Prior to recording adjusting entries, the Office Supplies account had a $393 debit balance. A physical count of the supplies showed $95 ofunused supplies available. The required adjusting entry is:14Multiple ChoiceDebit Office Supplies $95 and credit Office Supplies Expense $95Debit Office Supplies Expense $95 and credit Office Supplies $95.14 of 19Next >McGrawHill< Prev457 PMa9/17/2019pe here to search

Adjusting entries are the journal entries passed at the end of the financial year to close all the…

Answered: Prior to recording adjusting entries,…

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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Hespeler services financial accounting information for the year ending October 2019 is presented below , assume all accounts have a normal balance
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22 Salaries Payable 55 Insurance Expense 23 Unearmed Fees 59 Miscellaneous Expense The post-dosing trial balance as of April 30, 2019 Required: Journalize each of the May transactions using Kelly Consulling's clhar of accounts. (Do not Insert the account rumbers in the Post. Ref. colt compound transaction, if an amount box does not require an entry, leave it blank, May 3. Receved.cash fromn clients as an advance payrment for servies to be provided and recorded it as unearned fees, s1.500. Post. Ref. 4,500 May 5: Received cash from dlients on account, $2,450. Post. Ref. Debit 2,450 May 9: Paid cash for a newspaper advertisement, $225. Post. Ref. Debit DOOdODS日 May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640. Post. Ref. Debit 640 May 15: Provided services on accournt for the period May 1-15, $9,180. Description Post. Ref. Debit 9,180 9,180 May 16: Paid part-time receptionist for two weeks' salary induding the amount owed on April 30, $750. Description Post.…
Hello, I need help with preparing the worksheet. I always have a hard time preparing one. I was able to prepare the financial statements and closing entries. Any help will greatly be appreciated. Thank You!
xamus - cdn.student.uae.examus.net/?rldbqn=1&sessi... ACCT101_FEX_2021_2_Male A company purchased merchandise on credit with terms Ac Payable if the company pays SR485 cash on this account within ten days? e18 3/15, n/3O. How much will be debited to 33 - 34 abe18ce33 b. Accounts Payable should be credited in а. 485 113:22 9 కోల С. 470.45 95abe18ce 33 d. 500 95abe18ce 95abe18ce33 95aber8ce33 95abe18ce33 95abe18ce33 95abe18ce33 MacBook Pro F3 888 F4 FS E 5 F7 67 7 V T. 8 A 9 Y 6. U 11 9.
please provide all journal entry without image thnx
Prepare A Classified balance sheet, in report format, at June 30, 2020. READY HOSPITAL SUPPLIES ADJUSTED TRIAL BALANCE AS AT JUNE 30, 2020 ACCOUNT DEBIT CREDIT 1 Cash 127,000 2 A/c receivables 151,000 3 Allowance for bad debt 19,500 4 Prepaid insurance 48,000 5 Merchandise inventory 186,000 6 Store supplies 25,000 7 Prepaid rent 14,000 8 Furniture and fixtures 800,000 9 Accumulated depreciation-furniture & fixtures 320,000 10 Computer equipment 450,000 11 Accumulated depreciation-computer equipment 21,000 12 Interest payable 36,000 13 Accounts payable 133,500 14 Salaries payable 14,000 15 Unearned sales revenue 34,000 16 Portion of loan 90,000 17 Long term loan 270,000 18 Eva Ready Capital 898,500 19 Eva Ready Withdrawals 104,000 20 Sales revenue 1,091,000 21 Gain on computer equipment 14,000 22 Interest expense 36,000 23 Sales discount 7,000 24 Insurance expense 24,000 25…
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Journalize the following transactions using the allowance method of accounting for uncollectible receivables. Apr. 1 Sold merchandise on account to Jim Dobbs, $7,770. The cost of the merchandise is $3,885. If an amount box does not require an entry, leave it blank. Apr. 1 fill in the blank 95f337068076f92_2 fill in the blank 95f337068076f92_3 fill in the blank 95f337068076f92_5 fill in the blank 95f337068076f92_6 Apr. 1 fill in the blank 95f337068076f92_8 fill in the blank 95f337068076f92_9 fill in the blank 95f337068076f92_11 fill in the blank 95f337068076f92_12 June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. If an amount box does not require an entry, leave it blank. June 10 fill in the blank becc7c06d02c06d_2 fill in the blank becc7c06d02c06d_3 fill in the blank becc7c06d02c06d_5 fill in the blank becc7c06d02c06d_6 fill in the blank becc7c06d02c06d_8 fill in the blank…
The Allowance balance is a $200 credit before adjustment. Uncollectible accounts are estimated to be $2,000. The adjusting entry to record uncollectible accounts is: GENERAL JOURNAL 1 2 1 2 Date Chapter 8-Receivables Now, the adjusting entry to record uncollectible accounts is: GENERAL JOURNAL Description a. Description If the Allowance balance started with a $200 DEBIT balance and uncollectible accounts are estimated to be $2,000. Date с. Post ref Debit Post ref Note: Bad Debt Expense estimate in the prior year was wrong, it was not an error. It was still a good faith estimate and the apparent violation of the matching principle is allowed under GAAP. Age Interval Not Past Due 1-30 days past due Debit At the end of the current year, the accounts receivable account has a debit balance of $1,400,000 and sales for the year total $15,350,000. Determine the amount of the adjustment needed. Page Credit The allowance account before adjustment has a debit balance of $23,000. Bad debt expense…
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
You are provided with the following information form the accounts of BBS Ltd for the year ending 30 June 2019Cash Sales950 000Cost of Goods Sold35 000Amount received in advance for services to be performed in August 20199 500Rent expenses for year ended 30 June 20199 000Rent Prepaid for two months to 31 August 20191 200Doubtful debts expenses1 200Amount provided in 2019 for employees’ long-service leave entitlements5 000Goodwill impairment expenses7 000Required:Calculate the taxable profit and accounting profit for the year ending 30 June 2019. my confusion : not sure if LSL will be 50%of or not?

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