PETE'S CONSTRUCTION YEAR ENDED DECEMBER 31, 2018 ADJUSTED TRIAL
BALANCE INCOME STATEMENT STATEMENT OF OWNER'S EQUITY...
PETE'S CONSTRUCTION YEAR ENDED DECEMBER 31, 2018 ADJUSTED TRIAL
BALANCE INCOME STATEMENT STATEMENT OF OWNER'S EQUITY OR BALANCE
SHEET ACCOUNT TITLES DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash
$37,000 $37,000 Accounts receivable 10,278 10,278 Interest
receivable 1,200 1,200 Office supplies 1,000 1,000 Prepaid
insurance 1,000 1,000 Prepaid rent 1,800 1,800 Note receivable
10,000 10,000 Computer equipment 24,000 24,000 Accumulated
depreciation, computer equipment $10,000 $10,000 Office equipment
15,000 15,000 Accumulated depreciation, office equipment 9,000
9,000 Accounts payable 20,878 20,878 Interest payable...
Problem 3 – Preparation of a trial balance
Using the following financial data listed in
alphabetical...
Problem 3 – Preparation of a trial balance
Using the following financial data listed in
alphabetical order.
Accounts payable $ 8,000.00
Insurance expense 1,500
Accounts receivable 4,500.00
Rent expense 3,000
Cash 6,200.00
Service revenue 12,500
Dawn Edwards, capital 19,500.00
Salary expense 2,000
Dawn Edwards, drawing 6,000.00
Supplies 800.00
Equipment 12,000.00
Utility expense 4,000.00
Required:
Using the page below, prepare a trial balance in proper
form for Management Consulting Services at July 31,
20XX.
MATTHEWS LANES
Work Sheet
For Year Ended June 30
Account
Income Statement
Balance Sheet
Dr
Cr...
MATTHEWS LANES
Work Sheet
For Year Ended June 30
Account
Income Statement
Balance Sheet
Dr
Cr
Dr
Cr
Cash
11,275
Accounts receivable
1,750
Office supplies
800
Prepaid insurance
3,400
Scoring equipment
140,000
Accumulated depreciation –
scoring equipment
21,700
Salaries payable
800
Common stock
20,000
Retained earnings (unadjusted)
40,000
Dividends
46,425
Bowling revenue
138,075
Depreciation expense –
scoring equipment
10,825
Salaries expense
1,800
Insurance expense
1,200
Rent expense
1,600
Office supplies expense
400
Repairs expense
350
Telephone expense
750
Totals
16,925...
You are provided with the following information for Blossom
Company, effective as of its April 30,...
You are provided with the following information for Blossom
Company, effective as of its April 30, 2017, year-end.
Accounts payable
$ 864
Accounts receivable
910
Accumulated depreciation—equipment
670
Cash
1,370
Common stock
1,200
Cost of goods sold
1,090
Depreciation expense
305
Dividends
355
Equipment
2,520
Income tax expense
195
Income taxes payable
165
Insurance expense
240
Interest expense
430
Inventory
1,067
Land
3,200
Mortgage payable
3,600
Notes payable
161
Prepaid insurance
90
Retained earnings (beginning)
1,600
Salaries and wages expense...
The adjusted account balances of MacDonald Company, at December
31, 2021, are as follows:
Cash
$12,700...
The adjusted account balances of MacDonald Company, at December
31, 2021, are as follows:
Cash
$12,700
Accounts payable
$12,000
Accounts receivable
22,000
Notes payable
7,000
Prepaid insurance
10,000
Accumulated depreciation–
Equipment
40,000
equipment
14,000
Depreciation expense
7,000
Service revenue
27,000
B. Stine, drawings
1,500
B.MacDonald, capital
22,000
Advertising expense
400
Unearned service revenue
16,000
Rent expense
1,800
Salary expense
2,000
Insurance expense
600
______
$98,000
$98,000
Instructions
a)
Prepare closing entries for December 31, 2021.
b)
Determine the balance in...
Charlie Corporation's adjusted trial balance included the
following items (all account balances are normal): Accounts payable...
Charlie Corporation's adjusted trial balance included the
following items (all account balances are normal): Accounts payable
$65,000, Accounts receivable $45,000, Capital stock $100,000, Cash
$50,000, Dividends $10,000, Goodwill $47,000, Interest expense
$4,000, Interest payable $2,000, Inventory $38,000, Notes payable
$80,000, Prepaid expenses $5,000, Property, plant & equipment
$123,000, Retained earnings $46,000, Rent expense $18,000, Revenues
$101,000, and Salary expense $60,000. How much are total
assets?
Entries into T accounts and Trial Balance
Ken Jones, an architect, opened an office on April...
Entries into T accounts and Trial Balance
Ken Jones, an architect, opened an office on April 1, 2019.
During the month, he completed the following transactions connected
with his professional practice:
Transferred cash from a personal bank account to an account to
be used for the business, $18,000.
Purchased used automobile for $19,500, paying $2,500 cash and
giving a note payable for the remainder.
Paid April rent for office and workroom, $3,150.
Paid cash for supplies, $1,450.
Purchased office and...
Managerial Accounting Question:
Using the account balances and heading listed below, complete
the Financial Statements (with...
Managerial Accounting Question:
Using the account balances and heading listed below, complete
the Financial Statements (with proper headings) for the fiscal year
ended December 31, 2017 for Mitchell Company
Account Name Amount Account Name Amount
Accounts Payable $40,000 Machinery (net) 12,000
Accounts Receivable (net) 25,000 Marketable Securities 5,000
Accrued Liabilities 5,000 Mortgage Payable 45,000
Administration Expense 17,000 Net Sales 100,000
Bonds Payable 20,000 Notes Payable - Long Term 13,000
Buildings (net) 32,000 Notes Receivable 2,000
Cash 70,000 Other Expense (interest)...
The cash account for American Medical Co. at April 30 indicated
a balance of $334,985. The...
The cash account for American Medical Co. at April 30 indicated
a balance of $334,985. The bank statement indicated a balance of
$388,600 on April 30. Comparing the bank statement and the
accompanying canceled checks and memos with the records revealed
the following reconciling items:
A.
Checks outstanding totaled $61,280.
B.
A deposit of $42,500, representing receipts of April 30, had
been made too late to appear on the bank statement.
C.
The bank collected $42,000 on a $40,000 note,...
Problem 2 – Preparing Financial Statements
The accountant for Farley Corporation prepared the
following list from...
Problem 2 – Preparing Financial Statements
The accountant for Farley Corporation prepared the
following list from the company's accounting records for the year
ended December 31, 20XX:
Service revenue
$18,500
Cash
$ 3,000
Accounts receivable
2,500
A
Farley, Drawing
5,000
Equipment
4,200
L
Supplies expense
1,800
Accounts payable
1,200
L
Rent expenses
3,400
Wages expense
5,000
L
Farley, Capital 1/1/20XX
8,000
Office supplies
800
A
Insurance expense
2,000
Required: Using the attached pages at the end of this
document:
1....