Cash 12,000 Accounts Receivable 7,800 Prepaid Rent 2,200 Equipment 23,200 Accumulated 5,300 Depreciation-Equipment Notes Payable 5,800 Accounts Payable 4,800 Owner's Capital 29,750 Owner's Drawings 3.800

Q: Balance Account Title Debit Credit Cash 21,400 Accounts Receivable 16,500 Office Supplies 9,900…

A: Liabilities includes Legal financial debt or obligation arises during the course of business…

Q: 70,500 Salary Expense Accounts Receivable 90,000 Accumulated Depreciation-Equipment 14,800 Supplies…

A: Income Statement Particulars Amount Fees Earned 175200 Less: Expenses   Salary expense…

Q: ACCOUNTT TITLE DEBIT CREDIT account payable 60,000 Account receivable 65,000 Bank 38,000 Capital…

A: Closing entries are used to transfer the balance from a temporary to a permanent account. We can say…

Q: Account Titles Debit Credit Cash in Bank 2,150 320,000 Accounts Receivable Estimated Uncollectible…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

Q: Cash P S00,000 July 1 Taxes & Licenses 82,000 200,000 42,000 6,000 5,000 30,000 3,000 July 1…

A: The cash flow statement is prepared to record the cash flow from various activities during the…

Q: Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land…

A: Cash = $9700 Accounts Receivables = 16500 Office Supplies = 2000   Current assets = Cash + Accounts…

Q: Cash 52,000 32,000 Accounts Receivable Supplies Inventory Prepaid Expenses Land Building Accumulated…

A: Formula: Net income = Revenues - Expenses.

Q: prepare closing entry

A: Closing entries are those journal entries which are passed to transfer the balances of temporary…

Q: YEAR 1 YEAR2 ASSETS CURRENT ASSETS Cash 210,000 467,550 Accounts Receivable 930,000 883,200…

A: Horizontal analysis - Horizontal Analysis is part of the analysis in which individuals get the idea…

Q: December 31 Debit $ 41,000 2,300 7,600 110,000 Account Title Credit Cash Prepaid insurance Notes…

A: The balance sheet is an essential part of the financial statement. It indicates the financial…

Q: Cash   $41,900   $34,100 Accounts Receivable   70,400   60,300 Inventory   29,900   24,000…

A: Working notes:

Q: EXHIBIT Account Balances June 1 June 30 $ 8,517 21,798 Accounts payable Accounts receivable Accrued…

A: Balance Sheet June 01, XXX ASSETS Current Assets   Accounts Receivable  $…

Q: SOUTH WESTERN REAL ESTATE BROKERS TRIAL BALANCE June 30,2020 Cash P 650,000 Accounts Receivable…

A: Final Accounts: It provides the profitability and financial position of an enterprise  to the users…

Q: Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated…

A: The balance sheet tells about the financial position of the business with assets , liabilities and…

Q: Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 48,000 48,000 Accounts Receivable 18,000 18,000…

A: Account Title and Explanation Debit Credit Fees Revenue  $155,000   C. Finley Capital…

Q: Preparing an adjusted trial balance Seth’s Tax Services had the following accounts and account…

A:

Q: A В Current Year Prior Year Cash $7,440 $8,000 Accounts receivable 54,000 18,000 Equipment, net…

A: Common Size percent

Q: cash Purchase 5,000 supplies on credit Owner invests 60,000 equipment Buys land 600,000 paying cash…

A: The accounting equation or the balance sheet equation is the fundamental accounting equation that…

Q: Use the following year-end adjusted trial balance to answer. Prepare a statement of owner’s equity…

A: Given information is: Choi’s capital account balance of $40,340 consists of a $30,340 balance from…

Q: Use the following adjusted year-end trial balance at December 31 of Wilson Trucking Company to…

A: Given: The K. Wilson, Capital account balance was $175,000 at December 31 of the prior year.

