Below is the post-closing trial balance of Gracie Consultancy Services as at 30 June 2019: Debit...
Below is the post-closing trial balance of Gracie Consultancy Services as at 30 June 2019:
|
Debit $ |
Credit $ |
|
|
Cash at bank |
38250 |
|
|
Accounts receivable |
8250 |
|
|
Equipment |
40500 |
|
|
Accumulated depreciation - Equipment |
675 |
|
|
Accounts payable |
14250 |
|
|
Wages payable |
4500 |
|
|
Revenue received in advance |
2625 |
|
|
Gracie, Capital |
|
64950 |
|
87000 |
87000 |
The following transactions occurred during the month July 2019.
|
July |
1 |
Paid employee salaries, $4500 for June. Gracie pays her employees’ accrued salaries on the first day of each calendar month. |
|
8 |
Invoiced customers for consultancy services performed, $13100. |
|
|
14 |
Performed $1125 of services for customers who paid in advance in June for consultancy services to be performed in July. |
|
|
15 |
Paid $8100 for 4 months office building rent. |
|
|
25 |
Gracie redrew capital of $1800. |
|
|
31 |
Purchased office supplies on account for $1350. |
Required
a) Journalise the transactions, including narrations.
b) Prepare an unadjusted trial balance as at 31 July 2019.
Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Add Answer to:
Below is the post-closing trial balance of Gracie Consultancy
Services as at 30 June 2019:
Debit...
At June 30, 2017, the end of its most recent fiscal year, Novak Computer Consultants’ post-closing...
At June 30, 2017, the end of its most recent fiscal year, Novak
Computer Consultants’ post-closing trial balance was as
follows:
Debit
Credit
Cash
$ 4,920
Accounts receivable
1,130
Supplies
650
Accounts payable
$ 380
Unearned service revenue
1,050
Common stock
3,400
Retained earnings
1,870
$ 6,700
$ 6,700
The company underwent a major expansion in July. New staff was
hired and more financing was obtained. Novak conducted the
following transactions during July 2017, and adjusts its accounts
monthly.
July...
At June 30, 2022, the end of its most recent fiscal year, Cheyenne Computer Consultants’ post-closing...
At June 30, 2022, the end of its most recent fiscal year,
Cheyenne Computer Consultants’ post-closing trial balance was as
follows:
Debit
Credit
Cash
$4,290
Accounts receivable
980
Supplies
570
Accounts payable
$330
Unearned service revenue
920
Common stock
3,000
Retained earnings
1,590
$5,840
$5,840
The company underwent a major expansion in July. New staff was
hired and more financing was obtained. Cheyenne conducted the
following transactions during July 2022, and adjusts its accounts
monthly.
July
1
Purchased equipment, paying...
The trial balance of Kingbird, Inc. on June 30, 2020 is as follows: Debit Credit $3.440...
The trial balance of Kingbird, Inc. on June 30, 2020 is as follows: Debit Credit $3.440 3,877 960 4,560 Cash Accounts receivable Supplies Equipment Accounts payable Unearned revenue Common shares Retained earnings Service revenue Salaries and wages expense Office expense $3,199 1,440 7,200 3,348 2,860 4,080 1,130 $18,047 $18,047 The following transactions took place in July 2020: 1. 2. 3. 4. 5. Payments received from customers on account amounted to $1,580. A computer printer was purchased on account for $600....
1. journalise and post the july transactions to the general ledger 2. prepare a trial balance...
1. journalise and post the july transactions to the general
ledger
2. prepare a trial balance at july 31
Problem 4-5A Lee Chang opened Sunland's Window Washing on July 1, 2021. In July, the following transactions were completed: July 1 Invested $26,000 cash in the business. 1 Purchased a used truck for $25,800, paying $5,800 cash and signing a note payable for the balance. 1 Paid $2,800 on a one-year insurance policy, effective July 1. 5 Billed customers $4,200 for...
Prepare closing entries at June 30, 2019 Prepare a post-closing trial balance. Ayayai Company had the...
Prepare closing entries at June 30, 2019
Prepare a post-closing trial balance.
