MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Accounting, The Financial Chapters (My Accounting Lab)
11th Edition
ISBN: 9780133877502
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 4, Problem 7QC
Which of the following accounts may appear on a post-closing
Learning Objective 4 |
- Cash, Salaries Payable, and Owner, Capital
- Cash, Salaries Payable, and Service Revenue
- Cash, Service Revenue, and Salaries Expense
- Cash, Salaries Payable, and Salaries Expense
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Learning Outcome 7. Answer the following question in a short answer of 100-150 words; provide comprehensive information and examples in applicable, to support your answer. How Financial Statements are Interconnected? Explain.
Pears
X
P
W
Chapter: Recording Business TraNSACTIONS
Sep. 1
hed:course:7710589/products/79c3fa4c-a84f-42ba-b87a-e36a400bca00/pages/urn:pe
6
7
Proble X
P-F:2-30A. Journalizing transactions, posting journal entries to T-
accounts, and preparing a trial balance (Learning Objectives 3, 4)
15
G
New
Ann Simpson started her practice as a design consultant on September 1,
2024. During the first month of operations, the business completed the
following transactions:
3. Prepare the trial balance of Vince York, M.D., as of July 31, 2024.
30
Received $48,000 cash and issued common stock to Simpson.
Purchased office supplies, $1,200, and furniture, $1,300, on account.
Performed services for a law firm and received $1,900 cash.
X
Paid $18,000 cash to acquire land to be used in operations.
Performed services for a hotel and received its promise to pay the $1,200
within one week.
Paid for the furniture purchased on September 4 on account.
Paid assistant's semimonthly salary, $1,500.
Received cash on…
NTEGRATE
FABM1 21-22 WEEK 4 TASK
Learning Competency
• The learners shall be able to illustrate the accounting equation (ABM_FABM11-llb-c-8);
Perform operations involving simple cases with the use of the accounting equation (ABM_FABM11-Illb-c-9)
S.Y. 2021-2022
ARISTOTLE
PARMENIDES
EPICURUS
WEEK 4- LEARNING TASK 3 PAGE 21
Learning Task 3: The following transactions were made during the first month of a single
proprietor's business operation.
1. Mr. Y started a grocery store. He invested P 200,00 as initial investment.
2. He registered his business paying P 1,500 for registration.
3. He paid P 20,000 for store rent applicable for one year.
4. He incurred and paid P25,000 for the repair of the grocery store.
5. He purchased merchandise for sale amounting to P 300,000, paying P
200,000 with the balance to be paid after 60 days.
6. He paid P2,000 for the transportation of the merchandise purchased.
7. He hired a saleslady for a contract of P 5,000 per month salary.
8. He sold P100,000 worth…
Chapter 4 Solutions
MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Accounting, The Financial Chapters (My Accounting Lab)
Ch. 4 - Assets are listed on the balance sheet in the...Ch. 4 - Which of the following accounts would be included...Ch. 4 - Which situation indicates a net loss within the...Ch. 4 - Which of the following accounts is not closed?...Ch. 4 - What do closing entries accomplish? Learning...Ch. 4 - Which of the following is not a closing entry?...Ch. 4 - Which of the following accounts may appear on a...Ch. 4 - 8. Which of the following steps of the accounting...Ch. 4 - Clean Water Softener Systems has Cash of $600,...Ch. 4 - Which of the following statements concerning...
