Tableau DA 3-3 (Static): Mini-Case, Preparing an adjusted trial balance2. Enter the December 31 adjustments in the following table for prepaid insurance, supplies, accrued wages, accrued revenue, andunearned revenue. Then, complete the adjusted trial balance by entering the adjusted balance for each of the accounts.UnadjustedTrial BalanceAdjustmentsAdjustedTrial BalanceNo. Account TitleDr.Cr.Dr.Cr.Dr.Cr.101Cash$9,600106Accounts receivable0126 Supplies2,000128 Prepaid insurance2,400210 Wages payable236 Unearned revenue$4,000301Common stock404Revenue10,000623 Wages expense0637Insurance expense0652Supplies expense0Total$14,000$14,000

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Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 8PA: Use the following account T-balances (assume normal balances) and correct balance information to...

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Use the following account T-balances (assume normal balances) and correct balance information to make the December 31 adjusting journal entries. Unearned Service Revenue: $24,000 T-Account Balance, $10,500 Correct Balance. Supplies: $8,500 T-Account Balance, $2,600 Correct Balance. Interest Payable: $2,400 T-Account Balance, $2,000 Correct Balance.
Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file Use the following accounts as appropriate: Cash. Land. Notes Payable. Depreciation Expense. Accounts Receivable. Accumulated Depreciation. Common Stock. Salaries Expense. Supplies. Accounts Payable. Retained Earnings. Supplies Expense. Prepaid Insurance. Deferred Revenue. Dividends. Rent Expense. Equipment. Salaries Payable. Service Revenue. Insurance Expense 1-Dec: Issue common stock in exchange for cash of $6,000. 1-Dec: Paid the premium in advance on a one-year insurance policy, $480. 1-Dec: Purchased Equipment for $3,600 cash. 5-Dec: Purchased office supplies from XYZ Company on account, $400. 15-Dec: Provided services to customers for $5,400 cash. 16-Dec: Provided services to customer ABC Inc. on account, $2,500. 17-Dec: Received $800 cash in advance from a customer for services to be provided in January. 22-Dec: Paid $220 to XYZ company for the Dec 5 purchase on…
From the partial worksheet, journalize the closing entries for December 31 for A. Slow Co. Start by journalizing the closing entry for revenues. (See attached images for clearer info) Journal Entry Date Accounts PR Dr. Cr. Dec. 31 Journalize the closing entry for the expense and contra-revenue accounts. Journal Entry Date Accounts PR Dr. Cr. Dec. 31 Journalize the closing entry for the Income Summary account. Journal Entry Date Accounts PR…
From the adjusting entries below, prepare the reversing entry(ies) that would be needed for January 1. GENERAL JOURNALPage 1 DateDescriptionPostRef. DebitCreditAdjusting EntriesDec.31Work in Process Inventory17,333.00Factory Overhead17,333.0031Interest Receivable2,367.00Interest Revenue2,367.0031Office Supplies Expense6,319.00Office Supplies6,319.0031Factory Overhead15,841.00Factory Supplies15,841.0031Bad Debt Expense4,320.00Allowance for Bad Debts4,320.0031Factory Overhead1,927.00Prepaid Insurance1,927.0031Factory Overhead6,210.00Accumulated Depreciation—FactoryBuilding6,210.0031Factory Overhead14,253.00Accumulated Depreciation—FactoryEquipment14,253.00
Requirement: 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 9). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 10-12). 3. Review the adjusted 'Trial Balance' as of December 31, 2021. 4. Prepare an income statement for the period ended December 31, 2021, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2021 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 13-15). For General Journal, Prepare the journal entries for transactions. General Ledger, Each journal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Trial Balance: The ending balance values from the…
For each of the above transactions, prepare the adjusting journal entry that is required on December 31,
Prepare the Trial Balance. Use May 31 as its report date. Totals SPADE COMPANY Trial Balance May 31 Debit Credit FEPA
Use the following account T-balances (assume normal balances) and correct balance information to make the December 31 adjusting journal entries.
Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. A. depreciation on fixed assets, $ 8,500 B. unexpired prepaid rent, $12,500 C. remaining balance of unearned revenue, $555
SCHEDULE OF ACCOUNTS PAYABLE Based on the information provided in Problem 11-11A, prepare a schedule of accounts payable for Franks Fantasy as of July 31, 20--. Verify that the accounts payable account balance in the general ledger agrees with the schedule of accounts payable total.
Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. A. amount due for employee salaries, $4,800 B. actual count of supplies inventory, $ 2,300 C. depreciation on equipment, $3,000
gnment/takeAssignmentMain.do/ Which of the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of $13,187 and unexpired insurance of $4,938, for the fiscal year ending on April 30? O debit Prepaid Insurance, $8,249; credit Insurance Expense, $8,249 O debit Insurance Expense, $13,187; credit Prepaid Insurance, $13,187 O debit Prepaid Insurance, $13,187; credit Insurance Expense, $13,187 O debit Insurance Expense, $8,249; credit Prepaid Insurance, S8,249 Previous Next 明 837 PM 38 (?^ 3/8/2021

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