Homework Answers
| General,Journal | Debit | Credit | ||
| 1) | Accounts Receivable | $ 10,000.00 | ||
| To Service Revenue | $ 10,000.00 | |||
| 2) | Office Supplies | $ 150.00 | ||
| To cash | $ 150.00 | |||
| 3) | Deferred Revenue | $ 5,000.00 | ||
| To service Revenue | $ 5,000.00 | |||
| 4) | Advertising Expense | $ 1,000.00 | ||
| To Accounts Payable | $ 1,000.00 | |||
| 5) | Accounts Payable | $ 3,500.00 | ||
| To Cash | $ 3,500.00 | |||
| 6) | Cash | $ 8,000.00 | ||
| To Accounts Receivable | $ 8,000.00 | |||
| T-Accounts | ||||
| Cash Account | ||||
| Balance | $ 15,000.00 | 2) | $ 150.00 | |
| 6) | $ 8,000.00 | 5) | $ 3,500.00 | |
| Balance C/d | $ 19,350.00 | |||
| $ 23,000.00 | $ 23,000.00 | |||
| Accounts Receivable | ||||
| Balance | $ 8,000.00 | 6) | $ 8,000.00 | |
| 1) | $ 10,000.00 | Balance C/d | $ 10,000.00 | |
| $ 18,000.00 | $ 18,000.00 | |||
| Service Revenue | ||||
| Balance C/d | $ 23,000.00 | Balance | $ 8,000.00 | |
| 1) | $ 10,000.00 | |||
| 3) | $ 5,000.00 | |||
| $ 23,000.00 | $ 23,000.00 | |||
| Office Supplies | ||||
| Balance | $ 100.00 | Balance C/d | $ 250.00 | |
| 2) | $ 150.00 | |||
| $ 250.00 | $ 250.00 | |||
| Accounts Payable | ||||
| 5) | $ 3,500.00 | Balance | $ 2,500.00 | |
| 4) | $ 1,000.00 | |||
| $ 3,500.00 | $ 3,500.00 | |||
| Deferred Revenue | ||||
| 3) | $ 5,000.00 | Balance | $ 9,000.00 | |
| Balance C/d | $ 4,000.00 | |||
| $ 9,000.00 | $ 9,000.00 | |||
| Advertising Expense | ||||
| Balance | $ 3,000.00 | Balance C/d | $ 4,000.00 | |
| 4) | $ 1,000.00 | |||
| $ 4,000.00 | $ 4,000.00 | |||
| 14) | Cash balance at the end of the day | $ 19,350.00 | ||
| 15) | Accounts Receivable balance at the end of the day | $ 10,000.00 | ||
| 16) | Office supplies at the end of the day | $ 250.00 | ||
| 17) | Accounts Payable at the end of the day | $ - | ||
| 18) | Deferred Revenue at the end of the day | $ 4,000.00 | ||
| 19) | Service Revenue at the end of the day | $ 23,000.00 | ||
| 20) | Advertising Expense at the end of the day | $ 4,000.00 | ||
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I need help with 14 - 20
Use the following to answer questions 14-20 Post each...
Use the following to answer questions 10-13 Indicate which of the following accounts should be debited...
Use the following to answer questions 10-13 Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit : N (Supplies) Credit: C (Cash)...See below. Only include the letter of the account not the account name. A Accounts payable B. Accounts receivable C Cash D. Common stock E. Dividends F. Equipment G. Notes payable H. Prepaid rent L. Rent expense J. Retained earnings...
I need help with 21 -27 Use the following to answer questions 21– 27 LIABILITIES &...
I need help with 21 -27
Use the following to answer questions 21– 27 LIABILITIES & INCOME STATEMENT ASSETS STOCKHOLDERS' EQUITY F. Accounts Payable G. Salaries Payable ACCOUNTS A. Cash K. Service Revenue L. Advertising expense B. Accounts Receivable C. Supplies D. Prepaid advertising E. Equipment H. Deferred revenue M. Rent Expense N. Salaries/Wage expense O. Utilities expense I. Notes Payable J. Retained Earnings February 1st transaction is completed as an example: Only include the letter of the account not...
I need help with 34-39 Use the following to answer questions 34 - 36 The year-end...
I need help with 34-39
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $300,000 450,000 250,000 20,000 5,000 75,000 Prepare the closing entries. 34. $_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $ In preparing the closing entries for the temporary accounts, how much should...
