Homework Answers
| Adjusting Entries | |||||
| Particulars | Debit | Credit | |||
| 1) | Supplies | € 1,600.00 | |||
| To Supplies Expense | € 1,600.00 | ||||
| 2) | Interest Expense | € 600.00 | |||
| To Interest Payable | € 600.00 | ||||
| ($ 16000 x 9% x 5/12) | |||||
| 3) | Prepaid Insurance | € 1,800.00 | |||
| To Insurance Expense | € 1,800.00 | ||||
| ($ 2400 x 9/12) | |||||
| 4) | Service Revenue | € 1,100.00 | |||
| To Unearned Revenue | € 1,100.00 | ||||
| 5) | Accounts Receivable | € 2,400.00 | |||
| To Service Revenue | € 2,400.00 | ||||
| 6) | Depreciation Expense | € 2,000.00 | |||
| To Accumulated Depreciation | € 2,000.00 | ||||
| Trial Balance | ||||||||||
| Unadjusted | Adjustments | Adjusted | ||||||||
| Particulars | Debit | Credit | Debit | Credit | Debit | Credit | ||||
| Cash | € 8,400.00 | € 8,400.00 | ||||||||
| Accounts Receivable | € 13,800.00 | € 2,400.00 | € 16,200.00 | |||||||
| Equipment | € 43,000.00 | € 43,000.00 | ||||||||
| Accumulated Depreciation | € 2,000.00 | € 2,000.00 | ||||||||
| Supplies | € 1,600.00 | € 1,600.00 | ||||||||
| Prepaid Insurance | € 1,800.00 | € 1,800.00 | ||||||||
| Accounts Payable | € 9,400.00 | € 9,400.00 | ||||||||
| Notes Payable | € 16,000.00 | € 16,000.00 | ||||||||
| Interest Payable | € 600.00 | € 600.00 | ||||||||
| Unearned Revenue | € 1,100.00 | € 1,100.00 | ||||||||
| Share Capital - Ordinary | € 21,600.00 | € 21,600.00 | ||||||||
| Service Revenue | € 59,400.00 | € 1,100.00 | € 2,400.00 | € 60,700.00 | ||||||
| Insurance Expense | € 2,400.00 | € 1,800.00 | € 600.00 | |||||||
| Salaries and Wages Expense | € 30,100.00 | € 30,100.00 | ||||||||
| Supplies Expense | € 3,600.00 | € 1,600.00 | € 2,000.00 | |||||||
| Advertising Expense | € 2,100.00 | € 2,100.00 | ||||||||
| Interest Expense | € 600.00 | € 600.00 | ||||||||
| Rent Expense | € 1,600.00 | € 1,600.00 | ||||||||
| Utilities Expense | € 1,400.00 | € 1,400.00 | ||||||||
| Depreciation Expense | € 2,000.00 | € 2,000.00 | ||||||||
| € 106,400.00 | € 106,400.00 | € 9,500.00 | € 9,500.00 | € 111,400.00 | € 111,400.00 | |||||
| Income Statement | ||||
| Revenue | € 60,700.00 | |||
| Service Revenue | ||||
| Expenses: | ||||
| Insurance Expense | € 600.00 | |||
| Salaries and Wages Expense | € 30,100.00 | |||
| Supplies Expense | € 2,000.00 | |||
| Advertising Expense | € 2,100.00 | |||
| Interest Expense | € 600.00 | |||
| Rent Expense | € 1,600.00 | |||
| Utilities Expense | € 1,400.00 | |||
| Depreciation Expense | € 2,000.00 | € 40,400.00 | ||
| Net Income | € 20,300.00 | |||
| Retained Earnings | ||||
| Beginning Balance | € - | |||
| Add: | Net Income | € 20,300.00 | ||
| Ending Balance | € 20,300.00 | |||
| Statement of Financial Position | |||||
| Assets | |||||
| Equipment | € 43,000.00 | ||||
| Less: | Accumulated Depreciation | € 2,000.00 | € 41,000.00 | ||
| Cash | € 8,400.00 | ||||
| Accounts Receivable | € 16,200.00 | ||||
| Supplies | € 1,600.00 | ||||
| Prepaid Insurance | € 1,800.00 | ||||
| Total Assets | € 69,000.00 | ||||
| Liabilities and Equity | |||||
| Equity | |||||
| Share Capital - Ordinary | € 21,600.00 | ||||
| Retained Earnings | € 20,300.00 | € 41,900.00 | |||
| Liabilities | |||||
| Accounts Payable | € 9,400.00 | ||||
| Notes Payable | € 16,000.00 | ||||
| Interest Payable | € 600.00 | ||||
| Unearned Revenue | € 1,100.00 | ||||
| Total Liabilities and Equity | € 69,000.00 | ||||
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Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the...
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the...
