year-end closing entries using the following adjusted trial t Cash Accounts receivable Office supplies Office equipment Accumulated depreciation, office Accounts payable Unearned service revenue Long-term notes payable Billi Sol, capital Billi Sol, withdrawals Service Revenue Salary expense Rent expense Depreciation Debit 13,000 20,000 10,300 40,500 10,000 30,000 12,300 Credit 22,000 11,500 6,500 38,000 11,000 51,100

year-end closing entries using the following adjusted trial t Cash Accounts receivable Office supplies Office equipment Accumulated depreciation, office Accounts payable Unearned service revenue Long-term notes payable Billi Sol, capital Billi Sol, withdrawals Service Revenue Salary expense Rent expense Depreciation Debit 13,000 20,000 10,300 40,500 10,000 30,000 12,300 Credit 22,000 11,500 6,500 38,000 11,000 51,100

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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d. The company collects Y5,000 subsequently on a specific account that had previously been determined to be uncollectible in (c.). Prepare the journal entry(ies) necessary to restore the account and record the cash collection.
Prepare an aging schedule to determine the total estimated uncollectibles at March 31,2018
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Year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Inventory Prepaid rent Current Year 1 Year Ago 2 Years Ago $ 26,725 77,457 $ 31,858 95,459 8,436 240,403 30,967 41,290 43,529 52,503 73,671 8,200 220,389 3,372 193,642 $ 312,800 $ 42,115 69,129 162,500 Machinery, net Total assets $ 448,480 $ 386,621 Liabilities and Equity Accounts payable $ 110,555 Long-term notes payable 83,471 $ 65,992 88,034 Common stock 162,500 Retained earnings 91,954 162,500 70,095 39,056 Total liabilities and equity $ 448,480 $ 386,621 $ 312,800 Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute times interest earned for the current year and one year ago. Current Year 1 Year Ago Times Interest Earned Choose Numerator: / Choose Denominator: I II 11 Times interest earned times times
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Year-end adjusting journal entries Prepare budgetary and proprietary journal entries to record the following year-end adjustments: Note: If a journal entry is not required, select No entry as your answers and leave the Debit and Credit answers blank (zero). 4. The agency recorded depreciation of $25,000 on its equipment.
Journal adjusting entry for Office supplies on hand at 30 Sept is $6,050 incl. GST.