From the ledger balances below, prepare a trial balance for Cullumber Company at June 30, 2017. All account balances are normal.$ 1,110Accounts PayableService Revenue$8,920Cash5,510Accounts Receivable2,740Salaries and Wages ExpenseCommon Stock18,0003,630DividendsRent Expense1,5701,26013,320EquipmentCULLUMBER COMPANYTrial BalanceDebitCredit$

Trial balance list all the ledger accounts and its balance in appropriate debit and credit side.…

Answered: From the ledger balances below, prepare…

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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Compute the balance in the subsidiary accounts at the end of the month!
Blossom Company has a balance in its Accounts Receivable control account of $11,300 on January 1, 2022. The subsidiary ledger contains three accounts: Bixler Company, balance $4,200: Cuddyer Company, balance $2,200, and Freeze Company. During January the following receivable-related transactions occurred. Bixler Company Cuddyer Company Freeze Company (a) Credit Sales Collections $9,000 $7,900 2.600 8.800 7.100 8.500 Returns $0 3.000 Balance in the Freeze Company subsidiary account S 0 What is the January 1 balance in the Freeze Company subsidiary account?
At the beginning of 2018 Evan Company had a $1,958 balance in its accounts receivable account and a $448 balance in allowance for doubtful accounts. During 2018, Evan experienced the following events. (1) Earned $4,577 of revenue on account. (2) Collected $1,505 cash from accounts receivable. (3) Wrote-off $339 of accounts receivable as uncollectible. Evan estimates uncollectible accounts to be 3% of sales. Based on this information, the December 31, 2018 adjusted balance in the allowance for doubtful accounts is
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Haresh
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Prepare the balance sheet extracts as at Dec 31 2010 & 2011 to show the net realizable value for the Accounts Receivable.

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