PB9, LO 5.2 Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that would result after all closing journal entries were made and posted: Adjusted Trial Balance Debit Credit Cash $ 8,625 Accounts Receivable 11,600 Accounts Payable $ 8,450 Unearned Revenue 1,500 Common Stock 10,000 Retained Earnings 12,275 Dividends 2,000 Service Revenue 97,500 Advertising Expense 2,500 Rent Expense 18,000 Utilities Expense 12,000 Wages Expense 75,000 $129,725 $129,725

PB9, LO 5.2 Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that would result after all closing journal entries were made and posted: Adjusted Trial Balance Debit Credit Cash $ 8,625 Accounts Receivable 11,600 Accounts Payable $ 8,450 Unearned Revenue 1,500 Common Stock 10,000 Retained Earnings 12,275 Dividends 2,000 Service Revenue 97,500 Advertising Expense 2,500 Rent Expense 18,000 Utilities Expense 12,000 Wages Expense 75,000 $129,725 $129,725

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter6: Receivables And Inventories

Section: Chapter Questions

Problem 6.2MBA: Allowance method Using transactions listed in £6-S. indicate the effects of each transaction on the...

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TER 8-UTS-The Political S A M7: Assignment No.1 AE CABA. e Home Edmodo e Spoliarium by Juan. W You searched for Re... W Operating Performa. in No 1 Qtn.docCx 5. 6. 7. 8. 9. 10. Open with - The balances for the accounts listed below appeared in the Adjusted Trial Balance columns of the work sheet. Indicate whether each balance should be extended to (a) the Income Statement columns or (b) the Balance Sheet columns. 2. (1) Salaries Payable (2) Fees Eamed (3) Accounts Payable (4) Felipe Ramos, Capital (5) Supplies Expense (6) Unearned Rent Felipe Ramos, Drawing Equipment (7) (8) (9) (10) (11) (12) Accounts Receivable Accumulated Depreciation Salary Expense Depreciation Expense Page Ps 25°C 99 LG
PA9. LO 5.2 Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that would result, after all closing journal entries were made and posted: Adjusted Trial Balance Debit Credit Cash $ 22,900 Prepaid Insurance Fixed Assets 4,000 44,000 Notes Payable $ 40,000 Common Stock 25,000 Retained Earnings 48,350 Dividends 22,000 Sales Revenue Automobile Expense Insurance Expense Salaries Expense Supplies Expense 150,000 26,500 20,000 122,500 1,450 $263,350 $263,350
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PB16. LO 5.4 From the following Company S adjusted trial balance, prepare the following: A. Income Statement B. Retained Earnings Statement C. Balance Sheet (simple-unclassified) D. Closing journal entries E. Post-Closing Trial Balance Adjusted Trial Balance Debit Credit Cash $ 55,200 Accounts Receivable 30,200 6,000 Prepaid Insurance Land 30,000 Accounts Payable Salaries Payable $ 14,300 6,100 Common Stock 26,000 Retained Earnings Dividends 38,900 16,500 Service Revenue Insurance Expense 211,850 24,000 Salaries Expense Miscellaneous Expense 128,350 6,900 $297,150 $297,150 A F9 F10 Book Air F7 *8 8 1 DII F8 ( 9 0 ) 0 P J F11 { [ + 11 F12 }
Use the following adjusted trial balance to answer questions 22-25.Cash $ 6,530Accounts Receivable 2,450Prepaid Expenses 880Equipment 18,490Accounts Payable 1,800Loan Payable 10,600Owner’s Equity 12,940Fees Earned 9,750Marketing Expense 1,685Rent Expense 1,960Utilities Expense 345Wages Expense 2,750Totals $35,090 $35,09022. Net income for the period is:A. $9,750B. $6,530C. $3,010D. None of these23. Total assets on the balance sheet will be:A. $35,090B. $28,350C. $9,860D. None of these24. Total liabilities on the balance sheet will be:A. $1,800B. $10,600C. $25,340D. None of these25. Owner’s Equity on the balance sheet will be $12,940.A. TrueB. False
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PA17. LO 5.4 From the following Company T adjusted trial balance, prepare the following: A. Income Statement B. Retained Earnings Statement C. Balance Sheet (simple-unclassified) D. Closing journal entries E. Post-Closing Trial Balance Adjusted Trial Balance Debit Credit Cash $ 24,000 Accounts Receivable 14,900 Prepaid Insurance 5,300 Land 13,500 Accounts Payable Salaries Payable $ 12,400 1,500 Common Stock 34,000 Retained Earnings 10,200 Dividends 5,000 Service Revenue 56,300 Insurance Expense Salaries Expense Miscellaneous Expense 7,900 39,000 4,800 $114,400 $114,400
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If Accounts Payable has debit postings of P170,000 credit postings of P140,000 and a normal ending balance of P60,000 which of the following was its beginning balance? Group of answer choices P30,000 Cr. P30,000 Dr. P90,000 Dr. P90,000 Cr.
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A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a return of $200 is granted on July 18. What amount is received as payment in full on July 24? $3.332 O $3,440 • $3,528 O $3.600