The Rock Inc. has the following Trial Balance as of December 31, 2023. Use this Trial Balance to answer the remaining questions. Account Number 110 120 125 130 140 150 155 210 215 220 300 305 310 401 501 000 Cash Account Name Accounts Receivable Trial Balance Accrued Revenue Inventory Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Accrued Expenses Unearned Revenue Common Stock Retained Earnings Dividends Revenue Expenses TOTAL Prepare the Balance Sheet for The Rock, Inc. Debit 1,052,802 888,000 84,000 26,000 36,000 800,000 80,000 674,982 3,641,784 Credit 120,000 335,000 45,000 660,000 1,000,000 225,000 1,256,784 3,641,784

The Rock Inc. has the following Trial Balance as of December 31, 2023. Use this Trial Balance to answer the remaining questions. Account Number 110 120 125 130 140 150 155 210 215 220 300 305 310 401 501 000 Cash Account Name Accounts Receivable Trial Balance Accrued Revenue Inventory Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Accrued Expenses Unearned Revenue Common Stock Retained Earnings Dividends Revenue Expenses TOTAL Prepare the Balance Sheet for The Rock, Inc. Debit 1,052,802 888,000 84,000 26,000 36,000 800,000 80,000 674,982 3,641,784 Credit 120,000 335,000 45,000 660,000 1,000,000 225,000 1,256,784 3,641,784

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Description: 1TOTAL ASSETSTotal LiabilitiesTotal EquityAccountTOTAL LIABILITIES PLUS EQUITYAmount The Rock Inc. has the following Trial Balance as of December 31, 2023. Use this Trial Balance toanswer the remaining questions.Account Number11012012513014015015521

