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Question No. (7) (5 minutes): The list that follows presents all the accounts' balances (As obtained...
Question No. (5) (15 minutes): The following account balances were obtained from the trial balance of...
Question No. (5) (15 minutes): The following account balances were obtained from the trial balance of Alfa Corporation at 31 December 2016. Supplies 1,000 Cash 32,000 Wages Expense 14,000 Dividends 16,000 Accounts Payable 22,000 Notes Payable 4,000 Retained Earnings, 1 Jan, 2016 8,000 Accounts Receivable ??? Rent Expense 6,000 Share Capital 20,000 Commissions Revenue 30,000 Required: Calculate at, or for the year ended, December 31, 2016 (a) Net income or Loss. (b) Retained Earnings. (c) Total Liabilities and Equity. (d)...
Question No. (11) (5 minutes): Nano Company is a service company. Nano has the following balances...
Question No. (11) (5 minutes): Nano Company is a service company. Nano has the following balances at the start of January 2016: • Share Capital $ 20,000 • Retained Earnings $ 10,000 • Accounts Receivable $ 6,000 • Accounts Payable $ 4,000 • Cash $ 8,000 The following transactions took place during 2016: 15 February Collected $ 5,980 cash from the Accounts Receivable. 20 August: Paid $ 3,980 cash to the accounts payable. 31 December: Collected $ 9,000 cash in...
Question 3 of 6 Syner-V Company Adjusted Trial Balance Year ending December 31, 2016 Balances Accounts...
Question 3 of 6 Syner-V Company Adjusted Trial Balance Year ending December 31, 2016 Balances Accounts payable Accounts receivable 22,000 45,000 120,000 49,000 66,000 87,000 5,000 Accumulated depreciation - equipment Transportation expense Cash Owner's capital (1/1/16) Owner's drawings Depreciation expense Insurance expense Loans payable, due 12/15/18 Note payable, due 6/30/17 Prepaid insurance 36,000 3,400 300,000 56,000 12,000 42,000 55,000 Rent expense Salaries and wages expense Revenues Supplies Utilities expense Equipment Unearned revenue 198,000 3,000 29,800 340,000 60,000 What is the...
Question 3 of 6 Syner-V Company Adjusted Trial Balance Year ending December 31, 2016 Balances Accounts...
Question 3 of 6 Syner-V Company Adjusted Trial Balance Year ending December 31, 2016 Balances Accounts payable Accounts receivable 22,000 45,000 120,000 49,000 66,000 87,000 5,000 Accumulated depreciation - equipment Transportation expense Cash Owner's capital (1/1/16) Owner's drawings Depreciation expense Insurance expense Loans payable, due 12/15/18 Note payable, due 6/30/17 Prepaid insurance 36,000 3,400 300,000 56,000 12,000 42,000 55,000 Rent expense Salaries and wages expense Revenues Supplies Utilities expense Equipment Unearned revenue 198,000 3,000 29,800 340,000 60,000 What is the...
astion #3 (15 points) - use white space on this page (p. 5) for your answer....
astion #3 (15 points) - use white space on this page (p. 5) for your answer. tructions: Prepare a trial balance in good form" from the ledger accounts of Galaxie 500 mpany as of December 31, 2019. Account balances are normal balances. $ Accounts Payable Accounts Receivable Cash Owner's Capital Owner's Drawings $ 6,000 7,000 5,200 11,000 4,000 Utilities Expense Service Revenue Unearned Service Revenue Salaries and Wages Expense 12,000 30,000 2,000 20,800
The ledger account balances for Company B at December 31, 2025 are as follows: Cash $...
The ledger account balances for Company B at December 31, 2025 are as follows: Cash $ 300 Accounts Receivable 522 Prepaid Insurance 74 Supplies 160 Equipment 4,000 Accumulated Depreciation, Equipment 600 Accounts Payable 384 Common Stock 1,200 Retained Earnings 1,400 Service Revenue 3,000 Salaries and Wages Expense 1,000 Rent Expense 500 If all accounts have normal balances, what would be total debits on the trial balance at December 31, 2022? Group of answer choices
A list of accounts and balances below are ending December 31, 2017 from Wesley's Machining &...
A list of accounts and balances below are ending December 31, 2017 from Wesley's Machining & Welding, Inc. (WMW). Use these accounts to construct a balance sheet ending December 31, 2017. Make sure the order of the accounts on the balance sheet is listed according to the most liquid for assets and in order of payment for liabilities. Note: some of the balance sheet line items are already completed. Fill in the remaining account names and totals in the fields...
Presented below are the year-end balances at December 31 of Clyde Barrell Repair. (All accounts have...
Presented below are the year-end balances at December 31 of Clyde Barrell Repair. (All accounts have normal balances). Also, notice the accounts are not in order. You need to be able to pick out the accounts that get closed.) Supplies Expense.. Depreciation Expense... Unearned Revenues.... Accumulated depreciation equipment Advertising expense. Cash... Part Supplies. Insurance expense. Equipment.... Repair Service Revenue. Rent Expense.. Common Stock.. Retained Earnings.... Dividends.... Prepaid Insurance Salaries Payable.. Salary Expense. Accounts Receivable. Repair Parts Expense. Accounts Payable... Notes...
TRIAL BALANCE ERRORS - 21 POINTS All three of these Trial Balances have errors. On Blanc...
