit $20,000 $ 2,000 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 40,000 5,000 14,000 5,000 2,000 10,000 4,000 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 2. Calculate the ending...
Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of D...
Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31. Debit Credit $20,000 $ 2,000 40,000 5,000 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 14,000 5,000 2,000 10,000 4,000 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance...
Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31. Debit Credit $20,000 $ 2,000 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 40,000 5,000 14,000 5,000 2,000 10,000 4,000 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) No General Journal Debit...
Seminoles Corporation's fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance...
Seminoles Corporation's fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance as of December 31 Accounts Debit Credit $15,000 Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense $1,500 35,000 4,500 13,500 4,500 1,500 9,500 3,500 Required 1. Prepare the necessary closing entries. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.)
Exercise 3-17A Record closing entries (LO3-6) Seminoles Corporation's fiscal year-end is December 31, 2021. The following...
Exercise 3-17A Record closing entries (LO3-6) Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31. Debit Credit $25,000 $ 2,500 45,000 5,500 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 14,500 5,500 2,500 10,500 4,500 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first...
Seminoles Corporation's fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance...
Seminoles Corporation's fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance as of December 31 Accounts Debit Credit $26,000 Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 2,600 46,000 5,600 14,600 5,600 2,600 10,600 4,600 Required 1. Prepare the necessary closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete Date General...
Seminoles Corporation’s fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance...
Seminoles Corporation’s fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance as of December 31. Accounts Debit Credit Retained Earnings $ 22,000 Dividends $ 2,200 Service Revenue 42,000 Interest Revenue 5,200 Salaries Expense 14,200 Rent Expense 5,200 Advertising Expense 2,200 Depreciation Expense 10,200 Interest Expense 4,200 Required: 1. Prepare the necessary closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Calculate...
CH 1-3) Saved Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial...
CH 1-3) Saved Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjuste Debit Credit $19,000 $ 1,900 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 39,000 4.900 13.900 4.900 1,900 9,900 3,900 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/even Required" in the first account field.) View transaction list Journal entry worksheet Record the entry to close...
Laker Incorporated's fiscal year-end is December 31, 2021. The following is an adjusted trial balance as...
Laker Incorporated's fiscal year-end is December 31, 2021. The following is an adjusted trial balance as of December 31. Credit Debit $ 11,000 34,000 25,000 $ Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals 2,000 20,000 35,000 8,000 3,000 55,000 19,000 12,000 9,000 7,000 $120,000 $120,000 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select...
Laker Incorporated's fiscal year-end is December 31, 2021. The following is an adjusted trial balance as...
Laker Incorporated's fiscal year-end is December 31, 2021. The following is an adjusted trial balance as of December 31. Credit Debit $ 12,000 39,000 30,000 $ Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals 3,000 30,000 40,000 9,000 4,000 54,000 20,000 13,000 10,000 8,000 $136,000 $ 136,000 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event,...
Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31. Debit Credit $20,000 $ 2,000 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 40,000 5,000 14,000 5,000 2,000 10,000 4,000 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 2. Calculate the ending...
Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31. Debit Credit $20,000 $ 2,000 40,000 5,000 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 14,000 5,000 2,000 10,000 4,000 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31. Debit Credit $20,000 $ 2,000 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 40,000 5,000 14,000 5,000 2,000 10,000 4,000 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) No General Journal Debit...
Seminoles Corporation's fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance as of December 31 Accounts Debit Credit $15,000 Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense $1,500 35,000 4,500 13,500 4,500 1,500 9,500 3,500 Required 1. Prepare the necessary closing entries. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.)
Exercise 3-17A Record closing entries (LO3-6) Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31. Debit Credit $25,000 $ 2,500 45,000 5,500 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 14,500 5,500 2,500 10,500 4,500 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first...
Seminoles Corporation's fiscal year-end is December 31, 2018. The following is a partial adjusted trial balance as of December 31 Accounts Debit Credit $26,000 Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 2,600 46,000 5,600 14,600 5,600 2,600 10,600 4,600 Required 1. Prepare the necessary closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete Date General...
CH 1-3) Saved Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjuste Debit Credit $19,000 $ 1,900 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 39,000 4.900 13.900 4.900 1,900 9,900 3,900 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/even Required" in the first account field.) View transaction list Journal entry worksheet Record the entry to close...
Laker Incorporated's fiscal year-end is December 31, 2021. The following is an adjusted trial balance as of December 31. Credit Debit $ 11,000 34,000 25,000 $ Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals 2,000 20,000 35,000 8,000 3,000 55,000 19,000 12,000 9,000 7,000 $120,000 $120,000 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select...
Laker Incorporated's fiscal year-end is December 31, 2021. The following is an adjusted trial balance as of December 31. Credit Debit $ 12,000 39,000 30,000 $ Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals 3,000 30,000 40,000 9,000 4,000 54,000 20,000 13,000 10,000 8,000 $136,000 $ 136,000 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event,...
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