Question
In: Accounting
. FOR THE GIVEN INFORMATION BELOW CREATE T-accounts, trial balances GIVEN ARE THE OPENING BALANCES FOR...
.
FOR THE GIVEN INFORMATION BELOW CREATE T-accounts, trial balances
GIVEN ARE THE OPENING BALANCES FOR MONTH February
Cash24,650
Accounts Receivable11,950
Supplies (Asset)400
Computers2,000
Accumulated Amortization - Computer79
Vehicles5,000
Accumulated Amortization - Vehicles111
Furniture2,800
Accumulated Amortization - Furniture22
Land38,000
Accounts Payable750
J. Jones, Capital83,838
CLIENT #2 BALANCE- $1500
CLIENT #4 BALANCE- $11,350.
THESE ARE THE February transactions:
1Purchased additional $250 in supplies.
1Signed an insurance policy costing $3,600 over 3 years. Paid for February, March and April.
2Client #4 paid half of its bill.
5Bought supplies on account required for a client presentation. Supplies cost $250. Invoiced Client #5 a total of $1,400 for the presentation.
7Paid administrator a salary of $1,875.
16 Received balance owing from client #2.
19Received invoice for utility bills totalling $500.
28Administrator was not working out. Worked until end of February but, as yet, has not been paid.
28Jones estimates the same amount of supplies were used for each month. The remaining balance of supplies when counted on February 28 was $200.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
FOR THE GIVEN INFORMATION BELOW CREATE T-accounts, trial balances FOR FEB, USE THE OPENING BALANCE ,...
FOR THE GIVEN
INFORMATION BELOW CREATE T-accounts, trial balances FOR FEB, USE
THE OPENING BALANCE , DONT HAVE TO CREATE BALANCE FOR
JAN
January:
2Cash injection of
$90,000 from Jones in cash. $40,000 is to be treated as a
shareholder loan. The balance as a capital investment. The cash was
deposited in the company bank account. Jones also gave a computer
equipment worth $2,000, but wanted nothing in return for it.
3Purchase of $570 of
supplies for cash and $8,200...
Create T-accounts and then prepare a trial balance for the accounts below January 1st Cash 295,000...
Create T-accounts and then prepare a trial balance for the
accounts below
January 1st
Cash
295,000
Common stock
295,000
February 8th
Purchase
4,000
Cash
4,000
March 1st
Prepaid Insurance
9,300
Cash
9,300
March 31st
Rent
12,480
Cash
12,480
April 1st
Equipment
18,000
Cash
18,000
April 10th
Supplies
1,450
Accounts Payable
1,450
May 15th
Purchase
10,730
Cash
10,730
May 30th
Accounts Receivable
13,625
Service Revenue (For
grooming services)
13,625
June 1st
Advertisement expense
864...
Given the following accounts and balances produce a trial balance (in the correct order) and then...
Given the following accounts and balances produce a trial
balance (in the correct order) and then the Financial Statements.
Account description must be exactly as they appear in the list
below. Do not include any punctuation in numerical values. Each box
needs to be completed - if there is no value enter 0 (zero).
Account
Balance
Sales Revenue
50,000
Depreciation Expense
5,000
Cash at Bank
45,000
Accounts Payable
12,000
Motor Vehicle
50,000
Accounts Receivable
15,000
Rent Expense
10,000
Owners...
The balances for the accounts listed below appeared in the Adjusted Trial Balance columns of the...
The balances for the accounts listed below appeared in the
Adjusted Trial Balance columns of the work sheet. Indicate whether
each balance should be extended to (a) the Income Statement columns
or (b) the Balance Sheet columns.
(1) Salaries Payable _____
(7) Kim Lee, Drawing
____
(2) Fees Earned ______
(8) Equipment
____
(3) Accounts Payable _____
(9) Accounts Receivable
____
(4) Kim Lee, Capital ______
(10) Accumulated Depreciation
____
(5) Supplies Expense _____
(11) Salary Expense
____ ...
Given a random list of accounts with their normal balances, prepare a trial balance for Luxury...
