GEN COMBO COLLEGE ACCOUNTING; CONNECT ACCESS CARD
GEN COMBO COLLEGE ACCOUNTING; CONNECT ACCESS CARD
4th Edition
ISBN: 9781260087376
Author: M. David Haddock Jr. Professor
Publisher: McGraw-Hill Education
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Chapter 6, Problem 1PA

1.

To determine

Journalize the adjusting entries.

2.

To determine

Journalize the closing entries.

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On November 30, 2019, Davis Company and the following account balances: 1. Prepare general journal entries to record preceding transactions. 2. Post to general ledger T-accou11ts. 3. Prepare a year-end trial balance on a worksheet and complete the worksheet using the following information: (a) accrued salaries at year-end total $1,200; (b ) for simplicity, the building and equipment are being depreciated using the stright-line method over an estimated life of 20 years with no residual all c) supplies on hand at the end of the year total $630; (d ) bad debts expense for the year totals $830; and (e ) the income tax rate is 30%; income taxes are payable in the first quarter of 2020. 4. Prepare company's financial statements for 2019 . 5. Prepare 2019 (a) adjusting and (b) closing entries in the general journal.
Aylmer has some customers that pay for services in advance of work started.  At December 31, 2020, the accountant reviewed unearned revenue to see how much revenue had been earned.  Calculate the amount and the journal entries too.  Please include all steps of calutlations for my reference. Thanks!
The following are taken from the records of San Agustin Lumberand Supplies forthe year ended December 2019. The business owneremployed you as its bookkeeperin its first year of operations. You are now to prepare the Statement of Comprehensive Income. Accordingly, 30% of the rent, salaries, depreciation, and utilities expenses pertain to the sales office while the rest to the corporate office. Advertising Expense |Depreciation Expenses Freight-In Freight-out Insurance Expense Inventory, January 1, 2019 Inventory, December 31, 2019 Purchases Purchases Discount Purchases Returns and Allowance Rent Expense Salaries Expense Sales Sales discount 25,000.00 2,500.00 5,000.00 3,500.00 5,000.00 235,600.00 125,000.00 275,000.00 3,500.00 4,550.00 35,000.00 50,000.00 725,000.00 15,250.00 10,250.00 7,500.00 Sales Returns and Allowances Utilities Expense

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GEN COMBO COLLEGE ACCOUNTING; CONNECT ACCESS CARD

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