Q: Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts…

A: Current liabilities: Amounts due to be paid within one year or within one operating cycle, whichever…

Q: Debits Credits Buildings Owner's Capital 129,000 118,400 Accounts Receivable Accumulated…

A: The balance sheet is one of the important financial statements of the business which represents the…

Q: Cash P 60,000 Notes Receivable 250,000 Office Supplies 48,000 Land 300,000 Building Accumulated…

A: Formula: Net income = Revenues - Expenses

Q: Account Titles Dr. Cr. Dr. Cr. Cash 13,800 13,800 Accounts Receivable 28,300 28,300 Prepaid…

A:

Q: Account Titles Debit Credit Cash in Bank Accounts Receivable Estimated Uncollectible Account Unused…

A: Adjusting entries must be passed at the year-end to record all the expenses and incomes related to…

Q: Cash $ 25,310 C. Camry, Withdrawals 22,320 Consulting fees earned 5,200 Rent expense 43,970 Salaries…

A: Please go through the step 2.

Q: Cash P 84,000 Accounts Receivable 48,000 Accrued Service Income 13,000 Prepaid Expenses 18,000…

A: Current assets: Assets that are expected to be sold or used within one year are classified as…

Q: sets Accounts Accounts Owner's Owner's Cash + Receivable + Supplies + Equipment = Payable +_Capital…

A: The financial statements of the business include the income statement and balance sheet if the firm.

Q: Account Amount Lacson invested P100,000 cash in the a. Account debited Cash 100,000 business b.…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, are listed in…

A: The transactions of the company will be analyzed by the management, and it will be recorded in…

Q: Date General Journal Debit Credit April 01 Cash 17,000,000 Owner's Capital 17,000,000 (To record…

A: These are prepared during the posting.

Q: Problem 1-63A Income Statement, Retained Earnings Statement. and Balance SheetThe following…

A: Income Statement, Statement of Owners Equity and Balance Sheet are three important financial…

Q: Accounts Debit Credit Cash $ 12,000 Accounts Receivable 150,000 Prepaid Rent Supplies Equipment…

A: Formula: Net income = Revenues - Expenses

Q: Salaries and wages payable Salaries and wages expense Utilities expense Equipment $1,700 Notes…

A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…

Q: Date Accounts Titles   Debit Credit Dec-01 Cash   500,000     Owner's capital     500,000   to…

A: The unadjusted Trial balance has been prepared through journal entries. Adjustment entries have been…

Q: Account Title Debit 8,100 19,500 6,958 181,000 Cradit Cash Accounts receivable Office supplies…

A: Income statement is prepared by the business organizations so as to know how much amount of Gross…

Q: Account Title Debit Credit Cash Accounts receivable office supplies Trucks $ 7, 200 19,500 6,160…

A: Income Statement Particulars Amount Trucking fees earned $126,000 Less: Expenses:   Salaries…

Q: EXHIBIT 1 Account Balances June 30 $ 21,315 26,505 2,202 157,950 5,928 29,250 585,000 390,000 66,660…

A: Balance Sheet June 01, XXX ASSETS Current Assets   Accounts Receivable  $…

Q: Account Titie and Explanation Debit Credit Cash P10,060 Accounts Receivable 2,000 Prepaid Expenses…

A: In order to finalize the financial statements of the company the closing entries needs to be passed

Q: Items OMR Accounts OMR Cash 60,000 Payable 65,000 10,000 Salaries 30,000 Payable Prepaid Insurance…

A: Total assets= Total liabilities + Total equity   Where, Assets are resources from which an entity…

Q: Cash $ 7,575 Accounts Receivable 2,625 Office Supplies 440 Office Equipment Accum. Deprec. - Office…

A:

Q: DATE PARTICULARS DEBIT CREDIT P 200,000 40,000 Dec-01 Cash Equipment Candelaria Maugat, Capital To…

A: Journal Entries are posted into T-accounts. The balance of T-accounts are presented in the trial…

Q: prepare postclosing etnry

A: Post-Closing Trial Balance: After passing all the journal entries and the closing entries of the…

Q: Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land…

A: Answer: Current ratio  of Wilson trucking is  Current assets   Cash  $         9,700 Accounts…

Q: Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts…

A: Lets understand the basics. Shareholders equity includes total of common stock issued plus retained…

Q: Salary Expense Accounts Receivable Accumulated Depreciation-Equipment Supplies Equipment Fees Earned…

A: Introduction: Income statement: All revenues and expenses are shown in income statement. It tells…

Q: Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The…

A: Partnership:   It is a type of business form. Under this business form, two or more individuals…

Q: Salaries and wages payable Salaries and wages expense Utilities expense Equipment $1,700 51,800…

A: Introduction: Income statement: All revenues and expenses are to be shown in Income statement. It…