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Please answer for the last photo:
Prepare an unadjusted trial balance. Remember debits must equal credits.
Unadjusted Trail Balance
Sports R Us
|Property,Plant & Equipment||1,06,000|
|Cost of Goods sold||8,750|
|Office Supplies Expenses|
Please answer for the last photo: Prepare an unadjusted trial balance. Remember debits must equal credits....
GENERAL LEDGER IN LAST 3 PHOTOS Post the transactions for June 1 - 30 to the General Ledger. Opening balances have been provided above. Be sure to keep running balance in each account. Case Study Full Accounting Cycle Melissa Days and Kelly Harbor formed the Corporation Sports R Us. They sell sporting goods and give lessons. They have hired you to update their transactions for the business. They have provided you with the opening balances and a list of transactions...
Journalize the June 30 adjusting entries. Explainations optional (do not post) (17 points) Check Figure $ 231,600 Adjusting entries for the month of June: Jun 30 Accrued interest on Bank Loan in the amount of $300 Jun 30 Record monthly depreciation in the amount of $2,800 Jun 30 Accrued salaries expense in the amount of $4,300 Jun 30 Used one month's worth of insurance (see June 10th's transaction) ) Jun 30 A physical count of office supplies showed $3,200 Jun...
Melissa Days and Kelly Harbor formed the Corporation Sports R Us. They sell sporting goods and give lessons. They have hired you to update their transactions for the business. They have provided you with the opening balances and a list of transactions for the month of June. The company’s Chart of Accounts is also included as shown below. Journalize the transactions for June 1 - June 30. Explanations optional Case Study Full Accounting Cycle Melissa Days and Kelly Harbor formed...
In this stage of the accounting cycle, you are asked to record closing entries in the general journal and then post them to the general ledger accounts. This step must be completed to prepare the accounts for the next accounting period. Instructions for closing entries 1) Record closing entries in the general journal. 2) Post the closing entries from the general journal to the relevant general ledger accounts 3) Record the final closing balance of each ledger account in the...
Data Table Lemontree Rental Company Trial Balance Worksheet June 30, 2018 Adjusted Trial Trial Balance Balance Account Debit Credit Debit Credit Cash $ 9,000 9,000 Accounts receivable 6,000 6,860 Interest receivable 500 Note receivable 3,900 3,900 Supplies 1,600 300 Prepaid insurance 2,600 1,400 Building 67,000 67,000 Accumulated depreciation—building $ 8,200 $ 9,300 Accounts payable 7,300 7,300 Wages payable 810 Unearned rental revenue 2,100 1,700 Common stock 15,000 15,000 Retained earnings 40,900 40,900 Dividends 3,800 3,800 Rental revenue 22,600 23,860 Interest...
In this stage of the accounting cycle, you are asked to record closing entries in the general journal and then post them to the general ledger accounts. This step must be completed to prepare the accounts for the next accounting period. GENERAL JOURNAL Date Account and Explanation Post Ref. Debit Credit Jun 30 Income Summary (select) (select) (select) (select) (select) (select) (select) (select) (select) (select) select) (select) (select) (select) (select) (Closing entry to debit the Income Summary account) Jun 30...
Now that all adjusting entries have been posted to the general ledger, you are asked to prepare the schedule of accounts receivable and the schedule of accounts payable as at June 30, 2020. The purpose of preparing the schedule of accounts receivable is to verify that the sum of the customer balances recorded in the accounts receivable subsidiary ledger is equal to the balance of the Accounts Receivable control account in the general ledger. Similarly, the purpose of the schedule...
You are now asked to journalize and post the adjusting entries after completing the worksheet. This is because, in the manual accounting system, the worksheet is not part of the journals and ledgers. Therefore completing the Adjustments column in the worksheet does not automatically update the appropriate ledger accounts. Since this practice set is a manual accounting practice set, you are still required to manually journalize the adjusting entries and post them to the general ledger as a separate step....
The following trial balance of Grouper Corporation does not balance. GROUPER CORPORATION TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $6,916 Accounts Receivable 7,660 Supplies 3,742 Equipment 7.300 Accounts Payable $8,440 Common Stock 11,500 Retained Earnings 2.900 4.678 Service Revenue Office Expense 4.220 $29.838 $27.518 An examination of the ledger shows these errors. 1. Cash received from a customer on account was recorded (both debit and credit) as $1,260 instead of $1,620. 2. The purchase on account of a computer...
Account Trial Balance Debit Credit 8,300 6,800 Adjusted Trial Balance Debit Credit $ 8,300 6,850 800 4,300 1,000 4,300 1.900 Cash Accounts receivable Interest receivable Note receivable Supplies Prepaid insurance Building Accumulated depreciation building Accounts payable Wages payable Unearned rental revenue 2,200 66,700 600 66,700 $ 9,700 6,300 11,600 6,300 850 600 19,000 Common stock Retained earnings Dividends 1,400 19,000 43,800 43,800 4,000 4,000 Rental revenue 15,600 800 16,450 1,600 Interest revenue Depreciation expense-building Supplies expense Utilities expense Wage expense...