ash. accounts Receivable. supplies.. repaid Insurance. Office Equipment.. Accounts Payable.. Unearned Revenue.. Peyton Smith, Capital.. Peyton Smith, Drawing. Fors Earned. July Account No. 11 12 14 15 17 21 23 31 32 41 50 51 Debit Credit Balances Balances 9,945 2.750 1,020 2,700 7,500 1,750 2,800 2.550 8,350 7,200 9,000 16,200
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- * CENGAGE MINDTAP Test 4A 510 Advertising Expense ACCOUNT NO. ACCOUNT 1 POST. BALANCE DATE ITEM DEBIT CREDIT REF DEBIT CREDIT Refer to the locations identified in the previous image of a blank general ledger account. Use the numbers to answer the questions about opening the general ledger accounts. In what location will the account title be entered? In what location will the account number be entered? Post all the entries in the general journal to the general ledger. PAGE 1 DELL esc 2 51Hill Multiple Choice Question 1 of 115 Concepts completed i Consistent with accrual-basis accounting, expenses should be recognized O when cash is paid by the customer O when a binding agreement is signed O in the period when the related revenue is generated Need help? Review these concept resources. Read About the Concept Due In less than 12 hours A 37929- FABM7 - Trial mle Ba What's New Directions: ldentily the noarmal account balance of tht following accounta, Write your answerB on a separate sheet of paper. 1. Snlaries Expense 2. Canh 3. Supplica 4. Furmitur. S. Accoutits Payable 6. Makisig. Drawings 7. Buliding a. Makisig, Capitul 9. Professional Fees 10, Service Revenue 11. Accounta Recelvable 12. Notrs Peyable 13. Land 14. LanEundry Revenues 15. Uriearned Servica Revenuen II
- NOWV2 | Online teachin x + EAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator%=&inprogress=false eBook Show Me How July 31 Not 1-30 31-60 61-90 Over 90 Past Days Days Days Days Customer Balance Due Past Due Past Due Past Due Past Due Subtotals 1,050,000 600,000 220,000 115,000 ৪5,000 30,000 Boyd Industries 36,000 36,000 Hodges Company 11,500 11,500 Kent Creek Inc. 6,600 6,600 Lockwood Company 7,400 7,400 Van Epps Company 13,000 13,000 Totals 1,124,500 607,400 233,000 121,600 96,500 66,000 Percentage uncollectible 1% 3% 12% 30% 75% Allowance for Doubtful Accounts 106,106 6,074 6,990 14,592 28,950 49,500 Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $8,240 before adjustment on July 31. Journalize the adjusting entry for uncollectible accounts as of July 31. If an amount box does not requre an entry, leave it blank. 88 July 31 Next Check My Work Email Instructor Save and Exit Submit Assignment for GradinWORKSHOP NO. 7 INCOME STATEMENT AND BALANCE SHEET adjusted trial balance Trial balance adjustment INCOME STATEMENT BALANCE SHEET DEBIT DEBIT CREDIT ACCT NO. ACCOUNT NAME CREDIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT 97,430 91,340 24,000 700. 101,500. 100,000. 97 430 91,340 24,000. 700. 101,500 100,000. B101 Cash on Hand Loan Receivable Office equipment Office supplies-prepaid Savings deposit Loan payable Accounts payable EC/SSS/Payable Withholding tax payable Share capital Interest income Service fee Salaries and wages Office supplies expense Meetings and conferences Travel and transportation Power, light and water Membership fee Total 102 103 104 201 202 203 204 900. 1,100. 3,500 16,810. 2,010 900. 205 301 401 1,100. 3,500. 16,810. 2,010. 402 501 11,000. 50. 300 11,000. 50. 300 500. 502 503 504 500, 900. 505 403 900. 400. 400. 226,220 226,220, Depreciation expense Accumulated Depreciation Total 400. 506 103,a 400. 400 400.00 226,620 226.620. 400. 400.00 NET SURPLUSChapter 9 Section 9.2 Exercises 1. The simplified work sheet for P. Tang and Company, shown below with the trial balance figures already entered, is provided in the Workbook. Ba |A. Work Sheet P. Tang and Company Year Ended Dec. 31, 20–4 Pr TRIAL BALANCE ADJUSTMENTS INCOME STATEMENT BALANCE SHEET ACCOUNTS DR CR DR CR DR CR DR CR 1800 19500 1000 1750 22000 21000 Bank Accounts Receivable Supplies Prepaid Insurance Equipment Automobile Accounts Payable P.Tang, Capital P.Tang, Drawings Fees Earned Car Expense General Expense Miscellaneous Expense Rent Expense Wages Expense 4360 54040 1500 60300 3800 2950 700 7200 22000 18700 – ||8700 – A. Using the additional information given below, complete the eight-column work sheet. B. Journalize the adjusting entries in a two-column general journal. C. Post the adjusting entries to the T-account ledger provided in the Workbook and take off an adjusted trial balance. Optional D. Prepare an income statement and a classified balance sheet. Additional…
