Homework Answers
| T-Accounts or Leger Accounts: | ||||||||
| Cash | Accounts Receivable | |||||||
| Beg. Bal. | $5 | Beg. Bal. | $4 | |||||
| a. | $30 | $14 | b. | f. | $9 | $8 | h. | |
| c. | $5 | $3 | d. | |||||
| f. | $65 | $44 | g. | |||||
| h. | $8 | $11 | i. | |||||
| j. | $2 | |||||||
| End. Bal. | $43 | End. Bal. | $5 | |||||
| Supplies | Equipment | |||||||
| Beg. Bal. | $2 | Beg. Bal. | $6 | |||||
| e. | $10 | $8 | l. | b. | $14 | |||
| d. | $3 | |||||||
| End. Bal. | $4 | End. Bal. | $23 | |||||
| $2 + $10 - $4 = $8. | ||||||||
| Accumulated Depreciation | Software | |||||||
| Beg. Bal. | $0 | Beg. Bal. | $12 | |||||
| $2 | m. | |||||||
| End. Bal. | $2 | End. Bal. | $12 | |||||
| Accumulated Amortization | Accounts Payable | |||||||
| Beg. Bal. | $2 | Beg. Bal. | $7 | |||||
| $2 | k. | i. | $11 | $10 | e. | |||
| End. Bal. | $4 | End. Bal. | $6 | |||||
| Notes Payable (short-term) | Salaries and Wages Payable | |||||||
| Beg. Bal. | $0 | Beg. Bal. | $0 | |||||
| $30 | a. | $3 | o. | |||||
| End. Bal. | $30 | End. Bal. | $3 | |||||
| Interest Payable | Income Tax Payable | |||||||
| Beg. Bal. | $0 | Beg. Bal. | $0 | |||||
| $2 | n. | $2 | p. | |||||
| End. Bal. | $2 | End. Bal. | $7 | |||||
| Deferred Revenue | Common Stock | |||||||
| Beg. Bal. | $0 | Beg. Bal. | $15 | |||||
| $2 | j. | $5 | c. | |||||
| End. Bal. | $2 | End. Bal. | $20 | |||||
| Retained Earnings | Service Revenue | |||||||
| Beg. Bal. | $5 | Beg. Bal. | $0 | |||||
| $74 | f. | |||||||
| End. Bal. | $5 | End. Bal. | $74 | |||||
| Income Tax Expense | Interest Expense | |||||||
| Beg. Bal. | $0 | Beg. Bal. | $0 | |||||
| p. | $2 | n. | $2 | |||||
| End. Bal. | $2 | End. Bal. | $2 | |||||
| Depreciation Expense | Supplies Expenses | |||||||
| Beg. Bal. | $0 | Beg. Bal. | $0 | |||||
| m. | $2 | l. | $8 | |||||
| End. Bal. | $2 | End. Bal. | $8 | |||||
| Salaries and Wages Expense | Amoritization Expense | |||||||
| Beg. Bal. | $0 | Beg. Bal. | $0 | |||||
| g. | $44 | k. | $2 | |||||
| o. | $3 | |||||||
| End. Bal. | $47 | End. Bal. | $2 | |||||
| Note: As per the requirement, opening balance are shown in each T-Account (ledger account) along with posting of all the transactions including adjustments and calculating the ending balances but closing entries are not prepared as per the requirement. Hence, closing entries need to be passed in order to close all revenue accounts, all expenss accounts etc. | ||||||||
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set up T-accounts financial accounting
Required information [The following information applies to the questions displayed below)...
(The following information applies to the questions displayed below. Drs. Glenn Feltham and David Ambrose began...
(The following information applies to the questions displayed below. Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows (the amounts are rounded to thousands of dollars to simplify): Account Titles Debit Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation $ 6 2 10 $3 Software Accumulated Amortization Accounts Payable Notes Payable...
Required information (The following information applies to the questions displayed below.) Drs. Glenn Feltham and David...
Required information (The following information applies to the questions displayed below.) Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows: Debit Credit - Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Taxes Payable Deferred Revenue...
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[The following information applies to the questions displayed below) Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc) on January 1, 2013. The annual reporting period ends December 31. The trial balance on January 1, 2015, follows (the amounts are rounded to thousands of dollars to simplify: Credit Debit $ 3 Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable...
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Required information The following information applies to the questions displayed below) Drs. Glenn Feltham and...
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CAPSTONE Journal Entries The following information applies to the questions displayed below.] Drs. Glenn Feltham and...
CAPSTONE Journal Entries
The following information applies to the questions displayed
below.]
Drs. Glenn Feltham and David Ambrose began operations of their
physical therapy clinic, called Northland Physical Therapy, on
January 1, 2017. The annual reporting period ends December 31. The
trial balance on January 1, 2018, was as follows (the amounts are
rounded to thousands of dollars to simplify):
Account Titles
Debit
Credit
Cash
$
6
Accounts Receivable
2
Supplies
2
Equipment
9
Accumulated Depreciation
$
2
Software
7...
please help me set up the T-accounts the same way it's shown Transactions and events during...
please help me set up the
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Transactions and events during 2018 (summarized in thousands of dollars) follow: a. Borrowed $11 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $8 c. Issued additional shares of common stock on April 3 for $24 d. Purchased software on July 4, $11 cash. e. Purchased supplies on account on October 5 for future use, $19. f....
cant figure out retained earnings, revenue and expenses T-Accounts or Leger Accounts: Cash Beg Bal S12...
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questions displayed below] Alison and Chuck Renny began operations
of their furnitute repair shop (Lazy Sofa Furniture Inc.) on
January 1, 2017. The annual reporting period ends December 31. The
trial balance on January 1, 2018, follows (amounts are rounded to
thousands of dollars to simplify)
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Required information [The following information applies to the questions displayed below) Alison and Chuck Renny began operations of their furniture...
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[The following information applies to the questions displayed below) Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc) on January 1, 2013. The annual reporting period ends December 31. The trial balance on January 1, 2015, follows (the amounts are rounded to thousands of dollars to simplify: Credit Debit $ 3 Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable...
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unajusted trial balance financial accounting
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CAPSTONE Journal Entries
The following information applies to the questions displayed
below.]
Drs. Glenn Feltham and David Ambrose began operations of their
physical therapy clinic, called Northland Physical Therapy, on
January 1, 2017. The annual reporting period ends December 31. The
trial balance on January 1, 2018, was as follows (the amounts are
rounded to thousands of dollars to simplify):
Account Titles
Debit
Credit
Cash
$
6
Accounts Receivable
2
Supplies
2
Equipment
9
Accumulated Depreciation
$
2
Software
7...
please help me set up the
T-accounts the same way it's shown
Transactions and events during 2018 (summarized in thousands of dollars) follow: a. Borrowed $11 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $8 c. Issued additional shares of common stock on April 3 for $24 d. Purchased software on July 4, $11 cash. e. Purchased supplies on account on October 5 for future use, $19. f....
cant figure out retained earnings, revenue and expenses
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Required information [The following information applies to the
questions displayed below] Alison and Chuck Renny began operations
of their furnitute repair shop (Lazy Sofa Furniture Inc.) on
January 1, 2017. The annual reporting period ends December 31. The
trial balance on January 1, 2018, follows (amounts are rounded to
thousands of dollars to simplify)
3. Prepare an unadjusted trial balance
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