After the accounts have been adjusted at October 31, the end of the fiscal year, the following
Question:
Retained Earnings $ 800,000
Dividends 125,000
Fees Earned 700,000
Wages Expense 400,000
Rent Expense 75,000
Supplies Expense 16,000
Miscellaneous Expense 5,000
Journalize the four entries required to close the accounts.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
Oct 31 Fees Earned 700000 Income Summary 700000 31 Income S...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Students also viewed these Accounting questions
-
After the accounts have been adjusted at June 30, the end of the fiscal year, the following balances were taken from the ledger of Hillcrest Landscaping Co.: Bryan Orr, Capital ........ $275,000...
-
After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Magnolia Landscaping Co.: Jayme Carmichael, Capital ............
-
After the accounts have been adjusted at Retained Earnings $ 275,000 Dividends 25,000 Fees Earned 400,000 Wages Expense 280,000 Rent Expense 40,000 Supplies Expense 3,000 Miscellaneous Expense 12,000...
-
Question B3 [2 points]. Examine, analytically and graphically in a diagramme drawn in the PD-z space, the effects of the increase in i*, and show that in the new equilibrium domestic prices can be...
-
Rikard's Menswear sells $4,750 of gift cards for cash in December 2017. Rikard's has a December 31 fiscal year end and uses a perpetual inventory system. In January 2018, $2,425 of the gift cards are...
-
How do you think the efficient-markets hypothesis impacts the drafting of accounting standards? Bear in mind that many questions have been raised about the efficient-markets hypothesis itself.
-
\(7 \times 29\) Use clock arithmetic \((\bmod 12)\), to perform the indicated calculation.
-
Selected transactions completed by Gampfer Company during its first fiscal year ending December 31 were as follows: Jan. 2. Issued a check to establish a petty cash fund of $3,200. Mar. 14....
-
Joy Elle's Vegetable Market had the following transactions during 2020: 1. Issued $100,000 of par value ordinary shares for cash. 2. Repaid a 6 year note payable in the amount of $44,000. 3. Acquired...
-
Daniel Merrill is the manager of an airport gift shop, Merrill News and Gifts. From the following data, Mr. Merrill wants a cash budget showing expected cash receipts and disbursements for the month...
-
The following accounts appear in an adjusted trial balance of Pilot Consulting. Indicate whether each account would be reported in the (a) Current asset: (b) Property, plant, and equipment; (c)...
-
From the following list of steps in the accounting cycle, identify what two steps are missing. a. Transaction are analyzed and recorded in the journal. b. An unadjusted trial balances is prepared. c....
-
A survey of 1500 U.S. adults found that 59% have never had a vaccine reaction. In Exercises 2534, identify the population and the sample. Describe the sample data set.
-
Evaluate the following integrals. SHOW COMPLETE SOLUTIONS. (10 points each) dx 1. 11x(x+4) 2. sin x cos 2x dx cosx It 3. f sin64x cos 12 4x dx 4 dx 4. x(x-1)
-
a.Transfer pricing is the method used to sell a product from one subsidiary to another within a company. It impacts the purchasing behaviour of the subsidiaries, and may have income tax implications...
-
Lyft launched its IPO on April 1 st 2019 with a share price of $72. Before the IPO, Lyft's board of directors was likely trying to decide how to compensate CEO Logan Green to provide an incentive for...
-
Deja Brew Company reported the following for the most recently completed fiscal year: Work - in - Process Inventory, Beginning $ 6 3 , 5 0 0 Raw Materials Purchased $ 1 0 9 , 6 0 0 Work - in -...
-
View Assessment C C + 84 minutes remaining Question 4 Find the domain of the expression (x+2)(x+3) (x + 2) (x 4) A) All x All x 2,4 B All x 2 C All x 4 D All N https://learning.rasmussen.ed
-
What are the implications of CSR for the way HRM activities are enacted in organisations?
-
Find the intercepts and then graph the line. (a) 2x - 3y = 6 (b) 10 - 5x = 2y
-
Mowal Plc. is offered a bank loan at a fixed rate of 6 percent or a floating rate of LIBOR + 0.5 percent. Sika Ltd. can borrow at a floating rate of LIBOR + 0.25 percent or a fixed rate of 5.25...
-
Vinnies House of Televisions has 75 identical 27-inch color monitors in stock on January 1, 2012. Vinnie maintains records of the serial number of each monitor to track its costs. Vinnie purchased...
-
Watkins Corporation began operations on January 1, 2010. The 2010 and 2011 schedules of inventory purchases and sales are as follows: Complete the following schedule, and briefly discuss the...
-
Heller Bottling Company began business in 2008. Inventory units purchased and sold for the first year of operations and each of the following four years follow: Inadequate cash flows forced Heller...
-
Investment - End of Chapter Problem Determine if the given people are demanders, suppliers, or not involved in the market for loanable funds. a . Latisha wants to save up for a new laptop to use in...
-
The Nash equilibrium is _ _ _ _ _ _ _ _ _ _ _ _ . A . Make concessions / Not invade.B . Make concessions / Invade . C . Tough / Invade . D . Tough / Not invade.E . There is no Nash equilibrium.
-
Flexible employee behaviours most supportive of successful value chain management are ________. communicating via social media focusing on fewer tasks working in teams organizing social activities
Study smarter with the SolutionInn App