The partial spreadsheet of Brady, Inc. is as follows: Brady, Inc. End-of-Period Spreadsheet For the Year Ended December 31, 2018 Unadjusted Trial Adjustments Adjusted Trial Balance Balance Dr. Account Title Cr. Dr. Cr. Cr. Dr. Cash 1,200 Accounts Receivable 2,500 (a) 500 Supplies 600 (b) 100 Prepaid Insurance 800 (c) 20 What are the balances of each account? O a. Cash, 1,200 Dr; Accounts Receivable, 2,500 Dr; Supplies, 500 Cr; Prepaid Insurance, 820 Dr O b. Cash, 1,200 Cr; Accounts Receivable, 3,000 Cr; Supplies, 700 Dr; Prepaid Insurance, 820 Cr O c. Cash, 1,200 Dr; Accounts Receivable, 3,000 Dr; Supplies, 500 Dr; Prepaid Insurance, 780 Dr 1.300 Cr Accounts Receivable, 2,000 Cr; Supplies, 700 Cr; Prepaid Insurance, 780 Cr Od Cash

The partial spreadsheet of Brady, Inc. is as follows: Brady, Inc. End-of-Period Spreadsheet For the Year Ended December 31, 2018 Unadjusted Trial Adjustments Adjusted Trial Balance Balance Dr. Account Title Cr. Dr. Cr. Cr. Dr. Cash 1,200 Accounts Receivable 2,500 (a) 500 Supplies 600 (b) 100 Prepaid Insurance 800 (c) 20 What are the balances of each account? O a. Cash, 1,200 Dr; Accounts Receivable, 2,500 Dr; Supplies, 500 Cr; Prepaid Insurance, 820 Dr O b. Cash, 1,200 Cr; Accounts Receivable, 3,000 Cr; Supplies, 700 Dr; Prepaid Insurance, 820 Cr O c. Cash, 1,200 Dr; Accounts Receivable, 3,000 Dr; Supplies, 500 Dr; Prepaid Insurance, 780 Dr 1.300 Cr Accounts Receivable, 2,000 Cr; Supplies, 700 Cr; Prepaid Insurance, 780 Cr Od Cash

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Description: The partial spreadsheet of Brady, Inc. is as follows:Brady, Inc.End-of-Period SpreadsheetFor the Year Ended December 31, 2018Unadjusted TrialBalanceAdjustmentsAdjusted Trial BalanceAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Cash1,200Accounts Receivable2,500(a)

