Homework Answers
| 1) | Supplies | 100 | |
| Accounts payable | 100 | ||
| 2) | Option [d] | ||
| 3) | Salaries and wages experience (5*100*2) | 1000 | |
| Salaries and wages payable | 1000 | ||
| 4) | Option [a] Debit income sumary for $35,000 | ||
| 5) | Option [a] $3500 adjusted debit balance |
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Questions Prepare the necessary journal entry to record the purchase of $100 of supplies on account:...
Journal entry number one record entry to transfer fees income to income summary. Number to record...
Journal entry
number one record entry to transfer fees income to income summary.
Number to record entry to transfer expenses to income summary.
Number three record entry to transfer net income or net loss from
income summary to Capital. Number for record entry to transfer
drawings to Capital account. General ledger post the closing
entries to the owners capital account. Trial balance prepare a
post-closing trial balance
Danos Company's partial worksheet for the month ended December 31, 2019. is shown...
Record the entry to close the dividends account. Record the entry to close the expense accounts...
Record the entry to close the dividends account.
Record the entry to close the expense accounts using the
retained earnings account.
I only need help with those two part thank you!!
Credits Debits 28,700 18, see 31,00 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 9, 3ee 10, see 49, see 9,400 77, 7ee 77,700 The following is a summary of the transactions for the year: a. Service revenue, $134,000, of which $40,200...
What is the correct order of the accounting cycle? Prepare financial statements Record adjusting journal entries...
What is the correct order of the accounting cycle? Prepare financial statements Record adjusting journal entries and update ledger balances < Prepare unadjusted trial balance > Analyze transactions based on source documents < Record journal entries in general journal and update general ledger > Prepare adjusted trial balance Prepare post closing trial balance < Record closing entries
the following adjusted trial balance contains the account and year-end balances of cruz compamy as of...
the following adjusted trial balance contains the account and
year-end balances of cruz compamy as of decemebrt 31.
Help Sa The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals...
Exercise 3-18 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker Incorporated's fiscal...
Exercise 3-18 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker Incorporated's fiscal year-end is December 31, 2018. The following is an adjusted trial balance as of December 31 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Credit Debit 10,500 31,500 22,500 $ 1,500 15,000 32,500 2,500 55,500 18,500 11,500 8,500 6,500 Totals $112,000 112,000 1. Prepare the necessary closing entries....
Credit $ 8,550 The adjusted trial balance at April 30, 2020, for Zhang Co. follows. Debit...
Credit $ 8,550 The adjusted trial balance at April 30, 2020, for Zhang Co. follows. Debit 101 Cash $ 3,900 106 Accounts receivable 8,800 153 Trucks 27,500 154 Accumulated depreciation, trucks 193 Franchise 13,500 201 Accounts payable 209 Salaries payable 233 Unearned revenue 301 Angel Zhang, capital 302 Angel Zhang, withdrawals 9,900 Plumbing revenue 611 Depreciation expense, trucks 5,200 622 Salaries expense 18,100 640 Rent expense 3,300 Advertising expense 7,200 901 Income summary Totals $97,400 9,900 3,500 1,300 30,600 43,550...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $18,000 13,300 2,000 23,000 $ 6,500 45,480 Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 A. Cruz, Capital 302 A. Cruz, withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 44,800 2.000 26,118 1.882 3.002 1.478 $96,780 $96.780 1. Prepare the...
You are going to prepare the journal entries, trial balances, and financial statements related to...
You are going to prepare the journal entries, trial balances, and financial statements related to the Winston Delivery Company for the month ended June 30, 2018. Based on the information below, prepare the recording of transactions for the company during the month of June, then prepare the unadjusted trial balance, then the adjusting entries, the adjusted trial balance, the financial statements (Income Statement, Statement of Stockholders’ Equity, Balance Sheet and Cash Flow Statement), closing entries, and Post-closing trial balance. You...
You are going to prepare the journal entries, trial balances, and financial statements related to the...
You are going to prepare the journal entries, trial balances, and financial statements related to the Winston Delivery Company for the month ended June 30, 2018. Based on the information below, prepare the recording of transactions for the company during the month of June, then prepare the unadjusted trial balance, then the adjusting entries, the adjusted trial balance, the financial statements (Income Statement, Statement of Stockholders’ Equity, Balance Sheet and Cash Flow Statement), closing entries, and Post-closing trial balance. You will...
prepare a post closing trial balance Question 2 Cullumber Company had the following adjusted trial balance....
prepare a post closing trial balance
Question 2 Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,570 Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 $12,500 O DO 170 N O $ U J.UU ) Prepare...
Journal entry
number one record entry to transfer fees income to income summary.
Number to record entry to transfer expenses to income summary.
Number three record entry to transfer net income or net loss from
income summary to Capital. Number for record entry to transfer
drawings to Capital account. General ledger post the closing
entries to the owners capital account. Trial balance prepare a
post-closing trial balance
Danos Company's partial worksheet for the month ended December 31, 2019. is shown...
Record the entry to close the dividends account.
Record the entry to close the expense accounts using the
retained earnings account.
I only need help with those two part thank you!!
Credits Debits 28,700 18, see 31,00 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 9, 3ee 10, see 49, see 9,400 77, 7ee 77,700 The following is a summary of the transactions for the year: a. Service revenue, $134,000, of which $40,200...
What is the correct order of the accounting cycle? Prepare financial statements Record adjusting journal entries and update ledger balances < Prepare unadjusted trial balance > Analyze transactions based on source documents < Record journal entries in general journal and update general ledger > Prepare adjusted trial balance Prepare post closing trial balance < Record closing entries
the following adjusted trial balance contains the account and
year-end balances of cruz compamy as of decemebrt 31.
Help Sa The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals...
Exercise 3-18 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker Incorporated's fiscal year-end is December 31, 2018. The following is an adjusted trial balance as of December 31 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Credit Debit 10,500 31,500 22,500 $ 1,500 15,000 32,500 2,500 55,500 18,500 11,500 8,500 6,500 Totals $112,000 112,000 1. Prepare the necessary closing entries....
Credit $ 8,550 The adjusted trial balance at April 30, 2020, for Zhang Co. follows. Debit 101 Cash $ 3,900 106 Accounts receivable 8,800 153 Trucks 27,500 154 Accumulated depreciation, trucks 193 Franchise 13,500 201 Accounts payable 209 Salaries payable 233 Unearned revenue 301 Angel Zhang, capital 302 Angel Zhang, withdrawals 9,900 Plumbing revenue 611 Depreciation expense, trucks 5,200 622 Salaries expense 18,100 640 Rent expense 3,300 Advertising expense 7,200 901 Income summary Totals $97,400 9,900 3,500 1,300 30,600 43,550...
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $18,000 13,300 2,000 23,000 $ 6,500 45,480 Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 A. Cruz, Capital 302 A. Cruz, withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 44,800 2.000 26,118 1.882 3.002 1.478 $96,780 $96.780 1. Prepare the...
prepare a post closing trial balance
Question 2 Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,570 Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 $12,500 O DO 170 N O $ U J.UU ) Prepare...
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