Homework Answers
| 1] | A business purchases equipment….........business |
| would. | |
| *Debit Equipment $5500, Credit Cash $1500 and | |
| Credit Accounts Payable $4000 | |
| 2] | The total of the figures….................The balance of |
| this account: | |
| *is $13300 and would be recorded on the left side | |
| of the T account. | |
| 3] | Which of the following group of acccounts…........ |
| same normal balance? | |
| *Accounts receivable, rent expense, John Smith- | |
| drawing. | |
| 4] | Which of the following woul cause…........out of |
| balance? | |
| *Placing the accounts receivable balance in the | |
| credit column. |
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A business purchases equipment costing $5,500. They pay $1,500 right away and charge the remaining amount....
please check my work and fill out the remaining. Saved Help Sav Your study partner is...
please check my work and fill out the remaining.
Saved Help Sav Your study partner is having trouble getting total debits to equal total credits in the trial balance. Credit $ 1,100 Trial Balance Accounts Debit Cash $ 5,300 Accounts Receivable Equipment 8,400 Accounts Payable 1,900 Deferred Revenue Common Stock 12,000 Retained Earnings Dividends 800 Service Revenue Salaries Expense 4,200 Utilities Expense 1,300 2,800 2,500 SO 700 Total $32,600 $8,400 Prepare a corrected trial balance by placing each account balance...
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000...
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000 Accounts Receivable 3,300 Prepaid Insurance 6,600 Supplies 1,200 Land 42,300 Equipment 5,700 Accumulated Depreciation Equipment Accounts Payable þwner, Capital pwner, Drawing 3,200 Service Fees Wages Expense 8,500 Supplies Expense 2,100 Utilities Expense 200 Insurance Expense 100 Depreciation Expense-Equipment 5,500 104,700 5,500 5,300 73,900 20,000 104,700 a. For each account, open a T account, title the account, and place its balance in it. Cash Accounts...
Prepare a corrected trial balance by changing incorrect amounts and placing each amount in the proper...
Prepare a corrected trial balance by changing incorrect amounts and placing each amount in the proper column. Davenport's European Tours Trial Balance October 31, 20-- Account Title Debit Credit Cash 15,560 Accounts Receivable 406 Supplies 246 Prepaid Insurance 589 Equipment 24,450 Accounts Payable 6,012 Davenport, Capital 30,500 Davenport, Drawing 1,800 Repair Fees 9,274 Wages Expense 4,250 Rent Expense 1,300 Advertising Expense 290 Utilities Expense 495 ______ 47,586 47,586 a. Be sure all accounts have been listed with the appropriate debit...
Help Seve A trial balance has total debits of $33,000 and total credits of $44,000. Which...
Help Seve A trial balance has total debits of $33,000 and total credits of $44,000. Which one of the following errors would create this imbalance? Multiple Choice A $5,500 debit to Utilities Expense in a journal entry was incorrectly posted to the ledger as a $5,500 credit, leaving the Utilities Expense account with a $6,250 debit balance. A $11,000 debit to Salaries Expense in a journal entry was incorrectly posted to the ledger as a $11,000 credit, leaving the Salaries...
Need help with the the lest side is not eual to right side right now. not...
Need help with the the lest side is not eual to right side right
now. not sure waht i am doing wrong. need help.
Data Tabte 1 The follow e does not balance. e delected e errors.) Building Blocks Child Care Prepars the corrected trial balance at Augus Trial Balance Irial Balance August 31, 2018 -X August 31, 2018 i More Info Balance Balance Credit Account Title Debit Account Title Credit Debit Cash 8,750 Cash 10400 Cash is understated by...
July 31 Fees Earned 21,200 Wages Expense Office Rent Expense 2,940 2,550 1,375 Equipment Rent Expense...
July 31 Fees Earned 21,200 Wages Expense Office Rent Expense 2,940 2,550 1,375 Equipment Rent Expense Utilities Expense 1,215 Music Expense 3,610 Advertising Expense 1,500 Supplies Expense 925 Insurance Expense 225 Depreciation Expense 50 Miscellaneous Expense 1,855 Peyton Smith, Capital 4,955 DATE ACCOUNT POST. REF. DEBIT CREDIT July 31 Peyton Smith, Capital 1,750 Peyton Smith, Drawing 1,750 PS Music Post-Closing Trial Balance July 31, 2019 Debit Balances Credit Balances Cash Accounts Receivable Supplies Prepaid Insurance Office Equipment Accumulated Depreciation Office...
For this handout I’m supposed to find what the error is in each problem and make...
For this handout I’m supposed to find what the error is in
each problem and make corrections to the account balance in the
end. I want to know for Q3 why is $180 added and subtracted from
just the debit side. I get why it’s added bc the wrong amount was
entered but why subtract it on the debit side after adding
it?
Handout1 he December 31 trial balance for the Alpha Company does not balance. You have been asked...
The journal entry to record the purchase of equipment for a $110 cash down payment and...
The journal entry to record the purchase of equipment for a $110 cash down payment and a balance of $420 due in 30 days would include Multiple Choice a debit to Equipment for $530, a credit to Cash for $110, and a credit to Accounts Payable for $420 a debit to Equipment for $110 and a credit to Cash for $110. O a debit to Equipment for $110 and a credit to Accounts Payable for $420. debit to Equipment for...
United Corporation began operations on February 1, 2014, and showed the following account balances at February...
