Selected accounts of X Company after adjusting entries appearing in the trial balance are shown below.DRCRCashNotes ReceivableAccounts PayableSalesP 200,00050,000120,000P 80,00024,000300,0001,240,000Salaries Expense68,000What kind of trial balance is shown above?Trial Balance of BalancesPreliminary Trial BalancePost-closing Trial BalanceTrial Balance of Totals

Trial balance: Trial balance is a list of all the ledger accounts with their closing balances…

Selected accounts of X Company after adjusting entries appearing in the trial balance are shown below. CR P 80,000 24,000 300,000 1,240,000 DR P 200,000 50,000 120,000 Cash Notes Receivable Accounts Payable Sales Salaries Expense 68,000 What kind of trial balance is shown above? Trial Balance of Balances b Preliminary Trial Balance Post-closing Trial Balance Trial Balance of Totals

Selected accounts of X Company after adjusting entries appearing in the trial balance are shown below. CR P 80,000 24,000 300,000 1,240,000 DR P 200,000 50,000 120,000 Cash Notes Receivable Accounts Payable Sales Salaries Expense 68,000 What kind of trial balance is shown above? Trial Balance of Balances b Preliminary Trial Balance Post-closing Trial Balance Trial Balance of Totals

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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Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31 AccountNo. DebitBalances CreditBalances Cash 11 6,946 Accounts Receivable 12 2,302 Prepaid Expenses 13 632 Equipment 18 14,319 Accumulated Depreciation 19 1,405 Accounts Payable 21 1,499 Notes Payable 22 4,301 Bob Steely, Capital 31 15,223 Bob Steely, Drawing 32 634 Fees Earned 41 7,214 Wages Expense 51 3,364 Rent Expense 52 829 Utilities Expense 53 351 Depreciation Expense 54 172 Miscellaneous Expense 59 93 Totals 29,642 29,642 Determine the net income (loss) for the period.
The answer I was given was 3,836 which was incorrect. Could you please recalculate. Thank you.
Current Attempt in Progress Kingbird, Inc's trial balance at the end of its first month of operations reported the following accounts and amounts with normal balances: Cash Prepaid insurance Accounts receivable Accounts payable Notes payable Common stock Dividends Revenues Expenses $18240 O $35910 O $37050 O $36480 O $37620 570 2850 2280 3420 5700 570 25080 14250 Total credits on Kingbird, Inc's trial balance are
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The following selected accounts and balances were taken from the adjusted trial balance of STB Company: Cash P167,000 Accounts receivable 49,200 Accounts Payable 38,760 A. Vida, Capital 248,640 A. Vida, Withdrawal 60,000 Service Revenue 1,240,000 Interest Income 10,000 Administrative Expense 424,000 Marketing Expense 248,000 Interest Expense 8,000 REQUIRED: 1. Journalize required closing entries. 2. How much is A. Vida's ending capital balance? (Show solution)
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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 }