Homework Answers
| Date | Description | Post Ref. | Debit | Credit |
| 20Y7 | ||||
| Aug. 31 | Drawings/Withdrawals | 10,000 | ||
| Cash | 10,000 |
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775,000 Fees Earned Salary and Commission Expense 436,000 Rent Expense 56,200 Advertising Expense 40,200 Automobile Expense...
5a. Assume that the August 31 transaction for Cindy Getman's cash withdrawal should have been $10,000....
5a. Assume that the August 31 transaction for Cindy Getman's cash withdrawal should have been $10,000. As a result, the unadjusted trial balance in (4) would still balance. 5b. Assume that the August 31 transaction for Cindy Getman's cash withdrawal should have been $10,000. Journalize the correcting entry. If an amount box does not require an entry, leave it blank. General Journal Page 19 Date Description Post. Ref. Debit Credit 2019 Aug. 31 5c. Assume that the August 31 transaction...
Valley Realty Unadjusted Trial Balance July 31, 20Y7 Account No. Debit Balances Credit Balances Cash 11...
Valley Realty Unadjusted Trial Balance July 31, 20Y7 Account No. Debit Balances Credit Balances Cash 11 52,500 Accounts Receivable 12 100,100 Prepaid Insurance 13 12,600 Office Supplies 14 2,800 Land 16 — Accounts Payable 21 21,000 Unearned Rent 22 — Notes Payable 23 — Cindy Getman, Capital 31 87,500 Cindy Getman, Drawing 32 44,800 Fees Earned 41 591,500 Salary and Commission Expense 51 385,000 Rent Expense 52 49,000 Advertising Expense 53 32,200 Automobile Expense 54 15,750 Miscellaneous Expense 59 5,250...
What is the drawing, fees earned, wages expense, rent expense, & utilities expense? 32 | Balance...
What is the drawing,
fees earned, wages expense, rent expense, & utilities
expense?
32 | Balance Kris Storey, Drawing Date Item 2019 June Post Ref. Dr. Cr. Dr. Cr. Fees Earned 41 Post _ Dr. Balance 4 Cr. Item Ref. Cr. Dr. Date 2019 June Wages Expense Enter as a formula calling on amounts in the trial balance. Dr. 51 Balance Dr. Cr. Item cr. Date 2019 June Rent Expense 53 Post Balance Item Ref. Dr. Cr. Dr. Balance Cr....
Journal Entries and Trial Balance Elite Realty acts as an agent in buying, selling, renting, and...
Journal Entries and Trial Balance Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2019, follows: Elite Realty Unadjusted Trial Balance March 31, 2019 Account No. Debit Balances Credit Balances 11 Cash 12,970 12 Accounts Receivable 30,230 13 Prepaid Insurance 1,470 14 Office Supplies 880 16 Land — 21 Accounts Payable 8,550 22 Unearned Rent — 23 Notes Payable — 31 Lester Wagner, Capital 29,500 32 Lester Wagner,...
Apr 1 2 5 Paid rent on office for month, 56,000. Purchased office supplies on account,...
Apr 1 2 5 Paid rent on office for month, 56,000. Purchased office supplies on account, $2,400 Paid insurance premiums, $5,000. 10 Received cash from clients on account, $52,700. 15 Purchased land for a future building site for $227,000 paying $27,000 in cash and giving a note payable for the remainder Paid creditors on account, $6,050 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $360 23 Paid advertising expense, S4,150....
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2016, follows: Elite Realty UNADJUSTED TRIAL BALANCE March 31, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 25,300.00 2 Accounts Receivable 61,700.00 3 Prepaid Insurance 2,700.00 4 Office Supplies 2,000.00 5 Land 6 Accounts Payable 12,400.00 7 Unearned Rent 8 Notes Payable 9 Common Stock 10,000.00 10 Retained Earnings 37,100.00 11 Dividends 2,400.00 12 Fees Earned 238,000.00 13 Salary and...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted...
Elite Realty acts as an agent in buying, selling, renting, and
managing real estate. The unadjusted trial balance on March 31,
2019, follows:
Elite Realty
UNADJUSTED TRIAL BALANCE
March 31, 2019
ACCOUNT TITLE DEBIT CREDIT
1
Cash
25,800.00
2
Accounts Receivable
60,800.00
3
Prepaid Insurance
3,200.00
4
Office Supplies
2,200.00
5
Land
6
Accounts Payable
13,000.00
7
Unearned Rent
8
Notes Payable
9
Lester Wagner, Capital
44,000.00
10
Lester Wagner, Drawing
2,400.00
11
Fees Earned
243,100.00
12
Salary and Commission...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2043, follows: CREDIT Elite Realty UNADJUSTED TRIAL BALANCE March 31, 2073 ACCOUNT TITLE DEBIT 1 Cash 25200.00 2 Accounts Receivable 62.500.00 3 Prepaid Insurance 2,500.00 4 Office Supplies 1,600.00 5 Accounts Payable 6 Common Stock 7 Retained Eamings 8 Dividends 2,100.00 9 Fees Eamed 10 Salary and Commission Expense 145,500.00 11 Rent Expense 27,000.00 12 Advertising Expense 16,600.00 13...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2043, follows: CREDIT Elite Realty UNADJUSTED TRIAL BALANCE March 31, 2073 ACCOUNT TITLE DEBIT 1 Cash 25200.00 2 Accounts Receivable 62.500.00 3 Prepaid Insurance 2,500.00 4 Office Supplies 1,600.00 5 Accounts Payable 6 Common Stock 7 Retained Eamings 8 Dividends 2,100.00 9 Fees Eamed 10 Salary and Commission Expense 145,500.00 11 Rent Expense 27,000.00 12 Advertising Expense 16,600.00 13...
