This is a partial adjusted trial balance of Carla Vista Co.. CARLA VISTA CO. Adjusted Trial...

This is a partial adjusted trial balance of Carla Vista Co.. CARLA VISTA CO. Adjusted Trial Balance January 31, 2022 Debit Credit Supplies $780 Prepaid Insurance 1,620 Salaries and Wages Payable $1,030 Unearned Service Revenue 780 Supplies Expense 960 Insurance Expense 540 Salaries and Wages Expense 1,700 Service Revenue 4,020 Prepare the closing entries at January 31, 2022.

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ekkarill92 answered 2 years ago

This is a partial adjusted trial balance of Wildhorse Co.. WILDHORSE CO. Adjusted Trial Balance January...

This is a partial adjusted trial balance of Wildhorse Co.. WILDHORSE CO. Adjusted Trial Balance January 31, 2017 Debit Credit Supplies $780 Prepaid Insurance 1,620 Salaries and Wages Payable $1,040 Unearned Service Revenue 710 Supplies Expense 910 Insurance Expense 540 Salaries and Wages Expense 1,770 Service Revenue 4,350 Prepare the closing entries at January 31, 2017. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented...

At the end of its fiscal year, the adjusted trial balance of Carla Vista Company is...

At the end of its fiscal year, the adjusted trial balance of Carla Vista Company is as follows: CARLA VISTA COMPANY Adjusted Trial Balance July 31, 2017 Debit Credit Cash $4,560 Accounts receivable 11,420 Prepaid rent 500 Supplies750 Debt investments8,000 Equipment19,950 Accumulated depreciation—equipment $5,700 Patents 18,300 Accounts payable 4,275 Interest payable 750 Unearned revenue 2,050 Notes payable (due on July 1, 2019) 45,900 B. Carla Vista, capital 28,285 B. Carla Vista, drawings 16,800 Service revenue74,900 Interest revenue320 Depreciation expense2,850 Interest...

This is a partial adjusted trial balance of Sandhill Co..

This is a partial adjusted trial balance of Sandhill Co.. SANDHILL CO. Adjusted Trial Balance January 31, 2022 SuppliesDebit CreditPrepaid Insurance$880Salaries and Wages Payable1,620Unearned Service Revenue$1,010Supplies Expense860Insurance Expense540Salaries and Wages Expense1,800Service Revenue870Prepare the closing entries at January 31, 2022. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

This is a partial adjusted trial balance of Sunland Company. SUNLAND COMPANY Adjusted Trial Balance January...

This is a partial adjusted trial balance of Sunland Company. SUNLAND COMPANY Adjusted Trial Balance January 31, 2017 Debit Credit Supplies $770 Prepaid Insurance 1,470 Salaries and Wages Payable $1,040 Unearned Service Revenue 720 Supplies Expense 800 Insurance Expense 490 Salaries and Wages Expense 1,890 Service Revenue 4,330 Prepare the closing entries at January 31, 2017.

Carla Vista Shoes’ comparative balance sheet is presented below. Carla Vista reports under ASPE. CARLA VISTA...

Carla Vista Shoes’ comparative balance sheet is presented below. Carla Vista reports under ASPE. CARLA VISTA SHOES Balance Sheet December 31 Assets 2021 2020 Cash $25,380 $15,930 Accounts receivable 21,780 20,070 Long-term investments 20,700 14,400 Equipment 54,000 63,000 Accumulated depreciation—equipment (12,600 ) (9,000 ) Total $109,260 $104,400 Liabilities and Shareholders’ Equity Accounts payable $17,640 $9,990 Notes payable 9,000 27,000 Common shares 54,000 40,500 Retained earnings 28,620 26,910 Total $109,260 $104,400 Additional Information: 1. Profit was $25,470. Dividends declared and paid...

Shown below are comparative balance sheets for Carla Vista Company. Carla Vista Company Comparative Balance Sheets...

Shown below are comparative balance sheets for Carla Vista Company. Carla Vista Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 170,000 $ 55,000 Accounts receivable 220,000 190,000 Inventory 417,500 472,500 Land 200,000 250,000 Equipment 650,000 500,000 Accumulated depreciation—equipment (165,000 ) (80,000 ) Total $1,492,500 $1,387,500 Liabilities and Stockholders’ Equity Accounts payable $ 97,500 $ 107,500 Bonds payable 375,000 500,000 Common stock ($1 par) 540,000 435,000 Retained earnings 480,000 345,000 Total $1,492,500 $1,387,500 Additional information: 1. Net income...

The post-closing trial balance of Carla Vista Corporation at December 31, 2020, contains the following stockholders’...

The post-closing trial balance of Carla Vista Corporation at December 31, 2020, contains the following stockholders’ equity accounts. Preferred Stock (14,300 shares issued) $715,000 Common Stock (253,000 shares issued) 3,795,000 Paid-in Capital in Excess of Par—Preferred Stock 253,000 Paid-in Capital in Excess of Par—Common Stock 396,000 Common Stock Dividends Distributable 379,500 Retained Earnings 777,600 A review of the accounting records reveals the following. 1. No errors have been made in recording 2020 transactions or in preparing the closing entry for...

Carla Vista Co. owns a trade name that was purchased in an acquisition of Wildhorse Co.....

Carla Vista Co. owns a trade name that was purchased in an acquisition of Wildhorse Co.. The trade name has a book value of $3,500,000, but according to IFRS, it is assessed for impairment on an annual basis. To perform this impairment test, Carla Vista must estimate the fair value of the trade name (using IFRS 13). It has developed the following cash flow estimates related to the trade name based on internal information. Each cash flow estimate reflects Carla...

A partial statement of financial position of Carla Vista Ltd. on December 31, 2016, showed the...

A partial statement of financial position of Carla Vista Ltd. on December 31, 2016, showed the following property, plant, and equipment assets accounted for under the cost model (accumulated depreciation includes depreciation for 2016): Buildings $300,000 Less: accumulated depreciation 100,000 $200,000 Equipment $131,000 Less: accumulated depreciation 51,000 80,000 Carla Vista uses straight-line depreciation for its building (remaining useful life of 20 years, no residual value) and for its equipment (remaining useful life of 8 years, no residual value). Carla Vista...

Balance Sheet from Adjusted Trial Balance The following is the alphabetical adjusted trial balance of the...

Balance Sheet from Adjusted Trial Balance The following is the alphabetical adjusted trial balance of the Meadows Company on December 31, 2016: Debits Credits Accounts Payable $ 9,800 Accounts Receivable $ 19,000 Accrued Payables 7,100 Accumulated Depreciation 44,000 Additional Paid-in Capital 50,600 Cash 7,900 Common Stock, $5 par 29,600 Cost of Goods Sold 179,500 Current Portion of Long-Term Debt 6,200 Deferred Taxes Payable 12,500 Dividends Distributed 7,000 General Expenses 27,560 Income Tax Expense 12,340 Income Taxes Payable 7,500 Interest Expense...

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