United Corporation began operations on February 1, 2014, and showed the following account balances at February 28. Cash: $28,500; Accounts Receivable: $4,300; Prepaid Insurance: $1,000; Prepaid Rent: $1,300; Equipment: $4,800; Accounts Payable: $1,500; Share Capital: $25,500; Rent Earned: $15,000; Utilities Expense: $2,100. The following transactions occurred during March. a. March 1 : Kevin Smith (a shareholder), received share capital in United Corporation, after investing $35,000 cash into the business. b. March 2: United Corporation rented machinery to a customer on...
1. John Amos started the business with a cash investment of $56,000. 2 Purchased equipment for...
1. John Amos started the business with a cash investment of $56,000. 2 Purchased equipment for $20,000 on credit 3. Performed services for $2,700 in cash. 4. Purchased additional equipment for $4,200 in cash. 5. Performed services for $4,850 on credit. 6. Paid salaries of $4,250 to employees. 7. Received $2,800 cash from charge account customers. 8. Paid $11.400 to a creditor on account. Show how each transaction would be recorded in the accounting equation (Enter decreases to account balances...
please check my work and fill out the remaining.
Saved Help Sav Your study partner is having trouble getting total debits to equal total credits in the trial balance. Credit $ 1,100 Trial Balance Accounts Debit Cash $ 5,300 Accounts Receivable Equipment 8,400 Accounts Payable 1,900 Deferred Revenue Common Stock 12,000 Retained Earnings Dividends 800 Service Revenue Salaries Expense 4,200 Utilities Expense 1,300 2,800 2,500 SO 700 Total $32,600 $8,400 Prepare a corrected trial balance by placing each account balance...
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000 Accounts Receivable 3,300 Prepaid Insurance 6,600 Supplies 1,200 Land 42,300 Equipment 5,700 Accumulated Depreciation Equipment Accounts Payable þwner, Capital pwner, Drawing 3,200 Service Fees Wages Expense 8,500 Supplies Expense 2,100 Utilities Expense 200 Insurance Expense 100 Depreciation Expense-Equipment 5,500 104,700 5,500 5,300 73,900 20,000 104,700 a. For each account, open a T account, title the account, and place its balance in it. Cash Accounts...
Help Seve A trial balance has total debits of $33,000 and total credits of $44,000. Which one of the following errors would create this imbalance? Multiple Choice A $5,500 debit to Utilities Expense in a journal entry was incorrectly posted to the ledger as a $5,500 credit, leaving the Utilities Expense account with a $6,250 debit balance. A $11,000 debit to Salaries Expense in a journal entry was incorrectly posted to the ledger as a $11,000 credit, leaving the Salaries...
Need help with the the lest side is not eual to right side right
now. not sure waht i am doing wrong. need help.
Data Tabte 1 The follow e does not balance. e delected e errors.) Building Blocks Child Care Prepars the corrected trial balance at Augus Trial Balance Irial Balance August 31, 2018 -X August 31, 2018 i More Info Balance Balance Credit Account Title Debit Account Title Credit Debit Cash 8,750 Cash 10400 Cash is understated by...
July 31 Fees Earned 21,200 Wages Expense Office Rent Expense 2,940 2,550 1,375 Equipment Rent Expense Utilities Expense 1,215 Music Expense 3,610 Advertising Expense 1,500 Supplies Expense 925 Insurance Expense 225 Depreciation Expense 50 Miscellaneous Expense 1,855 Peyton Smith, Capital 4,955 DATE ACCOUNT POST. REF. DEBIT CREDIT July 31 Peyton Smith, Capital 1,750 Peyton Smith, Drawing 1,750 PS Music Post-Closing Trial Balance July 31, 2019 Debit Balances Credit Balances Cash Accounts Receivable Supplies Prepaid Insurance Office Equipment Accumulated Depreciation Office...
For this handout I’m supposed to find what the error is in
each problem and make corrections to the account balance in the
end. I want to know for Q3 why is $180 added and subtracted from
just the debit side. I get why it’s added bc the wrong amount was
entered but why subtract it on the debit side after adding
it?
Handout1 he December 31 trial balance for the Alpha Company does not balance. You have been asked...
The journal entry to record the purchase of equipment for a $110 cash down payment and a balance of $420 due in 30 days would include Multiple Choice a debit to Equipment for $530, a credit to Cash for $110, and a credit to Accounts Payable for $420 a debit to Equipment for $110 and a credit to Cash for $110. O a debit to Equipment for $110 and a credit to Accounts Payable for $420. debit to Equipment for...
United Corporation began operations on February 1, 2014, and showed the following account balances at February 28. Cash: $28,500; Accounts Receivable: $4,300; Prepaid Insurance: $1,000; Prepaid Rent: $1,300; Equipment: $4,800; Accounts Payable: $1,500; Share Capital: $25,500; Rent Earned: $15,000; Utilities Expense: $2,100. The following transactions occurred during March. a. March 1 : Kevin Smith (a shareholder), received share capital in United Corporation, after investing $35,000 cash into the business. b. March 2: United Corporation rented machinery to a customer on...
1. John Amos started the business with a cash investment of $56,000. 2 Purchased equipment for $20,000 on credit 3. Performed services for $2,700 in cash. 4. Purchased additional equipment for $4,200 in cash. 5. Performed services for $4,850 on credit. 6. Paid salaries of $4,250 to employees. 7. Received $2,800 cash from charge account customers. 8. Paid $11.400 to a creditor on account. Show how each transaction would be recorded in the accounting equation (Enter decreases to account balances...
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