Homework Answers
| invoice received 12/30 for January temporary workers, included in AP at 12/31 | improperly included in AP |
| invoice dated 1/5 for January security protection .. not included in AP as 12/31 | properly excluded |
| invoice dated 1/20 for cleaning services for the month of December, not included in AP at 12/31 | improperly excluded |
| invoice dated 12/20 for maintenance services and unpaid as of yr end listed in AP at 12/31 | properly included |
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Required information Testing Subsequent Disbursements Read the overview below and complete the activities that follow. A...
Required information (the following information applies to the questions displayed below.) The T account balances for...
Required information (the following information applies to the questions displayed below.) The T account balances for the accounts of Rya's Planning Services as of January 31, 2019 are listed below. Cash Accounts Receivable office Supplies Equipment Accounts Payable Rya Page, Capital Rya Page, Drawing Planning Fees Income Office Supplies Expense Rent Expense Salaries Expense Utilities Expense $22,800 18,800 600 22,000 9,970 29,800 6,980 38,500 390 990 4,989 890 Prepare a Trial Balance as of January 31, 2019. RYA'S PLANNING SERVICES...
Check my w Required information Substantive Procedures for Debt Read the overview below and complete the...
Check my w Required information Substantive Procedures for Debt Read the overview below and complete the activities that follow Debt transactions are often few in number but large in dollar amount. As such, auditors are generally able to substantiate individual transactions rather easily. CONCEPT REVIEW: In an integrated audit of debt, a greater number of transactions are tested using dual purpose tests than for other accounts. Dual purpose tests are tests of both controls and substantive tests done at the...
Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions...
Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions on October 1, 2017. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2017. Santana Rey decided to add a fourth digit with a...
Required information [The following information applies to the questions displayed below.] The general ledger of Jackrabbit...
Required information [The following information applies to the questions displayed below.] The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 46,500 Accounts Receivable 30,700 Land 115,800 Accounts Payable 15,800 Notes Payable (due in 2 years) 35,000 Common Stock 105,000 Retained Earnings 37,200 Totals $ 193,000 $ 193,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $67,400. 2....
Required information [The following information applies to the questions displayed below.] The general ledger of Jackrabbit...
Required information [The following information applies to the questions displayed below.] The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 46,500 Accounts Receivable 30,700 Land 115,800 Accounts Payable 15,800 Notes Payable (due in 2 years) 35,000 Common Stock 105,000 Retained Earnings 37,200 Totals $ 193,000 $ 193,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $67,400. 2....
Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions...
Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions on October 1, 2017. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2017. Santana Rey decided to add a fourth digit with a...
Required information The following information applies to the questions displayed below) The general ledger of Jackrabbit...
Required information The following information applies to the questions displayed below) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Debits $ 52,500 36,700 121.800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Barnings Totals 16,400 41,000 111,000 42,600 $ 211,000 $211,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $73,400. 2. February...
Required information [The following information applies to the questions displayed below.) The general ledger of Jackrabbit...
Required information [The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Debits $ 52,500 36,700 121,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 16,400 41,000 111,000 42,600 $211,000 $ 211,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $ 73,400. 2....
Required information (The following information applies to the questions displayed below.) The general ledger of Jackrabbit...
Required information (The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Debits $ 46,500 30,700 115,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 15,800 35,000 105,000 37,200 $ 193,000 $ 193,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $67,400. 2....
Required information [The following information applies to the questions displayed below.] The following transactions pertain to...
Required information [The following information applies to the questions displayed below.] The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established the business when it acquired $45,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $24,000 cash. Apr. 10 Purchased $3,200 of supplies on account. July 1 Received $24,000 cash in advance for services to be provided over the next year. 20 Paid $1,500 of the accounts...
Required information (the following information applies to the questions displayed below.) The T account balances for the accounts of Rya's Planning Services as of January 31, 2019 are listed below. Cash Accounts Receivable office Supplies Equipment Accounts Payable Rya Page, Capital Rya Page, Drawing Planning Fees Income Office Supplies Expense Rent Expense Salaries Expense Utilities Expense $22,800 18,800 600 22,000 9,970 29,800 6,980 38,500 390 990 4,989 890 Prepare a Trial Balance as of January 31, 2019. RYA'S PLANNING SERVICES...
Check my w Required information Substantive Procedures for Debt Read the overview below and complete the activities that follow Debt transactions are often few in number but large in dollar amount. As such, auditors are generally able to substantiate individual transactions rather easily. CONCEPT REVIEW: In an integrated audit of debt, a greater number of transactions are tested using dual purpose tests than for other accounts. Dual purpose tests are tests of both controls and substantive tests done at the...
Required information The following information applies to the questions displayed below) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Debits $ 52,500 36,700 121.800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Barnings Totals 16,400 41,000 111,000 42,600 $ 211,000 $211,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $73,400. 2. February...
Required information [The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Debits $ 52,500 36,700 121,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 16,400 41,000 111,000 42,600 $211,000 $ 211,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $ 73,400. 2....
Required information (The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Debits $ 46,500 30,700 115,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 15,800 35,000 105,000 37,200 $ 193,000 $ 193,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $67,400. 2....
Required information [The following information applies to the questions displayed below.] The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established the business when it acquired $45,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $24,000 cash. Apr. 10 Purchased $3,200 of supplies on account. July 1 Received $24,000 cash in advance for services to be provided over the next year. 20 Paid $1,500 of the accounts...
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