Question
In: Accounting
Consider the following information from a company’s unadjusted trial balance at December 31, 2015. All accounts...
|
Consider the following information from a company’s unadjusted trial balance at December 31, 2015. All accounts have normal balances. |
| Accounts receivable | $ | 5,000 |
| Accounts payable | 675 | |
| Cash | 1,750 | |
| Service revenue | 6,150 | |
| Common stock | 4,500 | |
| Equipment | 5,400 | |
| Insurance expense | 425 | |
| Land | 4,300 | |
| Notes payable, due 2018 | 4,500 | |
| Notes receivable, matures 2016 | 1,250 | |
| Prepaid insurance | 425 | |
| Rent expense | 1,425 | |
| Retained earning, January 1, 2015 | 7,900 | |
| Salaries and wages expense | 3,750 | |
What is the total of the debit side of the unadjusted trial balance? |
||
Solutions
Expert Solution
- All working forms the part of the answer
- The given balances are classified into Debit balances and Credit balances.
|
Accounts Titles |
Amount given |
Debit |
Credit |
|
Accounts receivable |
5,000 |
$ 5,000.00 |
|
|
Accounts payable |
675 |
$ 675.00 |
|
|
Cash |
1,750 |
$ 1,750.00 |
|
|
Service revenue |
6,150 |
$ 6,150.00 |
|
|
Common stock |
4,500 |
$ 4,500.00 |
|
|
Equipment |
5,400 |
$ 5,400.00 |
|
|
Insurance expense |
425 |
$ 425.00 |
|
|
Land |
4,300 |
$ 4,300.00 |
|
|
Notes payable, due 2018 |
4,500 |
$ 4,500.00 |
|
|
Notes receivable, matures 2016 |
1,250 |
$ 1,250.00 |
|
|
Prepaid insurance |
425 |
$ 425.00 |
|
|
Rent expense |
1,425 |
$ 1,425.00 |
|
|
Retained earning, January 1, 2015 |
7,900 |
$ 7,900.00 |
|
|
Salaries and wages expense |
3,750 |
$ 3,750.00 |
|
|
TOTALs |
$ 23,725.00 |
$ 23,725.00 |
- The total of debit (and credit side) of the Unadjusted Trial balance = $23,725
ekkarill92 answered 2 years agoRelated Solutions
Consider the following information from a company’s unadjusted trial balance at December 31, 2018. All accounts...
Consider the following information from a company’s unadjusted
trial balance at December 31, 2018. All accounts have normal
balances. Accounts Receivable $ 5,300 Accounts Payable 690 Cash
1,780 Service Revenue 6,540 Common Stock 4,800 Equipment 5,700
Insurance Expense 440 Land 4,600 Notes Payable, Due 2021 4,800
Notes Receivable, Matures 2019 1,280 Prepaid Insurance 440 Rent
Expense 1,440 Retained Earning, January 1, 2018 7,930 Salaries and
Wages Expense 3,780 What is the total of the debit side of the
unadjusted trial...
Garvey Company’s unadjusted trial balance includes the following account balances as of December 31, 2015: Debits...
Garvey Company’s unadjusted
trial balance includes the following account balances as of
December 31, 2015:
Debits
Credits
Cash
$
69,420
Accounts
receivable
118,700
Interest
receivable
1,380
Supplies
141,400
Prepaid
insurance
8,900
Notes Receivable
(short-term)
51,200
Equipment
283,400
Accumulated
Depreciation––Equipment
$
65,700
Accounts
payable
106,100
Salaries and Wages
Payable
22,000
Unearned
revenue
9,600
Notes Payable
(long-term)
89,000
Common Stock
220,500
Retained
earnings
146,300
Service revenue
41,300
Interest
revenue
22,300
Supplies
Expense
0
Repair and
Maintenance Expense
27,000
Rent Expense
18,200
Depreciation...
Garvey Company’s unadjusted trial balance includes the following account balances as of December 31, 2015: Debits...
Garvey Company’s unadjusted trial balance includes the following
account balances as of December 31, 2015: Debits Credits Cash $
69,290 Accounts receivable 118,100 Interest receivable 1,360
Supplies 140,700 Prepaid insurance 8,850 Notes Receivable
(short-term) 50,900 Equipment 282,000 Accumulated
Depreciation––Equipment $ 65,400 Accounts payable 105,600 Salaries
and Wages Payable 21,900 Unearned revenue 9,500 Notes Payable
(long-term) 88,600 Common Stock 219,400 Retained earnings 145,600
Service revenue 41,100 Interest revenue 22,200 Supplies Expense 0
Repair and Maintenance Expense 26,850 Rent Expense 18,100
Depreciation...
The following list of accounts is taken from the December 31, 2020, unadjusted trial balance of...
The following list of accounts is taken from the December 31,
2020, unadjusted trial balance of Perdu Sales, a business that is
owned by Eldon Perdu.