TRIAL BALANCE ERRORS - 21 POINTS All three of these Trial Balances have errors. On Blanc TROL BALANCE DECEMBER 31, 2012 REQUIRED: Identify the error(s) on each by circling the number that is incorrect, ommitted, or listed in the wrong column. Accounts Receivable Prepaid penses 10.00 4.000 Accounts Payable Uneamed Revenue Loan Payable Common Stock Retained Earnings REQUIRED: Enter the correct amount of total Debits and Credits in the space provided at the bottom of each trial balance. 13.000 10...
Instructions: Prepare the closing entries for the temporary accounts at August 31. RYAN COMPANY Trial Balance...
Instructions: Prepare the closing entries for
the temporary accounts at August 31.
RYAN COMPANY Trial Balance August 31, 2017 After Adjustment Cr. Dr. Cr. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense Before Adjustment Dr. $10,900 8,800 2,500 4,000 16,000 $ 3,600 5,800 0 1,800 10,000 5,500 2,800...
Question No. (5) (15 minutes): The following account balances were obtained from the trial balance of Alfa Corporation at 31 December 2016. Supplies 1,000 Cash 32,000 Wages Expense 14,000 Dividends 16,000 Accounts Payable 22,000 Notes Payable 4,000 Retained Earnings, 1 Jan, 2016 8,000 Accounts Receivable ??? Rent Expense 6,000 Share Capital 20,000 Commissions Revenue 30,000 Required: Calculate at, or for the year ended, December 31, 2016 (a) Net income or Loss. (b) Retained Earnings. (c) Total Liabilities and Equity. (d)...
Question No. (11) (5 minutes): Nano Company is a service company. Nano has the following balances at the start of January 2016: • Share Capital $ 20,000 • Retained Earnings $ 10,000 • Accounts Receivable $ 6,000 • Accounts Payable $ 4,000 • Cash $ 8,000 The following transactions took place during 2016: 15 February Collected $ 5,980 cash from the Accounts Receivable. 20 August: Paid $ 3,980 cash to the accounts payable. 31 December: Collected $ 9,000 cash in...
Question 3 of 6 Syner-V Company Adjusted Trial Balance Year ending December 31, 2016 Balances Accounts payable Accounts receivable 22,000 45,000 120,000 49,000 66,000 87,000 5,000 Accumulated depreciation - equipment Transportation expense Cash Owner's capital (1/1/16) Owner's drawings Depreciation expense Insurance expense Loans payable, due 12/15/18 Note payable, due 6/30/17 Prepaid insurance 36,000 3,400 300,000 56,000 12,000 42,000 55,000 Rent expense Salaries and wages expense Revenues Supplies Utilities expense Equipment Unearned revenue 198,000 3,000 29,800 340,000 60,000 What is the...
Question 3 of 6 Syner-V Company Adjusted Trial Balance Year ending December 31, 2016 Balances Accounts payable Accounts receivable 22,000 45,000 120,000 49,000 66,000 87,000 5,000 Accumulated depreciation - equipment Transportation expense Cash Owner's capital (1/1/16) Owner's drawings Depreciation expense Insurance expense Loans payable, due 12/15/18 Note payable, due 6/30/17 Prepaid insurance 36,000 3,400 300,000 56,000 12,000 42,000 55,000 Rent expense Salaries and wages expense Revenues Supplies Utilities expense Equipment Unearned revenue 198,000 3,000 29,800 340,000 60,000 What is the...
astion #3 (15 points) - use white space on this page (p. 5) for your answer. tructions: Prepare a trial balance in good form" from the ledger accounts of Galaxie 500 mpany as of December 31, 2019. Account balances are normal balances. $ Accounts Payable Accounts Receivable Cash Owner's Capital Owner's Drawings $ 6,000 7,000 5,200 11,000 4,000 Utilities Expense Service Revenue Unearned Service Revenue Salaries and Wages Expense 12,000 30,000 2,000 20,800
Presented below are the year-end balances at December 31 of Clyde Barrell Repair. (All accounts have normal balances). Also, notice the accounts are not in order. You need to be able to pick out the accounts that get closed.) Supplies Expense.. Depreciation Expense... Unearned Revenues.... Accumulated depreciation equipment Advertising expense. Cash... Part Supplies. Insurance expense. Equipment.... Repair Service Revenue. Rent Expense.. Common Stock.. Retained Earnings.... Dividends.... Prepaid Insurance Salaries Payable.. Salary Expense. Accounts Receivable. Repair Parts Expense. Accounts Payable... Notes...
TRIAL BALANCE ERRORS - 21 POINTS All three of these Trial Balances have errors. On Blanc TROL BALANCE DECEMBER 31, 2012 REQUIRED: Identify the error(s) on each by circling the number that is incorrect, ommitted, or listed in the wrong column. Accounts Receivable Prepaid penses 10.00 4.000 Accounts Payable Uneamed Revenue Loan Payable Common Stock Retained Earnings REQUIRED: Enter the correct amount of total Debits and Credits in the space provided at the bottom of each trial balance. 13.000 10...
Instructions: Prepare the closing entries for
the temporary accounts at August 31.
RYAN COMPANY Trial Balance August 31, 2017 After Adjustment Cr. Dr. Cr. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense Before Adjustment Dr. $10,900 8,800 2,500 4,000 16,000 $ 3,600 5,800 0 1,800 10,000 5,500 2,800...
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