Homework Answers
5. TOTAL LIABILITIES = TOTAL ASSETS - (SHARE CAPITAL + RETAINED EARNINGS)
= $9,500,000 - (3,500,000 + 4,000,000)
= $9,500,000 - $ 7,500,000 = $ 2,000,000
6 correct answer is d
EQUIPMENT 2000
SUPPLIES 400
ACCOUNTS PAYABLE 2400
7 correct answer is d
JOURNALIZING
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explain each please , thank you 5. As of December 31, 2020, Dolce & Gabanna Inc. had assets of €9,500,000,...
Answer instructions a-f Prepare the adjusting entries December 31, 2020. P3.5A (LO 2, 3, 4 an...
Answer instructions a-f
Prepare the adjusting entries December 31, 2020. P3.5A (LO 2, 3, 4 an ancial Statement on November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. No. 101 112 126 153 Cash Accounts Receivable Supplies Equipment Debit $ 2,400 4,250 1.800 12,000 154 201 209 212 301 Credit Accumulated Depreciation Equipment S2,000 Accounts Payable 2.600 Uncamned Service Revenue 1,200 Salaries and Wages Payable 700 Owner's Capital 13,950 $20.450 $20,450 During November, the following...
Softbyte Inc. Balance Sheet December 31, 2016 Assets Cash  
Softbyte Inc. Balance Sheet December 31, 2016 Assets Cash $7,000 Accounts Receivable 6,000 Supplies 2,000 Equipment 10,000 Total Assets $25,000 Liabilities & Equity Accounts Payable $3,000 Common Stock 20,000 Retained Earnings 2,000 Total Liabilities & Equity $25,000 Open the balances in the general ledger (T-accounts). Post the journal entries from the general journal to the general ledger (T-accounts). Prepare the four financial statements: Income Statement,...
Please explain your answer. Thank you. Note: Please explain to question C why they have 400....
Please explain your answer. Thank you.
Note: Please explain to question C why they have 400. I give you
the picture.
Learning Objective 3 3. Unearned Revenue bal. $800 CR E3-24 Journalizing adjusting entries and posting to T-accounts The accounting records of Mackay Architects include the following selected, unadjusted balances at March 31: Accounts Receivable, $1,500; Office Supplies, $700; Prepaid Rent, $2,240; Equipment, $8,000; Accumulated Depreciation Equipment, $0; Salaries Payable, $0; Unearned Revenue, $900; Service Revenue, $4,100; Salaries Expense, $800;...
SKY COMPANY INC. Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Cr. No....
SKY COMPANY INC. Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Cr. No. Account Titles Dr. 101 Cash 3,100 112 Accounts Receivable 10,800 126 Supplies 1,500 130 Prepaid Insurance 2,000 151 Office Equipment 24,000 152 Accumulated Depreciation Office Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 7,000 400 Service Revenue 610 Advertising Expense 8,400 631 Supplies Expense 4,000 711 Depreciation Expense 722 Insurance Expense...
Problem 3.39 Journalizing, Posting, and Preparing a Trial Balance Listed for each account Jersey Enterprises uses...
Problem 3.39 Journalizing, Posting, and Preparing a Trial Balance Listed for each account Jersey Enterprises uses the following general ledger accounts in its accounting system. Listed for each is its balance as of January 1, 2020. Identify each amount as a debit balance or a credit balance, making sure that Total Debits - Total Credits. Cash Accounts Receivable Supplies on Hand (Asset) Office Equipment Accumulated Depreciation Office Equipmt Accounts Payable Common Stock Retained Earnings Fee Revenue Selling Expense Salary Expense...
i want know this probelum thank you so much :) On December 1, 2020, the account...
i want know this probelum
thank you so much :)
On December 1, 2020, the account balances of Blue Land, Inc. were as follows. HOMEWORK No. Credit Debit No. 101 Cash $10,300 $ 9,500 158 Accumulated Depreciation- Equipment Accounts Payable 12,800 22,300 201 112 Accounts Receivable 126 Supplies 157 Equipment 6,000 70,000 209 212 311 320 Unearned Service Revenue Salaries and Wages Payable Share Capital-Ordinary Retained Earnings 6,000 8,200 40,000 30,500 $107,800 $107,800 During December, the following summary transactions were...
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No....
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles 101 Cash 12 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum DepreciationOffice Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense 8,100 10,800 1,500 2,000...
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No....
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles 101 Cash 12 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum DepreciationOffice Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense 8,100 10,800 1,500 2,000...
