QS 2-10 Computing T-account balance LO C4 Determine the ending balance of each of the following T-accounts. Cash Accounts Payable Beg.Bal. 150 100 Beg.Bal. 2,500 9,500 350 110 3,500 70 End.Bal. End.Bal. Supplies Accounts Receivable Beg.Bal. 10,500 4,300 Beg.Bal. 850+ 200 1,600 200 200

QS 2-10 Computing T-account balance LO C4 Determine the ending balance of each of the following T-accounts. Cash Accounts Payable Beg.Bal. 150 100 Beg.Bal. 2,500 9,500 350 110 3,500 70 End.Bal. End.Bal. Supplies Accounts Receivable Beg.Bal. 10,500 4,300 Beg.Bal. 850+ 200 1,600 200 200

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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ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT 1 Cash 5,702.00 0 0 0 5,702.00 0 0 0 5,702.00 0 1 2 Accounts Receivable 809.00 0 0 0 809.00 0 0 0 809.00 0 2 3 Supplies 551.00 0 0 240.00 311.00 0 0 0 311.00 0 3 4 Prepaid Insurance 1,320.00 0 0 545.00 775.00 0 0 0 775.00 0 4 5 Equipment 7,351.00 0 0 0 7,351.00 0 0 0 7,351.00 0 5 6 Accum. Depr., Equipment 0 2,722.00 0 740.00 0 3,462.00 0 0 0 3,462.00 6 7 Van 10,468.00 0 0 0 10,468.00 0 0 0 10,468.00 0 7 8 Accumulated Depreciation, Van 0 3,274.00 0 1,255.00 0 4,529.00 0 0 0 4,529.00 8 9 Accounts Payable 0 1,536.00 0 0 0 1,536.00 0 0 0 1,536.00 9 10 B. Vance, Capital 0 19,748.00 0 0 0 19,748.00 0 0 0 19,748.00 10 11 B. Vance, Drawing 15,880.00 0 0 0 15,880.00 0 0 0 15,880.00 0 11 12 Fees Earned 0 37,218.00 0 0 0 37,218.00 0 37,218.00 0 0 12 13 Salaries Expense 18,295.00 0 660.00 0 18,955.00 0 18,955.00 0 0 0 13 14 Advertising Expense 2,119.00 0 0 0 2,119.00 0 2,119.00 0 0 0 14 15…
Marcus has a balance of $2,600 on his credit card. The credit card has an annual interest rate of 21%, compounded monthly (1.75% each month). Marcus uses his credit card for various expenses throughout month and, at the end of each month, makes a $275 payment. Use this information to complete the table below. Round to the nearest cent as needed. 1.75% Interest Month Prior Balance on Prior Balance 2 $2600 $ 4 $50.17 $2871.83 %24 %24 3.
Name $125 2-3 WORK TOGETHER, p. 49 Analyzing revenue, expense, and withdrawal transactions into debit and credit parts Mar. 16. Receved cash oh Mar. 11. Sold Services on account to John- Debr credit. Acc Rec Johannes Credit Debt $260 Mar. 13. Recieved cash from sales Debt Credit $125 John Jensen Capital Debr Credit Mar. 14. Pad cas Debt $260 8 260 ish for telephone Bill credit Utilities expense Debt Credit Date $260 Class Mar. 19. uny
C8 EHW Question 3 of 6 View Policies Current Attempt in Progress On May 10, Coronado Industries sold merchandise for $3, 100 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank. MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 4.00% service charge for credit card sales. Prepare the entry on Coronado Industries's books to record the sale of merchandise. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
s/ui/v2/assessment-player 80 F3 $ OCT 26 4 Q F4 Question 1 of 1 The statement from Jackson County Bank on December 31 showed a balance of $26,662. A comparison of the bank statement with the Cash account revealed the following facts. 1. 2 3. Your answer is incorrect. 4 The bank collected a note receivable of $2,500 for Sheffield Corp. on December 15 through electronic funds transfer. The December 31 receipts were deposited in a night deposit vault on December 31. These depasits were recorded by the bankid January Checks outstanding on December 31 totaled $1.200. On December 31, the bank statement showed an NSF charge of $630 for a check received by the company from L. Bryan, a customer on account Prepare a bank reconciliation as of December 31 based on the available information. (Hint: The cash balance per books is $26,292. This can be proved by finding the balance in the Cash account from parts (a) and (b)) (List items that increase cash balance first Reconcile cash balance per bank…
