Homework Answers
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Investment in Not Receivable Supplies $16,000 23.500 5.000 240,000 Prepaid Rent Buildings Accumulated Depreciation-Buildings $135,000 10.200...
The ledger of Blossom Company on July 31, 2022, includes the selected accounts below before adjusting...
The ledger of Blossom Company on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit Investment in Note Receivable $20,000 Supplies 24,000 Prepaid Rent 2,600 Buildings 300,000 Accumulated Depreciation-Buildings $130,000 Unearned Service Revenue 11,600 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 12% per year. 2. Supplies on hand at the end of the month totaled $15,400. 3. The...
3. Depreciation Expense Accumulated Depreciation - Buildings (To record depreciation on buildings) Depreciation Expense Accumulated Depreciation...
3. Depreciation Expense Accumulated Depreciation - Buildings (To record depreciation on buildings) Depreciation Expense Accumulated Depreciation - Equipment (To record depreciation on equipment) 4. Unearned Revenue Rent Revenue (Adjusting entry for rent revenue received for September) (Adjusting entry for unearned rent revenue earned during August) 5. 6. 7. Prepare an adjusted trial balance as at August 31. Monty Corp. Adjusted Trial Balance Debit Credit $ $ Monty Corp. Trial Balance August 31, 2020 Credit Debit $6,900 3,000 1,950 19,500 148,000...
Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture...
Accounts Payable
Accounts Receivable
Accumulated Depreciation - Buildings
Accumulated Depreciation - Equipment
Accumulated Depreciation - Furniture
Accumulated Depreciation - Vehicles
Advertising Expense
Bank Loan Payable
Bank Loan Receivable
Buildings
Cash
Common Shares
Depreciation Expense
Dividends Declared
Equipment
Fees Earned
Furniture
Income Summary
Income Tax Expense
Income Tax Payable
Income Tax Receivable
Insurance Expense
Insurance Revenue
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Land
Mortgage Payable
No Entry
Notes Receivable
Office Expense
Prepaid Advertising
Prepaid Expense
Prepaid Insurance
Prepaid Rent...
The ledger of Pharoah Company on July 31, 2022, includes the selected accounts below before adjusting...
The ledger of Pharoah Company on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit $24,000 Investment in Note Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings Unearned Service Revenue 24,000 4,200 290,000 $120,000 11,900 An analysis of the company's accounts shows the following. 1. 2. 3. 4. The investment in the notes receivable earns interest at a rate of 12% per year. Supplies on hand at the end of the month totaled $16,800....
Cash Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Rent...
Cash Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue 6. Salaries of $710 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. DC not indent manually.)...
The ledger of Sunland Company on July 31, 2022, includes the selected accounts below before adjusting...
The ledger of Sunland Company on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit $22,000 Investment in Note Receivable Supplies 21,000 2,800 Prepaid Rent Buildings 290,000 Accumulated Depreciation-Buildings $150,000 Unearned Service Revenue 10,500 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 6% per year. Supplies on hand at the end of the month totaled $16,600. 2. 3. The...
The ledger of Sheffield Corp. on July 31, 2022, includes the selected accounts below before adjusting...
The ledger of Sheffield Corp. on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit Investment in Note Receivable $18,000 Supplies 24,000 Prepaid Rent 3,400 Buildings 270,000 Accumulated Depreciation-Buildings $135,000 Unearned Service Revenue 11,000 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 12% per year. 2. Supplies on hand at the end of the month totaled $17,800. 3. The...
Exercise 4-12 The ledger of Windsor, Inc. on July 31, 2022, includes the selected accounts below...
Exercise 4-12 The ledger of Windsor, Inc. on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Investment in Note Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings Unearned Service Revenue Debit Credit $24,000 23,500 3,200 280,000 $140,000 11,900 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 12% per year. 2. Supplies on hand at the end of the month totaled $15,200....
Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly. (If no...
Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly. (If no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically Indented when the amount is entered. Do not indent manually.) Debit Credit No. Date Account Titles and Explanation 1. July 31 2. July 31 3 July 31 4. July 31 5. July 31 July 31 7. July 31 The ledger of Kingbird, Inc....
