Prepare an adjusted trial balance from the föllowing adjusted account balances (assume accounts have normal balances). If an amount box does not require an entry, leave it blank. Accounts Payable $6,100 Accounts Receivable 13,000 Administrative Expense 49,600 Cash 29,100 Common Stock 14,600 Prepaid Insurance 8,900 Service Revenue 79,900 Adjusted Trial Balance Debit Credit

Prepare an adjusted trial balance from the föllowing adjusted account balances (assume accounts have normal balances). If an amount box does not require an entry, leave it blank. Accounts Payable $6,100 Accounts Receivable 13,000 Administrative Expense 49,600 Cash 29,100 Common Stock 14,600 Prepaid Insurance 8,900 Service Revenue 79,900 Adjusted Trial Balance Debit Credit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data: Unadjusted Trial Balance Account Title Debit (DR) Credit (CR) Fixed Assets $120,000 Accumulated Depreciation $24,000 Prepaid Rent $18,000 Unearned Revenue $3,500 1) Depreciation on Fixed Assets, $8,500: 2) Unexpired Prepaid Rent, $12,500: 3) Unearned Revenue, $555:
Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances). If an amount box does not require an entry, leave it blank. Accounts Payable $6,100 Accounts Receivable 13,000 Administrative Expense 49,500 Cash 29,400 Common Stock 14,800 Prepaid Insurance 9,200 Service Revenue 80,200
Consider the account balances excerpted from the unadjusted trial balance and the adjustment data. Unadjusted Trial Balance Account Title Debit Credit Fixed Assets $124,000 Accumulated Depreciation $24,100 Prepaid Rent 18,300 Unearned Revenue 4,000 A. Depreciation on fixed assets, $9,000 B. Unexpired prepaid rent, $12,700 C. Remaining balance of unearned revenue, $560 Prepare adjusting journal entries, as needed. If an amount box does not require an entry, leave it blank. A. B.. C.
Assuming the adjusted trial balance amount for each account is normal, indicate with an "X" the financial statement column to which each balance should be extended on the worksheet. Income Statement Balance Sheet Account Titles Debit Credit Debit Credit Accounts Receivable select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary Prepaid Insurance select an "X" if it is necessary select an "X" if it is necessary select an "X"…
repare an adjusted trial balance. If an amount Ledger Accounts, Adjusting Entries, Financial Statements, and Closing Entries; Optional Spreadsheet The unadjusted trial balance of Recessive Interiors at January 31, 2019, the end of the year, follows: Recessive InteriorsUnadjusted Trial BalanceJanuary 31, 2019 Account No. Debit Balances Credit Balances Cash 11 13,100 Supplies 13 8,000 Prepaid Insurance 14 7,500 Equipment 16 113,000 Accumulated Depreciation-Equipment 17 12,000 Trucks 18 90,000 Accumulated Depreciation-Trucks 19 27,100 Accounts Payable 21 4,500 Jeanne McQuay, Capital 31 126,400 Jeanne McQuay, Drawing 32 3,000 Service Revenue 41 155,000 Wages Expense 51 72,000 Rent Expense 52 7,600 Truck Expense 53 5,350 Miscellaneous Expense 59 5,450 325,000 325,000 The following additional accounts from Recessive…
Adjusting entries and adjusted trial balances Instructions Chart of Accounts Journal Adjusted Trial Balance XInstructions Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company’s accounting clerk prepared the following unadjusted trial balance: Pitman CompanyUNADJUSTED TRIAL BALANCEOctober 31, 2019 ACCOUNT TITLEDEBITCREDIT1Cash7,420.002Accounts Receivable38,115.003Prepaid Insurance7,050.004Supplies1,630.005Land114,550.006Building150,250.007Accumulated Depreciation-Building88,800.008Equipment133,200.009Accumulated Depreciation-Equipment96,605.0010Accounts Payable12,560.0011Unearned Rent7,035.0012Jan Pitman, Capital217,215.0013Jan Pitman, Drawing15,055.0014Fees Earned327,900.0015Salaries and Wages Expense194,870.0016Utilities Expense42,345.0017Advertising Expense22,335.0018Repairs Expense17,690.0019Miscellaneous Expense5,605.0020Totals750,115.00750,115.00 The data needed to determine…