Given a random list of accounts with their normal balances,
prepare a trial balance for Luxury Gifts Corporation as of December
31, 2019
Common stock
$5,500
Accounts Receivable
$2,000
Note Payable
3,500
Service
Revenue
12,000
Supplies
500
Insurance
Expense
700
Prepaid Insurance
1,400
Equipment
9,500
Salary Expense
8,000
Accounts
Payable
1,000
Dividends
2,000
Cash
1,000
Utilities Expense
1,000
Retained
Earnings
4,100
Prepare Journal Entries in good form for the following
transactions for the Goodland Company
The...
Create Trial Balace with T-Accounts. Then Create Income Statement, Statement of Retained Earnings, and finaly a...
Create Trial Balace with T-Accounts. Then Create Income
Statement, Statement of Retained Earnings, and finaly a Balance
Sheet.
CASH A/C
DEBIT
$ AMT
CREDIT
$ AMT
TO
COMMON STOCK
45000
BY PREPAID
RENT
9000
TO
NOTE PAYABLE
18000
BY PREPAID
INSURANCE(9MONTHS)
3600
TO
ACCOUNTS RECEIVABLE
4000
BY
REFREIGATOR
13000
BY
SALES TAX PAYABLE
760
BY DELIVERY
VAN
25000
BY
SALES TAX PAYABLE
240
BY ADVERTISING
EXPENSE
1200
BY
SALES TAX PAYABLE
360
BY PREPAID
ADVERTISING EXPENSE
300
BY SALES
9500...
Required information [The following information applies to the questions displayed below.] The accounts and balances for...
Required information
[The following information applies to the questions
displayed below.]
The accounts and balances for Paw Prints Pet Sitters on November
1 are provided below.
Cash
19,600
Fees Income
-0-
Accounts Receivable
840
Rent Expense
-0-
Office Equipment
2,400
Utilities Expense
-0-
Supplies
240
Salaries Expense
-0-
Accounts Payable
1,400
Kelly Connor, Capital
21,680
Kelly Connor, Drawing
-0-
The following transactions occurred during the month of
November.
Collected $340 from credit customers.
Issued a check for $750 for November's...
Complete T accounts for the transactions. Total the T accounts and add them to the trial...
Complete T accounts for the transactions. Total the T accounts
and add them to the trial balance. Use the trial balance to make
sure the accounts are balanced.
On 1/3/XX there is an interest payment received for $1.35.
On 5/3/XX fuel costing $18.00 is purchased.
On 6/3/XX there is a cash sale for $2,990.00.
On 7/3/XX stationery (toner) costing $247.00 is purchased.
On 11/3/XX there is a cash sale for $2,579.00.
On 12/3/XX fuel costing $36.50 is purchased.
On 13/3/XX...
The balances of select accounts of Elliott, Inc. as of December 31, 2018 are given below:...
The balances of select accounts of Elliott, Inc. as of
December 31, 2018 are given below:
Notes
Payablelong short−term
$1,400
Salaries Payable
4,000
Notes
Payablelong—long−term
22,000
Accounts Payable
3,000
Unearned Revenue
1,000
Interest Payable
2,300
The Unearned Revenue is the amount of cash received for services
to be rendered in January, 2019. The Interest Payable is due on
February 15, 2019. What are the total current liabilities shown on
the balance sheet at December 31, 2018?
The balances of select accounts of Elliott, Inc. as of December 31, 2018 are given below:...
The balances of select accounts of Elliott, Inc. as of
December 31, 2018 are given below: Notes Payablelong
dash—shortminus−term $ 1 comma 300$1,300 Salaries Payable 5 comma
0005,000 Notes Payablelong dash—longminus−term 25 comma 00025,000
Accounts Payable 3 comma 0003,000 Unearned Revenue 3 comma 0003,000
Interest Payable 2 comma 3002,300 The Unearned Revenue is the
amount of cash received for services to be rendered in January,
2019. The Interest Payable is due on February 15, 2019. What are
the total current...
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