Presented below is the Trial Balance and Adjusted Trial Balance for Whispering Winds Company on December 31.WHISPERING WINDS COMPANYTrial BalanceDecember 31CashAccounts ReceivablePrepaid RentSuppliesEquipmentAccumulated Depreciation- EquipmentBefore AdjustmentAfter AdjustmentDr.Cr.Dr.Cr.$3,420$3,4203,1924,2182,3941,7101,36879820,52020,520$1,482$1,710

Answered: Image /qna-images/answer/9d6cafdd-dce7-4b5b-89a0-47d8df5bd8df.jpg

Answered: Presented below is the Trial Balance…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The adjusted trial balance for Crane Company is given below: CRANE COMPANYTrial BalanceAugust 31, 2022 BeforeAdjustment AfterAdjustment Dr. Cr. Dr. Cr. Cash $10,000 $10,000 Accounts Receivable 8,000 8,500 Supplies 2,500 1,500 Prepaid Insurance 4,000 2,800 Equipment 15,000 15,000 Accumulated Depreciation—Equipment $3,375 $4,575 Accounts Payable 5,000 5,000 Salaries and Wages Payable 0 1,000 Unearned Rent Revenue 1,800 1,050 Common Stock 11,000 11,000 Retained Earnings 5,000 5,000 Dividends 2,500 2,500 Service Revenue 32,000 32,500 Rent Revenue 12,000 12,750 Salaries and Wages Expense 16,000 17,000 Supplies Expense 0 1,000 Rent…
Moving to another ques uestion 12 On March 1, a customer's account balance of $32,300 was deemed to be uncollectible. What entry should be recorded on March 1 to record the write-off assuming the company uses the allowance method? O Debit Bad Debts Expense $32,300; credit Accounts Receivable $32,300 O Debit Allowance for Doubtful Accounts $32,300; credit Accounts Receivable $32,300 O Debit Accounts Receivable $32,300; credit Bad Debts Expense $32,300 O Debit Allowance for Doubtful Accounts $32,300; credit Bad Debts Expense $32,300 Question 12 of 15 >>>>
PREPARE ADJUSTED TRIAL BALANCE BY USING THE INFORMATION On December 1, 2020, Sheridan Distributing Company had the following account balances. Debit Credit Cash $7,500 Accumulated Depreciation—Equipment $2,640 Accounts Receivable 4,900 Accounts Payable 4,500 Inventory 12,200 Salaries and Wages Payable 1,000 Supplies 1,300 Owner’s Capital 44,160 Equipment 26,400 $52,300 $52,300 During December, the company : Dec. 6 Paid $1,800 for salaries and wages due employees, of which $800 is for December and $1,000 is for November salaries and wages payable. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,500. The cost of the merchandise sold was $3,900. 13 Purchased merchandise on account from Boehm Co. $9,000, terms 2/10, n/30. 15 Purchased supplies for cash $1,600. 18 Sold merchandise on account $12,800, terms 3/10, n/30. The…
part 2 prepare the Allowance for Uncollectible and the Accounts Receivable accounts based on the information presented and balance off each account
Entry for uncollectible accounts
Records show that $750 of cash receipts originally recorced as unearned admissions revenue had been earned as of December 31. Show calculations where necessary. Calculations: Date Debit Credit Db Cr
Determine the amount to be added to Allowance for Doubtful Accounts in each of the following cases and indicate the ending balance in each case. a. Credit balance of $400 in Allowance for Doubtful Accounts just prior to adjustment. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $8,710. Line Item Description Amount Amount added $fill in the blank 1 Ending balance $fill in the blank 2 b. Credit balance of $400 in Allowance for Doubtful Accounts just prior to adjustment. Bad debt expense is estimated at 2% of credit sales, which totaled $973,000 for the year. Line Item Description Amount Amount added $fill in the blank 3 Ending balance $fill in the blank 4
On November 1, 2025, the following were the account balances of Sunland Equipment Repair. Cash Accounts Receivable Supplies Equipment Nov. 8 (a) (b) (c) 10 12 15 17 20 During November, the following summary transactions were completed. 22 25 27 29 Debit $3,420 3,100 1,750 11/1 Bal. 10,630 $18,900 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Paid November rent $540. Paid salaries $1,030. Performed services on account worth $990 and billed customers. Received $780 from customers for services to be performed in the future. Credit Cash $500 3,420 2,930 400 810 Paid $1,220 for salaries due employees, of which $410 is for November and $810 is for October salaries payable. Received $1,910 cash from customers in payment of account. Received $3,790 cash for services performed in November. Purchased store equipment on account $3,970. Purchased supplies on account $1,350. Paid creditors $2,560 of accounts…
Give answer In text not image
The accounts receivable clerk for Evers Industries prepared the following partially completed aging of receivables schedule as of the end of business on July 31: 1 A B C D E F G 2 Days Past Due Days Past Due Days Past Due Days Past Due 3 Customer Balance Not Past Due 1-30 31-60 61-90 Over 90 4 Acme Industries Inc. 3,000.00 3,000.00 5 Alliance Company 4,600.00 4,600.00 6 ~~~~~ ~~~~~ ~~~~~ ~~~~~ ~~~~~ ~~~~~ ~~~~~ 7 Zollinger Company 4,900.00 4,900.00 8 Subtotals 1,052,200.00 602,500.00 219,400.00 114,100.00 85,800.00 30,400.00 The following accounts were unintentionally omitted from the aging schedule and not included in the preceding subtotals: Customer Balance Due Date Boyd Industries $44,000 April 7 Hodges Company 21,200 May 29 Kent Creek Inc. 7,300 June 8 Lockwood…
Can you please check if this is correct
The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending December 31: apr13 Wrote off account of Dean Sheppard, $8,450 may15 Received $500 as partial payment on the $7,100 account of Dan Pyle. Wrote off the remaining balance as uncollectible july27 Received $8,450 from Dean Sheppard, whose account had been written off on April 13. Reinstated the account and recorded the cash receipt. dec31 Wrote off the following accounts as uncollectible (record as one journal entry): 31. If necessary, record the year-end adjusting entry for uncollectible accounts.a. Journalize the transactions under the direct write-off method.b. Journalize the transactions under the allowance method. Shipway Company usesthe percent of credit sales method of estimating uncollectible accounts expense.Based on past history and industry averages, ¾% of credit sales are expected to beuncollectible. Shipway Company recorded $3,778,000 of…

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS