### T-Accounts and Journal Entries**T-Accounts:**1. **Cash** - Balance: $23,8002. **Revenue Earned** - Balance: $44,0003. **Commission Expense** - Balance: $6,1004. **Supplies Expense** - Balance: $3,3005. **Wages Expense** - Balance: $32,0006. **Dividends** - Balance: $4,2007. **Retained Earnings** - Balance: $22,000**Instructions:**Prepare the four journal entries required to close the books. If an amount box does not require an entry, leave it blank.**Journal Entries:**- **Entry A:** - [Dropdown Selection] - [Amount Box]- **Entry B:** - [Dropdown Selection] - [Amount Box]- **Entry C:** - [Dropdown Selection] - [Amount Box]- **Entry D:** - [Dropdown Selection] - [Amount Box] - Options: - Dividends - Income Summary - Retained Earnings - Revenue Earned - Wages Expense### Notes:- In closing the books, ensure that all revenue and expense accounts are transferred to the retained earnings or income summary as appropriate.- Dividends should be closed to retained earnings to reflect the distribution of earnings.- Use the dropdown options provided to accurately classify each entry.

Name: ### T-Accounts and Journal Entries**T-Accounts:**1. **Cash** - Bala
Uploaded: 2024-03-04T10:43:15.000Z
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Description: ### T-Accounts and Journal Entries**T-Accounts:**1. **Cash** - Balance: $23,8002. **Revenue Earned** - Balance: $44,0003. **Commission Expense** - Balance: $6,1004. **Supplies Expense** - Balance: $3,3005. **Wages Expense** - Balance: $32,

Closing Entries: It is also known as closing journal entries. it is prepared at the end of the…

Business

Accounting

Use the following T-accounts: Cash Bal. 23,800 Revenue Earned Bal. 44,000 Commission Expense Bal. 6,100 Supplies Expense Bal. 3,300 Wages Expense Bal. 32,000 Dividends Bal. 4,200 Retained Earnings Bal. 22,000 Prepare the four journal entries required to close the books. If an amount box does not require an entry, leave it blank. А. В. С. D. Dividends Income Summary Retained Earnings Revenue Earned Wages Expense II IIII II IO

Use the following T-accounts: Cash Bal. 23,800 Revenue Earned Bal. 44,000 Commission Expense Bal. 6,100 Supplies Expense Bal. 3,300 Wages Expense Bal. 32,000 Dividends Bal. 4,200 Retained Earnings Bal. 22,000 Prepare the four journal entries required to close the books. If an amount box does not require an entry, leave it blank. А. В. С. D. Dividends Income Summary Retained Earnings Revenue Earned Wages Expense II IIII II IO

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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Can you help prepare the 2 attached journal entries for this example The management of Banciu Corporation provides you with comparative balance sheets at December 31, 20X1, and December 31, 20X0, appearing below. December 31, 20X1 20X0 Assets Cash $ 174,000 $ 223,200 Accounts receivable 306,000 327,600 Allowance for uncollectible accounts (19,200 ) (20,400 ) Inventories 579,600 645,600 Machinery and equipment 1,112,400 776,400 Accumulated depreciation on machinery and equipment (499,200 ) (446,400 ) Leasehold improvements 104,400 104,400 Accumulated amortization on leasehold improvements (69,600 ) (58,800 ) Securities held for plant expansion 180,000 0 Patents 33,360 36,000 Totals $ 1,901,760 $ 1,587,600 Liabilities and stockholders’ equity Accounts payable $ 279,360 $ 126,000 Dividend payable 48,000 0 Current portion of 6% serial bonds…
Use the following trial balance to prepare a multiple step income statement: Account title Debit Credit Cash 60,000 Accounts Receivable 117,000 Allowance for Uncollect/Accts 600 Equipment 12,000 Accumulated Depr 1,200 Accounts Payable 7,200 Notes Payable-Long Term 24,000 Common Stock 48,000 Retained Earnings 24,000 Sales Revenue 456,000 Salaries Expense 51,600 Utilities Expense 68,400 Income Tax Expense 60,000 Cost of Goods Sold 156,000 Interest Expense 36,000 Check figure: Operating Income $180,000
2. Please answer all the tables in their entirely
Accounting Q
Please do not give solution in image format thanku
Cash Accounts Payable Land: Operating Expenses What is the total of the credit account balances that will be shown on the adjusted trial balance? Multiple Choice $60,500 $62,500 $61.500 18,100 Accounts Receivable 4,800 Service Revenue 25,100 Retained Earnings 12,500 Common Stock $43,200 5,800 18,300 17,300 21,100
B. State whether the following T accounts have normal balance or not. (Please refer to the picture.)
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Ashvinbhai
Can you help prepare the 2 attached journal entries for this example The management of Banciu Corporation provides you with comparative balance sheets at December 31, 20X1, and December 31, 20X0, appearing below. December 31, 20X1 20X0 Assets Cash $ 174,000 $ 223,200 Accounts receivable 306,000 327,600 Allowance for uncollectible accounts (19,200 ) (20,400 ) Inventories 579,600 645,600 Machinery and equipment 1,112,400 776,400 Accumulated depreciation on machinery and equipment (499,200 ) (446,400 ) Leasehold improvements 104,400 104,400 Accumulated amortization on leasehold improvements (69,600 ) (58,800 ) Securities held for plant expansion 180,000 0 Patents 33,360 36,000 Totals $ 1,901,760 $ 1,587,600 Liabilities and stockholders’ equity Accounts payable $ 279,360 $ 126,000 Dividend payable 48,000 0 Current portion of 6% serial bonds…
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Post the following general journal entries to the general ledger?