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- Pre - Ajustment Trial Balance as at 28 February 2022 Balance Sheet Accounts Section Debit Credit Capital 240 950 Drawings 114 000 Vehicle at cost 285 000 Equipment at cost 165 000 Accumulated Depreciation Vehicles 138 000 Accumulated Depreciation on Equipment 54 000 Trading Iventory 105 000 Debotors Control 48 000 Provision for bad debts 6 600 Bank 35 850 Creditors Control 61 500 Mortage Loan:Maxi Bank 16%pa 105 000 Nominal Account Section sales 742 500 Cost of sales 360 000 Sales Returns 4 500 salaries and wages 129 000 bad debts 1500 Consumable Stores 2300 Rent exspenses 34 500 Motor exspenses 26 700 bad debt recovery 1300 telephone 9 300 electricity and water 18 600 Bank charges 3700 Insurance 8100 Interest on mortage loan 7800 comission income 9000 1 358 850 1 358 850Sharp OutfittersUnadjusted Trial BalanceJuly 31, 2020 Debit $ Credit $ Cash 3750 Supplies 8600 Prepaid Insurance 3200 Equipment 95000 Accumulated Depreciation 16500 Accounts Payable 3500 Unearned rental fees 8850 C.Sharp, Capital 39000 C.Sharp, Drawing 1200 Rental fees earned 78000 Wages expenses 27800 Rent expense 3300 Advertising expense 2300 Travel expense 700 TOTAL 145850 145850 Sharp Outfitters’ fiscal year ends on July 31 and its accounts are adjusted on a monthly basis. Thefollowing additional information are available:1. Supplies on hand at July 31, amount to $3,3002. Insurance expense for the month is $6003. Depreciation for the full year is $8,2504. The unearned rental fees consist of deposits received from customers in advance when reservations aremade. During the month, $2,850 of the unearned rental fees was earned. The remaining deposits applyto rentals for August and…Sharp OutfittersUnadjusted Trial BalanceJuly 31, 2020 Debit $ Credit $ Cash 3750 Supplies 8600 Prepaid Insurance 3200 Equipment 95000 Accumulated Depreciation 16500 Accounts Payable 3500 Unearned rental fees 8850 C.Sharp, Capital 39000 C.Sharp, Drawing 1200 Rental fees earned 78000 Wages expenses 27800 Rent expense 3300 Advertising expense 2300 Travel expense 700 TOTAL 145850 145850 Sharp Outfitters’ fiscal year ends on July 31 and its accounts are adjusted on a monthly basis. Thefollowing additional information are available:1. Supplies on hand at July 31, amount to $3,3002. Insurance expense for the month is $6003. Depreciation for the full year is $8,2504. The unearned rental fees consist of deposits received from customers in advance when reservations aremade. During the month, $2,850 of the unearned rental fees was earned. The remaining deposits applyto rentals for August and…
- SHERIDAN COMPANYWorksheet (partial)For the Month Ended April 30, 2020 Adjusted Trial Balance Account Titles Dr. Cr. Cash 12,000 Accounts Receivable 7,500 Prepaid Rent 2,200 Equipment 22,800 Accumulated Depreciation—Equip. 5,100 Notes Payable 5,800 Accounts Payable 5,000 Owner’s Capital 29,440 Owner’s Drawings 3,800 Service Revenue 15,100 Salaries and Wages Expense 10,700 Rent Expense 700 Depreciation Expense 740 Interest Expense 40 Interest Payable 40 Totals 60,480 60,480' a) Mar. 31 Accounts Receivable 700 Service Revenue 700 To accrue service revenue. (b) Mar. 31 Unearned Revenue 100 Service Revenue 100 To record service revenue that was collected in advance. (c) Mar. 31 Supplies Expense 400 Office Supplies 400 To record office supplies used. (d) Mar. 31 Salaries Expense 200 Salaries Payable 200 To accrue salaries expense. (e) Mar. 31 Rent Expense 560 Prepaid Rent 560 To record rent expense. (f) Mar. 31 Depreciation Expense—Equipment 120 Accumulated Depreciation—Equipment 120 To record depreciation on equipment use the following adjustments to make a T-acct for each item,…asap!! please asap!! The following information relates to the business of Maria & Co for the year ended 31 Dec 2020. Particulars Debit Credit Rs.(000) Rs.(000) Capital account 1 Jan 2020 13,640 Building at cost 7,500 Furniture at cost 2,000 Motor cars at cost 6,300 Accumulated depreciation- Motors cars 2,370 Accumulated depreciation-Furniture 800 Accumulated depreciation –Building 450 Inventory 1 Jan 2020 6,740 Purchases…
