Homework Answers
Answer
1.$43900
2.0
3.$69260
The following are the closing entries for adjusted trial balance;
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O ACCOUNTING CYCLE Effects of closing entries on account balances Account Titles Debit Credit Cash $21,270...
on our balances Account Titles Debit Credit Cash $24,190 Accounts Receivable 20,000 Supplies 9,330 Equipment 38,900...
on our balances Account Titles Debit Credit Cash $24,190 Accounts Receivable 20,000 Supplies 9,330 Equipment 38,900 Accumulated Depreciation $8,400 Accounts Payable 4,390 Deferred Rent Revenue 2,240 Capital 62,290 Drawing 14,100 Commission Revenue 46,400 Rent Revenue 5.400 More Practice Effects of closing entries on account balances SISSAGELLAGELIG 2290 Capital 62,290 Drawing 14,100 Commission Revenue 46,400 5,400 Rent Revenue Depreciation Expense 7,500 Utilities Expense 9,900 Supplies Expense 5,200 Total $129,120 $129,120 e president of Roberts Company has asked you to close the...
Powell Company had the following adjusted trial balance: Account Titles Credit Cash Debit $20.390 17.800 Accounts...
Powell Company had the following adjusted trial balance: Account Titles Credit Cash Debit $20.390 17.800 Accounts Receivable Supplies 7,690 44,900 Equipment $ 7,100 Accumulated Depreciation Accounts Payable Deferred Rent Revenue 4,000 1,950 36,630 21,900 Capital Stock Retained Earnings Dividends 16,000 Commission Revenue 50,400 5,200 Rent Revenue 6,100 Depreciation Expense Utilities Expense 9.200 Supplies Expense 5,100 Total $127,180 S127.180 The president of Powell Company has asked you to close the books (prepare and process the The president of Powell Company has...
Hill Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable $21,780...
Hill Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable $21,780 17,190 7,710 Supplies 39,800 Equipment Accumulated Depreciation Accounts Payable $9,900 Deferred Rent Revenue Capital Stock 3,700 2,260 19,720 21,400 Retained Earnings Dividends 13,300 Commission Revenue 59,300 Rent Revenue 6,100 Depreciation Expense Utilities Expense 7,800 9,300 5,500 Supplies Expense Total $122,380 $122,380 The president of Hill Company has asked you to close the books (prepare and process the closing entries). Required: After the closing process...
Thomas Company had the following adjusted trial balance: Account Titles Credit Cash Accounts Receivable Debit $22,790...
Thomas Company had the following adjusted trial balance: Account Titles Credit Cash Accounts Receivable Debit $22,790 19,830 7.540 36,300 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue $9,800 3,780 2,020 24,060 24,800 Capital Stock Retained Earnings Dividends 16,000 Commission Revenue 52,600 6,000 Rent Revenue Depreciation Expense Utilities Expense Supplies Expense 6,300 9,300 5,000 S123,060 Total $123,060 The president of Thomas Company has asked you to close the books (prepare and process the closing entries). After the closing process has...
Rivera Company had the following adjusted trial balance: Account Titles Debit Credit Cash $27,110 Accounts Receivable...
Rivera Company had the following adjusted trial balance: Account Titles Debit Credit Cash $27,110 Accounts Receivable 16,040 Supplies 9,930 41,800 Equipment Accumulated Depreciation $8,900 Accounts Payable Deferred Rent Revenue 3,380 1,970 32,430 23,200 Capital Stock Retained Earnings Dividends 16,200 Commission Revenue 57,400 5,200 Rent Revenue Depreciation Expense 6,800 Utilities Expense 9,500 Supplies Expense 5,100 Total $132,480 $ 132,480 The president of Rivera Company has asked you to close the books (prepare and process the closing entries). Required: After the closing...
Murphy Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable Supplies...
Murphy Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable Supplies $22,630 17,720 9,150 41,700 Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock $8,800 4,310 1,500 35,590 21,600 Retained Earnings Dividends 14,000 Commission Revenue Rent Revenue Depreciation Expense Utilities Expense Supplies Expense Total 45,900 6,400 5,400 7,900 5,600 $124,100 S124,100 The president of Murphy Company has asked you to close the books (prepare and process the closi Required: Rent Revenue Depreciation Expense Utilities...
Knowledge Check Question 10 Griffin Company had the following adjusted trial balance: Account Titles Debit Credit...
Knowledge Check Question 10 Griffin Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable S20,790 15,940 9,370 40,500 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue S8,800 4.290 2,490 21,520 22,400 13,400 54,200 6,600 Rent Revenue Depreciation Expense Utilities Expense 6,900 8.200 5,200 S120,300 Supplies Expense Total S120,300 I Don't Know Submit e here to search BI Question 10 Supplies Expense Total 5,200 S120,300 $120,300 The president...
1 Cash is a temporary account and it should be zero after all closing entries have...
1 Cash is a temporary account and it should be zero after all closing entries have been posted. True False 2 The accounting cycle begins at the start of a new accounting period. True False 3 Crane Company has the following year-end account balances on November 30, 2017: Service Revenue $37,000; Insurance Expense $2,700; Rent Expense $8,000; Supplies Expense $1,350; L. Wilfrid, Capital $42,000; and L. Wilfrid, Drawings $28,000. Prepare the closing entries. (Credit account titles are automatically indented when...
