Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts
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Q: Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49:…
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Use the following Unadjusted
The total amount of revenue is _______________________.
Group of answer choices
$3,600
$3,200
$900
$2,700
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Step by step
Solved in 2 steps
- Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts Payable 1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals ? $13,900 The total of all the expenses is _____________________. Group of answer choices $1,400 $1,500 $2,700 $1,300Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts Payable 1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals ? $13,900 The total of the assets is ___________________. Group of answer choices $5,000 $10,000 $3,200 $7,000Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts Payable 1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals ? $13,900 The total of the liabilities is ______________. Group of answer choices 8,800 1,500 1,200 2,700
- Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts Payable 1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals ? $13,900 The total of the debits in the unadjusted trial balance should be __________________. Group of answer choices $10,000 $13,900 $$3,200 $13,000Use the following Unadjusted Trial Balance for Monroe Entertainment Company for questions 44 - 49: (This is the same Unadjusted Trial Balance in the module under the test review. ) Debit Credit Cash 3,200 Accounts Receivable 1,800 Prepaid Insurance 2,000 Land 3,000 Accounts Payable 1,500 J.B. Monroe, Capital 8,800 J.B. Monroe, Drawing 1,200 Fees Earned 3,600 Wages Expense 1,400 Insurance Expense 1,300 Totals ? $13,900 The amount of net income or net loss for the accounting period is ____________________. Group of answer choices $1,500 net loss $900 net loss $900 net income $3,600 net incomeThe following are income and expense items on the adjusted trial balance of NW Company: Account Debit Credit Fees Earned $18,944 Rent Expense 5,500 Wages Expense 6,178 Miscellaneous Expense 340 Which of the following will be included in the first closing entry? a.Debit to Retained Earnings for $18,944 b.Debit to Retained Earnings for $6,926 c.Credit to Retained Earnings for $18,944 d.Credit to Retained Earnings for $6,926
- Use the following account balances from the adjusted trial balance of ABC Consulting: Account Debit Balance Credit Balance Cash 24,100 Accounts Payable 2,000 B. Conway, Capital 13,000 B. Conway, Drawing 600 Fees Revenue 18,000 Salary Expense 2,600 Rent Expense 3,000 Supplies Expense 1,900 Advertising Expense 800 Select the correct closing entry that ABC Consulting would make to close their expense account(s) at the end of the accounting period. Multiple Choice debit Salary Expense $2,600; debit Rent Expense $3,000; debit Supplies Expense $1,900; debit Advertising Expense $800; and credit Income Summary $8,300 debit B. Conway, Capital $8,300; credit Salary Expense $2,600; credit Rent Expense $3,000; credit Supplies Expense $1,900; and credit Advertising Expense $800 debit Income Summary $8,300 and credit B. Conway, Capital for $8,300 debit Income Summary $8,300; credit Salary Expense $2,600; credit Rent Expense…Use the following account balances from the adjusted trial balance of ABC Consulting: Account Debit Balance Credit Balance Cash 24,100 Accounts Payable 2,000 B. Conway, Capital 13,000 B. Conway, Drawing 600 Fees Revenue 18,000 Salary Expense 2,600 Rent Expense 3,000 Supplies Expense 1,900 Advertising Expense 800 Select the correct closing entry that ABC Consulting would make to close their expense account(s) at the end of the accounting period. Multiple Choice debit Salary Expense $2,600; debit Rent Expense $3,000; debit Supplies Expense $1,900; debit Advertising Expense $800; and credit Income Summary $8,300 debit B. Conway, Capital $8,300; credit Salary Expense $2,600; credit Rent Expense $3,000; credit Supplies Expense $1,900; and credit Advertising Expense $800 debit Income Summary $8,300 and credit B. Conway, Capital for $8,300 debit Income Summary $8,300; credit Salary Expense $2,600; credit Rent Expense…Prepare an unadjusted trial balance, in correct format, from the following alphabetized account information. Assume all accounts have normal balances. Accounts payable $3,600; Accounts receivable 45,333; Building 156,000; Cash 50,480; Common Stock 110,000; Dividends 18,000; Equipment 33,500; Fees earned revenue 225,430; Land 18,000; Miscellaneous expense 5,123; Notes payable 85,500; Retained earnings 60,606; Salaries expense 151,900; Supplies 6,800.
- Use the following account balances from the adjusted trial balance of ABC Consulting: Account Debit Balance Credit Balance Cash 24,100 Accounts Payable 2,000 B. Conway, Capital 13,000 B. Conway, Drawing 600 Fees Revenue 18,000 Salary Expense 2,600 Rent Expense 3,000 Supplies Expense 1,900 Advertising Expense 800 Select the correct closing entry that ABC Consulting would make to close their revenue account(s) at the end of the accounting period. Multiple Choice debit B. Conway, Capital and credit Fees Revenue for $18,000. debit Fees Revenue and credit Income Summary for $18,000. debit Fees Revenue and credit B. Conway, Capital for $18,000. debit Income Summary and credit Fees Revenue for $18,000.The following are the trial balance and the other information related to Edward Consulting Engineer. EDWARD CONSULTING ENGINEERTRIAL BALANCEDECEMBER 31, 2020 Debit Credit Cash $29,500 Accounts Receivable 52,300 Allowance for Doubtful Accounts $799 Supplies 2,290 Prepaid Insurance 1,170 Equipment 27,800 Accumulated Depreciation-Equipment 6,614 Notes Payable 7,200 Common Stock 10,000 Retained Earnings 25,863 Service Revenue 106,761 Rent Expense 10,387 Salaries and Wages Expense 31,170 Utilities Expenses 1,850 Office Expense 770 $157,237 $157,237 1. Fees received in advance from clients $6,120, which were recorded as revenue. 2. Services performed for clients that were not recorded by December 31, $5,125. 3. Bad debt expense for the year is $1,536. 4.…''' The following are the trial balance and the other information related to Edward Consulting Engineer. EDWARD CONSULTING ENGINEERTRIAL BALANCEDECEMBER 31, 2020 Debit Credit Cash $29,500 Accounts Receivable 52,300 Allowance for Doubtful Accounts $799 Supplies 2,290 Prepaid Insurance 1,170 Equipment 27,800 Accumulated Depreciation-Equipment 6,614 Notes Payable 7,200 Common Stock 10,000 Retained Earnings 25,863 Service Revenue 106,761 Rent Expense 10,387 Salaries and Wages Expense 31,170 Utilities Expenses 1,850 Office Expense 770 $157,237 $157,237 1. Fees received in advance from clients $6,120, which were recorded as revenue. 2. Services performed for clients that were not recorded by December 31, $5,125. 3. Bad debt expense for the year is $1,536. 4.…