Debit
Credit
Cash
$
8,000
Merchandise inventory
9,800
Prepaid selling expense
8,000
Store equipment
40,000
Accumulated depreciation, store equipment
$
9,800
Accounts payable
14,840
Salaries payable
0
Eldon Perdu, capital
25,360
Eldon Perdu, withdrawals
3,600
Sales
858,000
Sales returns and allowances
33,000
Sales discounts
8,000
Cost of goods sold
431,000
Sales salaries expense
94,000...
JC’s Company’s unadjusted and adjusted trial balances at December 31, 2017, follow. Unadjusted trial Balance DR...
JC’s Company’s unadjusted and
adjusted trial balances at
December 31, 2017, follow.
Unadjusted trial
Balance
DR
CR
Cash
105,000
Prepaid Rent
60,000
Supplies
38,000
Office furniture
460,000
Accumulated dep office furniture
92,000
Accounts payable
102,500
Salaries payable
Unearned service revenue
15,900
SWT, Capital
453,000
SWT, Drawing
15,400
Service revenue
205,000
Salaries expense
110,000
Depreciation expense
Supplies Expense
Rent Expense
80,000
868,400
868,400
Adjusted Trial
Balance
DR
CR
Cash
105,000
Prepaid Rent
20,000
Supplies
19,500
Office furniture
460,000
Accumulated dep office...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020:...
The following account balances were taken from ABC Company’s unadjusted trial
balance at December 31, 2020:
Accounts Payable ............ $56,000
Accounts Receivable ......... $42,000
Cash ........................ $11,000
Common Stock ................ $63,000
Cost of Goods Sold .......... $52,000
Income Tax Expense .......... $12,000
Insurance Expense ........... $21,000
Inventory ................... $70,000
Land ........................ $68,000
Mortgage Payable ............ $49,000
Patent ...................... $31,000
Prepaid Insurance ........... $17,000
Rental Revenue .............. $46,000
Retained Earnings ........... $72,000 (at January 1, 2020)
Sales Revenue ............... $95,000
Supplies...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020:...
The following account balances were taken from ABC Company’s unadjusted trial
balance at December 31, 2020:
Accounts Payable ............ $56,000
Accounts Receivable ......... $42,000
Cash ........................ $11,000
Common Stock ................ $63,000
Cost of Goods Sold .......... $52,000
Income Tax Expense .......... $12,000
Insurance Expense ........... $21,000
Inventory ................... $70,000
Land ........................ $68,000
Mortgage Payable ............ $49,000
Patent ...................... $31,000
Prepaid Insurance ........... $17,000
Rental Revenue .............. $46,000
Retained Earnings ........... $72,000 (at January 1, 2020)
Sales Revenue ............... $95,000
Supplies...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020:...
The following account balances were taken from ABC Company’s unadjusted trial
balance at December 31, 2020:
Accounts Payable ............ $56,000
Accounts Receivable ......... $42,000
Cash ........................ $11,000
Common Stock ................ $63,000
Cost of Goods Sold .......... $52,000
Income Tax Expense .......... $12,000
Insurance Expense ........... $21,000
Inventory ................... $70,000
Land ........................ $68,000
Mortgage Payable ............ $49,000
Patent ...................... $31,000
Prepaid Insurance ........... $17,000
Rental Revenue .............. $46,000
Retained Earnings ........... $72,000 (at January 1, 2020)
Sales Revenue ............... $95,000
Supplies...
3. Selected accounts from the December 31, 2015, adjusted trial balance of the Hodges Company are...
3. Selected accounts from the December
31, 2015, adjusted trial balance of the Hodges Company are shown
below.
Debit
Credit
Inventory, January 1, 2015
$30,000
Sales Revenue
$90,000
Sales Returns and Allowances
3,000
Purchases
40,000
Freight-In
2,500
Selling Expenses
14,000
Administrative Expenses
8,000
Bad Debts Expense
500
Depreciation Expense-Building
1,500
Interest Expense
2,000
Income Tax Expense
2,200
Dividends
2,100
On December 31, 2015 the inventory was $18,000.
Required: Prepare a
2015 income statement for the Hodges Company.
ANSWER:
S Company’s unadjusted trial balance at December 31 (the end of the fiscal year) includes the...
S Company’s unadjusted trial balance at December 31 (the end of
the fiscal year) includes the following accounts:
Allowance for Doubtful Accounts: Debit balance $4,000
Accounts Receivable: $1,5000,000
S Company estimates its bad debt expense to be 1.5% of ending
receivables. Determine its bad debt expense for the fiscal year
ended December 31.
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Question 2 : Aggregate Scores: Write a program that opens 2 files, quiz.txt, and hw.txt. The...
- Define the term symbiosis specifically as it applies in a biological context. Compare and contrast parasitism,...
- A research team conducted a study showing that approximately 20% of all businessmen who wear ties...
- Research the internet for companies that have executed data science projects. Pick one company and describe...
- Explain two theories or frameworks for understanding how Western Europe emerged out of 1,000 years of...
- Two cannons are mounted as shown in the drawing and rigged to fire simultaneously. They are...
- What is the potential of a cell made up of Zn|Zn2+ and Cu|Cu2+ half-cells at 25o...
ADVERTISEMENT