The adjusted trlal balance for Salon Marketing Co. follows. Complete the four right-most columns of the table by (1) enteringInformation for the four closing entries In the middle columns and (2) completing the post-closing trial balance columns.SALON MARKETING CO.Work SheetAdjusted Trial Balance Closing Entry Information Post-Closing Trial BalanceCr.No.101 CashAccount TitleDr.Cr.Dr.Cr.Dr.9,100106 Accounts receivable153 Equipment25,00042,000154 Accumulated depreciation-Equipment183 Land201 Accounts payable209 Salaries payable222 luneamed fees$ 17,50031,00015,0004,2003,600301 E. Salon, Capital302 E. Salon, Withdrawals74,92615,400401 Marketing fees earned611 Depreciation expense-Equipment622 Salaries expense54,60012,00021,731640 Rent expense677 Miscellaneous expense901 Income summary8,2995,296Totals$ 189,828 $189,826

Adjusting entry means where some adjustment need to be made at the end of specified period for…

Answered: The adjusted trial balance for Salon…

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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The Adjusted Trial Balance columns of a 10-column work sheet for Planta Company follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period.
Please answer full question.
Prior to recording adjusting entries, the Office Supplies account had a $359 debit balance. A physical count of the supplies showed $105 of unused supplies available. The required adjusting entry is: a. Debit Office Supplies $254 and credit Office Supplies Expense $254. b. Debit Office Supplies $105 and credit Office Supplies Expense $105. c. Debit Office Supplies Expense $254 and credit Office Supplies $254. d. Debit Office Supplies Expense $105 and credit Office Supplies $105.
Enter the adjusted balances in the T-accounts.2. Write the closing entries on a journal page. Number each journal entry (e.g., CJE-1) and use proper form.
Beacons Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacons Company prepared the following end-of-period spreadsheet at December 31, 20Y5, the end of the fiscal year: Beacons Company End-of-Period Spreadsheet For the Year Ended December 31, 20Y5 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,800.00 10,800.00 Accounts Receivable 38,900.00 (a) 9,100.00 48,000.00 Prepaid Insurance 4,200.00 (b) 3,150.00 1,050.00 Supplies 2,730.00 (c) 2,180.00 550.00 Land 98,000.00 98,000.00 Building 400,000.00 400,000.00 Accumulated Depreciation-Building 205,300.00 (d) 12,000.00 217,300.00 Equipment 101,000.00 101,000.00 Accumulated Depreciation-Equipment 85,100.00 (e) 4,800.00 89,900.00 Accounts Payable 15,700.00 15,700.00 Salaries and Wages Payable (f) 5,000.00 5,000.00…
Prepare the Following: - Closing Entries - Post- Closing Trial Balance
On June 30 of the current year, Rosemount Copy Center has completed the Trial Balance columns of the work sheet. Analyze the adjustment information given here into debit and credit parts. Record the adjustments on the work sheet. Total the Adjustments columns. Adjustment Information June 30 Supplies on hand $188.00 Value of prepaid insurance 540.00 WORK SHEET For Month Ended June 30, 20-- ACCOUNT TITLE TRIAL BALANCE ADJUSTMENTS INCOME STATEMENT BALANCE SHEET DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT 1 Cash 8,715.00 1 2 Petty Cash 75.00 2 3 Accounts Receivable-Raymond O’Neil 642.00 3 4 Supplies 518.00 4 5 Prepaid Insurance 675.00 5 6 Accounts Payable-Western Supply 268.00 6 7 Akbar…
The following are income and expense items on the adjusted trial balance of NW Company: Account Debit Credit Fees Earned $18,944 Rent Expense 5,500 Wages Expense 6,178 Miscellaneous Expense 340 Which of the following will be included in the first closing entry? a.Debit to Retained Earnings for $18,944 b.Debit to Retained Earnings for $6,926 c.Credit to Retained Earnings for $18,944 d.Credit to Retained Earnings for $6,926
Instructions: -Journalize and post the closing entries. Indicate closing accounts by inserting a line in both balance columns opposite the closing entry. Insert the new balance in the capital account. -Prepare a post-closign trial balance. Using the following information: Date June General Journal Debit ($) Credit ($) 1. Cash 6,000 Accounts receivable 1,000 Supplies 1,250 Service equipment 6,200 Harry William’s Capital 14,450 2. Prepaid rent 2,400 Cash 2,400 2. Prepaid insurance 1,800 Cash 1,800 4. Service equipment 2,000 Accounts payable 2,000 6. Cash 600 Accounts receivable 600 9. Miscellaneous expense 80 Cash 80 11. Accounts payable 1,100…
The following selected accounts appear in the adjusted trial balance columns of the worksheet for Goulet Company. Identify the accounts that would be included in a post-closing trial balance. Accumulated Depreciation-Equipment NoYes Depreciation Expense NoYes Common Stock YesNo Dividends YesNo Service Revenue NoYes Supplies YesNo Accounts Payable NoYes
An accountant prepared the following post-closing trial balance: Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct

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