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the first 6 months of operations, the trial balance contained the following accounts. € 18,000 8,700 22,000 62,500 Debits Cash Accounts Receivable Equipment Insurance Expense Salaries and Wages Expense Supplies Expense Advertising Expense Rent Expense Utilities Expense Credits € 9,000 Notes Payable 14,300 Accounts Payable 47,000 Share Capital-Ordinary 2,400 Service Revenue 29,700 3,500 2,000 1,600 1,700 €111,200 €111,200 Analysis reveals the following additional data. 1....
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the...
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the first 6 months of operations, the trial balance contained the following accounts. € 18,000 8.700 22,000 62,500 Debits Cash Accounts Receivable Equipment Insurance Expense Salaries and Wages Expense Supplies Expense Advertising Expense Rent Expense Utilities Expense Credits €9,000 Notes Payable 14,300 Accounts Payable 47,000 Share Capital-Ordinary 2,400 Service Revenue 29,700 3,500 2,000 1,600 1,700 €111,200 €111.200 Analysis reveals the following additional data 1. The...
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the...
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the first 6 months of operations, the trial balance contained the following accounts. Debits Cash Accounts Receivable Equipment Insurance Expense Salaries and Wages Expense Supplies Expense Advertising Expense Rent Expense Utilities Expense Credits € 9,000 Notes Payable 14,300 Accounts Payable 47,000 Share Capital-Ordinary 2,400 Service Revenue 29,700 3,500 € 18,000 8,700 22,000 62,500 2,000 1,600 1,700 €111,200 €111,200 Analysis reveals the following additional data. 1....
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the...
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the first 6 months of operations, the trial balance contained the following accounts. € 18,000 8,700 22,000 62,500 Debits Cash Accounts Receivable Equipment Insurance Expense Salaries and Wages Expense Supplies Expense Advertising Expense Rent Expense Utilities Expense Credits € 9,000 Notes Payable 14,300 Accounts Payable 47,000 Share Capital-Ordinary 2,400 Service Revenue 29,700 3,500 2,000 1,600 1,700 €111,200 €111,200 Analysis reveals the following additional data. 1....
prepare closing entries at June 30, 2020 Carla Vista Company had the following adjusted trial balance....
prepare closing entries at June 30, 2020
Carla Vista Company had the following adjusted trial balance. Carla Vista Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3.530 Accounts Receivable 4.000 Supplies 570 Accounts Payable $1.700 180 Unearned Service Revenue Owner's Capital 5.050 Owner's Drawings 5.040 Service Revenue Salaries and Wages Expense Miscellaneous Expense 1.200 O Supplies Expense Salaries and Wages Payable 600 $12.570 $12.570 arch o e a Prepare...
Carla Vista Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance...
Carla Vista Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,730 Accounts Receivable 4,080 Supplies 450 Accounts Payable $1,600 Unearned Service Revenue 140 Owner's Capital 5,560 Owner's Drawings 790 Service Revenue 5,510 Salaries and Wages Expense 1,400 Miscellaneous Expense 320 Supplies Expense 2,450 Salaries and Wages Payable 410 $13,220 $13,220
Exercise 4-07 a-b (Video) Pronghorn Company had the following adjusted trial balance. Pronghorn Company Adjusted Trial...
Exercise 4-07 a-b (Video) Pronghorn Company had the following adjusted trial balance. Pronghorn Company Adjusted Trial Balance June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,790 Accounts Receivable 3,800 Supplies 530 Accounts Payable $1,900 Unearned Service Revenue 170 Common Stock 4,100 Retained Earnings 760 Dividends 410 Service Revenue 4,750 Salaries and Wages Expense 1,200 Miscellaneous Expense 240 Supplies Expense 2,150 Salaries and Wages Payable 440 $12,120 $12,120 Prepare closing entries at June 30, 2020. (Credit account titles...
thank you Kay Magill Company had the following adjusted trial balance. Kay Magill Company Adjusted Trial...
thank you
Kay Magill Company had the following adjusted trial balance. Kay Magill Company Adjusted Trial Balance June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,712 Accounts Receivable 3,904 Supplies 480 Accounts Payable $1,556 Unearned Service Revenue 160 Common Stock 4,000 Retained Earnings 1,760 Dividends 628 Service Revenue 4,300 Salaries and Wages Expense 1,344 Miscellaneous Expense 256 Supplies Expense 1,900 Salaries and Wages Payable 448 $12,224 $12,224 Date Account Titles and Explanation Debit Credit June 30 (To...
Question 2 Cullumber Company had the following adjusted trial balance. $3,570 Cullumber Company Adjusted Trial Balance...
Question 2 Cullumber Company had the following adjusted trial balance. $3,570 Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue 170 Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 500 $12,500 $12,500 SOURCES Prepare closing entries at June 30, 2020. (Credit account titles are automatically...