The adjusted trial balance columns in the worksheet of Elliot Painting Services are as follows.ELLIOT PAINTING SERVICESWorksheet (Partial)for the year ended 30 June 2019Adjusted trial balance Income statement Balance sheetAccount Debit Credit Debit Credit Debit CreditCash at Bank 1 230Accounts Receivable 75 600Prepaid Rent 1 800Office Supplies 8 320Equipment 160 000Accum. Depr. Equip’t 25 000Accounts Payable 54 000Salaries Payable 8 760Unearned Revenue 3 430F. Elliot, Capital 101 500F. Elliot, Drawings 22 000Painting Revenue 219 650Salaries Expense 106 000Rent Expense 6 050Depreciation Expense 8 040Telephone Expense 4 020Office Supplies Used 10 080Sundry Expenses 9 200$412 340 $412 340Profit for the periodRequired:a) Complete the worksheet. (6 marks)b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of theentity’s accounting period. (4 marks)
The adjusted trial balance columns in the worksheet of Elliot Painting Services are as follows.ELLIOT PAINTING SERVICESWorksheet (Partial)for the year ended 30 June 2019Adjusted trial balance Income statement Balance sheetAccount Debit Credit Debit Credit Debit CreditCash at Bank 1 230Accounts Receivable 75 600Prepaid Rent 1 800Office Supplies 8 320Equipment 160 000Accum. Depr. Equip’t 25 000Accounts Payable 54 000Salaries Payable 8 760Unearned Revenue 3 430F. Elliot, Capital 101 500F. Elliot, Drawings 22 000Painting Revenue 219 650Salaries Expense 106 000Rent Expense 6 050Depreciation Expense 8 040Telephone Expense 4 020Office Supplies Used 10 080Sundry Expenses 9 200Profit for the period_ debit is $412340 and credit is $412340Required:a) Complete the worksheet. b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of the entity’s accounting period.
The adjusted trial balance columns in the worksheet of Elliot Painting Services are as follows.ELLIOT PAINTING SERVICESWorksheet (Partial)for the year ended 30 June 2019Adjusted trial balance Income statement Balance sheetAccount Debit Credit Debit Credit Debit CreditCash at Bank 1 230Accounts Receivable 75 600Prepaid Rent 1 800Office Supplies 8 320Equipment 160 000Accum. Depr. Equip’t 25 000Accounts Payable 54 000Salaries Payable 8 760Unearned Revenue 3 430F. Elliot, Capital 101 500F. Elliot, Drawings 22 000Painting Revenue 219 650Salaries Expense 106 000Rent Expense 6 050Depreciation Expense 8 040Telephone Expense 4 020Office Supplies Used 10 080Sundry Expenses 9 200$412 340 $412 340Profit for the periodRequired:a) Complete the worksheet.b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of theentity’s accounting period.
The following trial balance for Kids Play does not balance and the owner is concerned and has passed it to you for review and adjustments where applicable:Trial BalanceJune 30th, 2013AccountDebitCreditCash6,600Accounts receivable8,000Supplies600Motor vehicle89,000Accounts payable55,000Marlon Morgan: Capital50,700Marlon Brown: Withdrawal2,300Service revenue4,500Salary4,100Rent800.111,400110,2003You have now been presented with the following list of errors and have been asked to prepare the adjusted trial balance: (journal entries are not required)a. Cash was understated by $2,000b. A $1,000 debit to accounts receivable was posted as a credit.c. A $1,400 purchase of supplies on account was omitted from the company’s books.d. Motor Vehicle cost should have been $84,300 instead of $89,000e. Salary expense was overstated by $500The following trial balance for Kids Play does not balance and the owner is concerned and has passed it to you for review and adjustments where applicable:Trial…
Prêpare a Journal Entries for Accounts Receivables. Is not a graded question If can't the part B is : what would the year-end adjusting journal entry be given the following Allow to DA 375
* Enter the opening balances in the ledger accounts as at Oct 1, Write "Balance" in the expla- nation space and insert a dollar sign ($) in the reference column, Provision should be made for the following additional accounts: No. 306 Jane Kent, Drawings, No, 126 Laundry Revenue, No. 726 Salaries Expense, and No. 732 Utilities Expense. * Journalize the transactions. * Post to the ledger accounts. * Prepare a trial balance as at Oct 31 2007 Use templates pls Thank you