Homework Answers
Closing entries
| No | General Journal | Debit | Credit |
| 1 | Barbershop revenue | 150000 | |
| Income summary | 150000 | ||
| 2 | Income summary | 84000 | |
| Depreciation expense-equipment | 10000 | ||
| Supplies expense | 3000 | ||
| Salaries expense | 45000 | ||
| Rent expense | 18000 | ||
| Insurance expense | 5000 | ||
| Utilities expense | 3000 | ||
| 3 | Income summary | 66000 | |
| Dee Snyder capital | 66000 | ||
| 4 | Dee Snyder capital | 5000 | |
| Dee Snyder withdrawals | 5000 | ||
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Prepare the necessary closing entries for Dee Snyder's Barber Shop at December 31, 2019. Use the...
Based on the following trial balance for RJ Dio Metal Shop, prepare an income statement and...
Based on the following trial balance for RJ Dio Metal Shop, prepare an income statement and a statement of owner's equity for the year ended December 31, 2019 and a classified balance sheet at December 31, 2019. Ru Dio made no investments in 2019. Use the designated space in the Solution Packet (30 points). 25,000 21,000 8,000 6,000 75,000 30,000 200,000 RJ Dio Metal Shop Adjusted Trial Balance December 31, 2019 Cash Accounts Receivable Prepaid Expense Supplies Equipment Accumulated Depreciation...
3 Below is the unadjusted trial balance for Osbourne's Animal Sanctuary which has been in operation...
3 Below is the unadjusted trial balance for Osbourne's Animal Sanctuary which has been in operation since January 1, 2019. Prepare the journal entries for the additional information given below at December 31, 2019. Use the designated space in the Solution Packet. (20 points) 20,000 15,000 7,000 4,500 80,000 Osbourne's Animal Sanctuary Unadjusted Trial Balance December 31, 2019 Cash Accounts Receivable Prepaid Insurance Supplies Equipment A/D Equipment Accounts Payable Salaries Payable Unearned Consulting Revenue Osbourne's, Capital Consulting Revenue Depreciation Expense...
Below is the unadjusted trial balance for Osbourne's Animal Sanctuary which has been in operation since...
Below is the unadjusted trial balance for Osbourne's Animal Sanctuary which has been in operation since January 1, 2019. Prepare the journal entries for the additional information given below at December 31, 2019. Use the designated space in the Solution Packet. (20 points) 20,000 15,000 7,000 4,500 80,000 Osbourne's Animal Sanctuary Unadjusted Trial Balance December 31, 2019 Cash Accounts Receivable Prepaid Insurance Supplies Equipment A/D Equipment Accounts Payable Salaries Payable Unearned Consulting Revenue Osbourne's, Capital Consulting Revenue Depreciation Expense -...
Instructions state: Prepare a post closing trail balance for the firm on December 31, 2019. The...
Instructions state: Prepare a post closing trail balance for the
firm on December 31, 2019.
The Adjusted Trial Balance section of the worksheet for Van Zant Janitorial Supplies follows. The owner made no additional investments during the year. Accounts Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Social Security Tax Payable Medicare Tax Payable Steven Van Zant, Capital Steven Van Zant, Drawing Income Summary Sales Sales Returns and allowances Purchases Freight...
prepare closing entries as of December 31, 2019. Company is presented below. The Giant Company Adjusted...
prepare closing entries as of December 31, 2019.
Company is presented below. The Giant Company Adjusted Trial Balance For the Year Ended December 31, 2019 $15,000 30,000 118,000 90,000 $30,000 56,000 38,000 123,000 36,000 378,000 Cash Accounts receivable Inventory Equipment Accumulated Depreciation Accounts payable Loan payable Eli Manning, capital Eli Manning, withdrawals Sales revenue Sales returns and allowances Sales discounts Cost of goods sold Rent expense Salary expense Insurance expense Utilities expense Depreciation expense Travel & Entertainment expense Interest revenue...
• Income Statement for the year ending December 31, 2019 • Statement of Retained Earnings for...
