The accounting records of the John Day Company contained the following ledgerItemCashBalance$14,636Notes Payable12,814Accounts receivable 29,827Accounts Payable11.421Taxes Payable197Office EquipmentCapital1,96922,00015. In preparing a trial balance, how many of the aboveOA. 5 debit accounts and 2 credit accountsO B. 2 debit accounts and 5 credit accounteOC. 4 debit accounts and 3 credit accourO D. 3 debit accounts and 4 credit acAO Mark for review (Will be highlighted on the<< Previous QuestionNext Guaslian Batas of May 31/20XXunts will you list in the debit column and how many in the credit column?& Ext

Trial balance refers to a statement or worksheet which show the balance of all debit accounts and…

15. In preparing a trial balance, how many of the above accounts will you list in the debit column and how many in the credit column? OA. 5 debit accounts and 2 credit accounts OB. 2 debit accounts and 5 credit accounts OC. 4 dobit accounts and 3 credit accounts O D. 3 debit accounts and 4 credit accounts A O Mark for review (Will be highlighted on the

15. In preparing a trial balance, how many of the above accounts will you list in the debit column and how many in the credit column? OA. 5 debit accounts and 2 credit accounts OB. 2 debit accounts and 5 credit accounts OC. 4 dobit accounts and 3 credit accounts O D. 3 debit accounts and 4 credit accounts A O Mark for review (Will be highlighted on the

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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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.)
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1. Ahmed and Ali are partners in a small business. Their partnership agreement states that net income is divided based on annual salaries of $20 000 for Ahmed and $25 000 for Ali, and an income ratio of 3:2. Calculate the net income allocation and record the journal entry, based on the following unrelated situations: (a) net income of $100 000 (b) net loss of $4 000. CALCULATIONS Ahmed Ali Total (a) Income Ratio Net Income Income Distribution Salary Net Income allocated PRIOR to ratio application Net Income to be allocated based on income ratio Share of income based on income ratio Total allocation of net income (b) Ahmed Total Income Ratio Net Loss Income Distribution Salary Net Income allocated PRIOR to ratio application Net Income to be allocated based on income ratio Share of income based on income ratio Total allocation of net income Ali
1a. Journalize the entries to record the 20Y1 transactions. Round all amounts to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles. JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 6 1b. Journalize the entries to record the 20Y2 transactions. Refer to the Chart of Accounts for exact wording of account titles. Round all amounts to the nearest dollar. JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5…
First picture is the instruction
Make a general ledger using this general journal below.
Please use the workbook page, it has the steps on how to solve the problems.
Select the best answer for the question 12. One of the primary purposes of preparing a trial balance is to O A. rearrange the accounts in alphabetical order OB. determine that the total dollar amount of the debits equals the total dollar ambam of the credits OC. ensure that the number of accounts with debit balances is equal to the number of accounts with credit balances OD. prepare the accounts for posting to the ledger # Mark for review (Will be highlighted on the review page) << Previous Question Type here to search Next Questio O
2. According to the list items below, tick (√) either the debit column or credit column based to which side of the trial balance you would expect the item to appear.Items DEBIT CREDITOffice EquipmentCreditorsInsuranceCashRent payableDebtorsSalesRent receivableDrawingsMotor vehiclesLoan from CUMB BhdCapitalWagesPremisesCarriage inwards
What should i do? Record the Contracted services of $82,500 as performed. Note: Enter debits before credits. Transaction General Journal Debit Credit 6b
Asked this question before but the answer does not allow me to scroll and see the account titles and debit/credit. Only shows a grid.
For each account, indicate whether it appears in the general ledger or the subsidiary ledger. Accounts Payable - Igwe Choose. Accounts Receivable - Ukpolo Choose. Prepaid Rent Choose. Notes Payable Choose. Store Supplies Choose. Interest Expense Choose.