HORNGREN'S FIN.+MGRL..:MANAG.CHP.-MYLAB
7th Edition
ISBN: 9780136503613
Author: MILLER-NOBLES
Publisher: PEARSON
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INMACULATA TRUCKING., INC.
On April 1, 2020, Marie France organized a business called Inmaculata Trucking. Inc. During
April, the company entered into the following transactions:
Apr 1
Marie France deposited Php 500,000 cash in a bank account in the name of the business.
Purchased for Phr 250,000 a transportation equipmentto be used in the business.
Marie France paid 50% as down payment while the balance will be paid on May 15, 2020
Apr 1
Apr 1
Paid rental forthe month of April, Php 5,000
Apr 5
Earned and collected trucking income from Eva, Php 8,000
Apr 8
Earned trucking income from Julia, Php 30,000 on account and Julia will pay on May 8, 2020
Apr 10
Paid salaries of drivers, Php 10,000
Rented the vehicle to Joshua for Php 35,000, Joshua paid Php 20,000 on that date and
the balance on April 20
Apr 15
Apr 18
Paid electric bills for the month, Php 2,000
Apr 20
Collected from Joshua the balance of his April 15 account
Apr 25
Purchased office supplies, Php 2,300
Apr 29
Earned and…
- Record the transactions in a journal using the account titles below
- Post the transaction to its individual ledger accounts
-Prepare the unjusted trial balance as of december 31 2020
Requirement:
1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 9). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.
2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 10-12).
3. Review the adjusted 'Trial Balance' as of December 31, 2021.
4. Prepare an income statement for the period ended December 31, 2021, in the 'Income Statement' tab.
5. Prepare a classified balance sheet as of December 31, 2021 in the 'Balance Sheet' tab.
6. Record the closing entries in the 'General Journal' tab (these are shown as items 13-15).
For General Journal, Prepare the journal entries for transactions.
General Ledger, Each journal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection.
Trial Balance: The ending balance values from the…
Chapter 2 Solutions
HORNGREN'S FIN.+MGRL..:MANAG.CHP.-MYLAB
Ch. 2 - The detailed record of the changes in a particular...Ch. 2 - Which of the following accounts is a liability? a....Ch. 2 - The left side of an account is used to record...Ch. 2 - Which of the following statements is correct? a....Ch. 2 - Prob. 5QCCh. 2 - Prob. 6QCCh. 2 - Posting a 2,500 purchase of office supplies on...Ch. 2 - Prob. 8QCCh. 2 - Which sequence correctly summarizes the accounting...Ch. 2 - Nathville Laundry reported assets of 800 and...
Ch. 2 - Identify the three categories of the accounting...Ch. 2 - What is the purpose of the chart of accounts?...Ch. 2 - What does a ledger show? Whats the difference...Ch. 2 - Prob. 4RQCh. 2 - Prob. 5RQCh. 2 - Prob. 6RQCh. 2 - When are credits increases? When are credits...Ch. 2 - Prob. 8RQCh. 2 - What are source documents? Provide examples of...Ch. 2 - Prob. 10RQCh. 2 - Explain the five steps in journalizing and posting...Ch. 2 - Prob. 12RQCh. 2 - Prob. 13RQCh. 2 - What is the purpose of the trial balance?Ch. 2 - Prob. 15RQCh. 2 - If total debits equal total credits on the trial...Ch. 2 - What is the calculation for the debt ratio?...Ch. 2 - Identifying accounts Consider the following...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying normal balances For each account,...Ch. 2 - Prob. 2.4SECh. 2 - Prob. 2.5SECh. 2 - Prob. 2.6SECh. 2 - Prob. 2.7SECh. 2 - Prob. 2.8SECh. 2 - Prob. 2.9SECh. 2 - Using accounting vocabulary March the accounting...Ch. 2 - Creating a chart of accounts Raymond Autobody Shop...Ch. 2 - Identifying accounts, increases in accounts, and...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying source documents For each transaction,...Ch. 2 - Analyzing and journalizing transactions As the...Ch. 2 - Prob. 2.17ECh. 2 - Prob. 2.18ECh. 2 - Analyzing transactions from T-accounts The first...Ch. 2 - Prob. 2.21ECh. 2 - Prob. 2.22ECh. 2 - Prob. 2.23ECh. 2 - Prob. 2.24ECh. 2 - Prob. 2.25ECh. 2 - Prob. 2.26ECh. 2 - Prob. 2.27ECh. 2 - Prob. 2.28ECh. 2 - Prob. 2.29APCh. 2 - Prob. 2.30APCh. 2 - Prob. 2.31APCh. 2 - Prob. 2.32APCh. 2 - Prob. 2.33APCh. 2 - Prob. 2.34APCh. 2 - Prob. 2.35BPCh. 2 - Prob. 2.36BPCh. 2 - Prob. 2.37BPCh. 2 - Prob. 2.38BPCh. 2 - Prob. 2.39BPCh. 2 - Prob. 2.40BPCh. 2 - Prob. 2.41CPCh. 2 - Prob. 2.42PSCh. 2 - Prob. 2.1CTDCCh. 2 - Prob. 2.1CTEICh. 2 - Prob. 2.1CTFCCh. 2 - Prob. 2.1CTCA
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