• Income Statement for the year ending December 31, 2019
• Statement of Retained Earnings for the year ending December
31, 2019
• Statement of Stockholders Equity for the year ending
December 31, 2019
• Balance Sheet at December 31, 2019
• Statement of Cash Flows for the year ending December 31,
2018
Note: For Earnings per Share (EPS) calculations, use 10,000
shares of common stock as the weighted average number of shares
outstanding.
Credit Debit 64. 200 2000 5,000...
Part 3 - Problems 1. The account balances for Dave's Golf Shop as of December 31,...
Part 3 - Problems 1. The account balances for Dave's Golf Shop as of December 31, 2019 were as follows: Accounts Payable Accounts Receivable Cash Common Stock Dividends Equipment Insurance Expense Interest Expense Note Payable (Due 6/30/21) Rent Expense Retained Earnings 1/1/2019 Revenue Salary Expense Salary Payable Supplies Supplies Expense Utilities Expense 4,800 12,600 27,800 19,200 8,200 1,200 11,000 8,000 6,500 15,400 0 53,000 2,500 14,200 5,000 4,000 2,000 equired: (a)Prepare an Income Statement, Statement of etained Earnings and Balance...
The following unadjusted trial balance is for Wright's Wrecking Ball Company as of December 31", 2019....
The following unadjusted trial balance is for Wright's Wrecking Ball Company as of December 31", 2019. The December 31" 2018 balance in the owner's capital account was $50,000, and the owner invested $40,000 cash in the company during 2019. Debit Credit $ 10,000 15.000 14.000 150,000 $ 10,000 4,650 Cash Supplies Prepaid insurance Equipment Accum. Dep. - Equipment Accounts payable Interest payable Rent payable Wages payable Property taxes payable Utilities payable Long-term notes payable Owner's Capital Withdrawals Fees earned Depreciation...
can someone help me prepare the adjusting trial balance at 12/31/19 and closing entries for 2019...
can someone help me prepare the adjusting trial balance at
12/31/19 and closing entries for 2019
480 Problem 1 (25%): Axle Gear Company produced the following trial balance at the end of December 2019: Axle Gear Company Trial Balance 12/31/19 Cash 8,500 Accounts receivable 32,000 Allowance for uncollectible accounts Inventory 90,000 Prepaid insurance 4,880 Equipment 84,000 Accumulated depreciation 35,000 Notes payable 28,000 Common stock 80,600 Retained earnings 10,000 Sales revenue 600,000 Cost of goods sold 408,000 Salaries and wages expense...
Instructions: Prepare the closing entries for the temporary accounts at August 31. RYAN COMPANY Trial Balance...
Instructions: Prepare the closing entries for
the temporary accounts at August 31.
RYAN COMPANY Trial Balance August 31, 2017 After Adjustment Cr. Dr. Cr. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense Before Adjustment Dr. $10,900 8,800 2,500 4,000 16,000 $ 3,600 5,800 0 1,800 10,000 5,500 2,800...
Based on the following trial balance for RJ Dio Metal Shop, prepare an income statement and a statement of owner's equity for the year ended December 31, 2019 and a classified balance sheet at December 31, 2019. Ru Dio made no investments in 2019. Use the designated space in the Solution Packet (30 points). 25,000 21,000 8,000 6,000 75,000 30,000 200,000 RJ Dio Metal Shop Adjusted Trial Balance December 31, 2019 Cash Accounts Receivable Prepaid Expense Supplies Equipment Accumulated Depreciation...
3 Below is the unadjusted trial balance for Osbourne's Animal Sanctuary which has been in operation since January 1, 2019. Prepare the journal entries for the additional information given below at December 31, 2019. Use the designated space in the Solution Packet. (20 points) 20,000 15,000 7,000 4,500 80,000 Osbourne's Animal Sanctuary Unadjusted Trial Balance December 31, 2019 Cash Accounts Receivable Prepaid Insurance Supplies Equipment A/D Equipment Accounts Payable Salaries Payable Unearned Consulting Revenue Osbourne's, Capital Consulting Revenue Depreciation Expense...
