Homework Answers
Closing entries
| Date | General Journal | Debit | Credit |
| Dec 31 | Service revenue | 139690 | |
| Rent revenue | 4710 | ||
| Income summary | 144400 | ||
| (To close revenue account) | |||
| Dec 31 | Income summary | 83070 | |
| Rent expense | 2740 | ||
| Supplies expense | 1060 | ||
| Salaries and wages expense | 69240 | ||
| Depreciation expense | 10030 | ||
| (To close expense accounts) | |||
| Dec 31 | Income summary | 61330 | |
| Retained earnings | 61330 | ||
| (To close net income to retained earnings) | |||
| Dec 31 | Retained earnings | 19990 | |
| Dividends | 19990 | ||
| (To close dividend) | |||
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Exercise 4-21 (Part Level Submission) Selected year-end account balances from the adjusted trial balance as of...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Marigold...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Marigold Corp. is provided below. Credit Debit $55,180 19,990 10,030 161,730 69,240 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $40,280 87,250 17,400 139,690 4,710 2,740 46,970 1,060 Determine the post-closing balance in Retained Earnings. (Post entries in the order of journal entries presented in the...
Exercise 4-20 (Part Level Submission) Selected year-end account balances from the adjusted trial balance as of...
Exercise 4-20 (Part Level Submission) Selected year-end account balances from the adjusted trial balance as of December 31, 2017, for Tippy Corporation is provided below. Credit Accounts Receivable Dividends Debit $72,600 26,300 13,200 212,800 91,100 Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation Equipment Unearned Rent Revenue $53,000 114,800 22,900 183,800 6,200 Service Revenue Rent Revenue 3,600 Rent Expense Retained Earnings Supplies Expense 61,800 1,400 (a) Prepare closing entries. (Credit account titles are automatically indented when the...
Exercise 4-20 Selected year-end account balances from the adjusted trial balance as of December 31, 2017,...
Exercise 4-20 Selected year-end account balances from the adjusted trial balance as of December 31, 2017, for Marigold Corp. is provided below. Credit Debit $87,120 31,560 15,840 255,360 109,320 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $63,600 137,760 27,480 220,560 7,440 4,320 74,160 1,680 Your answer is partially correct. Try again. Prepare closing entries. (Credit account titles are automatically...
s Kimmel, Financial Accounting, 9e Exercise 4-21 (Part Level Submission) Selected year-end account balances from the...
s Kimmel, Financial Accounting, 9e Exercise 4-21 (Part Level Submission) Selected year-end account balances from the adjusted trial balance as of December 31, 2022 Credit Debit $88,570 32,090 16,100 259,620 111,140 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $64,660 140,060 27,940 224,240 7,560 4,390 75,400 1,710 Your answer is partially correct. Try again. Prepare closing entries. (Credit account titles are...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Whispering...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Whispering Winds Corp. is provided below. Debit Credit Accounts Receivable Dividends $58,080 21,040 10,560 170,240 72,880 Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue $42,400 91,840 18,320 147,040 4,960 Rent Revenue 2,880 Rent Expense Retained Earnings Supplies Expense 49,440 1,120 Date Account Titles and Explanation Debit Credit Dec. 31 Service Revenue 147,040 Rent Revenue 4,960 Income Summary...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Culver...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Culver Corporation is provided below. Debit Credit Accounts Receivable $79,860 Dividends 28,930 Depreciation Expense 14,520 Equipment 234,080 Salaries and Wages Expense 100,210 Accounts Payable $58,300 Accumulated Depreciation-Equipment 126,280 Unearned Rent Revenue 25,190 Service Revenue 202,180 Rent Revenue 6,820 Rent Expense 3,960 Retained Earnings 67,980 Supplies Expense 1,540 (a) Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Sarasota...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Sarasota Corp. is provided below. Credit Debit $69,700 25,250 12,670 204,290 87,460 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $50,880 110,210 21,980 176,450 5,950 3,460 59,330 1,340 Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually....
View Policies Current Attempt in Progress Selected year-end account balances from the adjusted trial balance as...
View Policies Current Attempt in Progress Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Flint Corporation is provided below. Debit Credit Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation Equipment Unearned Rent Revenue Service Revenue $90,020 32,610 16,370 263,870 112,960 $65,720 142,350 28,400 227,910 7,690 Rent Revenue 4,460 Rent Expense Retained Earnings Supplies Expense 76,630 1,740 Date Account Titles and Explanation Debit Credit Dec. 31 (To close...
Exercise 4-20 (Part Level Submission) Selected year-end account balances from the adjusted trial balance as of...
Exercise 4-20 (Part Level Submission)
Selected year-end account balances from the adjusted trial balance
as of December 31, 2017, for Blue Spruce Corp. is provided
below.
