Calculate the Accounts Payable balance. (Enter the balance, along with a "Bal." reference on the correct side of the T-account.) Accounts Payable May 2 8,500 21,000 May 1 May 22 13,000 1,300 May 5 7,500 May 15 400 May 23
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- SCHEDULE OF ACCOUNTS PAYABLE Based on the information provided in Problem 11-11A, prepare a schedule of accounts payable for Franks Fantasy as of July 31, 20--. Verify that the accounts payable account balance in the general ledger agrees with the schedule of accounts payable total.Brief Exercise 2-31 Debit and Credit Procedures Refer to the accounts listed below. Accounts Receivable Accounts Payable Cash Equipment Notes Payable Rent Expense Salaries Expense Service Revenue Required: For each of the accounts, indicate the normal balance of the account and the effect of a debit or a credit on the account.Cornerstone Exercise 2-23 Debit and Credit Procedures Refer ID the accounts listed below. a. Accounts Payable e. Equipment b. Accounts Receivable f. Common Stock c. Retained Earnings g. Salary Expense d. Sales h. Repair Expense Required: For each of the acmums1 complete the following table by entering the normal balance of the account (debit or credit) and the word increase or decrease in the debit and credit columns.
- Pg 37 T- Accounts Please find the missing amount on the follwoing T-Account. and explain CLEARLY and indepth (showing formula or method) on how you found the amount. Accounts Payable DRs 6/4 Transaction A 1500 6/8 Transaction C 2000 CRs Beginning Balance 3000 6/6 Transaction B UNKOWN 6/29 Transaction D 3,400 Ending Balance 6,700PA10.) Prepare journal entries to record the following transactions. Create a T-account for Interest Payable, post any entries that affect the account, and tally the ending balance for the account (assume Interest Payable beginning balance of $2,500). March 1, paid interest due on note, $2,500 2. December 31, interest accrued on note payable, $4,250Determine the ending balance of each of the following T - accounts. 160 110 2,600 9,800 360 120 3, 700 80 370 Supplies Accounts Receivable 10, 600 4,400 900 210 1, 700 210 210 160 Wages Payable Cash760 12, 800 5,100 760 860 6,600 160 1, 900
- (a) On March 1, journalize the entry to record the write-off, assuming that the direct write-off method is used. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1JOURNALACCOUNTING EQUATIONDATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY12(b) On March 1, journalize the entry to record the write-off, assuming that the allowance method is used. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1JOURNALACCOUNTING EQUATIONDATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY12Date Account Title Debit Credit May 5 Accounts Receivable 2,790 Service Revenue 2,790 12 Cash 1,190 Accounts Receivable 1,190 15 Cash 2,500 Service Revenue 2,500 Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.) Cash choose a transaction date 5/55/125/15 enter a debit amount choose a transaction date 5/55/125/15 enter a credit amount choose a transaction date 5/55/125/15 enter a debit amount choose a transaction date 5/55/125/15 enter a credit amount Accounts Receivable choose a transaction date 5/55/125/15 enter a debit…Date Account Title Debit Credit May 5 Accounts Receivable 4,540 Service Revenue 4,540 12 Cash 1,230 Accounts Receivable 1,230 15 Cash 2,570 Service Revenue 2,570
- answer the ff. journal entry with account title and explanation in a 2 columnar Ex. DATE ACCOUNT TITLE AND EXPLANATION DEBIT CREDIT JAN 1 Cash Accounts Payable To record the payment.... 1 1A. March 1, paid interest due on note, $2,900 B. December 31, interest accrued on note payable, $4,350 Prepare journal entries to record the above transactions. If an amount box does not require an entry, leave it blank. Mar.1 Dec. 31 Create a T-account for Interest Payable, post any entries that affect the account, and tally the ending balance for the account (assume Interest Payable beginning balance of $2,900). Interest Payable Beginning Balance Balancequestion General ledger Debit Credit Balance 01.11.20 50,000 31.12.20 Rental Revenue 6000 56,000 31.12.20 Rental Revenue 1800 57,800 01.01.21 Rental Revenue 6,000 51,800 Kindly show me the T Accounts for the above general ledger.