Use the following to answer questions 10 - 13 Indicate which of the following accounts should...
Use the following to answer questions 10 - 13 Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit : N (Supplies) Credit: C (Cash) see below. Only include the letter of the account not the account name. A Accounts payable E. Dividends 1. Rent expense M. Service revenue B Accounts receivable F. Equipment J. Retained earnings N. Supplies C. Cash G....
I need help with 28-31 Use the following to answer questions 28 - 35 TR Corporation...
I need help with 28-31
Use the following to answer questions 28 - 35 TR Corporation has provided their trial balance at the end of January. Credits Debits $50,000 65,000 1,000 3,500 985,000 $12,000 35,000 4,500 19,000 250,000 500,000 Cash Accounts receivable Supplies Prepaid expenses | Buildings/Equipment, net Accounts payable Income tax payable Utilities payable Deferred revenue Notes payable Common stock Retained Earnings Dividends Service revenue Salaries expense Insurance expense Advertising expense Supplies expense Depreciation expense Rent expense Utilities expense...
Problem 2-6B Prepare a trial balance (LO2-6) Below are account balances of Ducks Company at the...
Problem 2-6B Prepare a trial balance (LO2-6) Below are account balances of Ducks Company at the end of September Balances $ 12,000 3,000 Accounts Balances Accounts Cash $20,000 Retained Earnings Accounts Receivable 13,000 Dividends Supplies 6,000 Service Revenue Prepaid Insurance 4,000 Salaries Expense Equipment 23,000 Insurance Expense Accounts Payable 6,000 Advertising Expense Salaries Payable 3,000 Supplies Expense Utilities Payable 1,000 Entertainment Expense Deferred Revenue 8,000 Utilities Expense Common Stock 24,000 8,000 7,000 1,000 9,000 5,000 1,000 Required: Prepare a trial...
Help with Post-Closing Trial Balance sheet Required information (The following information applies to the questions displayed...
Help with Post-Closing Trial Balance sheet
Required information (The following information applies to the questions displayed below.) The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 4,000 Accounts Receivable 9,000 Supplies 3,000 Equipment 26,000 Accumulated Depreciation $ 6,000 Accounts Payable 4,000 Utilities Payable 5,000 Deferred Revenue 0 Common Stock 18,000 Retained Earnings 9,000 Totals $ 42,000 $42,000 The following is a summary of the transactions for the year. es...
Post each transaction to T-accounts and compute the end balance of each account. Consider the recorded...
Post each transaction to T-accounts and compute the end balance
of each account.
Consider the recorded transactions below. Debit 7,600 Credit 1. Accounts Receivable Service Revenue 7,600 1,900 2. Supplies Accounts Payable 1,900 9,400 3. Cash Accounts Receivable 9,400 4. Advertising Expense Cash 1,100 1,100 5. Accounts Payable Cash 2,900 2,900 1,200 6. Cash Deferred Revenue 1,200 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions...
I need help with all of this. Use the data to set up a Trial Balance...
I need help with all of this.
Use the data to set up a Trial Balance and answer the 5 questions. Cash $10,000 Accounts receivable 12,000 Supplies 200 Prepaid rent 2,200 Building & Equipment Accounts payable 6,500 Salaries payable 4,500 Interest payable 3,000 Deferred revenue 7,000 Notes payable 25,000 Common stock 50,000 Retained earnings 30,000 Dividends 1,000 Service revenue 55,000 Salaries expense 32,500 Rent expense 1,100 Interest expense Supplies expense 80 Utilities expense 325 Advertising expense 1,500 150 1. Total...
Consider the recorded transactions below. Debit 8,100 Credit 1. Accounts Receivable Service Revenue 8,100 2. Supplies...
Consider the recorded transactions below. Debit 8,100 Credit 1. Accounts Receivable Service Revenue 8,100 2. Supplies Accounts Payable 2,150 2,150 3. Cash Accounts Receivable 9,900 9,900 4. Advertising Expense 1,000 Cash 1,000 5. Accounts Payable Cash 3,400 3,400 6. Cash Deferred Revenue 1,100 1,100 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $3,100; Accounts Receivable, $3,900; Supplies, $370, Accounts Payable, $3,200; Deferred Revenue,...
Use the following to answer questions 10-13 Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit : N (Supplies) Credit: C (Cash)...See below. Only include the letter of the account not the account name. A Accounts payable B. Accounts receivable C Cash D. Common stock E. Dividends F. Equipment G. Notes payable H. Prepaid rent L. Rent expense J. Retained earnings...