Debit
Credit
Accounts Receivable
$62,440
Dividends
22,620
Depreciation Expense
11,350
Equipment
183,010
Salaries and Wages Expense
78,350
Accounts Payable
$45,580
Accumulated Depreciation—Equipment
98,730
Unearned Rent Revenue
19,690
Service Revenue
158,070
Rent Revenue
5,330
Rent Expense
3,100
Retained Earnings
53,150
Supplies Expense
1,200
(a)
Prepare closing entries.
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Grouper...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Grouper Corp. is provided below. Debit Credit Accounts Receivable $82,760 Dividends 29,980 Depreciation Expense 15,050 Equipment 242,590 Salaries and Wages Expense 103,850 Accounts Payable $60,420 Accumulated Depreciation—Equipment 130,870 Unearned Rent Revenue 26,110 Service Revenue 209,530 Rent Revenue 7,070 Rent Expense 4,100 Retained Earnings 70,450 Supplies Expense 1,600 (a) Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Marigold Corp. is provided below. Credit Debit $55,180 19,990 10,030 161,730 69,240 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $40,280 87,250 17,400 139,690 4,710 2,740 46,970 1,060 Determine the post-closing balance in Retained Earnings. (Post entries in the order of journal entries presented in the...
Exercise 4-20 (Part Level Submission) Selected year-end account balances from the adjusted trial balance as of December 31, 2017, for Tippy Corporation is provided below. Credit Accounts Receivable Dividends Debit $72,600 26,300 13,200 212,800 91,100 Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation Equipment Unearned Rent Revenue $53,000 114,800 22,900 183,800 6,200 Service Revenue Rent Revenue 3,600 Rent Expense Retained Earnings Supplies Expense 61,800 1,400 (a) Prepare closing entries. (Credit account titles are automatically indented when the...
Exercise 4-20 Selected year-end account balances from the adjusted trial balance as of December 31, 2017, for Marigold Corp. is provided below. Credit Debit $87,120 31,560 15,840 255,360 109,320 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $63,600 137,760 27,480 220,560 7,440 4,320 74,160 1,680 Your answer is partially correct. Try again. Prepare closing entries. (Credit account titles are automatically...
s Kimmel, Financial Accounting, 9e Exercise 4-21 (Part Level Submission) Selected year-end account balances from the adjusted trial balance as of December 31, 2022 Credit Debit $88,570 32,090 16,100 259,620 111,140 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $64,660 140,060 27,940 224,240 7,560 4,390 75,400 1,710 Your answer is partially correct. Try again. Prepare closing entries. (Credit account titles are...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Whispering Winds Corp. is provided below. Debit Credit Accounts Receivable Dividends $58,080 21,040 10,560 170,240 72,880 Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue $42,400 91,840 18,320 147,040 4,960 Rent Revenue 2,880 Rent Expense Retained Earnings Supplies Expense 49,440 1,120 Date Account Titles and Explanation Debit Credit Dec. 31 Service Revenue 147,040 Rent Revenue 4,960 Income Summary...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Culver Corporation is provided below. Debit Credit Accounts Receivable $79,860 Dividends 28,930 Depreciation Expense 14,520 Equipment 234,080 Salaries and Wages Expense 100,210 Accounts Payable $58,300 Accumulated Depreciation-Equipment 126,280 Unearned Rent Revenue 25,190 Service Revenue 202,180 Rent Revenue 6,820 Rent Expense 3,960 Retained Earnings 67,980 Supplies Expense 1,540 (a) Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent...
Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Sarasota Corp. is provided below. Credit Debit $69,700 25,250 12,670 204,290 87,460 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense $50,880 110,210 21,980 176,450 5,950 3,460 59,330 1,340 Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually....
View Policies Current Attempt in Progress Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Flint Corporation is provided below. Debit Credit Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation Equipment Unearned Rent Revenue Service Revenue $90,020 32,610 16,370 263,870 112,960 $65,720 142,350 28,400 227,910 7,690 Rent Revenue 4,460 Rent Expense Retained Earnings Supplies Expense 76,630 1,740 Date Account Titles and Explanation Debit Credit Dec. 31 (To close...
Exercise 4-20 (Part Level Submission)
Selected year-end account balances from the adjusted trial balance
as of December 31, 2017, for Blue Spruce Corp. is provided
below.
Debit
Credit
Accounts Receivable
$62,440
Dividends
22,620
Depreciation Expense
11,350
Equipment
183,010
Salaries and Wages Expense
78,350
Accounts Payable
$45,580
Accumulated Depreciation—Equipment
98,730
Unearned Rent Revenue
19,690
Service Revenue
158,070
Rent Revenue
5,330
Rent Expense
3,100
Retained Earnings
53,150
Supplies Expense
1,200
(a)
Prepare closing entries.
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