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d) using T accounts, Post the entries for (a) and (c) above
and indicate the adjusted...
B: C: Post to the Ledger Accounts D: Prepare Closing entries Presented below is the trial...
B:
C:
Post to the Ledger Accounts
D:
Prepare Closing entries
Presented below is the trial balance of the Sheridan Golf Club, Inc. as of December 31. The books are closed annually on December 31. Credit $1,200 34,927 SHERIDAN GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit Cash $18,820 Accounts Receivable 13,200 Allowance for Doubtful Accounts Prepaid Insurance 9,090 Land 374,500 Buildings 150,000 Accumulated Depreciation-Buildings Equipment 166,400 Accumulated Depreciation-Equipment Common Stock Retained Earnings Dues Revenue Green Fees Revenue Rent Revenue...
Pina Colada Ltd. has accounts receivable of $232,100 and an unadjusted debit balance in its allowance...
Pina Colada Ltd. has accounts receivable of $232,100 and an unadjusted debit balance in its allowance for doubtful accounts of $610 at March 31, 2021. An analysis of the accounts receivable shows these amounts: Month of Sale March (0-30) February (31-60) January (61-90) October-December (over 90) Amount $150,300 24,100 32,700 25,000 The company's percentage estimates of its uncollectible accounts are as follows: Number of Days Outstanding 0-30 31-60 61-90 Over 90 Estimated % Uncollectible 1% 10% 30% 60% Prepare an...
(b) Prepare the adjusting entries required on December 31, 2021 and 2022. (List all debit entries...
(b) Prepare the adjusting entries required on December 31, 2021 and 2022. (List all debit entries before credit entries. Credit account titles are automatically intended when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31, 2021 Dec. 31, 2022 e Textbook and Media List of Accounts Stre Attempts of 15sed Current Attempt in Progress On...
CRANE ENGINEERING Trial Balance December 31, 2021 Debit Credit Cash $8,300 Accounts receivable 6,650 Supplies 5,050...
CRANE ENGINEERING Trial Balance December 31, 2021 Debit Credit Cash $8,300 Accounts receivable 6,650 Supplies 5,050 Prepaid insurance 7,560 Notes receivable 11,500 Equipment 27,400 Accumulated depreciation equipment $8,220 Accounts payable 4,000 H. Duguay, capital 38,240 H. Duguay, drawings 53,500 Service revenue 109,000 Salaries expense 39,500 $159,460 $159,460 Additional information: 1. Services of $10,350 was provided but unrecorded and uncollected as at December 31, 2021. 2. On June 1, the company purchased a one-year insurance policy. 3. Depreciation on the equipment...
Brief Exercise 12-2 On January 1, 2018, Marshall Ltd. purchased $221,000 of 9 , 10-year bonds...
Brief Exercise 12-2 On January 1, 2018, Marshall Ltd. purchased $221,000 of 9 , 10-year bonds at face value (100) with the intention of selling the bonds early the next year. Interest is received semi-annually only 1 and January 1. At December 31, 2018, which is the company's fiscal year end, the bonds were trading in the market at 95 (this means 95% of maturity value) Using the fair value through profit or loss model, prepare the journal entry to...
Thank you. thumbs up! Exercise 5-06 a-b The adjusted trial balance of Tsai Company shows the...
Thank you. thumbs up!
Exercise 5-06 a-b The adjusted trial balance of Tsai Company shows the following data pertaining to sales at the end of its fiscal year October 31, 2020: Sales Revenue $820,000, Freight-Out $16,000, Sales Returns and Allowances $25,000, and Sales Discounts $13,000. Prepare the sales section of the income statement. Tsai Company Income Statement (Partial) Prepare separate closing entries for (1) sales revenue, and (2) the contra accounts to sales revenue. (Credit account titles are automatically indented...
CALCULATOR PRINTER VERS Exercise 15-03a-c On January 1, 2020, Crane Company issued $348,000, 5%, 5-year bonds...
CALCULATOR PRINTER VERS Exercise 15-03a-c On January 1, 2020, Crane Company issued $348,000, 5%, 5-year bonds at face value. Interest is payable annually on January 1. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the accrual of interest on December...
Carla Vista Copaid $11.600 to purchase equipment on January 1, 2021. Carla Vista Co has a...
Carla Vista Copaid $11.600 to purchase equipment on January 1, 2021. Carla Vista Co has a December 31 fiscal year end and uses straight-line depreciation. The company estimates the equipment will have a 4-year useful life. Prepare the journal entry to record the purchase of the equipment on January 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for...
Sunland Advertising Company's trial balance at December 31 shows Supplies 56,900 and Supplies Experse $0 On...
