A company has the following adjusted trial balance:CashAccounts receivablePrepaid rentEquipmentAccumulated depreciation-EquipmentAccounts payableUnearned service revenueCommon stockRetained earningsService revenueInterest revenueSalaries and wages expenseDepreciation expenseRent expenseTotalO $4,700.O $8,450.O $4,350.O $5,050.DebitO $4,550.1,5002,1001003,5001506005008,4508,450After closing entries have been journalized and posted, the balance in the company's retainedearnings account will beCredit1,5001502001,0004,700800100

Net income = Revenue-expenses Net income Revenue Service Revenue 800Interest Revenue 100total…

Answered: A company has the following adjusted…

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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Given the following account balances after closing entries are posted, what is the total credit amount on the Post-Closing Trial balance (assume normal account balances)? Cash Accounts Receivable $121,000 11,500 4,700 Supplies Prepaid Rent 8,800 Land 15,500 Building 47,000 Accumulated Depreciation, Building 26,000 Accounts Payable 117,200 Salaries Payable 4,000 Unearned Rent 5,000 Notes Payable Common Stock Retained Earnings OA. $208,500 B. $182,500 OC. $158,900 OD. $56,300 6,700 47,100 2,500
Oriole Company ended its fiscal year on July 31, 2022. The company’s adjusted trial balance as of the end of its fiscal year is as follows. Oriole CompanyAdjusted Trial BalanceJuly 31, 2022 No. Account Titles Debit Credit 101 Cash $8,200 112 Accounts Receivable 9,400 157 Equipment 16,100 158 Accumulated Depreciation—Equip. $7,400 201 Accounts Payable 4,500 208 Unearned Rent Revenue 1,500 301 Owner’s Capital 44,600 306 Owner’s Drawings 15,800 400 Service Revenue 64,700 429 Rent Revenue 6,800 711 Depreciation Expense 9,300 726 Salaries and Wages Expense 55,800 732 Utilities Expense 14,900 $129,500 $129,500
Please help me prepare a T-Account.
M4-14 through M4-17 (Algo) Reporting an Income Statement, Reporting a Statement of Retained Earnings, Reporting a Balance Sheet and Recording Closing Journal Entries [LO 4-4, LO 4-5] Skip to question [The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash $ 1,260 Accounts Receivable 2,300 Prepaid Insurance 2,600 Notes Receivable (long-term) 3,300 Equipment 13,500 Accumulated Depreciation $ 3,200 Accounts Payable 5,720 Salaries and Wages Payable 1,150 Income Taxes Payable 3,200 Deferred Revenue 660 Common Stock 2,700 Retained Earnings 1,120 Dividends 330 Sales Revenue 44,730 Rent Revenue 330 Salaries and Wages Expense 22,200 Depreciation Expense 1,600 Utilities Expense 4,520 Insurance Expense 1,700 Rent Expense 6,300 Income Tax Expense 3,200 Total $ 62,810 $ 62,810 M4-17 (Algo)…
Revenues total P10,200, expenses total P7,300, and the owner's withdrawalk account has a balance of P2,600. What is the balance in the income summany account prior to closing net income or net loss? a. P2,900 debit b. P300 debit 6. c. P2,900 credit d. P300 credit с. Post-Closing Trial Balance Jewel Cherry, capital Cash P 54,900 35,200 Accounts receivable 10,900 3,500 Accounts payable Unearned service revenue Supplies Equipment 6,850 1,200 10,600 Land 15,400 Accumulated depreciation 7. Refer to the table; calculate the total amount in the credit column of the post- closing trial balance. a. P50,900 b. P73,300 C. P63,700 d. impossible to determine from the given data 8. Using the data in table, the balance in accumulated depreciation must be; а. Р8,050 b. Р10,200 C. P65,250 d. impossible to determine from the given data 322
What does Closing Entry #1 (clase revenues) include, based on the trial balance below for the year ending December 31, 2018? Account Cash Accounts Receivable Trucks Accumulated Depreciation Accounts Payable Wages Payable K. Wilson, Capital K. Wilson, Withdrawals Trucking Fees Earned Wages Expense Depreciation Expense Other Expenses Credit to Income Summary of $130,000 Debit to Income Summary of $130,000 O Credit to K. Wilson, Capital of $130,000 O Credit to Trucking Fees Earned of $130,000 Debit $ 96,000 17,500 172,000 Credit $ 36,000 65,000 4,000 175,000 20,000 130,000 61,000 23,500 20,000
Sandhill Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is as follows. No. 101 112 Accounts Receivable 157 Equipment 400 Cash 429 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 301 306 (a) Unearned Rent Revenue Owner's Capital Owner's Drawings Service Revenue Rent Revenue Sandhill Company Adjusted Trial Balance July 31, 2022 Account Titles 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense July 31 Date Account Titles and Explanation July 31 July 31 July 31 (To close revenue accounts) (To close expense accounts) (To close net income / (loss)) Debit (To close drawings) $8,500 9,400 16,000 16,200 6,500 56,400 Prepare the closing entries. (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 O for the amounts) 14,900 $127,900 Credit $7,400 4,500 2,500 42,600…
Blue Spruce Company ended its fiscal year on July 31.2022. The company's adjunted trial balance as of the end of is fiscal year shown as follows. Blue Spruce Company Adjusted Trial Balance July 31, 2022 No. Account Titles Debit Credit 101 Cash $10.450 112 Accounts Receivable 9.000 157 Equipment 15.500 $7.000 158 Accumulated Depreciation-Equip 4,750 201 Accounts Payable 1,500 208 Unearned Rent Revenue 19.100 311 Common Stock 27.000 320 Retained Earnings 16.500 332 Dividends 63,000 400 Service Revenue 6.000 429 Rent Revenue 201 Accounts Payable 208 Unearned Rent Revenue 4,750 1.500 311 Common Stock 19,100 320 Retained Earnings 27,000 332 Dividends 16,500 400 Service Revenue 63,000 429 Rent Revenue 6,000 711 Depreciation Expense 6,500 726 Salaries and Wages Expense 55.900 732 Utilities Expense 14,500 $128.350 $128,350
The first image is the Post Closing trial balance The second one is the format needed. Thank you!

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