Windsor, Inc. Trial Balance May 31, 2020 Account Number Credit 101 Cash 112 126 Debit $4,500...
Windsor, Inc. Trial Balance May 31, 2020 Account Number Credit 101 Cash 112 126 Debit $4,500 6,200 2,000 2,400 10,800 130 149 201 Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense 209 $ 4,500 2,000 16,200 7,500 311 400 726 729 3,300 1,000 $30,200 $30,200 In addition to those accounts listed on the trial balance, the chart of accounts for Windsor, Inc. also contains the following accounts...
The following information is provided for JPT Welding, Inc. at December 31, 2020: Account Balances Balance...
The following information is provided for JPT Welding, Inc. at December 31, 2020: Account Balances Balance ($) Accounts Payable 5,700 Accounts Receivable 7,350 Additional Paid-in-Capital 16,680 Cash 45,000 Common Stock ($1 par value) 15,000 Deferred Revenue 3,000 Interest Payable 350 Interest Receivable 450 Investments 10,000 Land 5,000 Long-Term Notes Payable 3,430 Prepaid Expenses 600 Property and Equipment 9,600 Retained Earnings 23,560 Short-Term Notes Payable 1,820 Wages Payable 8,460 JPT entered into the following transactions during January 2020: Sold 1,200 shares...
Answer instructions a-f
Prepare the adjusting entries December 31, 2020. P3.5A (LO 2, 3, 4 an ancial Statement on November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. No. 101 112 126 153 Cash Accounts Receivable Supplies Equipment Debit $ 2,400 4,250 1.800 12,000 154 201 209 212 301 Credit Accumulated Depreciation Equipment S2,000 Accounts Payable 2.600 Uncamned Service Revenue 1,200 Salaries and Wages Payable 700 Owner's Capital 13,950 $20.450 $20,450 During November, the following...
Please explain your answer. Thank you.
Note: Please explain to question C why they have 400. I give you
the picture.
Learning Objective 3 3. Unearned Revenue bal. $800 CR E3-24 Journalizing adjusting entries and posting to T-accounts The accounting records of Mackay Architects include the following selected, unadjusted balances at March 31: Accounts Receivable, $1,500; Office Supplies, $700; Prepaid Rent, $2,240; Equipment, $8,000; Accumulated Depreciation Equipment, $0; Salaries Payable, $0; Unearned Revenue, $900; Service Revenue, $4,100; Salaries Expense, $800;...
SKY COMPANY INC. Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Cr. No. Account Titles Dr. 101 Cash 3,100 112 Accounts Receivable 10,800 126 Supplies 1,500 130 Prepaid Insurance 2,000 151 Office Equipment 24,000 152 Accumulated Depreciation Office Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 7,000 400 Service Revenue 610 Advertising Expense 8,400 631 Supplies Expense 4,000 711 Depreciation Expense 722 Insurance Expense...
Problem 3.39 Journalizing, Posting, and Preparing a Trial Balance Listed for each account Jersey Enterprises uses the following general ledger accounts in its accounting system. Listed for each is its balance as of January 1, 2020. Identify each amount as a debit balance or a credit balance, making sure that Total Debits - Total Credits. Cash Accounts Receivable Supplies on Hand (Asset) Office Equipment Accumulated Depreciation Office Equipmt Accounts Payable Common Stock Retained Earnings Fee Revenue Selling Expense Salary Expense...
i want know this probelum
thank you so much :)
On December 1, 2020, the account balances of Blue Land, Inc. were as follows. HOMEWORK No. Credit Debit No. 101 Cash $10,300 $ 9,500 158 Accumulated Depreciation- Equipment Accounts Payable 12,800 22,300 201 112 Accounts Receivable 126 Supplies 157 Equipment 6,000 70,000 209 212 311 320 Unearned Service Revenue Salaries and Wages Payable Share Capital-Ordinary Retained Earnings 6,000 8,200 40,000 30,500 $107,800 $107,800 During December, the following summary transactions were...
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles 101 Cash 12 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum DepreciationOffice Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense 8,100 10,800 1,500 2,000...
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles 101 Cash 12 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum DepreciationOffice Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense 8,100 10,800 1,500 2,000...
Windsor, Inc. Trial Balance May 31, 2020 Account Number Credit 101 Cash 112 126 Debit $4,500 6,200 2,000 2,400 10,800 130 149 201 Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense 209 $ 4,500 2,000 16,200 7,500 311 400 726 729 3,300 1,000 $30,200 $30,200 In addition to those accounts listed on the trial balance, the chart of accounts for Windsor, Inc. also contains the following accounts...
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