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VIDEOT Question 1 (10 marks) At year end, on 31 December 2020, the unadjusted trial balance...
Information from the December 31, 2020, year-end unadjusted trial balance of Woodstock Store is as follows:...
Information from the December 31, 2020, year-end unadjusted trial balance of Woodstock Store is as follows: Debit Credit Cash $ 3,590 Merchandise inventory 31,490 Store supplies 1,805 Office supplies 735 Prepaid insurance 4,050 Store equipment 57,705 Accumulated depreciation, store equipment $ 6,840 Office equipment 13,190 Accumulated depreciation, office equipment 6,640 Accounts payable 4,090 Zen Woodstock, capital 52,090 Zen Woodstock, withdrawals 31,590 Rental revenue 14,690 Sales 501,610 Sales returns and allowances 3,005 Sales discounts 5,280 Purchases 330,595 Purchase returns and allowances...
The following unadjusted trial balance is prepared at fiscal year-end on December 31, 2020 for Mr....
The following unadjusted trial balance is prepared at fiscal year-end on December 31, 2020 for Mr. Magoo & Company. Accounts Payable Account Receivable Accumulated Depreciation-Store equipment Advertising expense Cash $34,000 18,000 27,000 21,800 44,400 243,000 167,800 2,000 224,000 Common Stock 6,600 Cost of goods sold Interest Expense Merchandise inventory Prepaid insurance Supplies Expense Retained earnings Salaries expense Sales Sales discounts Sales returns and allowances Store equipment Store supplies 26,000 75,000 63.000 327,100 1.000 5.000 81.800 9.700 Mr. Magoo & Compa...
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit...
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit $ 8,400 13,400 5,280 2,400 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 1,400 11,000 4,400 39,680 27,000 $56,480 $56,480 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,280, represents payment on October 31, Year 1, for rent from November 1, Year 1, to April 30, Year 2....
The unadjusted trial balance of Big Construction company on December 31, 2020, contained the attached accounts...
The unadjusted trial balance of Big Construction company on December 31, 2020, contained the attached accounts at the end of the company's calendar year. Inventory taken on 12/31/2020 was $42,000 Depreciation on equipment was $9,000 Unpaid accrued salaries were $2,800 Unexpired rent amounted to $2,500 Supplies on hand were $1,800 Accrued Sales revenue on 12/31/2020 was $3,400 Expired Insurance amounted to $2,000 Interest on the company's notes receivable at year-end amounted to $400 Unearned rent revenue earned at year-end amounted...
This alphabetized adjusted trial balance is for GalaVu Entertainment as of its December 31, 2020, year-end:...
This alphabetized adjusted trial balance is for GalaVu Entertainment as of its December 31, 2020, year-end: Debit $ Credit 43,300 $ 18,000 68,300 19,800 8,300 133,000 10,300 12,500 3,400 61,500 225,075 250 2,800 100 Accounts payable Accounts receivable Accumulated depreciation, automobiles Accumulated depreciation, equipment Advertising expense Automobiles Cash Depreciation expense, automobiles Depreciation expense, equipment Equipment Revenue Interest income Interest expense Interest payable Interest receivable John Conroe, capital John Conroe, withdrawals Land Long-term notes payable Notes receivable (due in 90 days)...
The following shows the unadjusted Trial Balance of Services as at 31 August 2020 is as...
The following shows the unadjusted Trial Balance of Services as at 31 August 2020 is as follows: Services Unadjusted Trial Balance as at 31 August 2020 Debit Credit RM RM Cash at Bank 70,400 Account Receivable 100,600 Provision for Doubtful Debts 4,000 Premises 220,000 Furniture 40,000 Accumulated Depreciation - Depreciation 8,000 Accounts Payable 80,000 Unearned Revenue 24,000 Loan @ 6% interest 100,000 Capital, Services 200,000 Drawings 3,000 Revenue 103,000 Prepaid Insurance 36,000 Utility expense 21,000 Salary Expense 25,000 Interest Expense...
The unadjusted trial balance of Anniston Air Purification System at December 31, 2018, and the data...
The unadjusted trial balance of Anniston Air Purification System at December 31, 2018, and the data needed for the adjustments follow. ANNISTON AIR PURIFICATION SYSTEM Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 57,600 Accounts Receivable 19,700 Prepaid Rent 2,900 Office Supplies 1,800 Equipment 22,000 Accumulated Depreciation Equipment $ 3,900 Accounts Payable 2,900 Salaries Payable Unearned Revenue 3,100 Common Stock 43,800 Dividends 9,900 Service Revenue 15,300 Salaries Expense 3,300 Rent Expense Depreciation Expense-Equipment Advertising Expense 1,800...
BIG CONSTRUCTION COMPANY Unadjusted Trial Balance December 31, 2020 ADIUSTED T.B. INCOME STATEMENT ADJUSTMENTS CREDIT UNADJUSTED...
BIG CONSTRUCTION COMPANY Unadjusted Trial Balance December 31, 2020 ADIUSTED T.B. INCOME STATEMENT ADJUSTMENTS CREDIT UNADJUSTED T.B CREDIT CREDIT DEBIT DEBIT DEBIT DEBIT CREDIT ACCOUNT TITLE Cash Notes Receivable Accounts Receivable 220,000 24,000 23,000 Inventory 12/31/2020 Prepaid Insurance 47,000 4,300 Prepaid Rent 8,400 Supplies Land 2,900 28.000 Equipment Accum Deprec-Equipment Accounts Payable 90,000 18,000 28.000 12,500 75.000 Unearned Rent Revenue Mortgage Payable (Due 2022) Owner's Capital Owner's Drawings 124,000 4,700 279,000 Sales Revenue 2,100 Sales Returns and Allowances 1,900 Sales...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below $ 8,200...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below $ 8,200 13,200 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense 5,040 2,200 $ 1,200 10,000 4,200 39,240 26,000 $54,640 $54,640 At year-end, the following additional information is available: At year-end, the following additional information is available: a. The balance of Prepaid Rent, $5,040, represents payment on October 31, 2018, for rent from November 1, 2018, to...
