Depreciation for the current year includes Equipment, $980. The Accumulated Depreciation - Equipment unadjusted balance as of December 31 is $7,700.
Homework Answers
| Depreciation Expense - Equipment | Accumulated Depreciation - Equipment | ||||||||
| Unadj. Bal | 0 | Dec-31 | $ 7,700 | Unadj. Bal | |||||
| Accumulated Depreciation - Equipment | $ 980 | $ 980 | Depreciation Expense - Equipment | ||||||
| Bal. | $ 980 | $ 8,680 | Bal. | ||||||
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Depreciation for the current year includes Equipment, $980. The Accumulated Depreciation - Equipment unadjusted balance as...
Activity 4.a - Using T-accounts to Analyze Adjustments Fill in the t-accounts for each situation and...
Activity 4.a - Using T-accounts to Analyze Adjustments
Fill in the t-accounts for each situation and label each
transaction as Deferrals/Prepaid, Accrual, or Depreciation. Use
Unadj. Bal. as the label for the opening balance of each account.
Calculate the adjusted balance and use a Bal. posting reference to
show the ending balance of each account. Enter each transaction on
the first available line in the T-Account.
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid, Accrual,...
A. Prepare an unadjusted trial balance for LYM, Inc as of December 31,2018 Begin by posting...
A.
Prepare an unadjusted trial balance for LYM, Inc as of December
31,2018
Begin by posting the adjusting journal entries to the t
accounts to obtain the adjusted balances. T accounts have been
opened using th balances from the unadjusted trial balance. Use the
adjusting journal entry numbers AJE1-AJE4 as posting references to
post each adjusting entry to the relevant accounts, then compute
the adjusted ending balance of each account.
B. Prepare an adjusted trial balance for LYM, inc as...
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate...
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. Depreciation for the current year includes Equipment, $4,300. The Accumulated Depreciation - Equipment unadjusted balance as of December 31 is $7,700. Adjustment Type: AccrualDeferrals/Prepaids Depreciation Expense - Equipment Nov. 1Nov. 15Dec. 1Dec. 31 Nov. 1Nov. 15Dec. 1Dec. 31 Nov. 1Nov. 15Dec. 1Dec. 31 Nov. 1Nov. 15Dec. 1Dec....
Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts....
Post the balance from the unadjusted trial balance and the
adjusting entries in to the T-accounts.
[The following information applies to the questions
displayed below.]
Wells Technical Institute (WTI), a school owned by Tristana Wells,
provides training to individuals who pay tuition directly to the
school. WTI also offers training to groups in off-site locations.
Its unadjusted trial balance as of December 31, 2018, follows. WTI
initially records prepaid expenses and unearned revenues in balance
sheet accounts. Descriptions of items...
Helpppp......I think I am doing this so wrong. Fill in the t-accounts for each situation and...
Helpppp......I think I am doing this so wrong.
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. Employees earned $2,900 in salaries that wll be paid next month. The Salaries Expense unadjusted balance as of December 31 is $5,700 Adjustment Type Accrual Salaries Expense Salaries Payable Dec. 31 2,900 8600 Dec. 31 Dec. 31 2,900 2,900...
At December 31, the unadjusted trial balance of H&R Tacks reports Equipment of $25,000 and zero...
At December 31, the unadjusted trial balance of H&R Tacks reports Equipment of $25,000 and zero balances in Accumulated Depreciation and Depreciation Expense. Depreciation for the period is estimated to be $5,000. Required: 1. Prepare the adjusting journal entry on December 31. 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the...
If Equipment has an unadjusted balance of $4600 and Accumulated Depreciation's unadjusted balance at December 30,...
If Equipment has an unadjusted balance of $4600 and Accumulated Depreciation's unadjusted balance at December 30, 2022 and estimated annual depreciation is $380, the year-end adjustment would contain a(n): O decrease to Equipment for $380. O increase to Accumulated Depreciation, Equipment for $380. decrease to Accumulated Depreciation, Equipment for $380. O decrease to Depreciation Expense, Equipment for $380.
Requirement 2. The accounts listed in the unadjusted trial balance, together with their unadjusted balances as...
Requirement 2. The accounts listed in the
unadjusted trial balance, together with their unadjusted balances
as of
December 31, 2018 have been opened for you in T-account form.
Post the adjusting entries to T-accounts using the adjustment
letters (a, b, c, etc.) as posting references. Determine the
ending balances for all T-accounts (including any that may not be
affected by any of the adjusting entries) on December 31,
2018.
Calculate each accounts balance and enter the balance, along
with a...
Required information Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2,...
Required information Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2, P3 The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of...
Required information Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO P1,...
Required information Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2, P3 The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018 follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of...
Activity 4.a - Using T-accounts to Analyze Adjustments
Fill in the t-accounts for each situation and label each
transaction as Deferrals/Prepaid, Accrual, or Depreciation. Use
Unadj. Bal. as the label for the opening balance of each account.
Calculate the adjusted balance and use a Bal. posting reference to
show the ending balance of each account. Enter each transaction on
the first available line in the T-Account.
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid, Accrual,...
A.
Prepare an unadjusted trial balance for LYM, Inc as of December
31,2018
Begin by posting the adjusting journal entries to the t
accounts to obtain the adjusted balances. T accounts have been
opened using th balances from the unadjusted trial balance. Use the
adjusting journal entry numbers AJE1-AJE4 as posting references to
post each adjusting entry to the relevant accounts, then compute
the adjusted ending balance of each account.
B. Prepare an adjusted trial balance for LYM, inc as...
Post the balance from the unadjusted trial balance and the
adjusting entries in to the T-accounts.
[The following information applies to the questions
displayed below.]
Wells Technical Institute (WTI), a school owned by Tristana Wells,
provides training to individuals who pay tuition directly to the
school. WTI also offers training to groups in off-site locations.
Its unadjusted trial balance as of December 31, 2018, follows. WTI
initially records prepaid expenses and unearned revenues in balance
sheet accounts. Descriptions of items...
Helpppp......I think I am doing this so wrong.
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. Employees earned $2,900 in salaries that wll be paid next month. The Salaries Expense unadjusted balance as of December 31 is $5,700 Adjustment Type Accrual Salaries Expense Salaries Payable Dec. 31 2,900 8600 Dec. 31 Dec. 31 2,900 2,900...
At December 31, the unadjusted trial balance of H&R Tacks reports Equipment of $25,000 and zero balances in Accumulated Depreciation and Depreciation Expense. Depreciation for the period is estimated to be $5,000. Required: 1. Prepare the adjusting journal entry on December 31. 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the...
If Equipment has an unadjusted balance of $4600 and Accumulated Depreciation's unadjusted balance at December 30, 2022 and estimated annual depreciation is $380, the year-end adjustment would contain a(n): O decrease to Equipment for $380. O increase to Accumulated Depreciation, Equipment for $380. decrease to Accumulated Depreciation, Equipment for $380. O decrease to Depreciation Expense, Equipment for $380.
Requirement 2. The accounts listed in the
unadjusted trial balance, together with their unadjusted balances
as of
December 31, 2018 have been opened for you in T-account form.
Post the adjusting entries to T-accounts using the adjustment
letters (a, b, c, etc.) as posting references. Determine the
ending balances for all T-accounts (including any that may not be
affected by any of the adjusting entries) on December 31,
2018.
Calculate each accounts balance and enter the balance, along
with a...
Required information Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2, P3 The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of...
Required information Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2, P3 The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018 follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of...
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