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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Listed below, in alphabetical order, are the account balances (after adjustments) from the general ledger of KS Services Limited for the year ended December 31, 2018. All accounts have normal balances. Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable $ 4,660 9,600 5,200 1,000 1,100 Cash Common shares 5,000 Depreciation expense Dividends declared Equipment Income tax expense Interest expense Other expenses Rent expense Retained earnings Salaries expense Salaries payable Service revenue 2,600 1,000 20,800 3,500 50 1,675 16,800 3,700 30,700 710 67,200 Supplies Supplies expense Unearned revenue 180 475 1,010 (a) Prepare an adjusted trial balance. (c) Calculate net income for the year. (d) Calculate total assets, liabilities, and shareholders' equity at December 31. (e) Present your answer in part (d) in the form of the basic accounting equation.
Required information [The following information applies to the questions displayed below.] The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2023. Account Title Cash. Accounts receivable Inventory Equipment Accumulated depreciation Accounts payable Accrued liabilities. Common stock Retained earnings. Sales revenue Cost of goods sold. Salaries expense Rent expense Advertising expense. Dividends Totals Debits $ 4,700 Credits 1,700 4,700 10,700 OOOOO 8 $ 21,800 The following transactions occurred during January 2024: $ 3,200 2,700 0 9,000 6,900 0 $ 21,800 January 1 Sold inventory for cash, $3,200. The cost of the inventory was $1,700. The company uses the perpetual inventory system. January 2 Purchased equipment on account for $5,200 from the Strong Company. The full amount is due in 15 days. January 4 Received a $200 invoice from the local newspaper request ing payment for an advertisement that Whitlow placed in the paper on…
1. The worksheet of the MAHA Company as follows.MAHA COMPANYWorksheet (partial) for the year ended December 31, 2018Account Title Adjusted Trial Balance Income Statement Balance SheetDebit Credit Debit Credit Debit Credit Cash 2,550 2,550 Accounts Receivables 2,040 2,040 Supplies 1,350 1,350 Prepaid Insurance 950 950 Machinery 42,500 42,500 Notes Payable 15,600 15,600Accounts Payable 3,470 3,470Capital 27,900 27,900Drawings 800 800 Service Revenue 7,100 7,100 Salaries Expenses 1,780 1,780 Miscellaneous Expenses 2,100 2,100 Net income 3,220 3,22054,070 54,070 7,100 7,100 50,190 50,190Instruction(a) Journalize the closing entries at December 31, 2018 (b) Post the closing entries to “Income Summary” and “Capital” by using “T” accounts
The account balances for Premera Blue Cross are listed below. All balances are as of December 31, 2023, except where noted otherwise. $16,500 Rent Expense $18,000 247,500 28,800 Equipment 7,800 Furniture 66,000 3,600 Notes Payable (due 12/31/25) 105,000 6,000 Accumulated Depreciation 31,350 329,250 Cash 78,000 60,000 150,000 42,450 1,200 31,350 12,600 Accounts Payable Accounts Receivable Wages Payable Prepaid Expenses Dividends Sales Revenue Notes Payable (due 4/30/24) Cost of Goods Sold Loss on Sale of Equipment Inventory Advertising Expense Insurance Expense Select one: Determine Total Current Liabilities as of December 31, 2023: a. $27,300 b. $39,900 3,000 Common Stock c. $144,900 d. $132,300 e. $247,350 158,400 Goodwill 10,500 Retained Earnings (1/1/23) 28,500 Marketable Equity Securities 9,000 Depreciation Expense 6,000 Unearned Revenue
The adjusted trial balance for CYBER Ltd. at December 31, 2022, is shown below: CYBER LTD. Adjusted Trial Balance December 31, 2022 Debit Cash.. $ 8,500 Accounts receivable.. 3,200 Supplies...... 950 Prepaid insurance. 600 Equipment.... 73,500 Accumulated depreciation-Equipment. Accounts payable.. Salaries payable Income tax payable. Common shares Retained earnings. Service revenue Salaries expense Supplies expense.. Insurance expense. Depreciation expense Utilities expense. Income tax expense Total Instructions (a) Prepare the closing journal entries required. (b) Prepare the post closing trial balance Credit $ 18,500 4,500 1,650 630 24,000 36,000 33,300 15,850 9,850 700 1,900 2,900 630 $118.580 $118.580
The trial balance columns of the worksheet for Cullumber Company at June 30, 2027, are as follows. Cash Cullumber Company Worksheet For the Month Ended June 30, 2027 Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Common Stock Service Revenue Account Titles Salaries and Wages Expense Miscellaneous Expense 1. Other data: 2, 3. MPANY Complete the worksheet. Cr. 30, 2027 Trial Balance Dr. 2,080 2,520 Accrued salaries are $290. 2,000 620 260 7,480 Dr. Cr. 1,100 A physical count reveals $500 of supplies on hand. $200 of the unearned revenue is still unearned at month-end. 420 2,960 3,000 7,480 M Income Statement Cr. II Dr. Balance Sheet IN Cr.
The account balances for Premera Blue Cross are listed below. All balances are as of December 31, 2023, except where noted otherwise. $5,500 9,600 Rent Expense Equipment 2,600 Furniture 1,200 Notes Payable (due 12/31/25) Accumulated Depreciation 2,000 109,750 Accounts Payable Accounts Receivable Wages Payable Prepaid Expenses Dividends Sales Revenue Notes Payable (due 4/30/24) Cost of Goods Sold Loss on Sale of Equipment Inventory Advertising Expense Insurance Expense Determine Total Current Assets as of December 31, 2023: $46,700 $190,750 $201,200 $45,500 $45,100 00000 1,000 52,800 3,500 9.500 3,000 2,000 Cash Common Stock Goodwill Retained Earnings (1/1/23) Marketable Equity Securities Depreciation Expense Unearned Revenue $6,000 82,500 22,000 35,000 10,450 26,000 20,000 50,000 14,150 400 10,450 4,200
[The following information applies to the questions displayed below.] The following is a list of accounts and adjusted amounts for Rollcom, Incorporated, for the fiscal year ended September 30, 2021. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expense Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 39,100 66,500 21,500 80,300 94,800 90,700 10,500 1,500 6,300 164,200 99,900 128,700 325,600 35, 200 2. Prepare the closing entry required at September 30, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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?
Prepare correct Trial BAlance?
The following items are taken from the financial statements of the Ivanhoe Service for the year ending December 31, 2021: Accounts payable Accounts receivable Accumulated depreciation - equipment Advertising expense Cash Common stock Dividends Depreciation expense Insurance expense Note payable, due 6/30/22 Prepaid insurance (12-month policy) Rent expense Retained earnings (1/1/21) Salaries and wages expense Service revenue Supplies Supplies expense $ 17800 11000 28000 21300 15300 42800 13800 11900 3100 70100 6200 17000 61700 32500 131700 4000 6000