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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2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=... A ems a < Print Item Transactions and T Accounts The following selected transactions were completed during August of the current year: 1. Billed customers for fees earned, $73,900. 2. Purchased supplies on account, $1,960. 3. Received cash from customers on account, $62,770. 4. Paid creditors on account, $820. a. Journalize these transactions in a two-column journal. If an amount box does not require an entry, leave it blank. (1) Accounts Receivable ✓ 73,900 ✓ Fees Earned (2) Supplies - ✓ Accounts Payable (3) Cash Accounts Receivable (4) Accounts Payable Cash ✓ ✓ 1,960 62,770 820 ✓ ✓ ✓ 73,900 1,960 62,770 820 ✓ b. Post the entries prepared in (a) to the following T accounts: Cash, Supplies, Accounts Receivable, Accounts Payable, Fees Earned. To the left of each amount posted in the accounts, select the appropriate number to identify the transactions. FA 00 7:33 PM 8/23/2022…
2. Journalize the entries to record the transactions, and post to the eight selected accounts. Assume that the closing entry for revenues and expenses has been made and post net income of $1,196,500 to the retained earnings account. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 6 7 8 9 10 11 12 13 14…
The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals 8. November 20 9. December 30 Requirement The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 Provide storage services for cash, $144,100, and on account, $57,200. Collect on accounts receivable, $52,500. General Journal Receive cash in advance from customers, $13,900. Purchase supplies on account, $11,200. Pay property taxes, $9,500. Pay on accounts payable, $12,400. Pay salaries, $133,600. Issue shares of common stock in exchange for $37,000 cash. Pay $3,800 cash dividends to stockholders. Insurance expired during the year is $8,000. Supplies remaining on hand at the end of the year equal $3,900. Provide services of $12,800 related to cash paid in advance by…
Use the following Adjusted Trial Balance to prepare a classified Balance Sheet: Adjusted Trial Balance. Cash 16,500 debit. Accounts receivable 17,200 debit. Supplies 2,200 debit. Prepaid insurance 2,100 debit. Equipment 14,000 debit. Accounts payable 14,200 credit. Unearned fee revenue 4,300 credit. Common stock 30,000 credit. Service fee revenue 21,500 credit. Salaries expense 12,000 debit. Rent expense 6,000 debit. Total debits and total credits 70,000.
Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. (Post entries in the order of journal entries presented in the previous part.) 7/1 Bal. 7/5 7/31 7/1 Bal 7/31 Bal. Notes Receivable 22,000 4140 400 Accounts Receivable 400 Interest Receivable 728 80 648
Appendix: Completing an End-of-Period Spreadsheet Alert Security Services Co. offers security services to business clients. Complete the following end-of-period spreadsheet for Alert Security Services Co.: If an amount box does not require an entry, leave it blank. Alert Security Services Co. End-of-Period Spreadsheet (Work Sheet) For the Year Ended October 31, 20Y7 Account Title AdjustedTrial BalanceDebit AdjustedTrial BalanceCredit Income StatementDebit Income StatementCredit Balance SheetDebit Balance SheetCredit Cash 12 fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 Accounts Receivable 103 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Supplies 4 fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 Prepaid Insurance 2 fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16 Land 190 fill in the blank 17 fill in the blank 18 fill…
Instructions X Income Statement Balance Sheet Journal spreadsheet, a part of which follows: 1. Prepare an income statement for the year ended June 30, 20Y3. Be sure to complete the 1. Prepare a balance sheet as of June 30, 20Y3. Fixed assets must be entered in order according to account number. Be sure 2. Based upon the end-of-period spreadsheet, joumalize the closing entries. Refer to the chart of accounts for the exact wording of the account titles. Finders Investigative Services statement heading. Refer to the Chart of Accounts and the list of Labels and Amount to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact CNOW joumals do not use lines for joumal explanations. Every line on a joumal page used for debit or credit entries. CNOW joumals will automatically Descriptions for the exact wording of the answer choices for text entries. Enter amounts as wording of the answer choices for text entries. You will not…
! Required information [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Debits $25,400 Credits 16,200 13,600 156,000 $7,500 6,600 151,000 46,100 Totals $211,200 $211,200 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $142,100, and on account, $56,200. Collect on accounts receivable, $52,300. Receive cash in advance from customers, $13,700. Purchase supplies on account, $10,800. Pay property taxes, $9,300. Pay on accounts payable, $12,200. Pay salaries, $131,600. Issue shares of common stock in exchange for $35,000 cash. Pay $3,600 cash dividends to stockholders. 1. 3. 6. & 10. Post the…
1. Using EXCEL => Set up "T – Accounts" for each account listed in the Campln Inc. Post-Closing Trial Balance. "T-Account" example for several accounts. Assets Cash Accounts Receivable Inventory Beg $ 750,000 Beg $ 450,000 Beg $ 1,200,000 The following Post-Closing Trial Balance is available in EXCEL. Campln Inc. Post Closing Trial Balance 12/31/2020 Debit Credit Cash 750,000 Accounts Receivable 450,000 Allowance for Doubtful Accounts $ 10,000 Prepaid Insurance 100,000 Inventory 1,200,000 Equipment 4,500,000 Accumulated Depreciation - Equipment 1,350,000 Building 850,000 Accumulated Depreciation - Building $4 250,000 Land 1,100,000 Accounts Payable Salaries Payable 375,000 50,000 1,400,000 2,250,000 6,000 Mortgage Payable $ Long-Term Debt Common Stock - Par $0.01 APIC $ 2,994,000 Retained Earnings $ 265,000 8,950,000 8,950,000 $4
9. Which of the following is recorded upon receipt of a payment on April 7, 2021, by a customer who pays a $900 invoice dated March 3, 2021, with terms 2/10, n/60? A. Debit Sales Discounts $18. B. Credit Purchase Discounts $18. C. Credit Accounts Receivable $882. D. Debit Cash $900.
INSTRUCTION: Determine the ending balances of the accounts (Cash, Supplies, Equipment, Account Payable, and Note Payable) based on the following journal entries. You may want to prepare a T-account for each account to determine the answer. See exhibit 2.11 on textbook page 66 for examples of how this is done. DR CR a) Cash $3,900.00 Note Payable $ 3,900.00 b) Equipment $1,000.00 Note Payable $ 1,000.00 c) Supplies $300.00 Cash $300.00 d) Supplies $700.00 Account Payable $700.00 e) Note Payable $900.00 Cash $900.00 For example, The ending balance of the 'Equipment' account is $1000 DR(There is only one debit entry for equipment-see…
For the month ended September 30, 2021 Statement of Comprehensive Income (SCI) Statement of Financial Position Unadjusted Trial Balance Adjusting Enties Adjusted Trial Balance Adjusting Entries 1 Insurance Expense (SFP) Debit Credit Debit 798,983.00 Credit Debit Debit Credit Credit Debit Credit Debit Credit 500 Cash 500.00 798,483.00 Prepaid Insurance 500 97,500.00 2 Bad Debts Expense Accounts Receivable 975 Allowance for Bad Debts 975.00 Allowance for Bad Debts 975 Merchandise Inventory 3 Supplies Expense 23.000.00 1000 Supplies 4,250.00 1,000.00 Supplies 4 Depreciation Expense Accumulated Depreciation-DE 1000 Prepaid Insurance Delivery Equipment 6,000.00 500.00 2083 250,000.00 2083 Accumulated Depreciation-DE 2,083.00 Accounts Payable 256,000.00 5 Credit Card Fee 500 Sales Tax Payable 2,814.00 Cash 500 Steve Senior, Capital 250.000.00 5058 5058 Steve Senior, Drawing 1,200.00 Income Summary Sales 682,619.00 Advertising Expense 2,100.00 Credit Card Fee Expense 500.00 Insurance Expense…