The unadjusted trial balance of Kingbird, Inc., a private company following ASPE, at December 31, 2020,...
The unadjusted trial balance of Kingbird, Inc., a private company following ASPE, at December 31, 2020, is as follows: Credit Cash Debit $17,690 109,600 $3,380 61,300 Accounts receivable Allowance for doubtful accounts Inventory Prepaid insurance Bond investment at amortized cost Land 4,692 48,000 30,000 150,100 11,890 32,400 5,400 16,600 Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Goodwill Accounts payable Bonds payable (20-year, 7%) Common shares Retained earnings Sales revenue Rent revenue Rent expense Supplies expense Purchases 101,900 180,000 120,600 48,847 180,000...
The following unadjusted trial balance is prepared at fiscal year-end on December 31, 2020 for Mr. Magoo & Company. Accounts Payable Account Receivable Accumulated Depreciation-Store equipment Advertising expense Cash $34,000 18,000 27,000 21,800 44,400 243,000 167,800 2,000 224,000 Common Stock 6,600 Cost of goods sold Interest Expense Merchandise inventory Prepaid insurance Supplies Expense Retained earnings Salaries expense Sales Sales discounts Sales returns and allowances Store equipment Store supplies 26,000 75,000 63.000 327,100 1.000 5.000 81.800 9.700 Mr. Magoo & Compa...
The December 31, Year 1, unadjusted trial balance for a company is presented below. Credit Debit $ 8,400 13,400 5,280 2,400 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 1,400 11,000 4,400 39,680 27,000 $56,480 $56,480 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,280, represents payment on October 31, Year 1, for rent from November 1, Year 1, to April 30, Year 2....
The unadjusted trial balance of Big Construction company on December 31, 2020, contained the attached accounts at the end of the company's calendar year. Inventory taken on 12/31/2020 was $42,000 Depreciation on equipment was $9,000 Unpaid accrued salaries were $2,800 Unexpired rent amounted to $2,500 Supplies on hand were $1,800 Accrued Sales revenue on 12/31/2020 was $3,400 Expired Insurance amounted to $2,000 Interest on the company's notes receivable at year-end amounted to $400 Unearned rent revenue earned at year-end amounted...
This alphabetized adjusted trial balance is for GalaVu Entertainment as of its December 31, 2020, year-end: Debit $ Credit 43,300 $ 18,000 68,300 19,800 8,300 133,000 10,300 12,500 3,400 61,500 225,075 250 2,800 100 Accounts payable Accounts receivable Accumulated depreciation, automobiles Accumulated depreciation, equipment Advertising expense Automobiles Cash Depreciation expense, automobiles Depreciation expense, equipment Equipment Revenue Interest income Interest expense Interest payable Interest receivable John Conroe, capital John Conroe, withdrawals Land Long-term notes payable Notes receivable (due in 90 days)...
The unadjusted trial balance of Anniston Air Purification System at December 31, 2018, and the data needed for the adjustments follow. ANNISTON AIR PURIFICATION SYSTEM Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 57,600 Accounts Receivable 19,700 Prepaid Rent 2,900 Office Supplies 1,800 Equipment 22,000 Accumulated Depreciation Equipment $ 3,900 Accounts Payable 2,900 Salaries Payable Unearned Revenue 3,100 Common Stock 43,800 Dividends 9,900 Service Revenue 15,300 Salaries Expense 3,300 Rent Expense Depreciation Expense-Equipment Advertising Expense 1,800...
BIG CONSTRUCTION COMPANY Unadjusted Trial Balance December 31, 2020 ADIUSTED T.B. INCOME STATEMENT ADJUSTMENTS CREDIT UNADJUSTED T.B CREDIT CREDIT DEBIT DEBIT DEBIT DEBIT CREDIT ACCOUNT TITLE Cash Notes Receivable Accounts Receivable 220,000 24,000 23,000 Inventory 12/31/2020 Prepaid Insurance 47,000 4,300 Prepaid Rent 8,400 Supplies Land 2,900 28.000 Equipment Accum Deprec-Equipment Accounts Payable 90,000 18,000 28.000 12,500 75.000 Unearned Rent Revenue Mortgage Payable (Due 2022) Owner's Capital Owner's Drawings 124,000 4,700 279,000 Sales Revenue 2,100 Sales Returns and Allowances 1,900 Sales...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below $ 8,200 13,200 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense 5,040 2,200 $ 1,200 10,000 4,200 39,240 26,000 $54,640 $54,640 At year-end, the following additional information is available: At year-end, the following additional information is available: a. The balance of Prepaid Rent, $5,040, represents payment on October 31, 2018, for rent from November 1, 2018, to...
The unadjusted trial balance of Kingbird, Inc., a private company following ASPE, at December 31, 2020, is as follows: Credit Cash Debit $17,690 109,600 $3,380 61,300 Accounts receivable Allowance for doubtful accounts Inventory Prepaid insurance Bond investment at amortized cost Land 4,692 48,000 30,000 150,100 11,890 32,400 5,400 16,600 Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Goodwill Accounts payable Bonds payable (20-year, 7%) Common shares Retained earnings Sales revenue Rent revenue Rent expense Supplies expense Purchases 101,900 180,000 120,600 48,847 180,000...
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