The ledger of Blue Spruce Corp.on July 31, 2022, indudes the selected accounts below before adjusting...
The ledger of Blue Spruce Corp.on July 31, 2022, indudes the selected accounts below before adjusting entries have been prepared Credit Investment in Note Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings Unearned Service Revenue Debit $18,000 21,500 3,600 230,000 $150,000 10,500 An analysis of the company's accounts shows the following, 1. The investment in the notes receivable earns interest at a rate of 6% per year. 2 Supplies on hand at the end of the month totaled $15.200 3. The...
The ledger of Blossom Company on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit Investment in Note Receivable $20,000 Supplies 24,000 Prepaid Rent 2,600 Buildings 300,000 Accumulated Depreciation-Buildings $130,000 Unearned Service Revenue 11,600 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 12% per year. 2. Supplies on hand at the end of the month totaled $15,400. 3. The...
3. Depreciation Expense Accumulated Depreciation - Buildings (To record depreciation on buildings) Depreciation Expense Accumulated Depreciation - Equipment (To record depreciation on equipment) 4. Unearned Revenue Rent Revenue (Adjusting entry for rent revenue received for September) (Adjusting entry for unearned rent revenue earned during August) 5. 6. 7. Prepare an adjusted trial balance as at August 31. Monty Corp. Adjusted Trial Balance Debit Credit $ $ Monty Corp. Trial Balance August 31, 2020 Credit Debit $6,900 3,000 1,950 19,500 148,000...
Accounts Payable
Accounts Receivable
Accumulated Depreciation - Buildings
Accumulated Depreciation - Equipment
Accumulated Depreciation - Furniture
Accumulated Depreciation - Vehicles
Advertising Expense
Bank Loan Payable
Bank Loan Receivable
Buildings
Cash
Common Shares
Depreciation Expense
Dividends Declared
Equipment
Fees Earned
Furniture
Income Summary
Income Tax Expense
Income Tax Payable
Income Tax Receivable
Insurance Expense
Insurance Revenue
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Land
Mortgage Payable
No Entry
Notes Receivable
Office Expense
Prepaid Advertising
Prepaid Expense
Prepaid Insurance
Prepaid Rent...
The ledger of Pharoah Company on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit $24,000 Investment in Note Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings Unearned Service Revenue 24,000 4,200 290,000 $120,000 11,900 An analysis of the company's accounts shows the following. 1. 2. 3. 4. The investment in the notes receivable earns interest at a rate of 12% per year. Supplies on hand at the end of the month totaled $16,800....
Cash Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue 6. Salaries of $710 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. DC not indent manually.)...
The ledger of Sunland Company on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit $22,000 Investment in Note Receivable Supplies 21,000 2,800 Prepaid Rent Buildings 290,000 Accumulated Depreciation-Buildings $150,000 Unearned Service Revenue 10,500 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 6% per year. Supplies on hand at the end of the month totaled $16,600. 2. 3. The...
The ledger of Sheffield Corp. on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit Investment in Note Receivable $18,000 Supplies 24,000 Prepaid Rent 3,400 Buildings 270,000 Accumulated Depreciation-Buildings $135,000 Unearned Service Revenue 11,000 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 12% per year. 2. Supplies on hand at the end of the month totaled $17,800. 3. The...
Exercise 4-12 The ledger of Windsor, Inc. on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Investment in Note Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings Unearned Service Revenue Debit Credit $24,000 23,500 3,200 280,000 $140,000 11,900 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 12% per year. 2. Supplies on hand at the end of the month totaled $15,200....
Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly. (If no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically Indented when the amount is entered. Do not indent manually.) Debit Credit No. Date Account Titles and Explanation 1. July 31 2. July 31 3 July 31 4. July 31 5. July 31 July 31 7. July 31 The ledger of Kingbird, Inc....
The ledger of Blue Spruce Corp.on July 31, 2022, indudes the selected accounts below before adjusting entries have been prepared Credit Investment in Note Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings Unearned Service Revenue Debit $18,000 21,500 3,600 230,000 $150,000 10,500 An analysis of the company's accounts shows the following, 1. The investment in the notes receivable earns interest at a rate of 6% per year. 2 Supplies on hand at the end of the month totaled $15.200 3. The...
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