Required informationPA4-1 (Algo) Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO4-5][The following information applies to the questions displayed below.]Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts andamounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year endedon September 30, 2021.Accounts PayableAccounts Receivable$ 591291Accumulated Depreciation891Cash291Common Stock191Deferred Revenue191Depreciation Expense291Equipment3, 191Income Tax Expense291Interest Revenue91191Notes Payable (long-term)Notes Payable (short-term)491Prepaid Rent91391Rent ExpenseRetained Earnings1,491Salaries and Wages Expense2,191Service Revenue6,173491Supplies191Supplies ExpenseTravel Expense2,591PA4-1 (Algo) Part 33. Prepare a post-closing trial balance at September 30, 2021.Next >< PrevS8of 8wwwHH WSTARBOOKS CORPORATIONPost-closing Trial BalanceDebitAccount TitlesCashAccounts ReceivableSuppliesPrepaid RentEquipmentAccumulated DepreciationAccounts PayableDeferred RevenueNotes Payable (short-term)Notes Payable (long-term)Common StockRetained EarningsService RevenueInterest RevenueTravel ExpenseSalaries and Wages ExpenseRent ExpenseDepreciation ExpenseSupplies ExpenseIncome Tax ExpenseTotals$0 $Credit0< PrevScoof 8H

Trial balance contains various ledger balances on a particular date. It forms the basis for…

! Required information PA4-1 (Algo) Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5] [The following information applies to the questions displayed below.] Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2021. Accounts Payable Accounts Receivable $591 291 Accumulated Depreciation 891 Cash 291 Common Stock 191 Deferred Revenue. 191 Depreciation Expense 291 Equipment 3, 191 Income Tax Expense 291 Interest Revenue 91 191 Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent 491 91 391 Rent Expense Retained Earnings 1,491 Salaries and Wages Expense 2,191 6,173 Service Revenue Supplies 491 191 Supplies Expense Travel Expense 2,591 PA4-1 (Algo) Part 3 3. Prepare a post-closing trial balance at September 30, 2021. Next > < Prev 8 of 8 #

! Required information PA4-1 (Algo) Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5] [The following information applies to the questions displayed below.] Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2021. Accounts Payable Accounts Receivable $591 291 Accumulated Depreciation 891 Cash 291 Common Stock 191 Deferred Revenue. 191 Depreciation Expense 291 Equipment 3, 191 Income Tax Expense 291 Interest Revenue 91 191 Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent 491 91 391 Rent Expense Retained Earnings 1,491 Salaries and Wages Expense 2,191 6,173 Service Revenue Supplies 491 191 Supplies Expense Travel Expense 2,591 PA4-1 (Algo) Part 3 3. Prepare a post-closing trial balance at September 30, 2021. Next > < Prev 8 of 8 #

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter3: Review Of A Company's Accounting System

Section: Chapter Questions

Problem 10RE: Use the information in RE3-6, (a) assuming Ringo Company makes reversing entries, prepare the...

