PA16. LO 5.4 From the following Company R adjusted trial balance, prepare the following: D. Closing journal entries E. Post-Closing Trial Balance A. Income Statement B. Retained Earnings Statement C. Balance Sheet (simple-unclassified) Adjusted Trial Balance Debit Credit $ 44,000 13,800 Cash Accounts Receivable Prepaid Insurance 6,400 Land 16,000 $ 14,900 4,500 31,000 10,200 Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends 12,000 Service Revenue 86,000 Insurance Expense Salaries Expense Miscellaneous Expense 7,600 32,000 14,800 $146,600 $146,600

PA16. LO 5.4 From the following Company R adjusted trial balance, prepare the following: D. Closing journal entries E. Post-Closing Trial Balance A. Income Statement B. Retained Earnings Statement C. Balance Sheet (simple-unclassified) Adjusted Trial Balance Debit Credit $ 44,000 13,800 Cash Accounts Receivable Prepaid Insurance 6,400 Land 16,000 $ 14,900 4,500 31,000 10,200 Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends 12,000 Service Revenue 86,000 Insurance Expense Salaries Expense Miscellaneous Expense 7,600 32,000 14,800 $146,600 $146,600

Name: PA16. LO 5.4 From the following Company R adjusted trial balance, pre
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Description: PA16. LO 5.4 From the following Company R adjusted trial balance, prepare the following:A. Income StatementB. Retained Earnings StatementC. Balance Sheet (simple-unclassified)D. Closing journal entriesE. Post-Closing Trial BalanceAdjusted Trial Bala

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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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)…
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Dd.83.
Use the following Adjusted Trial Balance. Adjusted Trial Balance Debit Credit Cash $16,500 Accounts Receivable 18,200 Supplies 2,000 Prepaid Insurance 2,300 Equipment 14,000 Accounts Payable $14,200 Unearned Fee Revenue 4,300 Common Stock 31,000 Service Fee Revenue 21,500 Salaries Expense 12,000 Rent Expense 6,000 $71,000 $71,000 Prepare a classified Balance Sheet. Balance Sheet December 31, 2019 Assets Current Assets: Total Current Assets Property, Plant, and Equipment: Total Assets Liabilities Current Liabilities: Total Current Liabilities Stockholders' Equity $ Total Stockholders' Equity Total Liabilities and Stockholders' Equity
Prepare correct Trial BAlance?
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Match each journal entry that follows as one of the types of journal entries. Cash 450 Journal entries Fees Earned 450 Wages Expense 870 Adjusting journal entries Choose ] ✓Closing journal entries Adjusting journal entries Journal entries [Choose] Wages Payable 870 Debit Retained Earnings 650, Credit Dividends 650 Debit Utilities Expense 589, Credit Cash 589
For the month ended September 30, 2021 Statement of Comprehensive Income (SCI) Statement of Financial Position Unadjusted Trial Balance Adjusting Enties Adjusted Trial Balance Adjusting Entries 1 Insurance Expense (SFP) Debit Credit Debit 798,983.00 Credit Debit Debit Credit Credit Debit Credit Debit Credit 500 Cash 500.00 798,483.00 Prepaid Insurance 500 97,500.00 2 Bad Debts Expense Accounts Receivable 975 Allowance for Bad Debts 975.00 Allowance for Bad Debts 975 Merchandise Inventory 3 Supplies Expense 23.000.00 1000 Supplies 4,250.00 1,000.00 Supplies 4 Depreciation Expense Accumulated Depreciation-DE 1000 Prepaid Insurance Delivery Equipment 6,000.00 500.00 2083 250,000.00 2083 Accumulated Depreciation-DE 2,083.00 Accounts Payable 256,000.00 5 Credit Card Fee 500 Sales Tax Payable 2,814.00 Cash 500 Steve Senior, Capital 250.000.00 5058 5058 Steve Senior, Drawing 1,200.00 Income Summary Sales 682,619.00 Advertising Expense 2,100.00 Credit Card Fee Expense 500.00 Insurance Expense…
View transaction list Journal entry worksheet 1 2 < 3 Note: Enter debits before credits. Transaction d. Record the wages earned but not yet paid, $670. Prepare the adjusting entry needed at December 31. Service revenue Record entry 4 5 6 General Journal Clear entry Debit Credit View general journal
6. A. Journalize the adjusting entries. Record the adjusting entries on Page 22 of the journal.* 6. B. Add the appropriate posting reference to the journal. * Refer to the Chart of Accounts for exact wording of account titles. 110 Cash $ 83,600 112 Accounts Receivable 233,900 115 Merchandise Inventory 624,400 116 Estimated Returns Inventory 28,000 117 Prepaid Insurance 16,800 118 Store Supplies 11,400 123 Store Equipment 569,500 124 Accumulated Depreciation-Store Equipment 56,700 210 Accounts Payable 96,600 211 Customers Refunds Payable 50,000 212 Salaries Payable — 310 Lynn Tolley, Capital, June 1, 2018 685,300 311 Lynn Tolley, Drawing 135,000 410 Sales 5,069,000 510 Cost of Merchandise Sold 2,823,000 520 Sales Salaries Expense 664,800 521 Advertising Expense 281,000 522 Depreciation Expense — 523 Store Supplies Expense — 529 Miscellaneous Selling Expense 12,600 530 Office Salaries Expense 382,100 531 Rent Expense 83,700 532…