Homework Answers
| Date | Title | Debit | Credit |
| 1 | Rent expense ($1,900-$1,000) | $ 900 | |
| Prepaid rent | $ 900 | ||
| 2 | Supplies expense ($1,500-$700) | $ 800 | |
| Supplies | $ 800 | ||
| 3 | Interest receivable | $ 1,700 | |
| Interest revenue | $ 1,700 | ||
| 4 | Depreciation expense ($21,900-$14,600) | $ 7,300 | |
| Accumulated depreciation | $ 7,300 | ||
| 5 | Salaries and wages expense | $ 6,600 | |
| Salaries and wages payable | $ 6,600 | ||
| 6 | Interest expense | $ 2,900 | |
| Interest payable | $ 2,900 | ||
| 7 | Rent revenue | $ 2,400 | |
| Deferred rent revenue | $ 2,400 |
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Check my work 9 Howarth Company's fiscal year-end is December 31. Below are the unadjusted and...
Howarth Company’s fiscal year-end is December 31. Below are the unadjusted and adjusted trial balances for...
Howarth Company’s fiscal year-end is December 31. Below are the unadjusted and adjusted trial balances for December 31, 2018. Unadjusted Adjusted Account Title Debits Credits Debits Credits Cash 41,000 41,000 Accounts receivable 26,000 26,000 Prepaid rent 1,575 1,000 Supplies 1,175 700 Inventory 51,000 51,000 Note receivable 49,000 49,000 Interest receivable 0 2,450 Office equipment 36,000 36,000 Accumulated depreciation 15,900 20,600 Accounts payable 25,000 25,000 Salaries and wages payable 0 5,300 Note payable 41,000 41,000 Interest payable 0 1,600 Deferred rent...
record adjusting journal entries: Howarth Company’s fiscal year-end is December 31. Below are the unadjusted and...
record adjusting journal entries: Howarth Company’s fiscal year-end is December 31. Below are the unadjusted and adjusted trial balances for December 31, 2018. Unadjusted Adjusted Account Title Debits Credits Debits Credits Cash 48,000 48,000 Accounts receivable 33,000 33,000 Prepaid rent 1,950 1,200 Supplies 1,450 800 Inventory 58,000 58,000 Note receivable 42,000 42,000 Interest receivable 0 2,100 Office equipment 43,000 43,000 Accumulated depreciation 15,200 21,300 Accounts payable 32,000 32,000 Salaries and wages payable 0 6,000 Note payable 48,000 48,000 Interest payable...
December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 31,600...
December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 31,600 41,000 2,000 61,000 21,000 2,400 6,500 84,000 31,500 32,000 51,000 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance...
Question 9 home work A company's first fiscal year-end is December 31, year 1. The following...
Question 9 home work A company's first fiscal year-end is December 31, year 1. The following is a partial adjusted trial balance as of December 31 Accounts Debits Credits retained earnings $19,000 dividends $ 1,900 service revenue 39,000 interest revenue 4,900 salaries expense 13,900 rent expense 4,900 advertising expense 1,900 depreciation expense 9,900 interest expense 3,900 Journal close revenue accounts close expense accounts close dividends accounts
A company's fiscal year-end is December 31, Year 1. The following is an adjusted trial balance...
A company's fiscal year-end is December 31, Year 1. The following
is an adjusted trial balance as of December 31.
A company's fiscal year-end is December 31, Year 1. The following is an adjusted trial balance as of December 31. Credit Debit $ 11,600 37,000 28,000 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals $ 2,600 26,000 38,000 8,600 3,600 54,400 19,600 12,600...
Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted...
Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year-end. Credits Debits $ 40,300 12,500 0 5,000 10, 200 108,000 50,000 Accounts Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Totals...
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its...
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances. Manufacturing's 2021 financial statements were issued on April 1, 2022. Accounts receivable Accounts payable 10% notes, payable to bank Mortgage note payable $ 94,000 39,000 690,000 1,320,000 Other information: a. The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate of 10%, payable at maturity. b. The mortgage...
Garvey Company's unadjusted trial balance includes the following account balances as of December 31, 2018: Credits...
Garvey Company's unadjusted trial balance includes the following account balances as of December 31, 2018: Credits Debits $ 69.ee 116, gee 1.329 139,320 8,758 50, 300 279, 280 Cash Accounts Receivable Interest Receivable Supplies Prepaid Insurance Notes Receivable (short-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Interest Revenue Supplies Expense Repair and Maintenance Expense Rent Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Totals $ 64,899...
Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31....
Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018, trial balance (before any adjusting entries) appears below. Accounts Debits Credits Cash $ 15,500 Accounts Receivable 13,700 Supplies 20,500 Prepaid Insurance 16,200 Equipment 82,000 Accumulated $ 25,500 Depreciation Accounts Payable 10,700 Salaries Payable Utilities Payable Interest Payable Notes Payable 28,500 Common Stock 22,000 Retained Earnings 8,700 Dividends 1,700 Service Revenue 216,400 Salaries Expense 151,500 Depreciation Expense 0 Insurance Expense 0...
American Chip Corporation's reporting year-end is December 31. The following is a partial adjusted trial balance...
American Chip Corporation's reporting year-end is December 31. The following is a partial adjusted trial balance as of December 31, 2021 Account Title Retained earnings Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Insurance expense Debits Credits 84,000 790,000 5,000 440,000 140,000 19,000 34,000 5,400 6,400 Required: Prepare the necessary closing entries at December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first...
December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 31,600 41,000 2,000 61,000 21,000 2,400 6,500 84,000 31,500 32,000 51,000 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance...
A company's fiscal year-end is December 31, Year 1. The following
is an adjusted trial balance as of December 31.
A company's fiscal year-end is December 31, Year 1. The following is an adjusted trial balance as of December 31. Credit Debit $ 11,600 37,000 28,000 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals $ 2,600 26,000 38,000 8,600 3,600 54,400 19,600 12,600...
Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year-end. Credits Debits $ 40,300 12,500 0 5,000 10, 200 108,000 50,000 Accounts Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Totals...
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances. Manufacturing's 2021 financial statements were issued on April 1, 2022. Accounts receivable Accounts payable 10% notes, payable to bank Mortgage note payable $ 94,000 39,000 690,000 1,320,000 Other information: a. The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate of 10%, payable at maturity. b. The mortgage...
Garvey Company's unadjusted trial balance includes the following account balances as of December 31, 2018: Credits Debits $ 69.ee 116, gee 1.329 139,320 8,758 50, 300 279, 280 Cash Accounts Receivable Interest Receivable Supplies Prepaid Insurance Notes Receivable (short-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Interest Revenue Supplies Expense Repair and Maintenance Expense Rent Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Totals $ 64,899...
Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018, trial balance (before any adjusting entries) appears below. Accounts Debits Credits Cash $ 15,500 Accounts Receivable 13,700 Supplies 20,500 Prepaid Insurance 16,200 Equipment 82,000 Accumulated $ 25,500 Depreciation Accounts Payable 10,700 Salaries Payable Utilities Payable Interest Payable Notes Payable 28,500 Common Stock 22,000 Retained Earnings 8,700 Dividends 1,700 Service Revenue 216,400 Salaries Expense 151,500 Depreciation Expense 0 Insurance Expense 0...
American Chip Corporation's reporting year-end is December 31. The following is a partial adjusted trial balance as of December 31, 2021 Account Title Retained earnings Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Insurance expense Debits Credits 84,000 790,000 5,000 440,000 140,000 19,000 34,000 5,400 6,400 Required: Prepare the necessary closing entries at December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first...
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