- Chapter 5 Cengage * CengageNOWv2 | Online teachin x E College Accounting, Chapters 1- x + ow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress-false O eBook Show Me How Analysis of Adjusting Entry for Supplies Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated TB.) 1. Ending inventory of supplies is $95. (Balance Sheet) Supplies 540 Adj. TB Bal. (Income Statement) Supplies Expense Adj. 2. Amount of supplies used is $280. (Balance Sheet) Supplies TB 330 Adj. Bal. (Income Statement) Supplies Expense Adj. Feedback Y Check My Work The adjusting entry for supplies is needed to record supplies used in a period and to lower the amount of supplies inventory. The Supplies accou read the question. In one question you are asked to calculate supplies used. In the other, you are given the amount of supplies used. Check My Work All work saved.Make a Crossword 8 Chapters 1, 2, 14 Terminology Review Print Share Edit Answers E 21e³d ger 4g a Fa p S S e b i ¹t account S Across afd em ✓4. Set of accounting standards that have authoritative support 8. Land lease, building mortgage ✓9. Examples: Salaries, cost of goods, shipping costs, utilities .. ✔10. The basic form of an account ✓11. Ability to pay obligations expected to become due 1 .. 7 S r ⁹expenses d ¹ividends 1 t ¹iquidity 61 n V e n 0 r y B Down 1. Increase in assets or decrease in liabilities 3. The left side of an account ✓5. Examples: Cash, property, plant, and equipment ✔6. Goods available for future sales or use in service for customers ✓7. The right side of an account12:15 1 ll LTE Back Chapter 4 Homework.xlsx Q9 E4.3 E4.4 E4.8 E4.9 E4.13 Titles ChartofAccts E4.9 (LO 4), AP The adjusted trial balance for Plevin Company is presented in E4.8 (below). Instructions Prepare an income statement, a retained eamings statement, and a balance sheet from the trial balance below. The Account names will be from the Chart of Accounts tab, and the titles will be from the Title tab. Key Chart of Accounts Titles Dates Date Drop-Down Options For the Year Ended July 31, 2022 July 31, 2022 Plevin Company Adjusted Trial Balance July 31, 2022 Accounts Debit Credit Cash 9,840 Accounts Receivable Equipment Accumulated Depreciation - Equipment Accounts Payable 8,780 15,900 7,400 4.220 Unearned Rent Revenue 1,800 Common Stock 20,000 Retained Earmings 25,200 Dividends 16,000 Service Revenue 64,000 Rent Revenue 6.500 Depreciation Expense Salaries and Wages Expense Utilities Expense Tetals 8.000 55,700 14,900 129,120 129.120 Plevin Company Income Statement Plevin Company…
- Window Help A education.wi am 1 WP NWP Assessment Player UI Application Question 28 of 42 View Policies Current Attempt in Progress In a service-type business, revenue is considered recognized when the service is performed. at the end of the year. at the end of the month. when cash is received. Save for LaterJ. Providing services for casn. On OLGE IRIO1 911 23 Identify journals OBJ. 2 of sunsyon sill inton Assuming the use of a two-column (all-purpose) general journal, a purchases journal, and a cash payments journal as illustrated in this chapter, indicate the journal in which each of the following transactions should be recorded: a. Payment of six months' rent in advance. b. Purchase of an office computer on account. 09 c. Purchase of office supplies on account. d. Adjustment to record depreciation at the end of the month. e. Adjustment to record accrued salaries at the end of the period. f. Purchase of services on account. g. Adjustment to prepaid rent at the end of the month. h. Purchase of office equipment for cash. i. Adjustment to prepaid insurance at the end of the month. j. Purchase of office supplies for cash. k. Advance payment of a one-year fire insurance policy on the office. worla voolPg 37 T- Accounts Please find the missing amount on the follwoing T-Account. and explain CLEARLY and indepth (showing formula or method) on how you found the amount. Accounts Payable DRs 6/4 Transaction A 1500 6/8 Transaction C 2000 CRs Beginning Balance 3000 6/6 Transaction B UNKOWN 6/29 Transaction D 3,400 Ending Balance 6,700