CCT 1100 Financial Accounting 1 1/422 Summ 202 Homework: Ch 6 HW 2 Question 8, EF9-21 (similar to) Part 1 of 4 HW Score: 0%, 0 of 8 points O Points: 0 of 1 Sa At December 31, 2024, the Accounts Receivable balance of Advanced Automotive Technology is $155,000. The Allowance for Bad Debts account has a $15,360 debit balance. Advanced Automotive Technology prepares the following aging schedule for its accounts receivable: (Click the icon to view the aging schedule.) Read the requirements Requirement 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2024. Begin by determining the target balance of Allowance for Bad Debts by using the age of each account. ว Accounts Receivable о Estimated percent uncollectible Estimated total uncollectible Help me solve this Etext Age of Accounts 1-30 31-60 61-90 Over 90 Total Days S 55,000 $ 45,000 $ 25,000 02% Days Days Days Balance $ 30,000 30%…
Saved Eercise 6-14 Bank reconciliation LO P3 Nright Company's cash account shows a $31,300 debit balance and its bank statement shows $29,600 on deposit at the close of business on May 31. a. The May 31 bank statement lists $290 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $7,500. c. May 31 cash receipts of $8,100 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement. d. In reviewing the bank statement, a $590 check written by Smith Company was mistakenly drawn against Wright's account. e. The bank statement shows a $220 NSF check from a customer; the company has not yet recorded this NSF check. Prepare its bank reconciliation using the above information. WRIGHT COMPANY Bank Reconciliation May 31 Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance Adjusted book balance
5:57 l LTE Assignment Details FINANCIAL ACCOUNTING II 1221_ACC1112_OL2 What are the three classifications of receivables? Which does your company have? Look in the notes to the financial statement to find out which method they use for writing off receivables. Part 2 Dan's Hardware is a small hardware store in the rural township of Twin Bridges. It rarely extends credit to its customers in the form of an account receivable. The few customers who are allowed to carry accounts receivable are long-time residents of Twin Bridges with a history of doing business at Dan's Hardware. What method of accounting for uncollectible receivables should Dan's Hardware use? Why?
9:17 O A 51% Activity 1.3 Identify Me T-accounts State whether the following T-accounts have normal balance or not. 1. 2. CASH ACCOUNTS RECEIVABLE 12 345,000.00 10,800.00 10,000.00 3,000.00 15,000.00 8,000.00 1,000.00 13,000.00 15,000.00 20,000.00 2,000.00 6,000.00 379,000.00 11,800,00 367,200.00 4. ACCUM. DEPRN -BLDG 125.000.00 125,000.00 LAND 250,000,00 250,000.00 6. SERVICE REVENUE 5. 34,500.00 30,000.00 1,000.00 CRUZ, CAPITAL 500,000.00 500,000.00 18,000.00 83,500.00 7. 8. RENTAL EXPENSES SALARIES EXPENSE 5.000.00 6,000.00 10,000.00 1,000.00 1.000.00 9,000.00 10. INTEREST EXPENSE TAXES AND LICENSES 2,000.00 5,000.00 2,300.00 3,000.00 2,300.00
EX 9-5 Entries to write off accounts receivable OBJ. 3, 4 Creative Solutions Company, a computer consulting firm, has decided to write off the $11,750 balance of an account owed by a customer, Wil Treadwell. Journalize the entry to record the write off, assuming that (a) the dlirect write-off method is used and (b the allowance rmethod is used.
1. Assume that George Mason Medical Center has investments in a Building Replacement Fund with the following balances as of July 15, 2022 listed by category. The Investment Committee of the Board has approved a recommendation to reallocate these funds, and to include for the first-time common stocks from non-US companies. Assume that the portfolio will be rebalanced on August 1, 2022, to equal the Board's targeted desired allocation percentages. George Mason Medical Center Recommended Asset Allocation for Building Replacement Fund Rebalancing of Investment Portfolio as of July 15, 2022 Investment Description Cash and Cash Equivalents Fixed Income - Domestic Bonds Fixed Income - International Bonds Equities Large Cap Growth Equities - Large Cap Value Equities- Mid/Small Cap Growth Equities - Mid/Small Cap Value Equities International Total S Balance on 7/15/2022 12,000,000 32,000,000 10,000,000 13,000,000 25,000,000 11,000,000 12,000,000 S 115.000.000 Current Allocation % 10.4% 27.8%…