3) Cash Service Revenue Salaries Expense Accounts Payable C Retained Earnings Utilities Expense Accounts Receivable Common...
3) Cash Service Revenue Salaries Expense Accounts Payable C Retained Earnings Utilities Expense Accounts Receivable Common Stock Dividends How many of the above accounts have a normal debit balance? A) Six. C) Four D) Seven. 214) For a journal entry with only two lines, the following entry is valid: Increase in Revenue, Decrease in Expense A) True B) False 215) For a journal entry with only two lines, the following entry is valid Increase in Expense, Increase in Dividends. B)...
5a. Assume that the August 31 transaction for Cindy Getman's cash withdrawal should have been $10,000. As a result, the unadjusted trial balance in (4) would still balance. 5b. Assume that the August 31 transaction for Cindy Getman's cash withdrawal should have been $10,000. Journalize the correcting entry. If an amount box does not require an entry, leave it blank. General Journal Page 19 Date Description Post. Ref. Debit Credit 2019 Aug. 31 5c. Assume that the August 31 transaction...
What is the drawing,
fees earned, wages expense, rent expense, & utilities
expense?
32 | Balance Kris Storey, Drawing Date Item 2019 June Post Ref. Dr. Cr. Dr. Cr. Fees Earned 41 Post _ Dr. Balance 4 Cr. Item Ref. Cr. Dr. Date 2019 June Wages Expense Enter as a formula calling on amounts in the trial balance. Dr. 51 Balance Dr. Cr. Item cr. Date 2019 June Rent Expense 53 Post Balance Item Ref. Dr. Cr. Dr. Balance Cr....
Apr 1 2 5 Paid rent on office for month, 56,000. Purchased office supplies on account, $2,400 Paid insurance premiums, $5,000. 10 Received cash from clients on account, $52,700. 15 Purchased land for a future building site for $227,000 paying $27,000 in cash and giving a note payable for the remainder Paid creditors on account, $6,050 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $360 23 Paid advertising expense, S4,150....
Elite Realty acts as an agent in buying, selling, renting, and
managing real estate. The unadjusted trial balance on March 31,
2019, follows:
Elite Realty
UNADJUSTED TRIAL BALANCE
March 31, 2019
ACCOUNT TITLE DEBIT CREDIT
1
Cash
25,800.00
2
Accounts Receivable
60,800.00
3
Prepaid Insurance
3,200.00
4
Office Supplies
2,200.00
5
Land
6
Accounts Payable
13,000.00
7
Unearned Rent
8
Notes Payable
9
Lester Wagner, Capital
44,000.00
10
Lester Wagner, Drawing
2,400.00
11
Fees Earned
243,100.00
12
Salary and Commission...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2043, follows: CREDIT Elite Realty UNADJUSTED TRIAL BALANCE March 31, 2073 ACCOUNT TITLE DEBIT 1 Cash 25200.00 2 Accounts Receivable 62.500.00 3 Prepaid Insurance 2,500.00 4 Office Supplies 1,600.00 5 Accounts Payable 6 Common Stock 7 Retained Eamings 8 Dividends 2,100.00 9 Fees Eamed 10 Salary and Commission Expense 145,500.00 11 Rent Expense 27,000.00 12 Advertising Expense 16,600.00 13...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2043, follows: CREDIT Elite Realty UNADJUSTED TRIAL BALANCE March 31, 2073 ACCOUNT TITLE DEBIT 1 Cash 25200.00 2 Accounts Receivable 62.500.00 3 Prepaid Insurance 2,500.00 4 Office Supplies 1,600.00 5 Accounts Payable 6 Common Stock 7 Retained Eamings 8 Dividends 2,100.00 9 Fees Eamed 10 Salary and Commission Expense 145,500.00 11 Rent Expense 27,000.00 12 Advertising Expense 16,600.00 13...
3) Cash Service Revenue Salaries Expense Accounts Payable C Retained Earnings Utilities Expense Accounts Receivable Common Stock Dividends How many of the above accounts have a normal debit balance? A) Six. C) Four D) Seven. 214) For a journal entry with only two lines, the following entry is valid: Increase in Revenue, Decrease in Expense A) True B) False 215) For a journal entry with only two lines, the following entry is valid Increase in Expense, Increase in Dividends. B)...
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