Financial Accounting
4th Edition
ISBN: 9781259307959
Author: J. David Spiceland, Wayne M Thomas, Don Herrmann
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 2, Problem 2.12BE
Correct a
Your study partner is having trouble getting total debits to equal total credits in the trial balance. Prepare a corrected trial balance by placing each account balance in the correct debit or credit column.
| Trial Balance | ||
| Accounts | Debit | Credit |
| Cash | $ 7,300 | |
| $ 2,100 | ||
| Equipment | 10,400 | |
| Accounts Payable | 3,900 | |
| Deferred Revenue | 1,100 | |
| Common Stock | 11,000 | |
| 3,900 | ||
| Dividends | 600 | |
| Service Revenue | 4,500 | |
| Salaries Expense | 3,200 | |
| Utilities Expense | 800 | |
| Total | $36,400 | $12,400 |
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Students have asked these similar questions
Use the following T-account for Careful Corporation to answer questions 11 and 12:
Accounts Receivable
Beg. Bal. $ 187
18
150
6
64
15
19
End. Bal. $ ?
The ending balance of Accounts Receivable for Careful is:
Group of answer choices
A. $401 debit
B. $343 debit
C. $343 credit
D. $ 58 credit
T-Account Formulas
Please provide the formulas (Typed out and not in an Excel Sheet) and answers to the following problems.
DEBIT SIDE OF T-ACCOUNTS
1) Find Beginning Balance
CASH
Debit Side
1/1 Beginning Balance UNKNOWN
1/3 Transaction A 2,500
1/15 Transaction B 4,000
1/28 Transaction E 3,400
Ending Balance 9,800
Credit Side
1/16 Transaction C 4,500
1/20 Transaction D 2,200
1/29 Transaction F 3,500
Problem 2) Find Ending Balance
INVENTORY
Debit Side
4/1 Beginning Balance 40,000
4/15 Transaction B 5,000
Ending Balance UNKNOWN
Credit Side
4/9 Transaction A 8,000
4/28 Transaction C 25,000
SELLING EXPENSE
Problem 3) Find Credit Amount
Debit Side
Beginning Balance 0
1/5 Transaction A 1,500
1/13 Transaction B 6,000
1/28 Transaction C 8,700
Ending Balance 14,700
Credit Side
1/9 Transaction D UNKNOWN
INTEREST EXPENSE
Problem 4) Find Debit Amount
Debit Side
8/1 Beginning Balance 800
8/7 Transaction A UNKNOWN8/14 Transaction B 500
Ending Balance 1,800
Credit Side
No…
Hi,
Can you please help me with E3.4? My debits and credits are not matching. Thank you!
Chapter 2 Solutions
Financial Accounting
Ch. 2 - Prob. 1RQCh. 2 - 2.List the steps we use to measure external...Ch. 2 - 3.Each external transaction will have a dual...Ch. 2 - 4.Describe the impact of each of these external...Ch. 2 - Prob. 5RQCh. 2 - Prob. 6RQCh. 2 - Prob. 7RQCh. 2 - Prob. 8RQCh. 2 - Prob. 9RQCh. 2 - 10.Suzanne knows that an increase to an expense...
Ch. 2 - 11.What is a journal? What is a journal entry?Ch. 2 - Prob. 12RQCh. 2 - Prob. 13RQCh. 2 - Prob. 14RQCh. 2 - 15.Describe the events that correspond to the...Ch. 2 - 16.What does a T-account represent? What is the...Ch. 2 - Prob. 17RQCh. 2 - Prob. 18RQCh. 2 - Prob. 19RQCh. 2 - 20.If total debits equal total credits in the...Ch. 2 - List steps in the measurement process (LO21) Below...Ch. 2 - Balance the accounting equation (LO22) Using the...Ch. 2 - Suppose a local company has the following balance...Ch. 2 - Analyze the Impact of transactions on the...Ch. 2 - Understand the effect of debits and credits on...Ch. 2 - Prob. 2.6BECh. 2 - Record transactions (LO24) The following...Ch. 2 - Prob. 2.8BECh. 2 - Analyze T-accounts (LO25) Consider the following...Ch. 2 - Prob. 2.10BECh. 2 - Prob. 2.11BECh. 2 - Correct a trial balance (LO26) Your study partner...Ch. 2 - Listed below are several terms and phrases...Ch. 2 - Prob. 2.2ECh. 2 - Analyze the Impact of transactions on the...Ch. 2 - Analyze the Impact of transactions on the...Ch. 2 - Understand the components of retained earnings...Ch. 2 - Indicate the debit or credit balance of accounts...Ch. 2 - Associate debits and credits with external...Ch. 2 - Prob. 2.8ECh. 2 - Identify transactions (LO24) Below are recorded...Ch. 2 - Prob. 2.10ECh. 2 - Record transactions (LO24) Bearcat Construction...Ch. 2 - Correct recorded transactions (LO24) Below are...Ch. 2 - Correct recorded transactions (LO24) Below are...Ch. 2 - Prob. 2.14ECh. 2 - Post transactions to T-accounts (LO25) Consider...Ch. 2 - Identify transaction (LO25) Below are T-accounts....Ch. 2 - Prob. 2.17ECh. 2 - Prepare o trial balance (LO26) Below is the...Ch. 2 - Prob. 2.19ECh. 2 - Prob. 2.20ECh. 2 - Below is a list of activities for Jayhawk...Ch. 2 - Prob. 2.2APCh. 2 - Prob. 2.3APCh. 2 - Prob. 2.4APCh. 2 - Refer to the transactions described in P24A. Keep...Ch. 2 - Prepare a trial balance (LO26) Below are the...Ch. 2 - Prob. 2.7APCh. 2 - Prob. 2.8APCh. 2 - Prob. 2.9APCh. 2 - Analyze the impact of transactions on the...Ch. 2 - Prob. 2.2BPCh. 2 - Prob. 2.3BPCh. 2 - Record transactions (LO24) Flip Side of P25B Eli...Ch. 2 - Prob. 2.5BPCh. 2 - Prob. 2.6BPCh. 2 - Prob. 2.7BPCh. 2 - Prob. 2.8BPCh. 2 - Prob. 2.9BPCh. 2 - Prob. 2.1APCPCh. 2 - Prob. 2.2APFACh. 2 - The Buckle, Inc. Financial Analysis Financial...Ch. 2 - Prob. 2.4APCACh. 2 - Prob. 2.5APECh. 2 - Prob. 2.6APIRCh. 2 - Prob. 2.7APWC
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