Question

In: Accounting

Ernest Real Estate Appraisal Adjusted Trial Balance June 30, 2018 Balance Account Title Debit Credit Cash...

Ernest Real Estate Appraisal

Adjusted Trial Balance

June 30, 2018

Balance

Account Title

Debit

Credit

Cash

$5,000

Accounts Receivable

5,500

Office Supplies

2,400

Prepaid Insurance

2,700

Land

13,200

Building

79,000

Accumulated Depreciation—Building

$25,300

Accounts Payable

19,400

Interest Payable

8,000

Salaries Payable

1,700

Unearned Revenue

700

Notes Payable (long-term)

45,000

Common Stock

6,000

Retained Earnings

35,000

Dividends

26,000

Service Revenue

47,800

Insurance Expense

3,900

Salaries Expense

32,600

Supplies Expense

900

Interest Expense

8,000

Utilities Expense

1,800

Depreciation Expense—Building

7,900

Total

$188,900

$188,900

1.

 Prepare the company's income statement for the year ended

June 30 comma 2018June 30, 2018.

2.

 Prepare the company's statement of retained earnings for the year ended

June 30 comma 2018June 30, 2018.

3.

 Prepare the company's classified balance sheet in report form at

June 30, 2018.

4.

Journalize the closing entries.

5.

T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the T-accounts.

6.

 Prepare the company's post-closing trial balance at

JJune 30, 2018.



