Question

#6 Adjusted Trail balances? #7 Financial Statements #8 general journal? #9 closing entries for for Moonlight...

#6 Adjusted Trail balances?

#7 Financial Statements

#8 general journal?

#9 closing entries for

for Moonlight bay inn question?

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

#6 It is an internal document that lists the general ledger account titles and their balances after any adjustments have been made. The adjusted trial balance is not a financial statement, but it is used to account balances which will be report on financial statements.. Adjusted trail balance must have the total amount of the debit balances equal to the total amount of credit balances.

#7 These are reports prepared by a company's management inorder to present the financial performance and position at a particular point in time..

#8 It is a daybook (journal) which is used to record transactions relating to adjustment entries, opening stock, accounting errors etc

#9 They are journal entries , which made at the end of an accounting period to transfer temporary accounts to permanent accounts.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Using the Adjusted Trial Balance below, prepare a) The General Journal Closing entries for Shona’s Real...
Using the Adjusted Trial Balance below, prepare a) The General Journal Closing entries for Shona’s Real Estate b) A Post-closing Trial Balance for Shona’s Real Estate Shona’s Real Estate List of Account Balances As at 30 June 2020 Cash at Bank 67,400 Shona, Capital 146,500 Loan Payable 74,300 Accounts Receivable 2,100 Revenue 143,000 Supplies 2,000 Motor Vehicles 89,000 Accumulated Depreciation- Motor Vehicles 8,200 Rent Expense 80,000 Unearned Revenue 1,700 Prepaid Advertising 1,200 Shona, Drawings 45,500 Accounts Payable 17,500 Wages Expense...
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            ...
REQUIREMENTS: 1. Prepare Journal Entries in the General Journal and post to the General Ledger. 2....
REQUIREMENTS: 1. Prepare Journal Entries in the General Journal and post to the General Ledger. 2. Prepare adjusting entries in the General Journal and post to the General Ledger. 3. Prepare an Income Statement, Equity Statement, and Balance Sheet 4. Prepare closing entries in the General Journal for the month of October. Note: If you are using the Journal Forms provided in Excel, you will only need to enter your transactions in the journal. The General Ledger and the Financial...
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...
Make all of the necessary journal entries for the following (7, 8, and 9) independent transactions:...
Make all of the necessary journal entries for the following (7, 8, and 9) independent transactions: 7. The company pledged its $10,000 notes receivables to a bank and received a loan of $8,500. The note is not paid on the maturity. (Protest fee $6) 8. The company discounted its notes receivables for $5,000 and collected $4,400. This note is paid on maturity. 9. The company gave its $60,000 note receivable to a bank for collection. The note is not paid...
Exercise 3-18A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker Incorporated’s fiscal...
Exercise 3-18A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker Incorporated’s fiscal year-end is December 31, 2021. The following is an adjusted trial balance as of December 31.        Accounts Debit Credit Cash $ 12,000 Supplies 39,000 Prepaid Rent 30,000 Accounts Payable $ 3,000 Notes Payable 30,000 Common Stock 40,000 Retained Earnings 9,000 Dividends 4,000 Service Revenue 54,000 Salaries Expense 20,000 Advertising Expense 13,000 Rent Expense 10,000 Utilities Expense 8,000 Totals $ 136,000 $ 136,000    ...
Roscoe has attempted to prepare the closing entries for Chandler Company on this panel. He’s not...
Roscoe has attempted to prepare the closing entries for Chandler Company on this panel. He’s not sure if he’s entered the journal entries correctly, and asks you to review them. You find that one entry is correct, but the other is incorrect. Determine which entry is incorrect, and journalize both closing entries for Chandler Company as of Dec. 31 on the Journal panel. PAGE 25 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Closing Entries...
List the following steps of the accounting cycle in their proper order. Steps Order 1. Summarize...
List the following steps of the accounting cycle in their proper order. Steps Order 1. Summarize unadjusted ledger accounts and amounts in an unadjusted trial balance. 2. Use the adjusted trial balance to prepare financial statements. 3. Summarize adjusted ledger accounts and amounts in an adjusted trial balance. 4. Record adjustments to bring account balances up to date. 5. Create the post-closing trial balance. 6. Posting the debits and credits from the journal in the ledger. 7. Journalizing business events...
Flow of Accounts into Financial Statements The balances for the accounts that follow appear in the...
Flow of Accounts into Financial Statements The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, retained earnings statement, or balance sheet. 1. Accumulated Depreciation—Building 2. Cash 3. Fees Earned 4. Insurance Expense 5. Prepaid Rent 6. Supplies 7. Dividends 8. Wages Expense
On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances: Accounts...
On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances: Accounts Debit Credit Cash $ 101,200 Accounts receivable 34,000 Inventory 152,000 Land 67,300 Buildings 120,000 Allowance for uncollectible accounts $ 1,800 Accumulated depreciation 9,600 Accounts payable 17,700 Bonds payable 120,000 Discount on bonds payable 30,000 Common stock 200,000 Retained earnings 155,400 Totals $ 504,500 $ 504,500 During January 2021, the following transactions occurred: January 1 Borrowed $100,000 from Captive Credit Corporation. The installment note bears...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT