FUND.ACCT.PRIN.(LOOSELEAF)-W/ACCESS
24th Edition
ISBN: 9781260260724
Author: Wild
Publisher: MCG
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Chapter 3, Problem 17QS
Preparing an adjusted
Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance by entering the adjusted balance for each of the following accounts.
Unadjusted Trial Balance Adjustments Adjusted Trial Balance
| No. Ac taunt Title Dr. | Cr. Dr. Cr. | Dr. Cr. | ||||||
| 101 | Cash | $8,000 | ||||||
| ICG | 2,000 | $4,000 | ||||||
| 126 | Supplier | 4,500 | $2,500 | |||||
| 2CS | Salaries payable | $ 0 | 400 | |||||
| 301 | B.Wells, Capital | 9,000 | ||||||
| 403 | Consultinq revenue | 11,000 | 4,000 | |||||
| 522 | Salaries expense | 5,500 | 400 | |||||
| Supplies expense | 0 | 2,500 | ||||||
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Question
Problem 8: From the following receipt and payment account of Edhi Centre, prepare an
income and expenditure account for the year ended 31-12-2023 and a Balance sheet as
on that date.
Particulars
Balance b/d
Entrance fee
Subscription
2022
2023
2024
Locker rent
Miscellaneous
Adjustments:
Receipt and payment account
For the year ended 31-12-2023
Dr.(AED)
Particulars
Cr.
(AED)
130 Rates
2,500
210 Stationery
340
General expenses
3,610
70 Building (Purchased on 1-
2,500
7-2023)
10,520 Repairs
300
420 Mortgage interest
1,600
300 Balance c/d
2,460
1,660
13,310
13,310
1. Locker rent AED 20 referred to the previous year and AED 30 is still owing.
2. Rates AED 20 referred to the previous year and AED 500 is still owing.
3. Subscription unpaid for the current year AED 200.
4. Depreciate building by 5% p.a.
||
Journal adjusting entry for Office supplies on hand at 30 Sept is $6,050 incl. GST.
Chapter 3 Solutions
FUND.ACCT.PRIN.(LOOSELEAF)-W/ACCESS
Ch. 3 - Prob. 1DQCh. 3 - Why is the accrual basis of accounting generally...Ch. 3 - Prob. 3DQCh. 3 - What is a prepaid expense and where is it reported...Ch. 3 - What type of assets requires adjusting entries to...Ch. 3 - 6. What contra account is used when recording and...Ch. 3 - What is an accrued revenue? Give an example..Ch. 3 - 8. If a company initially records prepaid expenses...Ch. 3 - Review the balance sheet of Apple in Appendix À....Ch. 3 - Prob. 10DQ
Ch. 3 - Prob. 11DQCh. 3 - Prob. 12DQCh. 3 - Periodic reporting C1 Choose from the following...Ch. 3 - Prob. 2QSCh. 3 - Identifying accounting adjustments Classify the...Ch. 3 - Concepts 0f adjusting entries During the year, a...Ch. 3 - Prepaid (deferred) expenses adjustments Pl For...Ch. 3 - Prepaid (deferred) expenses adjustments For each...Ch. 3 - Prob. 7QSCh. 3 - Accumulated depreciation adjustments Pl For each...Ch. 3 - Adjusting for depreciation P1 For each separate...Ch. 3 - Unearned (deferred) revenues adjustments For each...Ch. 3 - Adjusting for unearned (deferred) revenues P2 For...Ch. 3 - Accrued expenses adjustments Pl For each separate...Ch. 3 - Prob. 13QSCh. 3 - Accrued revenues adjustments P4 For each separate...Ch. 3 - Recording and analysing adjusting entries A1...Ch. 3 - QS3-16
Determining effects of adjusting...Ch. 3 - Preparing an adjusted trial balance P5 Following...Ch. 3 - Prob. 18QSCh. 3 - Prob. 19QSCh. 3 - Prob. 20QSCh. 3 - Preparing adjusting entries P4 Garcia Company had...Ch. 3 - Preparing adjusting entries P4 Cal Consulting...Ch. 3 - Prob. 1ECh. 3 - Exercise 3.2 Classifying adjusting entries C3 In...Ch. 3 - Exercise 3-3 Adjusting and paying accrued wages P3...Ch. 3 - Prob. 4ECh. 3 - Exercise 3-5 Adjusting and paying accrued expenses...Ch. 3 - Exercise 3-6 Preparing adjusting entries P1 P2 P3...Ch. 3 - Exercise 3-7 Preparing adjusting entries P1 P3 P4...Ch. 3 - Exercise 3-8 Analyzing and preparing adjusting...Ch. 3 - Prob. 9ECh. 3 - Preparing financial statements from a trial...Ch. 3 - Prob. 11ECh. 3 - Exercise 3-11 Adjusting for prepaid recorded as...Ch. 3 - Prob. 13ECh. 3 - Exercise 3-14 Preparing adjusting entries P1 P2 P3...Ch. 3 - Problem 3-1A Identifying adjusting entries with...Ch. 3 - Problem 3-2B Preparing adjusting and subsequent...Ch. 3 - Problem 3-3A Preparing adjusting entries, adjusted...Ch. 3 - Problem 3-4A Interpreting unadjusted and adjusted...Ch. 3 - Problem 3-5A Preparing financial statements from...Ch. 3 - Problem 3-6A
Recording prepaid expenses and...Ch. 3 - Prob. 1BPSBCh. 3 - Problem 3-2B Preparing adjusting and subsequent...Ch. 3 - Problem 3-3B Preparing adjusting entries, adjusted...Ch. 3 - Prolme 3-4B Interpreting unadjusted and adjusted...Ch. 3 - Problem 3-5B Preparing financial statements from...Ch. 3 - Problem 3-6B Recording prepaid expenses and...Ch. 3 - Prob. 3SPCh. 3 - Prob. 1GLPCh. 3 - Using transactions from the following assignments,...Ch. 3 - Using transactions from the following assignments,...Ch. 3 - Prob. 4GLPCh. 3 - Prob. 5GLPCh. 3 - Prob. 1AACh. 3 - Key figures for the recent two years of both Apple...Ch. 3 - Key comparative figures for Samsung. Apple, and...Ch. 3 - Prob. 1BTNCh. 3 - Prob. 2BTNCh. 3 - Access EDGAR online (SEC.gov) and locate the...Ch. 3 - Prob. 4BTNCh. 3 - BTN 3-5 Access EDGAR online (SEC.gov) and locate...Ch. 3 - Prob. 6BTN
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