Problem 2-2 (Algo) Accounting cycle through unadjusted trial
balance [LO2-3, 2-4]
Skip to question
[The following...
Problem 2-2 (Algo) Accounting cycle through unadjusted trial
balance [LO2-3, 2-4]
Skip to question
[The following information applies to the questions
displayed below.]
The following is the post-closing trial balance for the Whitlow
Manufacturing Corporation as of December 31, 2020.
Account Title
Debits
Credits
Cash
4,100
Accounts receivable
1,100
Inventory
4,100
Equipment
10,100
Accumulated depreciation
2,600
Accounts payable
2,100
Accrued liabilities
0
Common stock
9,000
Retained earnings
5,700
Sales revenue
0
Cost of goods sold
0
Salaries expense
0
Rent...
The following is the post-closing trial balance for the Whitlow
Manufacturing Corporation as of December 31,...
The following is the post-closing trial balance for the Whitlow
Manufacturing Corporation as of December 31, 2020.
Account Title
Debits
Credits
Cash
5,200
Accounts receivable
2,200
Inventory
5,200
Equipment
11,200
Accumulated depreciation
3,700
Accounts payable
3,200
Accrued liabilities
0
Common stock
8,000
Retained earnings
8,900
Sales revenue
0
Cost of goods sold
0
Salaries expense
0
Rent expense
0
Advertising expense
0
Totals
23,800
23,800
The following transactions occurred during January 2021:
Jan.
1
Sold merchandise for cash, $3,700. The...
The following is the post-closing trial balance for the Whitlow
Manufacturing Corporation as of December 31,...
The following is the post-closing trial balance for the Whitlow
Manufacturing Corporation as of December 31, 2017.
Account Title
Debits
Credits
Cash
5,400
Accounts receivable
2,400
Inventory
5,400
Equipment
11,400
Accumulated depreciation—equipment
3,900
Accounts payable
3,400
Common stock
9,000
Retained earnings
8,300
Sales revenue
0
Cost of goods sold
0
Salaries and wages expense
0
Rent expense
0
Advertising expense
0
Totals
24,600
24,600
The following transactions occurred during January 2018:
Jan.
1
Sold merchandise for cash, $3,900. The cost...
The following is the post-closing trial balance for the Whitlow
Manufacturing Corporation as of December 31,...
The following is the post-closing trial balance for the Whitlow
Manufacturing Corporation as of December 31, 2020. Account Title
Debits Credits Cash 5,000 Accounts receivable 2,000 Inventory 5,000
Equipment 11,000 Accumulated depreciation 3,500 Accounts payable
3,000 Common stock 10,000 Retained earnings 6,500 Sales revenue 0
Cost of goods sold 0 Salaries expense 0 Rent expense 0 Advertising
expense 0 Totals 23,000 23,000
The following transactions occurred during January 2021: Jan. 1
Sold merchandise for cash, $3,500. The cost of the...
[The following information applies to the questions
displayed below.]
The following is the post-closing trial balance...
[The following information applies to the questions
displayed below.]
The following is the post-closing trial balance for the Whitlow
Manufacturing Corporation as of December 31, 2017.
Account Title
Debits
Credits
Cash
5,400
Accounts receivable
2,400
Inventory
5,400
Equipment
11,400
Accumulated depreciation—equipment
3,900
Accounts payable
3,400
Common stock
9,000
Retained earnings
8,300
Sales revenue
0
Cost of goods sold
0
Salaries and wages expense
0
Rent expense
0
Advertising expense
0
Totals
24,600
24,600
The following transactions occurred during January 2018:...
The following transactions occurred during January
2021:
Jan.
1
Sold merchandise for cash, $2,600. The cost...
The following transactions occurred during January
2021:
Jan.
1
Sold merchandise for cash, $2,600. The cost of the merchandise
was $1,100. The company uses the perpetual inventory system.
2
Purchased equipment on account for $4,600 from the Strong
Company.
4
Received a $200 invoice from the local newspaper requesting
payment for an advertisement that Whitlow placed in the paper on
January 2.
8
Sold merchandise on account for $4,100. The cost of the
merchandise was $1,900.
10
Purchased merchandise on...
Paddleboard Inc. began operations on January 1, 2016. Its
post-closing trial balance at December 31, 2016...
Paddleboard Inc. began operations on January 1, 2016. Its
post-closing trial balance at December 31, 2016 and 2017, is shown
below along with some other information.
Paddleboard Inc.
Income Statement
For Year Ended December 31, 2017
(000s)
Revenues:
Sales
$3,814
Cost of goods
sold
1,566
Gross Profit
2,248
Expenses:
Other
expenses
$850
Depreciation
expense
110
Total operating
expenses
960
Profit from operations
1,288
Income tax expense
288
Profit
$1,000
Paddleboard...
Jackson Consulting
Unadjusted Trial Balance – December 31, 2018
&nbs
Jackson Consulting
Unadjusted Trial Balance – December 31, 2018
Debits Credits
Cash $
11,500
Accounts
Receivable
3,500
Supplies
1,200
Prepaid
Rent
24,000
Equipment
14,000
Accumulated
Depreciation $1,400
Accounts
Payable
1,900
Unearned Service
Revenue
2,800
Common
Stock
10,300
Retained
Earnings
7,500
Dividends 4,500
Service
Revenue 91,350
Salaries
Expense 55,000
Advertising
Expense 900
Utilities
Expense 650
Total: Debits =$115,250 Credits total = $115,250
Additional Information:
1.) The equipment was purchased on January 1, 2017. The useful
life is estimated to be 10 years.
2.) As of December 31, 2018,...
Jackson Consulting
Unadjusted Trial Balance – December 31, 2018
&nbs
Jackson Consulting
Unadjusted Trial Balance – December 31, 2018
Debits Credits
Cash $
11,500
Accounts
Receivable
3,500
Supplies
1,200
Prepaid
Rent
24,000
Equipment
14,000
Accumulated
Depreciation $1,400
Accounts
Payable
1,900
Unearned Service
Revenue
2,800
Common
Stock
10,300
Retained
Earnings
7,500
Dividends 4,500
Service
Revenue 91,350
Salaries
Expense 55,000
Advertising
Expense 900
Utilities
Expense 650
Total: Debits =$115,250 Credits total = $115,250
Additional Information:
1.) The equipment was purchased on January 1, 2017. The useful
life is estimated to be 10 years.
2.) As of December 31, 2018,...
The adjusted trial balance for Oriole Company is given
below.
ORIOLE
COMPANY
Trial Balance
August 31,...
The adjusted trial balance for Oriole Company is given
below.
ORIOLE
COMPANY
Trial Balance
August 31, 2022
Before
Adjustment
After
Adjustment
Dr.
Cr.
Dr.
Cr.
Cash
$11,640
$11,640
Accounts Receivable
8,440
8,940
Supplies
2,930
1,370
Prepaid Insurance
4,250
2,860
Equipment
16,000
16,000
Accumulated Depreciation—Equipment
$3,600
$4,800
Accounts Payable
5,870
5,870
Salaries and Wages Payable
0
1,140
Unearned Rent Revenue
1,920
1,080
Common Stock
18,220
18,220
Retained Earnings
5,700
5,700
Dividends
2,600
2,600
Service Revenue
34,240
34,740
Rent Revenue
13,720
14,560...