- prepare an income using the following adjusted trial balance of billi sol companycash 13000accounts receivable 20000office supplies 10300office equipment 40500Accumulated depriciation office 22000accounts payable 11500unearned service revenue 6500long term notes payable 38000billi sol capital 11000billi sol withdrawls 10000service revenue 1100salary expenses 30000rent expenses 12300depreciation expenses 1000office suplies 3000expensesTotal 140100 140100QUASCAPE CENTRE Trial Balance as at 31 December 2020 Accounts Titles Dr. (RM) Cr. (RM) Capital 250,000 Motor vehicles 120,000 Fixtures and fittings 80,000 Accumulated depreciation: Motor vehicles 40,000 Fixtures and fittings 20,000 Water and electricity 10,200 Bad debts 11,600 Inventory (1 January 2020) 31,000 Discount received 4,200 Purchases 80,000 Sales 120,000 Cash 16,000 Bank 48,000 Salaries 20,200 Accounts receivable 37,400 Accounts payable 21,500 Drawings 1,300 Total 455,700 455,700 The following information is available to use in making adjusting entries: 1. Closing inventory at 31 December 2020 RM 70,000. 2. Water and electricity bill amounting to RM 500 still remained unpaid. 3. Interest revenue amounting to RM 1,400 has not yet been received. 4. Depreciation expense for motor vehicles RM 20,000 and…IT IS URGENTTTT Trial Balance of FRS Company’s accounts as of January 31 2020 given as follows: Trial Balance Account Title Debit Credit Cash 372850 Accounts Receivable 48500 Supplies 26000 Prepaid Insurance 10800 Inventory 16425 Equipment 46000 Accumulated Depreciation-Equipment 20000 Accounts Payable 96000 Salary Payable 0 Unearned Sales Revenue 25000 Capital 341800 Withdrawals 0 Sales Revenue 96000 Sales Returns& Allowances 7500 Sales Discounts 1650 Cost of Goods Sold 49075 Insurance Expense Depreciation Expense-Equipment Supplies Expense Salary Expense Total 578800 578800 On January 31, 2018 FRS Company completed following adjusting entries: Expiration of prepaid insurance for one month is 1800$ Depreciation of equipment for the month, $8,500…
- Accounting Cycle Journal Entries which are involved to the Business Adjusting Journal Entries Adjusting Journal Entry Date Particulars Ref Debit Credit Jan 30 2020 Supplies Expenses 408 18000 Supplies 105 18000 Jan 30 2020 Depreciation Expenses - Equipment (25000/10)*1/12 409 208 Accumulated Depreciation - Equipment 310 208 Jan 30 2020 Depreciation Expenses - Furniture and Fixtures (35000/5)*1/12 410 583 Accumulated Depreciation - Furniture and Fixtures 311 583 Jan 30 2020 Salaries Expenses 406 25000 Salary Payable 407 25000 Jan 30 2020 Insurance Expenses (20000/3*1) 408 6667 Prepaid Insurance 104 6667 Jan 30 2020 Unearned Sales Revenue 307 25000 Sales 305 25000 Jan 30 2020 Bad Debt Expenses (80000*5%) 412 4000 To Allowance for Doubtful Account 420 4000…PARRISH 4-12 LEDGER POSTINGSAccounts Payable $500Accounts Receivable $1000Accumulated Depreciation, Equipment $500Cash $600Common Stock $1200Depreciation Expense, Equipment $0Equipment $2300Insurance Expense $0Inventory $2000Prepaid Insurance $600Retained Earnings $2800Service Fee Revenues $3500Supplies $700Supplies Expense $0Wages Expense $1300Wages Payable $0 Please 1) Give the ledger name 2) Include a description 3) and if it is a debit or credit, and what the balance is. I DO NOT NEED TO KNOW WHAT FINANCIAL STATEMENT THE TRANSACTION GO ON. Please refer to the attachment to see what the answser boxes look like. I need the answers in that format. Thank you.T. Nix, Capital$ 128,300Cost of goods sold$ 108,900T. Nix, Withdrawals7,000Depreciation expense11,600Sales183,000Salaries expense39,000Sales discounts4,200Miscellaneous expenses5,000Sales returns and allowances5,200 1. Record the entry to close the income statement accounts with credit balances. 2. Record the entry to close the income statement accounts with debit balances. 3. Record the entry to close the Income Summary account. 4. Record the entry to close the Withdrawals account.