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Use the information in RE3-6, (a) assuming Ringo Company makes reversing entries, prepare the reversing entry on January 1, and the journal entry to record the payment of the note on April 1; and (b) assuming Ringo does not make reversing entries, prepare the journal entry to record the payment of the note on April 1.
Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2021. Accounts Payable $ 591 Accounts Receivable 291 Accumulated Depreciation 891 Cash 291 Common Stock 191 Deferred Revenue 191 Depreciation Expense 291 Equipment 3,191 Income Tax Expense 291 Interest Revenue 91 Notes Payable (long-term) 191 Notes Payable (short-term) 491 Prepaid Rent 91 Rent Expense 391 Retained Earnings 1,491 Salaries and Wages Expense 2,191 Service Revenue 6,173 Supplies 491 Supplies Expense 191 Travel Expense 2,591 Prepare the closing entry required at September 30, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
ElecBooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Amounts in the list of accounts are rounded to the nearest dollar. Assume the year ended on September 30, 2020. Accounts Payable $ 341 Accounts Receivable 231 Accrued Liabilities 394 Accumulated Depreciation 340 Cash 347 Contributed Capital 191 Depreciation Expense 380 General and Administrative Expenses 397 Income Tax Expense 342 Interest Revenue 132 Long-Term Debt 236 Other Current Assets 111 Other Long-Lived Assets 581 Other Operating Expenses 237 Prepaid Expenses 134 Property and Equipment 2,262 Retained Earnings 1,565 Selling Expenses 2,725 Service Revenues 6,769 Short-Term Bank Loan 516 Store…
On the Balance Sheet, what would the Total Current Assets be for Lion Consulting? (Note: I am including the Adjusted Trial Balance below in this question to use for questions 18-23 and 40-46, but it would be easier if you refer to the separate file I provided.) Lion Consulting Adjusted Trial Balance June 30, 2019 Debit Balances Credit Balances Cash 92,000 Accounts Receivable 450,000 Merchandise Inventory 370,000 Estimated Returns Inventory 5,000 Office Supplies 10,000 Prepaid Insurance 12,000 Office Equipment 220,000 Accumulated Depreciation - Office Equip. 58,000 Store Equipment 650,000 Accumulated Depreciation - Store Equip. 87,500 Accounts Payable 38,500 Customer Refunds Payable 10,000 Salaries Payable 4,000 Note Payable (final payment due 2029)* *140,000 M.T. Lion, Capital 431,000 M.T. Lion,…
Prepare the journal entries for Oriole for this revenue arrangement on June 1, 2025 and September 30, 2025, assuming Oriole receives payment when the equiptment is delivered. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, e.g. 5,275.)
The unadjusted balance at the end of the month of the Branch Current is P567,980. The following information is provided to you. (see image below) Compute for the unadjusted balance of the Home Office Current account. In good Accounting form, please. Thank you!
4 Broadway, Incorporated’s trial balance was in balance at the end of the period and showed the following accounts: Account Balance Accounts Payable $ 20,800 Cash 41,600 Common Stock 20,100 Equipment 9,100 Land 30,700 Notes Payable 40,500 What is the balance of the credit column on Broadway's trial balance? rev: 03_16_2018_QC_CS-121922 Multiple Choice $81,400. $163,100. $60,600. $61,300.
Windsor was founded in January 2013. Presented below are adjusted and unadjusted trial balances as of December 31, 2020. (a)Journalize the annual adjusting entries that were made. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (b1) The parts of this question must be completed in order. This part will be available when you complete the part above. (b2) The parts of this question must be completed in order. This part will be available when you complete the part above. (b3) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above.
ElecBooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Amounts in the list of accounts are rounded to the nearest thousand dollars. Assume the year ended on September 30, 2020. Accounts Payable $ 311 Accounts Receivable 221 Accrued Liabilities 384 Accumulated Depreciation 330 Cash 337 Contributed Capital 181 Depreciation Expense 370 General and Administrative Expenses 387 Income Tax Expense 332 Interest Revenue 122 Long-Term Debt 226 Other Current Assets 101 Other Long-Lived Assets 551 Other Operating Expenses 227 Prepaid Expenses 124 Property and Equipment 2,232 Retained Earnings 1,535 Selling Expenses 2,695 Service Revenues 6,669 Short-Term Bank Loan 506 Store Operating Expenses 2,256 Supplies…
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, 2019ACCOUNT TITLE DEBIT CREDIT1Cash7,710.002Accounts Receivable37,935.003Prepaid Insurance7,070.004Supplies2,125.005Land108,400.006Building145,300.007Accumulated Depreciation-Building85,610.008Equipment134,800.009Accumulated Depreciation-Equipment96,100.0010Accounts Payable12,625.0011Unearned Rent6,340.0012Jan Pitman, Capital219,690.0013Jan Pitman, Drawing15,120.0014Fees Earned323,700.0015Salaries and Wages Expense196,770.0016Utilities Expense42,265.0017Advertising Expense23,135.0018Repairs Expense17,195.0019Miscellaneous Expense6,240.0020Totals744,065.00744,065.00The data needed to determine year-end adjustments are as follows:a. Unexpired insurance at October 31, $6,105.b. Supplies on hand at October 31, $485.c.…
Please see below. Please be sure to use exact terms and dates for this. Need asap please and thank you. Selected transactions for Pharoah Company are presented below in journal form (without explanations). Date Account Title Debit Credit May 5 Accounts Receivable 4,070 Service Revenue 4,070 12 Cash 1,340 Accounts Receivable 1,340 15 Cash 2,120 Service Revenue 2,120 Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.)
7. Using the appropriate window for Computerized Accounting with QuickBooks 2021, record the following transactions for April 2022. The company file was 'CH2 Lynn's Music Studio.QBW.' Apr.2 Received bill for rent of the month of April from Viewhill Realty, $600, paid immediately, Check No.1. Do not print check. Apr.2 Received a bill for a one-year insurance policy on account from Mutual Insurance Company, Invoice No. 1257, $2,500, Net 30 Days. Apr.5 Purchased furniture on account from Mills Family Furniture, Invoice No. 1257, $2,500, Net 30 Days. Apr.6 Purchased a computer system on account from Computer Town, Invoice No. X234, $3,000, Net 15 Days. Apr.9 Purchased music suppliers on account from Strings, Sheets, & Such, Invoice No. 1290, $500, Net 15 Days.