Hello, I had gotten these questions wrong and am adding a photo of my work and I was wondering if you guys could help me find the correct answer to these. Thank you, will upvote but please hurry if possible.
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Hello, I had gotten these questions wrong and am adding a photo of my work and...
Please provide answers AND explanations for each of the 5 questions. correct answers will get a thumbs up. Thank you! Question 4 1 pts USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (5) QUESTIONS: Magic Cleaning Services has a fiscal year end of December 31st. It is in its first year of operations. As of December 31, Magic has the following unadjusted trial balance: Debit Credit $ 430,900 $158,000 $111,000 $ 90,000 Account Cash Accounts Receivable Supplies Building Accounts Payable...
Question: USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (5) QUESTIONS: Magic Cleaning Services has a fiscal year end of December 31st. It is in its first year of operations. As of December 31, Magic has the following unadjusted trial balance: Account Debit Credit Cash $ 430,900 Accounts Receivable $158,000 Supplies $111,000 Equipment $120,000 Accounts Payable $ 45,900 Unearned Service Revenue $ 113,600 Common Stock $ 100,000 Retained Earnings -0- Service Revenue $ 649,200 Wage Expense $ 48,600 Rent Expense...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (5) QUESTIONS Magic Cleaning Services has a fiscal year end of December 31st. It is in its first year of operations As of December 31, Magic has the following unadjusted trial balance Account Cash Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Service Revenue Wage Expense Rent Expense Utilities Expense Administrative Expense Debit $430,900 $158,000 $111,000 $120,000 Credit $ 45,900 $ 113,600 $100,000 $649,200 $ 48,600 $...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (5) QUESTIONS Magic Cleaning Services has a fiscal year end of December 31st. It is in its first year of operations As of December 31, Magic has the following unadjusted trial balance Account Cash Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Service Revenue Wage Expense Rent Expense Utilities Expense Administrative Expense Debit $430,900 $158,000 $111,000 $120,000 Credit $ 45,900 $ 113,600 $100,000 $649,200 $ 48,600 $...
the total of cummulatice effect of errors has one part that is wrong as i got a 3/4... please tell me the correct answer for either assets, liabilities, equity, or net income Question 1: Transaction A: Previously rent expense is debited. So, this expense is for 18 months. Expense relating to up to december is to be taken in to income statement. So only for 8 months rent is debited. to reduce the previous debit, now credit the rent expense....
Please fix my answers Home Team Corporation recently hired Steve Willits as its bookkeeper. Mr. Willits is somewhat inexperienced and has made numerous errors recording daily business transactions. Indicate the effects of the errors described as follows on each of the financial statement elements shown in the column headings. Use the following symbols: O for overstated, U for understated, and NE for no effect. Answer is complete but not entirely correct. Error Owners' Equity NE XU X NE Recorded the...
Print 5. Cynthia Elmer. CPA, had the following partial worksheet: (Click the icon to view the partial worksheet.) Read the requirements? Requirement 1. Complete the worksheet. Complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step. Cynthia Elmer, CPA Worksheet December 31, 2018 Income Adjusted Trial Balance Balance Sheet Statement Account Names Debit Credit Debit Credit Debit Credit Cash Accounts Receivable Office Supplies Prepaid Rent 46,900...
I am unsure if my data on the last page are correct. I feel as though I am missing at least one number in each. Thanks! P3-36A Journalizing and posting adjustments to the four-column accounts and preparing an adjusted trial balance The unadjusted trial balance of Newport Inn Company at December 31, 2016, and the data needed for the adjustments follow NEWPORT INN COMPANY Unadjusted Trial Balance December 31, 2016 Balance Account Title Cash Accounts Receivable Prepaid Insurance Office Supplies...
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (5) QUESTIONS: Magic Cleaning Services has a fiscal year end of December 31st. It is in its first year of operations. As of December 31, Magic has the following unadjusted trial balance Account Cash Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Service Revenue Wage Expense Rent Expense Utilities Expense Debit S 430,900 $158,000 S111,000 S120,000 Credit S 45,900 S 113,600 S 100,000 S 649,200 S 48,600...
I did the whole work but I still can not understand why my assets are not matching with my liabilites. could you please help me fix my balance sheet? 31-Dec $40. One month's insurance has been used by the company 31-Dec The remaining inventory of unused office supplies is $90. 31-Dec The estimated depreciation on equipment is $60. Wages incurred from December 29 to December 31 but not yet paid or 31-Dec recorded total $450. Began business by depositing $6000...