Below is the unadjusted trial balance for Osbourne's Animal Sanctuary which has been in operation since January 1, 2019. Prepare the journal entries for the additional information given below at December 31, 2019. Use the designated space in the Solution Packet. (20 points) 20,000 15,000 7,000 4,500 80,000 Osbourne's Animal Sanctuary Unadjusted Trial Balance December 31, 2019 Cash Accounts Receivable Prepaid Insurance Supplies Equipment A/D Equipment Accounts Payable Salaries Payable Unearned Consulting Revenue Osbourne's, Capital Consulting Revenue Depreciation Expense -...
Instructions state: Prepare a post closing trail balance for the
firm on December 31, 2019.
The Adjusted Trial Balance section of the worksheet for Van Zant Janitorial Supplies follows. The owner made no additional investments during the year. Accounts Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Social Security Tax Payable Medicare Tax Payable Steven Van Zant, Capital Steven Van Zant, Drawing Income Summary Sales Sales Returns and allowances Purchases Freight...
prepare closing entries as of December 31, 2019.
Company is presented below. The Giant Company Adjusted Trial Balance For the Year Ended December 31, 2019 $15,000 30,000 118,000 90,000 $30,000 56,000 38,000 123,000 36,000 378,000 Cash Accounts receivable Inventory Equipment Accumulated Depreciation Accounts payable Loan payable Eli Manning, capital Eli Manning, withdrawals Sales revenue Sales returns and allowances Sales discounts Cost of goods sold Rent expense Salary expense Insurance expense Utilities expense Depreciation expense Travel & Entertainment expense Interest revenue...
• Income Statement for the year ending December 31, 2019
• Statement of Retained Earnings for the year ending December
31, 2019
• Statement of Stockholders Equity for the year ending
December 31, 2019
• Balance Sheet at December 31, 2019
• Statement of Cash Flows for the year ending December 31,
2018
Note: For Earnings per Share (EPS) calculations, use 10,000
shares of common stock as the weighted average number of shares
outstanding.
Credit Debit 64. 200 2000 5,000...
Part 3 - Problems 1. The account balances for Dave's Golf Shop as of December 31, 2019 were as follows: Accounts Payable Accounts Receivable Cash Common Stock Dividends Equipment Insurance Expense Interest Expense Note Payable (Due 6/30/21) Rent Expense Retained Earnings 1/1/2019 Revenue Salary Expense Salary Payable Supplies Supplies Expense Utilities Expense 4,800 12,600 27,800 19,200 8,200 1,200 11,000 8,000 6,500 15,400 0 53,000 2,500 14,200 5,000 4,000 2,000 equired: (a)Prepare an Income Statement, Statement of etained Earnings and Balance...
The following unadjusted trial balance is for Wright's Wrecking Ball Company as of December 31", 2019. The December 31" 2018 balance in the owner's capital account was $50,000, and the owner invested $40,000 cash in the company during 2019. Debit Credit $ 10,000 15.000 14.000 150,000 $ 10,000 4,650 Cash Supplies Prepaid insurance Equipment Accum. Dep. - Equipment Accounts payable Interest payable Rent payable Wages payable Property taxes payable Utilities payable Long-term notes payable Owner's Capital Withdrawals Fees earned Depreciation...
can someone help me prepare the adjusting trial balance at
12/31/19 and closing entries for 2019
480 Problem 1 (25%): Axle Gear Company produced the following trial balance at the end of December 2019: Axle Gear Company Trial Balance 12/31/19 Cash 8,500 Accounts receivable 32,000 Allowance for uncollectible accounts Inventory 90,000 Prepaid insurance 4,880 Equipment 84,000 Accumulated depreciation 35,000 Notes payable 28,000 Common stock 80,600 Retained earnings 10,000 Sales revenue 600,000 Cost of goods sold 408,000 Salaries and wages expense...
Instructions: Prepare the closing entries for
the temporary accounts at August 31.
RYAN COMPANY Trial Balance August 31, 2017 After Adjustment Cr. Dr. Cr. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense Before Adjustment Dr. $10,900 8,800 2,500 4,000 16,000 $ 3,600 5,800 0 1,800 10,000 5,500 2,800...
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