Ch. 4 - What document are financial statements prepared...Ch. 4 - What does the income statement report?Ch. 4 - Prob. 3RQCh. 4 - Prob. 4RQCh. 4 - Why are financial statements prepared in a...Ch. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 8RQCh. 4 - Prob. 9RQCh. 4 - How could a worksheet help in preparing financial...Ch. 4 - If a business had a net loss for the year, where...Ch. 4 - Prob. 12RQCh. 4 - What are temporary accounts? Are temporary...Ch. 4 - What are permanent accounts? Are permanent...Ch. 4 - How is the Income Summary account used? Is it a...Ch. 4 - Prob. 16RQCh. 4 - If a business had a net loss for the year, what...Ch. 4 - What types of accounts are listed on the...Ch. 4 - Prob. 19RQCh. 4 - What is the current ratio, and how is it...Ch. 4 - Prob. 21ARQCh. 4 - Prob. S4.1SECh. 4 - Prob. S4.2SECh. 4 - Prob. S4.3SECh. 4 - Preparing a balance sheet (classified, report...Ch. 4 - Classifying balance sheet accounts Learning...Ch. 4 - Prob. S4.6SECh. 4 - Prob. S4.7SECh. 4 - Prob. S4.8SECh. 4 - Prob. S4.9SECh. 4 - Prob. S4.10SECh. 4 - S412 Identifying accounts included on a...Ch. 4 - Identifying steps in the accounting cycle Learning...Ch. 4 - Prob. S4.13SECh. 4 - Prob. S4.14SECh. 4 - Prob. E4.15ECh. 4 - Classifying balance sheet accounts Learning...Ch. 4 - Prob. E4.17ECh. 4 - Prob. E4.18ECh. 4 - Prob. E4.19ECh. 4 - Prob. E4.20ECh. 4 - Prob. E4.21ECh. 4 - Prob. E4.22ECh. 4 - Preparing a worksheet and closing entries Jadence...Ch. 4 - I 2 I I’rcpai ing t losing end ics I rom an...Ch. 4 - a post-dosing trial balance rics* illic r. s ano a...Ch. 4 - Prob. E4.26ECh. 4 - Prob. E4A.27ECh. 4 - Prob. P4.28APGACh. 4 - 'v"-1 evaluate a company •""' UM"B tl,e r“" ratio...Ch. 4 - Preparing a worksheet, financial statements, and i...Ch. 4 - WIUIAMt Osy ANVILS UrMdjuMvd lr „ ik'Uno. l>cu...Ch. 4 - Completing the accounting cycle from journal...Ch. 4 - Prob. P4.33APGACh. 4 - Prob. P4.34BPGBCh. 4 - Prob. P4.35BPGBCh. 4 - Preparing a worksheet, financial statements, and...Ch. 4 - Prob. P4.37BPGBCh. 4 - Completing d««„„„u„g cycle 6mm inn.n.l cn.ric, .0...Ch. 4 - Prob. P4.39BPGBCh. 4 - Completing the accounting cycle from adjusted...Ch. 4 - Prob. P4.41PSCh. 4 - Prob. 1.1CPCh. 4 - Prob. 1.2CPCh. 4 - Prob. 1.3CPCh. 4 - Prob. 1.4CPCh. 4 - Magness Delivery Service completed the fblowing...Ch. 4 - Prob. 1.6CPCh. 4 - Prob. 1.7CPCh. 4 - Prob. 1.8CPCh. 4 - Prob. 1.9CPCh. 4 - Prob. 2.1CPCh. 4 - Prob. 2.2CPCh. 4 - Prob. 2.3CPCh. 4 - Prob. 2.4CPCh. 4 - Prob. 2.5CPCh. 4 - Prob. 2.6CPCh. 4 - Prob. 2.7CPCh. 4 - Prob. 2.8CPCh. 4 - Prob. 4.1EICh. 4 - Prob. 4.1FCCh. 4 - Prob. 4.1FSC
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Most Essential Learning Competencies 1. Identify the elements of the SFP and describe each of them. 2. Prepare an SFP using the report form and the account form with proper classification of items as current and noncurrent. STATEMENT OF FINANCIAL Part 1: At the back of this paper, prepare a Statement of Financial Position pf CDS Enterprise Business for the calendar year 2020 using the following accounts in Report Form: Cash - 5,000 Loans Payable - 77,500 Accounts Receivable - 2,600 Supplies - 2,300 Equipment - 17,000 Owner's equity – 40,000 Accounts Payable - 22,400 Building - 113,000 Part 2: Answer the following questions and write the solutions in a clean paper. Attached your solution with this paper. 1. If assets are Php17,000 and owner's equity is Php10,000, liabilities are 2. At the end of the first month of operations for Juana's Delivery Service, the business had the following accounts: Accounts Receivable, Php1,200; Prepaid Insurance, Php500; Equipment, Php36,200 and Cash,…arrow_forwardDlhos - YouT A Apex Learning - Apex Learning - Courses A https://course.apexlearning.com/public/activity/7001002/assessment cial Literacy 1 7.1.2 Exam: Exam Question 1 of 40 Which of these options for saving money offers the most liquidity? A. A savings bond B. A money market account C. A piggy bank D. A basic savings account SUBMIT E PREVIOUS re to searcharrow_forwardFor which type of learning outcomes would be the essay test be least useful?A. Understanding of accounting principlesB. Thinking skillsC. Organization of ideasD. Knowledge of factsE. Application of accounting principlesarrow_forward
