Myaccountinglab With Pearson Etext -- Access Card -- For Horngren's Accounting, The Managerial Chapters

12th Edition

ISBN: 9780134490663

Author: MILLER-NOBLES, Tracie L., Mattison, Brenda L., Matsumura, Ella Mae

Publisher: PEARSON

See similar textbooks

Concept explainers

The Effect Of Prepaid Taxes On Assets And Liabilities

Many businesses estimate tax liability and make payments throughout the year (often quarterly). When a company overestimates its tax liability, this results in the business paying a prepaid tax. Prepaid taxes will be reversed within one year but can resu…

Final Accounts

Financial accounting is one of the branches of accounting in which the transactions arising in the business over a particular period are recorded.

Ledger Posting

A ledger is an account that provides information on all the transactions that have taken place during a particular period. It is also known as General Ledger. For example, your bank account statement is a general ledger that gives information about the a…

Trial Balance and Final Accounts

In accounting we start with recording transaction with journal entries then we make separate ledger account for each type of transaction. It is very necessary to check and verify that the transaction transferred to ledgers from the journal are accurately…

Adjustment Entries

At the end of every accounting period Adjustment Entries are made in order to adjust the accounts precisely replicate the expenses and revenue of the current period. It is also known as end of period adjustment. It can also be referred as financial repor…

Videos

Textbook Question

Chapter 4, Problem P4A.34APGA

Preparing adjusting entries and reversing entries

Learning Objectives 7 Appendix 4
The unadjusted trial balance and adjustment data of Martha's Motors at December 31, 2018, follow:

Chapter 4, Problem P4A.34APGA, Preparing adjusting entries and reversing entries Learning Objectives 7 Appendix 4 The unadjusted

Adjustment data at December 31,2018:

Depreciation on equipment, $2,100.
Accrued Wages Expense. $1,100.
Office Supplies cm hand, $500.
Prepaid Insurance expired during December,$600.
Unearned Revenue earned during December,$4,800
Accrued Service Revenue, 51,300.

2019 transactions:

On January 4, Martha's Motors paid wages of $1,900. Of this, $1,100 related to the accrued wages recorded on December 31.
On January 10, Martha’s Motors received $1,500 for Service Revenue. Of this, $1,300 is related to the accrued Service Revenue recorded on December 31

Requirements

Journalize adjusting entries.
Journalize reversing entries for the appropriate adjusting entries.
Refer to the 2019 data. Journalize the cash payment and the cash receipt that occurred in 2019.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 4, Problem P4.33APGA

Chapter 4, Problem P4.35BPGB

Students have asked these similar questions

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. ||

ACTIVITY/Workshop VI Worksheets/ adjustments (trial balance, adjustments and adjusted trial balance) WORKSHOP NO. 6 ADJUSTMENT PARTICULAR QUANTITY AMOUNT LIFE SPAN DEPRECIATION DEPRECIATION PER YEAR PER MONTH OFFICE EQUIPMENT 1 24,000.00 S YEARS 4,800.00 400 JOURNAL ENTRY 2015 PARTICULAR PR DEBIT CREDIT JAN. 31 DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION Trial balance DEBIT adjusted trial balance DEBIT adjustment DEBIT ACCT NO. 101 ACCOUNT NAME CREDIT CREDIT CREDIT Cash on Hand 97,430.00 54 COOP 30193 PUP, CSSD Department of Cooperatives and Social Development Dr. A. S. Villaruel, 2021 Loan Receivable Office equipment Office supplies-prepaid Savings deposit Loan payable Accounts payable EC/SSS/Payable Withholding tax payable Share capital Interest income Service fee Salaries and wages 102 103 91,340.00 24,000.00 700.00 104 201 202 203 204 205 301 401 402 501 502 503 504 101,500.00 100,000.00 900.00 1,100.00 3,500.00 16,810.00 2,010.00 11,000.00 50.00 300.00 500.00 900.00 Office…

Do part 1 and 2 journal entries

Chapter 4 Solutions

Myaccountinglab With Pearson Etext -- Access Card -- For Horngren's Accounting, The Managerial Chapters

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...

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.