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on give 3-31 Closing Accounts and Preparing Financial Statements Bonfiglio...
I have the entirety of the question done correctly, I just need help preparing my closing statements that I posted pict...
I have the entirety of the question done correctly, I just need
help preparing my closing statements that I posted pictures of (13
and 14). I provided the complete trial balance in case if that's of
any assistance. Thank you so much for your help and let me know if
you need any other information!
On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances: Credit Debit $ 12,800 37,200 153,600 83,300 136,000 Accounts Cash...
C4-2 From Recording Transactions including Adjusting Journal Entries to Preparing Financial Statements and Closing Journal Entries...
C4-2 From Recording Transactions including Adjusting Journal Entries to Preparing Financial Statements and Closing Journal Entries (Chapters 2.2 and 4 LO 2-39.339.410.429.439.449.459.469 Brothers Harry and Herman Hauserday began operations of the machine shop Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows the amounts are rounded to thousands of dollars to simply Account Titles Debt Credit 53 Accounts Receivable Supplies Land Equipe Accumulated Depreciation Software 15 Accumulated Amortization...
please i need help completing this table thank you Refer to the following financial statements for...
please i need help completing this table thank you
Refer to the following financial statements for Crosby Corporation: CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2 3,990,000 2,480,000 1,510,000 744,000 261,000 505,000 87,300 417,700 223,000 194,700 10,000 184,700 150,000 1.23 Sales Cost of goods sold Gross profit Selling and administrative expense Depreciation expense Operating income Interest expense Earnings before taxes Taxes Earnings after taxes Preferred stock dividends Earnings available to common stockholders Shares outstanding Earnings per share...
please answer parts 2,6,7 ONLY (i do not need 1,3,4,5 solved as i have the solutions...
please answer parts 2,6,7 ONLY (i do not need
1,3,4,5 solved as i have the solutions and i attached part 1 in the
question) please when solving 2,6,7 answer in reference to the
other answered parts (very important)
1-
a) Assuption Made for Adjusting Jounal
Entries.
1) Art Supplies on is hand is $4,700
2) Depreciation expense on Building is $11,000 and Printing
equipment is $4,000
3) Allowanc for Doubtfule Account for the year is $7,300
4) Interest on Notes...
Preparing Financial Statements and Closing Entries Beneish Company has the following account balances at December 31,...
Preparing Financial Statements and Closing Entries Beneish Company has the following account balances at December 31, the end of its fiscal year. Debit Credit Cash $ 8,000 Accounts receivable 6,500 Equipment 78,000 Accumulated depreciation $14,000 Notes payable 10,000 Common stock 43,000 Retained earnings 20,600 Dividends 8,000 Service fees earned 75,000 Rent expense 18,000 Salaries expense 37,100 Depreciation expense 7,000 Totals $162,600 $162,600 (a) Prepare Beneish Corporation's income statement and statement of stockholders' equity for year-end December 31, and its balance...
Problem 3-8A Preparing closing entries, financial statements, and ratios LO A1, A2, P3, P4 The adjusted...
Problem 3-8A Preparing closing entries, financial statements, and ratios LO A1, A2, P3, P4 The adjusted trial balance for Tybalt Construction as of December 31, 2018, follows. Credit $ Debit 7,500 25,000 9,200 8,700 60,000 $ 30,000 153,000 51,000 60,280 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2018 No. Account Title 101 Cash 104 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable 203 Interest payable...
Using the following information, I need help posting the closing entries to the T-accounts (using "clos."...
Using the following information, I need help posting the closing
entries to the T-accounts (using "clos." and the correspondjng
number as shown in the journal entry as posting references) as well
as preparing a post-closing trial balance.
L16750 70 39,60 E 39,6 Less: (360) Acum, Depri. Truck (361) Total Plant assets 39, 400 E R _362) Total Assets Liabilities (363) Current liabilities (384) salaries pagable (365) Uncned revenue (386) total liabilities Stockholders' Equity (367) Commons to 25100 (368) Rtained earnings...
Please explain your answer. Thank you. Learning Objectives 1, 3, 6 P4-30A Preparing financial statements including...
Please explain your answer. Thank you.
Learning Objectives 1, 3, 6 P4-30A Preparing financial statements including a classified balance sheet in report form, preparing closing entries, and using the current ratio to evaluate a company The adjusted trial balance of Boston Irrigation System at December 31, 2018, follows: 2. Ending Retained Earnings $68,200 BOSTON IRRIGATION SYSTEM Adjusted Trial Balance December 31, 2018 Balance Debit Credit $ 11,800 46,000 29,500 6,300 63,000 $ 25,000 28,000 Account Title Cash Accounts Receivable Office...
Ive done all the previous statements. I need help on how to do the post-closing trial...
Ive done all the previous statements.