- 1. Journal all transactions in Part One 2. Using the chart of accounts, open ledger accounts and post journals to the ledger account. 3. Prepare a trial balance 4. Prepare the following statements: 1. Income Statement 2. Retained Earnings Statements 3. Balance Sheet You need to use Microsoft Excel. Do not use Google Docs or Apple’s numbers. Place your submission in the appropriate journal labeled final project in the learning modules tab in Blackboard. The project is due in Module 15. Three points extra credit to final grade if submitted during Module 14. Part One A. The following transaction occurred for Scrooge Inc. for the month of December 31, 1820. B. Ebenezer Scrooge invested $50,000 cash along in the company in exchange for common stock. C. The company prepaid $500 for 12 month’s rent. D. The company purchased $100 in office supplies. Payment due withing 10 days E. Scrooge Inc. completed services for a client and immediately received $2,000. F. The company completed $1,500…arrow_forwardStrictly type-written Required: • Ledger • Guide Questionsarrow_forwardSolve pleasearrow_forward
- S1-2 Contrast managerial and financial accounting (Learning Objective 2) Managerial accounting differs from financial accounting in several areas. Specify whether each of the following characteristics relates to managerial accounting or financial accounting. 2-12 a. Reports are usually prepared quarterly and annually. b. Information is verified by external auditors. Focus is on the past. C. d. Main characteristic of information is that it must be relevant. e. Reports tend to be prepared for the parts of the organization rather than the whole organization. ornal (i o company managers)arrow_forwardA Quantitative Synthesis of Emotions Experienced of Aspiring Law Students Inside The Classroom Can you define the purpose of the study? Minimum of 2 sentencesarrow_forwardWhat is the basic formula one must remember for a beginner student on accounting class 1arrow_forward
- SERVICE COMPANY WORKSHEET P1WORK LEARNING OBJECTIVES * Prepare a worksheet for a proprietorship service firm. * Prepare financial statements from a worksheet. * Compare expense levels to national averages. * Alter the worksheet to include an additional adjusting entry. * Create a chart showing the amount of all expenses. PROBLEM DATA The trial balance of Wikki Cleaners at December 31, 2012, the end of the current fiscal year, is below: Wikki Cleaners Trial Balance December 31, 2012 Cash $13,200 Cleaning Supplies 22,000 Prepaid Insurance 5,400 Equipment 206,000 Accumulated Depreciation $…arrow_forwardHomework help asaparrow_forwardPrepare journal entries for the following transactions from School Mart.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Century 21 Accounting Multicolumn JournalAccountingISBN:9781337679503Author:GilbertsonPublisher:CengageCollege Accounting, Chapters 1-27AccountingISBN:9781337794756Author:HEINTZ, James A.Publisher:Cengage Learning,
- Cornerstones of Financial AccountingAccountingISBN:9781337690881Author:Jay Rich, Jeff JonesPublisher:Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:9781337679503
Author:Gilbertson
Publisher:Cengage
College Accounting, Chapters 1-27
Accounting
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:Cengage Learning,
Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning
ACCOUNTING BASICS: Debits and Credits Explained; Author: Accounting Stuff;https://www.youtube.com/watch?v=VhwZ9t2b3Zk;License: Standard Youtube License