The End of the Accounting Cycle – the closing process: The accounts and balances from the...
The End of the Accounting Cycle – the closing process: The accounts and balances from the adjusted trial balance for Sparrow and Nightingale, Inc. as of April 30, 2019 is given below. Assume all accounts have their normal debit or credit balance. Sparrow and Nightingale, Inc. use a monthly accounting period and all closing entries are made only at the end of each monthly accounting period. No closing entries have been made yet for April. Account: Amount: Account: Amount: Cash...
4. The End of the Accounting Cycle – the closing process (5pts): The accounts and balances...
4. The End of the Accounting Cycle – the closing process (5pts): The accounts and balances from the adjusted trial balance for Sparrow and Nightingale, Inc. as of April 30, 2019 is given below. Assume all accounts have their normal debit or credit balance. Sparrow and Nightingale, Inc. use a monthly accounting period and all closing entries are made only at the end of each monthly accounting period. No closing entries have been made yet for April. Account: Amount: Account:...
on our balances Account Titles Debit Credit Cash $24,190 Accounts Receivable 20,000 Supplies 9,330 Equipment 38,900 Accumulated Depreciation $8,400 Accounts Payable 4,390 Deferred Rent Revenue 2,240 Capital 62,290 Drawing 14,100 Commission Revenue 46,400 Rent Revenue 5.400 More Practice Effects of closing entries on account balances SISSAGELLAGELIG 2290 Capital 62,290 Drawing 14,100 Commission Revenue 46,400 5,400 Rent Revenue Depreciation Expense 7,500 Utilities Expense 9,900 Supplies Expense 5,200 Total $129,120 $129,120 e president of Roberts Company has asked you to close the...
Powell Company had the following adjusted trial balance: Account Titles Credit Cash Debit $20.390 17.800 Accounts Receivable Supplies 7,690 44,900 Equipment $ 7,100 Accumulated Depreciation Accounts Payable Deferred Rent Revenue 4,000 1,950 36,630 21,900 Capital Stock Retained Earnings Dividends 16,000 Commission Revenue 50,400 5,200 Rent Revenue 6,100 Depreciation Expense Utilities Expense 9.200 Supplies Expense 5,100 Total $127,180 S127.180 The president of Powell Company has asked you to close the books (prepare and process the The president of Powell Company has...
Hill Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable $21,780 17,190 7,710 Supplies 39,800 Equipment Accumulated Depreciation Accounts Payable $9,900 Deferred Rent Revenue Capital Stock 3,700 2,260 19,720 21,400 Retained Earnings Dividends 13,300 Commission Revenue 59,300 Rent Revenue 6,100 Depreciation Expense Utilities Expense 7,800 9,300 5,500 Supplies Expense Total $122,380 $122,380 The president of Hill Company has asked you to close the books (prepare and process the closing entries). Required: After the closing process...
Thomas Company had the following adjusted trial balance: Account Titles Credit Cash Accounts Receivable Debit $22,790 19,830 7.540 36,300 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue $9,800 3,780 2,020 24,060 24,800 Capital Stock Retained Earnings Dividends 16,000 Commission Revenue 52,600 6,000 Rent Revenue Depreciation Expense Utilities Expense Supplies Expense 6,300 9,300 5,000 S123,060 Total $123,060 The president of Thomas Company has asked you to close the books (prepare and process the closing entries). After the closing process has...
Rivera Company had the following adjusted trial balance: Account Titles Debit Credit Cash $27,110 Accounts Receivable 16,040 Supplies 9,930 41,800 Equipment Accumulated Depreciation $8,900 Accounts Payable Deferred Rent Revenue 3,380 1,970 32,430 23,200 Capital Stock Retained Earnings Dividends 16,200 Commission Revenue 57,400 5,200 Rent Revenue Depreciation Expense 6,800 Utilities Expense 9,500 Supplies Expense 5,100 Total $132,480 $ 132,480 The president of Rivera Company has asked you to close the books (prepare and process the closing entries). Required: After the closing...
Murphy Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable Supplies $22,630 17,720 9,150 41,700 Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock $8,800 4,310 1,500 35,590 21,600 Retained Earnings Dividends 14,000 Commission Revenue Rent Revenue Depreciation Expense Utilities Expense Supplies Expense Total 45,900 6,400 5,400 7,900 5,600 $124,100 S124,100 The president of Murphy Company has asked you to close the books (prepare and process the closi Required: Rent Revenue Depreciation Expense Utilities...
Knowledge Check Question 10 Griffin Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable S20,790 15,940 9,370 40,500 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue S8,800 4.290 2,490 21,520 22,400 13,400 54,200 6,600 Rent Revenue Depreciation Expense Utilities Expense 6,900 8.200 5,200 S120,300 Supplies Expense Total S120,300 I Don't Know Submit e here to search BI Question 10 Supplies Expense Total 5,200 S120,300 $120,300 The president...
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