Sunland Advertising Company's trial balance at December 31 shows Supplies 56,900 and Supplies Experse $0 On December 31, there are $2,800 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually Credit Date Account Titles and Explanation Debit Dec. 31 Supplies Supplies Expense...
On July 1, 2021. Blossom Company bursa three-year insurance policy for $15,300. Blossom Company has a...
On July 1, 2021. Blossom Company bursa three-year insurance policy for $15,300. Blossom Company has a December 31 year and Journalize the purchase of the insurance policy. Credit accountities are automatically indented when amount is entered. Do not inden manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit July 1 e Textbook and Media List of Accounts Prepare the year-end adjusting entry for the...
B:
C:
Post to the Ledger Accounts
D:
Prepare Closing entries
Presented below is the trial balance of the Sheridan Golf Club, Inc. as of December 31. The books are closed annually on December 31. Credit $1,200 34,927 SHERIDAN GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit Cash $18,820 Accounts Receivable 13,200 Allowance for Doubtful Accounts Prepaid Insurance 9,090 Land 374,500 Buildings 150,000 Accumulated Depreciation-Buildings Equipment 166,400 Accumulated Depreciation-Equipment Common Stock Retained Earnings Dues Revenue Green Fees Revenue Rent Revenue...
Pina Colada Ltd. has accounts receivable of $232,100 and an unadjusted debit balance in its allowance for doubtful accounts of $610 at March 31, 2021. An analysis of the accounts receivable shows these amounts: Month of Sale March (0-30) February (31-60) January (61-90) October-December (over 90) Amount $150,300 24,100 32,700 25,000 The company's percentage estimates of its uncollectible accounts are as follows: Number of Days Outstanding 0-30 31-60 61-90 Over 90 Estimated % Uncollectible 1% 10% 30% 60% Prepare an...
(b) Prepare the adjusting entries required on December 31, 2021 and 2022. (List all debit entries before credit entries. Credit account titles are automatically intended when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31, 2021 Dec. 31, 2022 e Textbook and Media List of Accounts Stre Attempts of 15sed Current Attempt in Progress On...
CRANE ENGINEERING Trial Balance December 31, 2021 Debit Credit Cash $8,300 Accounts receivable 6,650 Supplies 5,050 Prepaid insurance 7,560 Notes receivable 11,500 Equipment 27,400 Accumulated depreciation equipment $8,220 Accounts payable 4,000 H. Duguay, capital 38,240 H. Duguay, drawings 53,500 Service revenue 109,000 Salaries expense 39,500 $159,460 $159,460 Additional information: 1. Services of $10,350 was provided but unrecorded and uncollected as at December 31, 2021. 2. On June 1, the company purchased a one-year insurance policy. 3. Depreciation on the equipment...
Brief Exercise 12-2 On January 1, 2018, Marshall Ltd. purchased $221,000 of 9 , 10-year bonds at face value (100) with the intention of selling the bonds early the next year. Interest is received semi-annually only 1 and January 1. At December 31, 2018, which is the company's fiscal year end, the bonds were trading in the market at 95 (this means 95% of maturity value) Using the fair value through profit or loss model, prepare the journal entry to...
Thank you. thumbs up!
Exercise 5-06 a-b The adjusted trial balance of Tsai Company shows the following data pertaining to sales at the end of its fiscal year October 31, 2020: Sales Revenue $820,000, Freight-Out $16,000, Sales Returns and Allowances $25,000, and Sales Discounts $13,000. Prepare the sales section of the income statement. Tsai Company Income Statement (Partial) Prepare separate closing entries for (1) sales revenue, and (2) the contra accounts to sales revenue. (Credit account titles are automatically indented...
CALCULATOR PRINTER VERS Exercise 15-03a-c On January 1, 2020, Crane Company issued $348,000, 5%, 5-year bonds at face value. Interest is payable annually on January 1. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the accrual of interest on December...
Carla Vista Copaid $11.600 to purchase equipment on January 1, 2021. Carla Vista Co has a December 31 fiscal year end and uses straight-line depreciation. The company estimates the equipment will have a 4-year useful life. Prepare the journal entry to record the purchase of the equipment on January 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for...
Sunland Advertising Company's trial balance at December 31 shows Supplies 56,900 and Supplies Experse $0 On December 31, there are $2,800 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually Credit Date Account Titles and Explanation Debit Dec. 31 Supplies Supplies Expense...
On July 1, 2021. Blossom Company bursa three-year insurance policy for $15,300. Blossom Company has a December 31 year and Journalize the purchase of the insurance policy. Credit accountities are automatically indented when amount is entered. Do not inden manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit July 1 e Textbook and Media List of Accounts Prepare the year-end adjusting entry for the...
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