ACCT 2001 Chapter : Start Of Chapter 2 Warm Up Exercise
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On December 31 adjusting entries for the following transactions.1. Fees accrued but not billed, $6,300. 2. The Supplies accountbalance on December 31, $4,750; Supplies on hand, $960. 3. Wagesaccrued but not paid, $2,700. 4. Depreciation of office equipment,$1,650. 5. Rent expired during year, $10,800.
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General Journal
Prepare the December 31 adjusting entries for each transactions.Refer to the Chart of Accounts for exact wording of accounttitles.
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JOURNAL
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10 | need help with a general journal |
I need help please
This will be worth 20 point possible points andis part 2 of chapter 3 test.
Murray Decorating Studios
Adjusted Trial Balance
December 31, 2014
List of Accounts | Each account has a normal balance |
Cash | 3032 |
Accounts receivable | 1700 |
Prepaid expenses | 250 |
Supplies | 150 |
Equipment | 4600 |
Accumulated depreciation | 25 |
Land | 3750 |
Accounts payable | 220 |
Wages payable | 400 |
Utilities payable | 52 |
Short-term note payable | 400 |
Interest payable | 37 |
Income tax payable | 244 |
Unearned revenue | 1200 |
Long-term note payable | 3300 |
Common stock | 150 |
Additional paid-in-capital | 8850 |
Retained earnings | 0 |
Dividends | 1500 |
Decorating revenue | 5600 |
Interest revenue | 12 |
Supplies expense | 350 |
Wages expense | 4300 |
Fuel expense | 410 |
Insurance expense | 50 |
Utilities expense | 52 |
Depreciation expense | 25 |
Interest expense | 77 |
Income tax expense | 244 |
Prepare the closing entries for this company.
Presented here are the accounts of
Town and Country RealtyTown and Country Realty
for the year ended
DecemberDecember
Land | $10,000 | Owner contribution, 2018 | $36,000 | |
Notes Payable | 29,000 | Accounts Payable | 10,000 | |
Property Tax Expense | 2,400 | Accounts Receivable | 1,300 | |
Hicks, Withdrawals | 36,000 | Advertising Expense | 12,000 | |
Rent Expense | 8,000 | Building | 194,800 | |
Salaries Expense | 63,000 | Cash | 2,200 | |
Salaries Payable | 800 | Equipment | 13,000 | |
Service Revenue | 235,000 | Insurance Expense | 1,800 | |
Office Supplies | 9,000 | Interest Expense | 7,300 | |
Hicks, Capital, Dec. 31, 2017 | 50,000 |
PrintDone
3131â,
20182018.
LOADING...
â(Click the icon to view theâ accounts.)
Requirements
1. | Prepare Town and Country Realty'sTown and Country Realty's income statement. |
2. | Prepare the statement ofâ owner's equity. |
3. | Prepare the balance sheet. |
Requirement 1. Prepare
Town and Country Realty'sTown and Country Realty's
income statement.
Town and Country Realty | ||||
Income Statement | ||||
Year Ended December 31, 2018 | ||||
Revenues: | ||||
Service Revenue | ||||
Expenses: | ||||
Salaries Expense | ||||
Insurance Expense | ||||
Advertising Expense | ||||
Rent Expense | ||||
Interest Expense | ||||
Property Tax Expense | ||||
Total Expenses | ||||
Net Income |