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...
The partial adjusted account balances of the Raiders Fitness
Center at December 31 are as follows:...
The partial adjusted account balances of the Raiders Fitness
Center at December 31 are as follows:
Accounts
Account Balances
Accounts
Account Balances
Cash
$
16,000
Service
Revenue
$107,000
Accounts
Receivable
15,000
Interest Revenue
13,000
Supplies
4,000
Depreciation
Expense
28,000
Prepaid
Insurance
8,000
Insurance
Expense
12,000
Buildings
300,000
Salaries and Wages
Expense 45,000
Accumulated Depreciation—Building 120,000
Supplies
Expense
5,000
Utilities
Expense
10,000
Accounts
Payable
19,000
Unearned Service
Revenue
7,000
Common
Stock
90,000
Retained
Earnings
115,000
Dividends
10,000
Instructions
Prepare...
Selected year-end account balances from the adjusted trial
balance as of December 31, 2017, for Grouper...
Selected year-end account balances from the adjusted trial
balance as of December 31, 2017, for Grouper Corp. is provided
below. Debit Credit Accounts Receivable $82,760 Dividends 29,980
Depreciation Expense 15,050 Equipment 242,590 Salaries and Wages
Expense 103,850 Accounts Payable $60,420 Accumulated
Depreciation—Equipment 130,870 Unearned Rent Revenue 26,110 Service
Revenue 209,530 Rent Revenue 7,070 Rent Expense 4,100 Retained
Earnings 70,450 Supplies Expense 1,600 Collapse question part (a)
Prepare closing entries.
E4.21 (LO 4),
AP Selected year-end account balances from the adjusted
trial balance as of December...
E4.21 (LO 4),
AP Selected year-end account balances from the adjusted
trial balance as of December 31, 2022, for Tippy Corporation is
provided below.
Prepare closing entries.
Debit
Credit
Accounts Receivable
$ 72,600
Dividends
26,300
Depreciation Expense
13,200
Equipment
212,800
Salaries and Wages Expense
91,100
Accounts Payable
$ 53,000
Accumulated Depreciation—Equipment
114,800
Unearned Rent Revenue
22,900
Service Revenue
183,800
Rent Revenue
6,200
Rent Expense
3,600
Retained Earnings
61,800
Supplies Expense
1,400
Instructions
a. Prepare closing entries
b. Determine the post-closing...
Given the following adjusted account balances (all normal),
prepare the closing journal entries for Ezzy Holdings...
Given the following adjusted account balances (all normal),
prepare the closing journal entries for Ezzy Holdings on December
31, 2018.
Cash
45,000 Prepaid
rent
9,000
Garth Gaudette, Capital
85,000
Land
65,000 Service
revenue
75,500
Unearned service revenue 24,000
Supplies
4,000 Interest expense
5,000
Amortization expense
15,000
Rent
expense
12,500 Salary
expense
46,000
Garth Gaudette, Withdrawals 20,000
Note
payable
70,000 Interest
payable 3,000
Acc.
amortization, building
15,000
Supplies expense 8,000
Building
85,000
Accounts
receivable ...
Thanos Merchandising Company
Unadjusted Trial Balance
December 13, 2019
Account
Balance
Bank
187.200
Interest Payable
180.000...
Thanos Merchandising Company
Unadjusted Trial Balance
December 13, 2019
Account
Balance
Bank
187.200
Interest Payable
180.000
Bank Loan (5 years)
552.000
Notes Receivable
336.000
Service Revenue
1.080.000
Cost of Service
576.000
Office Supplies
21.600
Accumulated Depreciation(Building)
336.000
Equipment
264.000
Marketing Expense
????
Building
480.000
Depreciation Expense (Building)
72.000
Interest receivable
90.000
Note payable (3 years)
300.000
Cash
33.600
Profit from sale of equipment
7.200
Account Receivable
136.800
Capital
924.000
Utilities Expense
230.400
Accounts Payable
168.000
Bank Loan (1 year)
60.000...
Closing Entries with Net Loss
Creative Images Co. offers its services to individuals desiring
to improve...
Closing Entries with Net Loss
Creative Images Co. offers its services to individuals desiring
to improve their personal images. After the accounts have been
adjusted at July 31, the end of the fiscal year, the following
balances were taken from the ledger of Creative Images Co.:
Violet Lozano, Capital
$950,000
Violet Lozano, Drawing
11,000
Fees Earned
698,900
Wages Expense
472,000
Rent Expense
73,000
Supplies Expense
11,800
Miscellaneous Expense
14,300
Journalize the two entries required to close the accounts. If an...
Trial Balance
The accounts in the ledger of Hickory Furniture Company as of
December 31, 2016,...
Trial Balance
The accounts in the ledger of Hickory Furniture Company as of
December 31, 2016, are listed in alphabetical order as follows. All
accounts have normal balances. The balance of the cash account has
been intentionally omitted.
Accounts Payable
$42,770
Accounts Receivable
116,900
Cash
?
Common Stock
15,000
Dividends
24,000
Fees Earned
745,230
Insurance Expense
3,600
Land
50,000
Miscellaneous Expense
9,500
Notes Payable
50,000
Prepaid Insurance
21,600
Rent Expense
48,000
Retained Earnings
60,000
Supplies
4,275
Supplies Expense
6,255
Unearned...
Given the following adjusted account balances (all normal),
prepare the closing journal entries for Ski Lodge...
Given the following adjusted account balances (all normal),
prepare the closing journal entries for Ski Lodge 2 on December 31,
2018.
Cash
45,000 Prepaid
rent
9,000
Jane Goden,
Capital
85,000
Land
65,000 Service
revenue
75,500
Unearned service
revenue
24,000
Supplies
4,000 Interest expense
5,000
Amortization expense - Vehicle 15,000
Rent
expense
12,500 Salary
expense
46,000
Jane Goden,
Withdrawals
20,000
Note
payable
70,000 Interest
payable 3,000
Acc.
amortization, Building
15,000
Freight Payable
2,200
COGS
1,000...