I need help with 21 -27
Use the following to answer questions 21– 27 LIABILITIES & INCOME STATEMENT ASSETS STOCKHOLDERS' EQUITY F. Accounts Payable G. Salaries Payable ACCOUNTS A. Cash K. Service Revenue L. Advertising expense B. Accounts Receivable C. Supplies D. Prepaid advertising E. Equipment H. Deferred revenue M. Rent Expense N. Salaries/Wage expense O. Utilities expense I. Notes Payable J. Retained Earnings February 1st transaction is completed as an example: Only include the letter of the account not...
I need help with 34-39
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $300,000 450,000 250,000 20,000 5,000 75,000 Prepare the closing entries. 34. $_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $ In preparing the closing entries for the temporary accounts, how much should...
Use the following to answer questions 10 - 13 Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit : N (Supplies) Credit: C (Cash) see below. Only include the letter of the account not the account name. A Accounts payable E. Dividends 1. Rent expense M. Service revenue B Accounts receivable F. Equipment J. Retained earnings N. Supplies C. Cash G....
I need help with 28-31
Use the following to answer questions 28 - 35 TR Corporation has provided their trial balance at the end of January. Credits Debits $50,000 65,000 1,000 3,500 985,000 $12,000 35,000 4,500 19,000 250,000 500,000 Cash Accounts receivable Supplies Prepaid expenses | Buildings/Equipment, net Accounts payable Income tax payable Utilities payable Deferred revenue Notes payable Common stock Retained Earnings Dividends Service revenue Salaries expense Insurance expense Advertising expense Supplies expense Depreciation expense Rent expense Utilities expense...
Problem 2-6B Prepare a trial balance (LO2-6) Below are account balances of Ducks Company at the end of September Balances $ 12,000 3,000 Accounts Balances Accounts Cash $20,000 Retained Earnings Accounts Receivable 13,000 Dividends Supplies 6,000 Service Revenue Prepaid Insurance 4,000 Salaries Expense Equipment 23,000 Insurance Expense Accounts Payable 6,000 Advertising Expense Salaries Payable 3,000 Supplies Expense Utilities Payable 1,000 Entertainment Expense Deferred Revenue 8,000 Utilities Expense Common Stock 24,000 8,000 7,000 1,000 9,000 5,000 1,000 Required: Prepare a trial...
Help with Post-Closing Trial Balance sheet
Required information (The following information applies to the questions displayed below.) The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 4,000 Accounts Receivable 9,000 Supplies 3,000 Equipment 26,000 Accumulated Depreciation $ 6,000 Accounts Payable 4,000 Utilities Payable 5,000 Deferred Revenue 0 Common Stock 18,000 Retained Earnings 9,000 Totals $ 42,000 $42,000 The following is a summary of the transactions for the year. es...
Post each transaction to T-accounts and compute the end balance
of each account.
Consider the recorded transactions below. Debit 7,600 Credit 1. Accounts Receivable Service Revenue 7,600 1,900 2. Supplies Accounts Payable 1,900 9,400 3. Cash Accounts Receivable 9,400 4. Advertising Expense Cash 1,100 1,100 5. Accounts Payable Cash 2,900 2,900 1,200 6. Cash Deferred Revenue 1,200 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions...
I need help with all of this.
Use the data to set up a Trial Balance and answer the 5 questions. Cash $10,000 Accounts receivable 12,000 Supplies 200 Prepaid rent 2,200 Building & Equipment Accounts payable 6,500 Salaries payable 4,500 Interest payable 3,000 Deferred revenue 7,000 Notes payable 25,000 Common stock 50,000 Retained earnings 30,000 Dividends 1,000 Service revenue 55,000 Salaries expense 32,500 Rent expense 1,100 Interest expense Supplies expense 80 Utilities expense 325 Advertising expense 1,500 150 1. Total...
Consider the recorded transactions below. Debit 8,100 Credit 1. Accounts Receivable Service Revenue 8,100 2. Supplies Accounts Payable 2,150 2,150 3. Cash Accounts Receivable 9,900 9,900 4. Advertising Expense 1,000 Cash 1,000 5. Accounts Payable Cash 3,400 3,400 6. Cash Deferred Revenue 1,100 1,100 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $3,100; Accounts Receivable, $3,900; Supplies, $370, Accounts Payable, $3,200; Deferred Revenue,...
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