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E S TETSSIBILITIES 14 XYZ Products, Selected Accounts from the Adjusted Trial Balance dated December 31,...
The following is a list of the accounts and balances taken from the adjusted trial balance at December 31, 2021 for, Me...
The following is a list of the accounts and balances taken from the adjusted trial balance at December 31, 2021 for, Meilleur Merchants. The list of accounts is in alphabetical order. All accounts have normal balances. Meilleur uses a periodic inventory system and the earnings approach to recognize revenue. Account 1 Accounts payable 2 Accounts receivable 3 Accumulated depreciation-building 4 Accumulated depreciation equipment 5 Advertising expense 6 Building 7 S. Meilleur, capital 8 S. Meilleur, drawings 9 Cash 10 Depreciation...
The following list includes temporary accounts from the December 31 adjusted trial balance of Emiko Co....
The following list includes temporary accounts from the December 31 adjusted trial balance of Emiko Co. Use these normal account balances to journalize closing entries. Credit Debit $ 44,000 $573,000 Dividends Sales Sales returns and allowances Sales discounts Cost of goods sold Sales salaries expense Utilities expense Selling expenses Administrative expenses 19,700 6,100 234,000 59,000 20,500 41,500 116,000 View transaction list X 1 Record closing of credit balances in temporary accounts. > 2 Record closing of debit balances in temporary...
Solev this problem by using periodic format TRITON DEPARTMENT STORE Adjusted Trial Balance December 31, 2018...
Solev this problem by using periodic format
TRITON DEPARTMENT STORE Adjusted Trial Balance December 31, 2018 $ Account Title Cash Accounts Receivable Merchandise Inventory (beginning) Office Supplies Furniture Accumulated Depreciation Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Balance Debit Credit 8,200 84,600 37,800 850 86,000 $ 18,500 29,400 2,300 14,900 36,000 60,000 22,850 88,600 374,000 295,000 Dividends Sales Revenue Purchases Purchase Returns and Allowances Purchase Discounts Freight in Selling Expense Administrative Expense Interest...
The adjusted trial balance of Pronghorn Wholesale Inc. contained the following accounts at December 31, the...
The adjusted trial balance of Pronghorn Wholesale Inc.
contained the following accounts at December 31, the company’s year
end:
PRONGHORN WHOLESALE INC.
Adjusted Trial Balance
December 31, 2018
Debit
Credit
Cash
$12,900
Accounts receivable
18,000
Prepaid insurance
2,600
Inventory
105,500
Supplies
6,300
Land
129,600
Buildings
217,300
Accumulated depreciation—buildings
$92,400
Equipment
96,500
Accumulated depreciation—equipment
33,300
Accounts payable
61,600
Unearned revenue
9,000
Income tax payable
3,900
Bank loan payable
97,400
Common shares
51,000
Retained earnings
142,700
Sales
1,098,700
Sales returns and allowances...
From the following T accounts, journalize the closing entries dated December 31 for Baylor Company. If...
From the following T accounts, journalize the closing entries dated December 31 for Baylor Company. If an amount box does not require an entry, leave it blank. Salary Expense H. Baylor, Drawing + − + − 65,000 55,000 Purchases Returns and Allowances Purchases − + + − 8,600 235,600 Miscellaneous Expense Rent Expense + − + − 12,200 22,000 Sales Returns and Allowances Freight In + − + − 7,400 11,200 Sales Income Summary − + 87,000 103,000 502,000 H....
The following balances are from the December 31, 2015 unadjusted trial balance of Carlton Company: Inventory...
The following balances are from the December 31, 2015 unadjusted trial balance of Carlton Company: Inventory (1/1) $64,000 Sales 2,200,000 Sales returns and allowance 150,000 Purchases 1,450,000 Purchase returns and allowances 20,000 Purchase discounts 25,000 Freight-in 40,000 A physical inventory on December 31, found inventory equal to $230,000 on-hand. Carlton uses the periodic inventory method. What is cost of goods sold for 2015?
The adjusted trial balance of Blue Spruce Wholesale Inc. contained the following accounts at December 31,...
The adjusted trial balance of Blue Spruce Wholesale Inc.
contained the following accounts at December 31, the company’s year
end:
Question 4 The adjusted trial balance of Blue Spruce Wholesale Inc. contained the following accounts at December 31, the company's year end: Credit BLUE SPRUCE WHOLESALE INC. Adjusted Trial Balance December 31, 2018 Debit Cash $12,900 Accounts receivable 17,800 Prepaid insurance 2,200 Inventory 103,900 Supplies 5,700 Land 128,500 Buildings 217,000 Accumulated depreciation-buildings Equipment 95,800 Accumulated depreciation-equipment Accounts payable Unearned revenue...
Valley Company’s adjusted trial balance on August 31, 2016, its fiscal year-end, follows. Debit Credit Merchandise...