I need help on how to do the post-closing trial balance for this
question. I've already done the previous statements.
Scenario:
Moonlight Bay Inn is incorporated on January 2, 2017, by its
three owners, each of whom contributes $20,000 in cash in exchange
for shares of stock in the business. In addition to the sale of
stock, the following transactions are entered into during the month
of January:
Requirement #10: Prepare a post-closing trial...
I need help with the question (C). The post-closing trial balance of Sunland Corporation at December 31, 2020, contains...
I need help with the question (C).
The post-closing trial balance of Sunland Corporation at December 31, 2020, contains the following stockholders' equity accounts. Preferred Stock (14,600 shares issued) Common Stock (242,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings $730,000 2,420,000 242,000 383,000 242,000 909,770 A review of the accounting records reveals the following. 1. No errors have been made in recording 2020 transactions or...
I have the entirety of the question done correctly, I just need
help preparing my closing statements that I posted pictures of (13
and 14). I provided the complete trial balance in case if that's of
any assistance. Thank you so much for your help and let me know if
you need any other information!
On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances: Credit Debit $ 12,800 37,200 153,600 83,300 136,000 Accounts Cash...
C4-2 From Recording Transactions including Adjusting Journal Entries to Preparing Financial Statements and Closing Journal Entries (Chapters 2.2 and 4 LO 2-39.339.410.429.439.449.459.469 Brothers Harry and Herman Hauserday began operations of the machine shop Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows the amounts are rounded to thousands of dollars to simply Account Titles Debt Credit 53 Accounts Receivable Supplies Land Equipe Accumulated Depreciation Software 15 Accumulated Amortization...
please i need help completing this table thank you
Refer to the following financial statements for Crosby Corporation: CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2 3,990,000 2,480,000 1,510,000 744,000 261,000 505,000 87,300 417,700 223,000 194,700 10,000 184,700 150,000 1.23 Sales Cost of goods sold Gross profit Selling and administrative expense Depreciation expense Operating income Interest expense Earnings before taxes Taxes Earnings after taxes Preferred stock dividends Earnings available to common stockholders Shares outstanding Earnings per share...
please answer parts 2,6,7 ONLY (i do not need
1,3,4,5 solved as i have the solutions and i attached part 1 in the
question) please when solving 2,6,7 answer in reference to the
other answered parts (very important)
1-
a) Assuption Made for Adjusting Jounal
Entries.
1) Art Supplies on is hand is $4,700
2) Depreciation expense on Building is $11,000 and Printing
equipment is $4,000
3) Allowanc for Doubtfule Account for the year is $7,300
4) Interest on Notes...
Problem 3-8A Preparing closing entries, financial statements, and ratios LO A1, A2, P3, P4 The adjusted trial balance for Tybalt Construction as of December 31, 2018, follows. Credit $ Debit 7,500 25,000 9,200 8,700 60,000 $ 30,000 153,000 51,000 60,280 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2018 No. Account Title 101 Cash 104 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable 203 Interest payable...
Using the following information, I need help posting the closing
entries to the T-accounts (using "clos." and the correspondjng
number as shown in the journal entry as posting references) as well
as preparing a post-closing trial balance.
L16750 70 39,60 E 39,6 Less: (360) Acum, Depri. Truck (361) Total Plant assets 39, 400 E R _362) Total Assets Liabilities (363) Current liabilities (384) salaries pagable (365) Uncned revenue (386) total liabilities Stockholders' Equity (367) Commons to 25100 (368) Rtained earnings...
Please explain your answer. Thank you.
Learning Objectives 1, 3, 6 P4-30A Preparing financial statements including a classified balance sheet in report form, preparing closing entries, and using the current ratio to evaluate a company The adjusted trial balance of Boston Irrigation System at December 31, 2018, follows: 2. Ending Retained Earnings $68,200 BOSTON IRRIGATION SYSTEM Adjusted Trial Balance December 31, 2018 Balance Debit Credit $ 11,800 46,000 29,500 6,300 63,000 $ 25,000 28,000 Account Title Cash Accounts Receivable Office...
Ive done all the previous statements.
I need help on how to do the post-closing trial balance for this
question. I've already done the previous statements.
Scenario:
Moonlight Bay Inn is incorporated on January 2, 2017, by its
three owners, each of whom contributes $20,000 in cash in exchange
for shares of stock in the business. In addition to the sale of
stock, the following transactions are entered into during the month
of January:
Requirement #10: Prepare a post-closing trial...
I need help with the question (C).
The post-closing trial balance of Sunland Corporation at December 31, 2020, contains the following stockholders' equity accounts. Preferred Stock (14,600 shares issued) Common Stock (242,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings $730,000 2,420,000 242,000 383,000 242,000 909,770 A review of the accounting records reveals the following. 1. No errors have been made in recording 2020 transactions or...
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