Ayayai Company had the following adjusted trial balance. Ayayai Company Adjusted Trial Balance For the Month Ended June 30, 2019 Adjusted Trial Balance Account Titles Credit Cash Debit $3,750 3.740 Accounts Receivable Supplies 420 Accounts Payable $1,900 Unearned Service Revenue 140 Common Stock 1,870 Retained Earnings 2,500 Dividends 440 Service Revenue 5,400 Salaries and Wages Expense 1,350 Miscellaneous Expense 210 2,300 Supplies Expense Salaries and Wages Payable 400...
At June 30, 2017, the end of its most recent fiscal year, Ayayai Computer Consultants' post-closing...
At June 30, 2017, the end of its most recent fiscal year, Ayayai Computer Consultants' post-closing trial balance was as follows: Debit Credit Cash $3,870 Accounts receivable 890 Supplies 510 Accounts payable $300 Unearned service revenue 830 Common stock 2,700 Retained earnings 1440 $5,270 $5.270 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Ayayai conducted the following transactions during July 2017, and adjusts its accounts monthly. July 1 Purchased equipment, paying...
At June 30, 2017, the end of its most recent fiscal year, Sheffield Computer Consultants’ post-closing...
At June 30, 2017, the end of its most recent fiscal year, Sheffield Computer Consultants’ post-closing trial balance was as follows: Debit Credit Cash $5,540 Accounts receivable 1,270 Supplies 730 Accounts payable $420 Unearned service revenue 1,190 Common stock 3,800 Retained earnings 2,130 $7,540 $7,540 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Sheffield conducted the following transactions during July 2017, and adjusts its accounts monthly. July 1 Purchased equipment, paying...
Part B Bruce Manufacturing Ltd's post-closing trial balance at 30 June 2019 included the following balances:...
Part B Bruce Manufacturing Ltd's post-closing trial balance at 30 June 2019 included the following balances: Machinery Control (at cost) $244 480 Accumulated Depreciation - Machinery Control 113 800 Fixtures (at cost) 308 600 Accumulated Depreciation - Fixtures 134 138 The Machinery Control and Accumulated Depreciation - Machinery Control accounts are supported by subsidiary ledgers. Details of machines owned at 30 June 2019 are as follows: Machine Purchase Cost Estimated Estimated date useful Life residual value 1 28 Apr 2015...
Find income summary and retained earnings for CLOSING ENTRIES to complete closing process. At June 30,...
Find income summary and retained earnings for CLOSING ENTRIES to
complete closing process.
At June 30, 2017, the end of its most recent fiscal year, Bridgeport Computer Consultants' post-closing trial balance was as follows: Debit Credit 4,180 960 550 Cash Accounts receivable Supplies Accounts payable Unearned service revenue Common stock Retained earnings $ 320 900 2,900 1,570 $ 5,690 $5,690 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Bridgeport conducted the...
Only need to answer WORKSHEET, POST CLOSING TRIAL BALANCE AND CLOSING ENTRIES JOURNAL. Complete all steps...
Only need to answer WORKSHEET, POST CLOSING TRIAL BALANCE AND
CLOSING ENTRIES JOURNAL.
Complete all steps in accounting cycle. (LO 1, 2, 4) P4-5A Anya Clark opened Anya's Cleaning Service on July 1, 2017. During July, the following transactions were completed. GLS July 1 1 3 12 18 Anya invested $20,000 cash in the business. Purchased used truck for $12,000, paying $4,000 cash and the balance on account. Purchased cleaning supplies for $2,100 on account. Paid $1,800 cash on a...
At June 30, 2017, the end of its most recent fiscal year, Novak
Computer Consultants’ post-closing trial balance was as
follows:
Debit
Credit
Cash
$ 4,920
Accounts receivable
1,130
Supplies
650
Accounts payable
$ 380
Unearned service revenue
1,050
Common stock
3,400
Retained earnings
1,870
$ 6,700
$ 6,700
The company underwent a major expansion in July. New staff was
hired and more financing was obtained. Novak conducted the
following transactions during July 2017, and adjusts its accounts
monthly.
July...