When preparing a post closing entry please do not use Profit and Loss account as an...
When preparing a post closing entry please do not use Profit
and Loss account as an aswer. The word bank is below for the second
picture.
Bramble Company had the following adjusted trial balance. Bramble Company Adjusted Trial Balance June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,840 Accounts Receivable 3,830 Supplies 600 Accounts Payable $1,900 Unearned Service Revenue 140 Common Stock 3,900 Retained Earnings 1,540 Dividends 570 Service Revenue 4,100 Salaries and Wages Expense 1.300 Miscellaneous...
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the first 6 months of operations, the trial balance contained the following accounts. € 18,000 8,700 22,000 62,500 Debits Cash Accounts Receivable Equipment Insurance Expense Salaries and Wages Expense Supplies Expense Advertising Expense Rent Expense Utilities Expense Credits € 9,000 Notes Payable 14,300 Accounts Payable 47,000 Share Capital-Ordinary 2,400 Service Revenue 29,700 3,500 2,000 1,600 1,700 €111,200 €111,200 Analysis reveals the following additional data. 1....
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the first 6 months of operations, the trial balance contained the following accounts. € 18,000 8.700 22,000 62,500 Debits Cash Accounts Receivable Equipment Insurance Expense Salaries and Wages Expense Supplies Expense Advertising Expense Rent Expense Utilities Expense Credits €9,000 Notes Payable 14,300 Accounts Payable 47,000 Share Capital-Ordinary 2,400 Service Revenue 29,700 3,500 2,000 1,600 1,700 €111,200 €111.200 Analysis reveals the following additional data 1. The...
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the first 6 months of operations, the trial balance contained the following accounts. Debits Cash Accounts Receivable Equipment Insurance Expense Salaries and Wages Expense Supplies Expense Advertising Expense Rent Expense Utilities Expense Credits € 9,000 Notes Payable 14,300 Accounts Payable 47,000 Share Capital-Ordinary 2,400 Service Revenue 29,700 3,500 € 18,000 8,700 22,000 62,500 2,000 1,600 1,700 €111,200 €111,200 Analysis reveals the following additional data. 1....
Alpha's Graphics was organized on January 1, 2020, by Gabriel Alpha. At the end of the first 6 months of operations, the trial balance contained the following accounts. € 18,000 8,700 22,000 62,500 Debits Cash Accounts Receivable Equipment Insurance Expense Salaries and Wages Expense Supplies Expense Advertising Expense Rent Expense Utilities Expense Credits € 9,000 Notes Payable 14,300 Accounts Payable 47,000 Share Capital-Ordinary 2,400 Service Revenue 29,700 3,500 2,000 1,600 1,700 €111,200 €111,200 Analysis reveals the following additional data. 1....
prepare closing entries at June 30, 2020
Carla Vista Company had the following adjusted trial balance. Carla Vista Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3.530 Accounts Receivable 4.000 Supplies 570 Accounts Payable $1.700 180 Unearned Service Revenue Owner's Capital 5.050 Owner's Drawings 5.040 Service Revenue Salaries and Wages Expense Miscellaneous Expense 1.200 O Supplies Expense Salaries and Wages Payable 600 $12.570 $12.570 arch o e a Prepare...
Carla Vista Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,730 Accounts Receivable 4,080 Supplies 450 Accounts Payable $1,600 Unearned Service Revenue 140 Owner's Capital 5,560 Owner's Drawings 790 Service Revenue 5,510 Salaries and Wages Expense 1,400 Miscellaneous Expense 320 Supplies Expense 2,450 Salaries and Wages Payable 410 $13,220 $13,220
thank you
Kay Magill Company had the following adjusted trial balance. Kay Magill Company Adjusted Trial Balance June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,712 Accounts Receivable 3,904 Supplies 480 Accounts Payable $1,556 Unearned Service Revenue 160 Common Stock 4,000 Retained Earnings 1,760 Dividends 628 Service Revenue 4,300 Salaries and Wages Expense 1,344 Miscellaneous Expense 256 Supplies Expense 1,900 Salaries and Wages Payable 448 $12,224 $12,224 Date Account Titles and Explanation Debit Credit June 30 (To...
Question 2 Cullumber Company had the following adjusted trial balance. $3,570 Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue 170 Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 500 $12,500 $12,500 SOURCES Prepare closing entries at June 30, 2020. (Credit account titles are automatically...
When preparing a post closing entry please do not use Profit
and Loss account as an aswer. The word bank is below for the second
picture.
Bramble Company had the following adjusted trial balance. Bramble Company Adjusted Trial Balance June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,840 Accounts Receivable 3,830 Supplies 600 Accounts Payable $1,900 Unearned Service Revenue 140 Common Stock 3,900 Retained Earnings 1,540 Dividends 570 Service Revenue 4,100 Salaries and Wages Expense 1.300 Miscellaneous...
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