The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. All accounts have normal balances.Accounts PayableAccounts ReceivableInvestmentCashDrawing1,5001,2002,0002,5001,200Fees EamedAnswer:Insurance ExpenseLandWages ExpenseCapitalIn the trial balance to be prepared by the company, What is the total value of the debits column?Please note to insert only a number. No signs or commas are to be used.الرجاء كتابة الرقم فقط بدون فواصل او اشارة دولار أو غيرها2,4001,3003,0001,4008,700

Trial Balance: It refers to a financial worksheet that shows or presents all the ledger balances…

The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. All accounts have normal balances. Accounts Payable Accounts Receivable Investment Cash Drawing 1,500 1,200 2,000 2,500 1,200 Fees Earned Insurance Expense Land Wages Expense Capital Answer: In the trial balance to be prepared by the company, What is the total value of the debits column? Please note to insert only a number. No signs or commas are to be used. الرجاء كتابة الرقم فقط بدون فواصل او اشارة دولار أو غيرها 2,400 1,300 3,000 1,400 8,700

The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. All accounts have normal balances. Accounts Payable Accounts Receivable Investment Cash Drawing 1,500 1,200 2,000 2,500 1,200 Fees Earned Insurance Expense Land Wages Expense Capital Answer: In the trial balance to be prepared by the company, What is the total value of the debits column? Please note to insert only a number. No signs or commas are to be used. الرجاء كتابة الرقم فقط بدون فواصل او اشارة دولار أو غيرها 2,400 1,300 3,000 1,400 8,700

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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From the accounts of DELTACOR Company, you are required to properly arrange the following accounts according to their group of accounts then: 1. Prepare the statement of financial position using the report form. 2. Prepare the supporting notes 3. Compute the ending capital of DELTA Office supplies Accounts Receivable Notes Receivable 30, 000 59,400 39,600 172,600 5,000 5, 000 247,500 6, 000 180, 000 225, 000 67, 500 72, 000 Cash Interest Receivable Allowance for bad debts Merchandise inventory Prepaid insurance Furniture and Fixtures Delivery equipment Accumulated depreciation- Fur. & Fixtures Accumulated Depreciation – Delivery Eqpt. Accrued expenses Accounts payable Notes payable (due in 2 yrs) DELTA, capital DELTA, drawing 8, 000 45, 000 105, 000 ? 50, 000 During the year, the owner made an additional investment of P20, 000 and withdrawals amounting of 50, 000. DELTA capital, beginning is 617, 600. Net income for the year is 75, 000.
Prepare a journal entry on August 13 for cash received for services rendered, $10,150. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
These accounts are among the accounts in Sportsline's adjusted trial balance in the worksheet: Accounts payable Accounts receivable Cash Equipment Notes payable Owner's Capital $13900 O $61900. $56900. O $75800. 18900 8000 30000 9600 33400 *K What are the total credits in the adjusted trial balance in the worksheet, based only on these accounts?
Which of the following journal entries will increase the total balance of the debit accounts in the ledger by $4,500? Select answer from the options below: A debit to Supplies for $4,500; a credit to Cash for $500; and a credit to Accounts Payable for $5,000. A debit to Supplies Expense for $4,500; a credit to Cash for $500; and a credit to Accounts Payable for $4,000. A debit to Accounts Payable for $4,500; and a credit to Cash for $4,500. A debit to Supplies Expense for $5,000; a credit to Cash for $500; and a credit to Accounts Payable for $4,500.
ss. Subject :- Accounting
The following are account balances of Grameen Corporation: Account Title Amount in Unadjusted Trial Balance Balance after Adjustment Interest Receivable $ -0- $100 Prepaid Insurance 1,500 700 Interest Payable -0- 80 Salaries Payable -0- 450 Unearned Rent 500 200 Required: 1. Enter the unadjusted balance for each account in the following 2. Ledger accounts: Interest Receivable, Prepaid Insurance, Interest Payable, Salaries Payable, Unearned Rent, Interest Earned, Rent Earned, Insurance Expense, Interest Expense, and Salaries Expense. 3. Do the adjusting entry that must have been recorded for each account from the following report. 4. Post these adjusting entries and agree ending balances in each ledger to the adjusted balances above. 5. Identify revenue and expense amounts for the period.
Prepare the second closing entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.
Randomly listed below are the steps for preparing a trial balance: (1) Verify that the total of the Debit column equals the total of the Credit column. (2) List the accounts from the ledger and enter their debit or credit balance in the Debit or Credit column of the trial balance. (3) List the name of the company, the title of the trial balance, and the date the trial balance is prepared. (4) Total the Debit and Credit columns of the trial balance. a.(2), (3), (4), (1) b.(4), (3), (2), (1) c.(3), (2), (4), (1) d.(3), (2), (1), (4)
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Use the following T-accounts to prepare the four journal entries required to close the books: T-Accounts. Accounts Receivable debit balance 45,500. Fees Earned Revenue credit balance 60,000. Commission expense debit balance 7,200. Supplies Expense debit balance 5,500. Wages Expense debit balance 42,000. Dividends debit balance 3,500. Retained Earnings credit balance 51,000.
Use the following T-accounts: Accounts Receivable Bal. 46,500 Fees Earned Revenue Bal. 63,000 Commission Expense Bal. 7,500 Supplies Expense Bal. 5,900 Wages Expense Bal. 47,000 Dividends Bal. 3,800 Retained Earnings Bal. 54,000 Prepare the four journal entries required to close the books. If an amount box does not require an entry, leave it blank.