Valley Company’s adjusted trial balance on August 31, 2016, its fiscal year-end, follows. Debit Credit Merchandise inventory $ 38,000 Other (noninventory) assets 152,000 Total liabilities $ 43,890 Common stock 51,152 Retained earnings 74,433 Dividends 8,000 Sales 259,920 Sales discounts 3,977 Sales returns and allowances 17,155 Cost of goods sold 100,577 Sales salaries expense 35,609 Rent expense—Selling space 12,216 Store supplies expense 3,119 Advertising expense 22,093 Office salaries expense 32,490 Rent expense—Office space 3,119 Office supplies expense 1,040 Totals $ 429,395...
The following list includes selected permanent accounts and all of the temporary accounts from the December...
The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2018, unadjusted trial balance of Emiko Co.. Emiko Co. uses a perpetual inventory system. Debit Credit Merchandise inventory $ 32,500 Prepaid selling expenses 6,100 Dividends 38,000 Sales $ 549,000 Sales returns and allowances 18,500 Sales discounts 5,500 Cost of goods sold 222,000 Sales salaries expense 53,000 Utilities expense 17,500 Selling expenses 38,500 Administrative expenses 110,000 Additional Information Accrued sales salaries amount to $1,700....
PRACTICE PROBLEM - PERIODIC Adjustment Data: For the Year Ended December 31, 2014 1) A physical merchandise inventory t...
PRACTICE PROBLEM - PERIODIC Adjustment Data: For the Year Ended December 31, 2014 1) A physical merchandise inventory taken on December 31 amounted to $8,000 2) Accrued Salesman Salary, $7,000 3) The store machinery purchased has an estimated useful life of 5 years 4) Unusued office supplies at year end $3,000. Required a) Prepare Worksheet as of December 31, 2014 - Place accounts in Financial Statement Order d) Prepare All Financial Statements (Income Statement, Capital Statement, Balance Sheet) e) Prepare...
The following is a list of the accounts and balances taken from the adjusted trial balance at December 31, 2021 for, Meilleur Merchants. The list of accounts is in alphabetical order. All accounts have normal balances. Meilleur uses a periodic inventory system and the earnings approach to recognize revenue. Account 1 Accounts payable 2 Accounts receivable 3 Accumulated depreciation-building 4 Accumulated depreciation equipment 5 Advertising expense 6 Building 7 S. Meilleur, capital 8 S. Meilleur, drawings 9 Cash 10 Depreciation...
The following list includes temporary accounts from the December 31 adjusted trial balance of Emiko Co. Use these normal account balances to journalize closing entries. Credit Debit $ 44,000 $573,000 Dividends Sales Sales returns and allowances Sales discounts Cost of goods sold Sales salaries expense Utilities expense Selling expenses Administrative expenses 19,700 6,100 234,000 59,000 20,500 41,500 116,000 View transaction list X 1 Record closing of credit balances in temporary accounts. > 2 Record closing of debit balances in temporary...
Solev this problem by using periodic format
TRITON DEPARTMENT STORE Adjusted Trial Balance December 31, 2018 $ Account Title Cash Accounts Receivable Merchandise Inventory (beginning) Office Supplies Furniture Accumulated Depreciation Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Balance Debit Credit 8,200 84,600 37,800 850 86,000 $ 18,500 29,400 2,300 14,900 36,000 60,000 22,850 88,600 374,000 295,000 Dividends Sales Revenue Purchases Purchase Returns and Allowances Purchase Discounts Freight in Selling Expense Administrative Expense Interest...
The adjusted trial balance of Pronghorn Wholesale Inc.
contained the following accounts at December 31, the company’s year
end:
PRONGHORN WHOLESALE INC.
Adjusted Trial Balance
December 31, 2018
Debit
Credit
Cash
$12,900
Accounts receivable
18,000
Prepaid insurance
2,600
Inventory
105,500
Supplies
6,300
Land
129,600
Buildings
217,300
Accumulated depreciation—buildings
$92,400
Equipment
96,500
Accumulated depreciation—equipment
33,300
Accounts payable
61,600
Unearned revenue
9,000
Income tax payable
3,900
Bank loan payable
97,400
Common shares
51,000
Retained earnings
142,700
Sales
1,098,700
Sales returns and allowances...
The adjusted trial balance of Blue Spruce Wholesale Inc.
contained the following accounts at December 31, the company’s year
end:
Question 4 The adjusted trial balance of Blue Spruce Wholesale Inc. contained the following accounts at December 31, the company's year end: Credit BLUE SPRUCE WHOLESALE INC. Adjusted Trial Balance December 31, 2018 Debit Cash $12,900 Accounts receivable 17,800 Prepaid insurance 2,200 Inventory 103,900 Supplies 5,700 Land 128,500 Buildings 217,000 Accumulated depreciation-buildings Equipment 95,800 Accumulated depreciation-equipment Accounts payable Unearned revenue...
PRACTICE PROBLEM - PERIODIC Adjustment Data: For the Year Ended December 31, 2014 1) A physical merchandise inventory taken on December 31 amounted to $8,000 2) Accrued Salesman Salary, $7,000 3) The store machinery purchased has an estimated useful life of 5 years 4) Unusued office supplies at year end $3,000. Required a) Prepare Worksheet as of December 31, 2014 - Place accounts in Financial Statement Order d) Prepare All Financial Statements (Income Statement, Capital Statement, Balance Sheet) e) Prepare...
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