Please answer the Serial questions in the attached files. Here's the Trial Balance information from the Chapter 2 Serial Problem than can be used for the problem in Chapter 3. DebitCreditCash 4,900 Supplies 100 Prepaid Insurance1,100 Equipment4,800 Accounts Payable 0Sales Revenue 5,000Common Stock 10,000Cost of Goods Sale1,750 Consulting Expense50 Insurance Expense100 Depreciation Expense100 Wage Expense1,000 Rent Expense1,200 Accumulation Depreciation 100TOTAL:15,10015,100

Since there are multiple sub parts in the question, Calculation will be given for first three sub…

Answered: 1,200 Accumulation Depreciation…

Business

Accounting

1,200 Accumulation Depreciation 100 TOTAL: 15,100 15,10

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter2: Analyzing Transactions Into Debit And Credit Parts

Section: Chapter Questions

Problem 1AP

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Read each definition below and write the number of the definition in the blank beside the appropriate term. The quiz solutions appear at the end of the chapter. Recognition Historical cost Current value Cash basis Accrual basis Revenues Revenue recognition principle Matching principle Expenses Adjusting entries Straight-line method Contra account Deferral Deferred expense Deferred revenue Accrual Accrued liability Accrued asset Accounting cycle Work sheet Real accounts Nominal accounts Closing entries Interim statements A device used at the end of the period to gather the information needed to prepare financial statements without actually recording and posting adjusting entries. Inflows of assets or settlements of liabilities from delivering or producing goods, rendering services, or conducting other activities. Journal entries made at the end of a period by a company using the accrual basis of accounting. Journal entries made at the end of the period to return the balance in all nominal accounts to zero and transfer the net income or loss and the dividends to Retained Earnings. A liability resulting from the receipt of cash before the recognition of revenue. The name given to balance sheet accounts because they are permanent and are not closed at the end of the period. An asset resulting from the recognition of a revenue before the receipt of cash. The amount of cash or its equivalent that could be received by selling an asset currently. The assignment of an equal amount of depreciation to each period. Cash has been paid or received but expense or revenue has not yet been recognized. A system of accounting in which revenues are recognized when a performance obligation is satisfied and expenses are recognized when incurred. Cash has not yet been paid or received but expense has been incurred or revenue recognized. Financial statements prepared monthly, quarterly, or at other intervals less than a year in duration. Revenues are recognized in the income statement when a performance obligation is satisfied. The process of recording an item in the financial statements as an asset, a liability, a revenue, an expense, or the like. An asset resulting from the payment of cash before the incurrence of expense. The name given to revenue, expense, and dividend accounts because they are temporary and are closed at the end of the period. A system of accounting in which revenues are recognized when cash is received and expenses are recognized when cash is paid. A liability resulting from the recognition of an expense before the payment of cash. The association of revenue of a period with all of the costs necessary to generate that revenue. An account with a balance that is opposite that of a related account. The amount paid for an asset and used as a basis for recognizing it on the balance sheet and carrying it on later balance sheets. Outflows of assets or incurrences of liabilities resulting from delivering goods, rendering services, or carrying out other activities. A series of steps performed each period and culminating with the preparation of a set of financial statements.
Indicate whether each of the following accounts has a normal debit or credit balance. A. prepaid landscaping expense B. common stock C. delivery vans D. maintenance expense E. retained earnings F. office supplies G. revenue earned H. accounts payable I. unearned painting revenue J. interest payable
Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts Payable 1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals ? $13,900 The total of all the expenses is _____________________. Group of answer choices $1,400 $1,500 $2,700 $1,300
Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts Payable 1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals ? $13,900 The total of the assets is ___________________. Group of answer choices $5,000 $10,000 $3,200 $7,000
Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts Payable 1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals ? $13,900 The total of the liabilities is ______________. Group of answer choices 8,800 1,500 1,200 2,700
Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts Payable 1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals ? $13,900 The total of the debits in the unadjusted trial balance should be __________________. Group of answer choices $10,000 $13,900 $$3,200 $13,000
Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts Payable 1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals ? $13,900 The total amount of revenue is _______________________. Group of answer choices $3,600 $3,200 $900 $2,700
Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts Payable 1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals ? $13,900 The amount of net income or net loss for the accounting period is ____________________. Group of answer choices $1,500 net loss $900 net loss $900 net income $3,600 net income
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) ABC Consulting is a company that provides consulting services to clients in various industries. The following are the balances taken from the trial balance: ABC Trial Balance 31/12/2022 Account Debit (SAR) Credit (SAR) Cash 10,000 - Accounts Receivable 15,000 - Supplies 5,000 - Equipment 50,000 - Accumulated Depreciation - Equipment - 10,000 Accounts Payable - 8,000 Unearned Revenue - 12,000 Common Stock - 40,000 Dividends 5,000 - Service Revenue - 60,000 Salaries Expense 25,000 - Rent Expense 10,000 - Depreciation Expense 5,000 - Supplies Expense 3,000 - Interest Expense 2,000 - Total 130,000 130,000 Required: Prepare the income statement for the year ended 31 December 2022. Prepare the statement of retained earnings for the year…
Use the following Company T adjusted trial balance to prepare the following: Adjusted Trial Balance Debit Credit Cash $25,000 Accounts Receivable 14,900 Prepaid Insurance 5,400 Land 13,500 Accounts Payable $12,400 Salaries Payable 1,500 Common Stock 32,000 Retained Earnings 10,200 Dividends 6,000 Service Revenue 60,100 Insurance Expense 7,600 Salaries Expense 39,000 Miscellaneous Expense 4,800 $116,200 $116,200 A. Prepare an income statement. B. Prepare a statement of retained earnings. C. Prepare a balance sheet (simple—unclassified). D. Prepare closing journal entries. If an amount box does not require an entry field, leave it blank. E. Prepare a post-closing trial balance. If an amount box does not require an entry field, leave it blank.
For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and (3) post the entry using T-accounts to represent ledger accounts. Use the following(partial) chart of accounts—account numbers in parentheses: Cash (101); Accounts Receivable (106); Office Supplies (124); Trucks (153); Equipment (167); Accounts Payable (201); Unearned Landscaping Revenue (236); D. Tyler, Capital (301); D. Tyler, Withdrawals (302); Landscaping Revenue (403); WagesExpense (601), and Landscaping Expense (696).
Based on the account balances below, what is the total of the debit and credit columns of the adjusted trial balance? Service revenue $5510 Equipment $7500 Cash 2725 Prepaid insurance 1295 Unearned service revenue 5390 Depreciation expense 870 Salaries and wages expense 1280 Accum. depreciation 1550 Common stock 600 Retained earnings 620 $11520 $13670 $13260 $12120

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bartleby, a Learneo, Inc. business

	Debit	Credit
Cash	4,900
Supplies	100
Prepaid Insurance	1,100
Equipment	4,800
Accounts Payable		0
Sales Revenue		5,000
Common Stock		10,000
Cost of Goods Sale	1,750
Consulting Expense	50
Insurance Expense	100
Depreciation Expense	100
Wage Expense	1,000
Rent Expense	1,200
Accumulation Depreciation		100
TOTAL:	15,100	15,100