At June 30, 2022, the end of its most recent fiscal year,
Cheyenne Computer Consultants’ post-closing trial balance was as
follows:
Debit
Credit
Cash
$4,290
Accounts receivable
980
Supplies
570
Accounts payable
$330
Unearned service revenue
920
Common stock
3,000
Retained earnings
1,590
$5,840
$5,840
The company underwent a major expansion in July. New staff was
hired and more financing was obtained. Cheyenne conducted the
following transactions during July 2022, and adjusts its accounts
monthly.
July
1
Purchased equipment, paying...
The trial balance of Kingbird, Inc. on June 30, 2020 is as follows: Debit Credit $3.440 3,877 960 4,560 Cash Accounts receivable Supplies Equipment Accounts payable Unearned revenue Common shares Retained earnings Service revenue Salaries and wages expense Office expense $3,199 1,440 7,200 3,348 2,860 4,080 1,130 $18,047 $18,047 The following transactions took place in July 2020: 1. 2. 3. 4. 5. Payments received from customers on account amounted to $1,580. A computer printer was purchased on account for $600....
1. journalise and post the july transactions to the general
ledger
2. prepare a trial balance at july 31
Problem 4-5A Lee Chang opened Sunland's Window Washing on July 1, 2021. In July, the following transactions were completed: July 1 Invested $26,000 cash in the business. 1 Purchased a used truck for $25,800, paying $5,800 cash and signing a note payable for the balance. 1 Paid $2,800 on a one-year insurance policy, effective July 1. 5 Billed customers $4,200 for...
Prepare closing entries at June 30, 2019
Prepare a post-closing trial balance.
Ayayai Company had the following adjusted trial balance. Ayayai Company Adjusted Trial Balance For the Month Ended June 30, 2019 Adjusted Trial Balance Account Titles Credit Cash Debit $3,750 3.740 Accounts Receivable Supplies 420 Accounts Payable $1,900 Unearned Service Revenue 140 Common Stock 1,870 Retained Earnings 2,500 Dividends 440 Service Revenue 5,400 Salaries and Wages Expense 1,350 Miscellaneous Expense 210 2,300 Supplies Expense Salaries and Wages Payable 400...
At June 30, 2017, the end of its most recent fiscal year, Ayayai Computer Consultants' post-closing trial balance was as follows: Debit Credit Cash $3,870 Accounts receivable 890 Supplies 510 Accounts payable $300 Unearned service revenue 830 Common stock 2,700 Retained earnings 1440 $5,270 $5.270 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Ayayai conducted the following transactions during July 2017, and adjusts its accounts monthly. July 1 Purchased equipment, paying...
Part B Bruce Manufacturing Ltd's post-closing trial balance at 30 June 2019 included the following balances: Machinery Control (at cost) $244 480 Accumulated Depreciation - Machinery Control 113 800 Fixtures (at cost) 308 600 Accumulated Depreciation - Fixtures 134 138 The Machinery Control and Accumulated Depreciation - Machinery Control accounts are supported by subsidiary ledgers. Details of machines owned at 30 June 2019 are as follows: Machine Purchase Cost Estimated Estimated date useful Life residual value 1 28 Apr 2015...
Find income summary and retained earnings for CLOSING ENTRIES to
complete closing process.
At June 30, 2017, the end of its most recent fiscal year, Bridgeport Computer Consultants' post-closing trial balance was as follows: Debit Credit 4,180 960 550 Cash Accounts receivable Supplies Accounts payable Unearned service revenue Common stock Retained earnings $ 320 900 2,900 1,570 $ 5,690 $5,690 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Bridgeport conducted the...
Only need to answer WORKSHEET, POST CLOSING TRIAL BALANCE AND
CLOSING ENTRIES JOURNAL.
Complete all steps in accounting cycle. (LO 1, 2, 4) P4-5A Anya Clark opened Anya's Cleaning Service on July 1, 2017. During July, the following transactions were completed. GLS July 1 1 3 12 18 Anya invested $20,000 cash in the business. Purchased used truck for $12,000, paying $4,000 cash and the balance on account. Purchased cleaning supplies for $2,100 on account. Paid $1,800 cash on a...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago