| Adjusting Journal Entries | Dr $ | Cr$ | Remarks | |
| 1 | No Transaction required for Cash | |||
| 2 | Supplies Expense | 3,000 | Adjusted to clsoing stock by expense out | |
| Supplies | 3,000 | |||
| 3 | Rent Expense | 4,000 | Nov+Dec 2018 rent expensed | |
| Prepaid Rent | 4,000 | |||
| 4 | Utilities Expense | 450 | Accrual made for Dec pending utilty bill | |
| Accounts Payable | 450 | |||
| 5 | Salaries & Wages Expense | 150 | Pending Wages & Sal payable for Dec | |
| Salaries & Wages Payable | 150 | |||
| 6 | Income Tax Expense | 630 | As per working | |
| Income Tax Payable | 630 | |||
| 7 | No adjsuting entry required for common stock | |||
| 8 | Income Statement | 1,470 | Net Income transferred to retained earning | |
| Retained Earning | 1,470 | |||
| 9 | Service revenue : no adjsuting entry required. |
| Working for Journal entry | |
| Vai's Hair Emporium | |
| Profrma Income Statement | |
| for the period ending Dec 31, 2018. | Amt $ |
| Service Revenue | 75,800 |
| Operating Expenses | |
| Salaries & Wages Expense | 29,250 |
| Utilities Expense | 12,650 |
| Rent Expense | 24,000 |
| Supplies Expense | 7,800 |
| Total Operating Expense | 73,700 |
| EBIT | 2,100 |
| Interest Expense | - |
| EBT | 2,100 |
| Income Tax (@30%) | 630 |
| Net Income | 1,470 |
Check my work 00 Required information [The following information applies to the questions displayed below.) Val's...
NEED HELP
[The following information applies to the questions displayed below.) Val's Hair Emporum operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows, along with Information about selected accounts. Credit Account Names Cash Supplies Prepaid Rent Debit $ 2,800 3,300 3,60 Accounts Payable $1,000 Further Information As reported on December 31 bank statement. Based on count, only $800 of supplies still exist. This amount was paid November 1 for rent through the end of January,...
I cannot get any of this figured out correctly, besides putting
the accounts in the correct order. Is there anyway I can get help
with this please?
Required information [The following information applies to the questions displayed below] Part 3 of 4 Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows, along with information about selected accounts. Credit Account Names Cash Supplies Prepaid Rent Debit $ 3,800 4,300 6,000 Accounts Payable $...
need help finding rent, utilities, salaries and wages, income
tax expenses
Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows, along with information about selected accounts. Account Names Cash Supplies Prepaid Rent Debit $ 2,800 3,380 3,000 Accounts Payable Credit Further Information As reported on December 31 bank statement. Based on count, only $8ee of supplies still exdst. This amount was paid November 1 for rent through the end of January $...
how do you calculate Income Tax Expense, i need help finding
the answer to No. 5
3. Prepare the adjusting journal entries that are required at December 31, 2018. (If no entry is required for a transaction/event, s "No Journal Entry Required" In the first account fleld.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 a 3.800 Supplies Expense Supplies 3.800 2. b 10.000 Rent Expense Prepaid Rent 10.000 3 11.200 Utilities Expense Accounts...
Check my wo! Required information [The following information applies to the questions displayed below) Part 1 of 7 Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. (Assume amounts are reported in thousands of dollars.) points Debit Credit $ 40 11 eBook 84 Hint Account Titles Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Sales Revenue Insurance Expense Salaries and Wages Expense...
2.2. Name the five pairs
of balance sheet and income statement accounts that require
adjustment.
3.3. Calculate the desired balances for each
account listed in the unadjusted trial balance.
4.4. Prepare the adjusting journal entries that
are required at December 31, 2017. (If no entry is required
for a transaction/event, select "No journal entry required" in the
first account field.)
Val's Hair Emporium is a hair salon. Its unadjusted trial balance as of December 31, 2017, follows, along with information...
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 $ 8 4 4 9 $ 1 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest...
Check my work Part 7 of 7 Required information (The following information applies to the questions displayed below.) Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. (Assume amounts are reported in thousands of dollars.) points Debit Credit $ 40 11 8 eBook 84 $ 0 Hint 11 Account Titles Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Sales Revenue Insurance Expense...
Required information (The following information applies to the questions displayed below.) Dyer, Inc., completed its first year of operations on December 31, 2018. Because this is the end of the annual accounting period, the company bookkeeper prepared the following preliminary income statement: $113,500 Income Statement, 2018 Rent Revenue Expenses: Salaries and Wages Expense $28,400 Repairs and Maintenance Expense 12,900 Rent Expense 8,900 Utilities Expense 3,900 Travel Expense 2,900 Total Expenses Income 57,000 $ 56,500 You are an independent CPA hired...
Val’s Hair Emporium operates a hair salon. Its unadjusted trial
balance as of December 31, 2018, follows, along with information
about selected accounts.
Required Information [The following information applies to the questions displayed below.) Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows, along with information about selected accounts. Credit Account Names Cash Supplies Prepaid Rent Debit $ 4,800 5,300 9,000 Accounts Payable $ 2,000 Further Information As reported on December 31...