On December 31, the ledger accounts of Parker Printing have the
following balances after all adjusting...
On December 31, the ledger accounts of Parker Printing have the
following balances after all adjusting entries have been
posted.
Cash
$ 850
Equipment
2,650
Accumulated Depreciation, Equipment
600
Accounts Payable
200
P. Parker, Capital
3,350
P. Parker, Drawing
8,150
Income Summary
Income from Services
12,450
Wages Expense
800
Rent Expense
1,800
Utilities Expense
550
Depreciation Expense, Equipment
300
Advertising Expense
1,300
Miscellaneous Expense
200
Journalize the four closing entries in the proper order.
GENERAL JOURNAL
Date
Description...
The following adjusted balances were taken from the ledger of
EBC Trading on December 31, 2016,...
The following adjusted balances were taken from the ledger of
EBC Trading on December 31, 2016, Cash 350,000. Accounts Receivble
33,950. Interest Receivable 1,500. Merchandise, January 1 , 50,000,
Supplies 2,650. prepaid rent 40,000. equipment 75,000. Accumulated
depreciation 25,000. Accounts payable 15,000. Notes Payable 10,000.
interest payable 1,000. E. Capital 50,000. E Drawing 10,000. B
Capital 75,000. B Drawing 15,000. C Capital 100,000. Sales 980,650.
Sales Discount 5,500. Sales returns 3,500. Purchases455,000.
Purchase returns 7,500.Purchase discount 3,300. Sales Salary
Expenses...
After the accounts have been adjusted at April 30, the end of
the fiscal year, the...
After the accounts have been adjusted at April 30, the end of
the fiscal year, the following balances were taken from the ledger
of Nuclear Landscaping Co.: Retained Earnings $643,600 Dividends
10,500 Fees Earned 356,500 Wages Expense 283,100 Rent Expense
56,000 Supplies Expense 11,500 Miscellaneous Expense 13,000
Journalize the four entries required to close the accounts.
Refer to the Chart of Accounts for exact wording of account
titles.
CHART OF ACCOUNTS
Nuclear Landscaping Co. General Ledger
ASSETS
11 Cash
12...
fter the accounts have been adjusted at April 30, the end of the
fiscal year, the...
fter the accounts have been adjusted at April 30, the end of the
fiscal year, the following balances were taken from the ledger of
Nuclear Landscaping Co.:
Felix Godwin, Capital
$380,190
Felix Godwin, Drawing
36,000
Fees Earned
355,925
Wages Expense
275,500
Rent Expense
66,100
Supplies Expense
24,795
Miscellaneous Expense
8,265
Journalize the two entries required to close the accounts.
For a compound transaction, if an amount box does not require an
entry, leave it blank.
Apr. 30
Felix Godwin, Capital...
After the accounts have been adjusted at April 30, the end of
the fiscal year, the...
After the accounts have been adjusted at April 30, the end of
the fiscal year, the following balances were taken from the ledger
of Nuclear Landscaping Co.: Felix Godwin, Capital $543,840 Felix
Godwin, Drawing 47,000 Fees Earned 508,845 Wages Expense 385,700
Rent Expense 92,600 Supplies Expense 34,715 Miscellaneous Expense
11,570 Journalize the two entries required to close the accounts.
For a compound transaction, if an amount box does not require an
entry, leave it blank. Apr. 30 Apr. 30
The following selected accounts and their current balances
appear in the ledger of Clairemont Co. for...
The following selected accounts and their current balances
appear in the ledger of Clairemont Co. for the fiscal year ended
May 31, 2019:
Cash $ 240,000
Accounts Receivable 966,000
Merchandise Inventory 1,690,000
Estimated Returns Inventory 22,500
Office Supplies 13,500
Prepaid Insurance 8,000
Office Equipment 830,000
Accumulated Depreciation-Office Equipment 550,000
Store Equipment 3,600,000
Accumulated Depreciation-Store Equipment 1,820,000
Accounts Payable 326,000
Customer Refunds Payable 40,000
Salaries Payable 41,500
Note Payable (final payment due 2022) 300,000
Kristina Marble, Capital 3,449,100
Kristina Marble, Drawing...
The ledger of Camila Ramirez and Ping Xue, attorneys-at-law,
contains the following accounts and balances after...
The ledger of Camila Ramirez and Ping Xue, attorneys-at-law,
contains the following accounts and balances after adjustments have
been recorded on December 31, 20Y2: Ramirez and Xue Trial Balance
December 31, 20Y2 Debit Balances Credit Balances Cash 38,600
Accounts Receivable 36,800 Supplies 1,400 Land 92,000 Building
101,300 Accumulated Depreciation—Building 57,500 Office Equipment
42,300 Accumulated Depreciation—Office Equipment 17,800 Accounts
Payable 27,400 Salaries Payable 2,900 Camila Ramirez, Capital
90,000 Camila Ramirez, Drawing 41,400 Ping Xue, Capital 55,200 Ping
Xue, Drawing 59,800 Professional...
On December 31, the ledger of Davis Company contained the
following account balances:
Accounts Payable
$...
On December 31, the ledger of Davis Company contained the
following account balances:
Accounts Payable
$
11,400
Fees Income
$
171,000
Accounts Receivable
4,900
Supplies
3,300
Accumulated Depreciation
6,200
Prepaid Rent
56,500
Cash
73,000
Rent Expense
8,100
Depreciation Expense
6,200
Supplies Expense
7,300
Equipment
61,000
Teresa Davis, Capital
94,700
Teresa Davis, Drawing
48,500
Utilities Expense
14,500
All the accounts have normal balances. Prepare the closing entries
for Davis Company On December 31.
Note: Enter debits before credits.
Date
General Journal...
The following account titles and balances were taken from the
adjusted trial balance of King Co....
The following account titles and balances were taken from the
adjusted trial balance of King Co. for 2016. The company uses the
periodic inventory system.
Account Title
Balance
Sales returns and
allowances
$
11,500
Miscellaneous
expense
6,100
Transportation-out
19,100
Sales
21,200
Advertising
expense
910
Salaries
expense
161,000
Transportation-in
3,250
Purchases
20,750
Interest
expense
58,500
Merchandise
inventory, January 1
331,000
Rent expense
9,100
Merchandise
inventory, December 31
6,750
Purchase returns and
allowances
11,350
Loss on sale of
land
5,100
Utilities
expense...
Skolnick Co. was organized on April 1, 2020. The company
prepares quarterly financial statements. The unadjusted...
Skolnick Co. was organized on April 1, 2020. The company
prepares quarterly financial statements. The unadjusted trial
balance at June 30 are shown below.
Debit
Credit
Cash
$ 6,700
Accounts Receivable
600
Prepaid Rent
900
Supplies
1,000
Equipment
15,000
Owner’s Drawings
600
Salaries and Wages Expense
9,400
Rent Expense
1,500
Depreciation Expense
850
Supplies Expense
200
Utilities Expense
510
Interest Expense
50
Accumulated Depreciation
$ 850
Notes Payable
5,000
Accounts Payable
1,510
Salaries and Wages Payable
400
Interest Payable
50...