Solutions

Expert Solution

ekkarill92 answered 8 months ago
Next > < Previous

Related Solutions

Rockin Robbin Music Company Adjusted Trial Balance June 30, 2018 Balance Account Title Debit Credit Cash...
Rockin Robbin Music Company Adjusted Trial Balance June 30, 2018 Balance Account Title Debit Credit Cash $3,600 Accounts Receivable 38,700 Merchandise Inventory 17,800 Office Supplies 800 Furniture 39,600 Accumulated Depreciation—Furniture $8,900 Accounts Payable 14,100 Salaries Payable 1,100 Unearned Revenue 6,900 Notes Payable, long-term 13,000 Robbin, Capital 33,250 Robbin, Withdrawals 43,000 Sales Revenue 189,000 Cost of Goods Sold 85,050 Selling Expense 19,100 Administrative Expense 17,500 Interest Expense 1,100 Total $266,250 $266,250 1.Prepare Rockin Robbin's ​multi-step income statement for the year ended...
The adjusted trial balance of Eldrich Real Estate Appraisal at June 30 comma 2018 , follows:...
The adjusted trial balance of Eldrich Real Estate Appraisal at June 30 comma 2018 , follows: LOADING... (Click the icon to view the adjusted trial balance.) Read the requirements LOADING.... Requirement 1. Prepare the company's income statement for the year ended June 30 comma 2018. (If a box is not used in the statement, leave the box empty; do not select a label or enter a zero. Use a minus sign or parentheses to show a net loss.) Eldrich Real...
Green Advertising Services Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash $14,000...
Green Advertising Services Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash $14,000 Accounts Receivable 15,800 Office Supplies 6,500 Land 18,400 Building 47,900 Accumulated Depreciation—Building $36,100 Furniture 19,600 Accumulated Depreciation—Furniture 14,100 Accounts Payable 10,600 Salaries Payable 7,200 Unearned Revenue 16,000 Common Stock 30,000 Retained Earnings 31,400 Dividends 18,300 Service Revenue 49,800 Salaries Expense 28,600 Supplies Expense 8,400 Depreciation Expense—Building 2,900 Depreciation Expense—Furniture 1,300 Advertising Expense 13,500 Total $195,200 $195,200 Requirement 2. Prepare the statement of retained earnings...
Green Advertising Services Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash $14,000...
Green Advertising Services Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash $14,000 Accounts Receivable 15,800 Office Supplies 6,500 Land 18,400 Building 47,900 Accumulated Depreciation—Building $36,100 Furniture 19,600 Accumulated Depreciation—Furniture 14,100 Accounts Payable 10,600 Salaries Payable 7,200 Unearned Revenue 16,000 Common Stock 30,000 Retained Earnings 31,400 Dividends 18,300 Service Revenue 49,800 Salaries Expense 28,600 Supplies Expense 8,400 Depreciation Expense—Building 2,900 Depreciation Expense—Furniture 1,300 Advertising Expense 13,500 Total $195,200 $195,200 Requirement 3. Prepare the classified balance sheet as...
COUNTRYSIDE PAINTING SPECIALISTS Trial Balance November 30, 2018 Account Title Balance Debit Credit Cash $ 12,100...
COUNTRYSIDE PAINTING SPECIALISTS Trial Balance November 30, 2018 Account Title Balance Debit Credit Cash $ 12,100 Accounts Receivable 1,300 Office Supplies 200 Painting Equipment 13,500 Accounts Payable $ 3,300 Unearned Revenue 1,700 Common Stock 15,000 Dividends 3,500 Service Revenue 15,600 Advertising Expense 550 Rent Expense 1,800 Salaries Expense 2,400 Utilities Expense 250 Total $ 35,600 $ 35,600 P2-29A Requirement 1 Date Accounts and Explanation Post Ref. Debit Credit July 1 Cash 63,000 Common Stock 63,000 5 Rent Expense 510 Cash...
ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2013 No. Account Title Debit Credit 101 Cash...
ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2013 No. Account Title Debit Credit 101 Cash 19,000   126 Supplies 7,000   128 Prepaid insurance 6,000   167 Equipment 139,290   168 accumulated Depreciation – Equipment $ 22,000   201 Accounts payable 6,200   251 Long-term notes payable 21,000   301 V. Ace, equity 79,900   302 V. Ace, withdrawals 26,500   401 Construction fees earned 144,000   623 Wages expense 49,000   633 Interest expense 2,310   640 Rent expense 13,000   683 Property taxes expense 4,100   684 Repairs expense 2,600   690...
Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 11,000.00 2...
Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 11,000.00 2 Laundry Supplies 21,500.00 3 Prepaid Insurance 9,600.00 4 Laundry Equipment 232,600.00 5 Accumulated Depreciation 125,400.00 6 Accounts Payable 11,800.00 7 Sophie Perez, Capital 105,600.00 8 Sophie Perez, Drawing 10,000.00 9 Laundry Revenue 232,200.00 10 Wages Expense 125,200.00 11 Rent Expense 40,000.00 12 Utilities Expense 19,700.00 13 Miscellaneous Expense 5,400.00 14 Totals 475,000.00 475,000.00 The data needed to determine year-end adjustments are as follows: •...
Following is the adjusted trial balance of Wilson Trucking Company       Account Title Debit Credit...
Following is the adjusted trial balance of Wilson Trucking Company       Account Title Debit Credit Cash $ 5,400 Accounts receivable 29,000 Office supplies 6,573 Trucks 161,000 Accumulated depreciation—Trucks $ 33,166 Land 42,000 Accounts payable 9,400 Interest payable 20,000 Long-term notes payable 60,000 Common stock 23,624 Retained earnings 94,498 Dividends 17,000 Trucking fees earned 124,000 Depreciation expense—Trucks 21,392 Salaries expense 56,046 Office supplies expense 16,000 Repairs expense—Trucks 10,277 Totals $ 364,688 $ 364,688 Use the above adjusted trial balance to...
Account Unadjusted trial balance(debit) Unadjusted trial balance(credit Adjusting entries(debit) adjusting entries(credit) adjusted trial balance(debit) Adjusted trial...
Account Unadjusted trial balance(debit) Unadjusted trial balance(credit Adjusting entries(debit) adjusting entries(credit) adjusted trial balance(debit) Adjusted trial balance(credit) Cash 32,236.75 32,236.75 baking supplies 18,500 18,500 merchandise inventory(fifo) 175.65 175.65 prepaid rent 1500 1500 prepaid insurance 2400 2400 baking equipment 6000 6000 accumulated depreciation 208.33 208.33 office supplies 600 600 accounts receivable 7700 7700 notes payable 10,000 10,000 wages payable 480 480 common stock 16,000 16,000 dividends 10,000 10,000 bakery sales 55,000 55,000 merchandise sales 221 221 baking supplies expense rent expense...
The adjusted trial balance at April 30, 2017, for Willard Co. follows. Account Debit Credit Cash...
The adjusted trial balance at April 30, 2017, for Willard Co. follows. Account Debit Credit Cash $106,300 Accounts receivable 25,620 Trucks 560,000 Accumulated depreciation, trucks $84,000 Franchise 55,000 Accounts payable 20,540 Salaries payable 10,200 Unearned revenue 35,000 Sid Willard, capital 250,000 Sid Willard, withdrawals 75,000 Plumbing revenue 850,630 Depreciation expense, trucks 84,000 Salaries expense 272,450 Rent expense 60,000 Advertising expense 12,000 Income summary Totals $1,250,370 $1,250,370 Required: 1.      Prepare the four closing entries. 2.      Prepare a post-closing trial balance.
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT