Following is the adjusted trial balance, with accounts in alphabetical order, for eSOFT as at September 30,
Question:
Required
Prepare the closing entries.
Transcribed Image Text:
Debit Credit 14,500 10,500 Accounts payable Accumulated depreciation, office equipment Cash Consulting fees earned S 14,000 123,000 3,500 31,500 6,800 Office equipment Prepaid rent Sandra Sloley, capital Sandra Sloley, withdrawals Unearned consulting fees Rent expense Wages expense Totals 20,350 69,000 21,700 13,500 $190,050 $190,050
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
2014 Sept 30 30 30 30 Closing entries Consulting Fees Earned Income Summary To close reven...View the full answer
Answered By
Mehwish Aziz
What I have learnt in my 8 years experience of tutoring is that you really need to have a friendly relationship with your students so they can come to you with their queries without any hesitation. I am quite hardworking and I have strong work ethics. Since I had never been one of those who always top in the class and always get A* no matter what, I can understand the fear of failure and can relate with my students at so many levels. I had always been one of those who had to work really hard to get decent grades. I am forever grateful to some of the amazing teachers that I have had who made learning one, and owing to whom I was able to get some extraordinary grades and get into one of the most prestigious universities of the country. Inspired by those same teachers, I am to be like one of them - who never gives up on her students and always believe in them!
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
Question Posted:
Students also viewed these Accounting questions
-
The following is the adjusted trial balance of Lending Hand, Inc., for December 31, 2012. Requirement 1. Journalize the closing entries at December 31, 2012. Lending Hand, Inc. Adjusted Trial Balance...
-
The following is the adjusted trial balance of Healthy Way, Inc., for January 31, 2012. Requirement 1. Journalize the closing entries at January31. Healthy Way, Inc. Adjusted Trial Balance January...
-
The following is the adjusted trial balance of Qwik Care Clinic, Inc. for December 31, 2013. Requirement Journalize the closing entries at December 31. Qwik Care Clinic, Inc Adjusted Trial Balance...
-
paraphrase the following two passages using narrative in-text citations: 1.Those who teach ethics don't need to look far for lessons. Every day there's fresh scandal: Google is in hot water for how...
-
What are the two main cycles in search engines? Describe the steps in each cycle.
-
The surface tension of a liquid is to be measured using a liquid film suspended on a U-shaped wire frame with an 8-cm-long movable side. If the force needed to move the wire is 0.024 N, determine the...
-
Muriel Santelli had recently been appointed controller of the breakfast cereals division of a major food company. The division manager, Ram Krishnamurthi, was known as a hard-driving, intelligent,...
-
The effective capacity and efficiency for the next quarter at MMU Mfg. in Waco, Texas, for each of three departments are shown: Compute the expected production for next quarter for eachdepartment....
-
Owl Supermarkets Inc. (O-S-I) is a grocery store based in Houston, Texas. The company began its operations on January 1, 2021. During its first quarter of operations (January through end of March) in...
-
Read the case study and answer the question below with a one page response. What does a SWOT analysis reveal about the overall attractiveness of Under Armours situation? Founded in 1996 by former...
-
The following adjusted trial balance contains the accounts and balances of Stilz Co. as of December 31, 2014, the end of its fiscal year: Required Prepare the closing entries for the company. No...
-
The following closing entries were prepared for Apex Architectural Designs regarding its year just ended June 30, 2014: Required 1. Prepare an income statement based on the information provided. 2....
-
On Mollier diagram, free expansion, or throttling process from high pressure to the atmosphere is represented by: (a) Horizontal straight line (b) Vertical straight line (c) Curved line (d) None of...
-
A manufacturing company produces a product that sells for $12.00 per unit. Each unit of output has a variable cost of $4.00. Fixed operating costs are $180,000 per year. The firm has a $550,000 bond...
-
Describe business marketing. Describe the role of theinternetin business marketing. Identify the four major categories of business market customers. Explain the major differences between business and...
-
A foreign investment project with an initial cost of $15,000 is expected to produce net cash flows in Australian Dollars of AUD6,500 for each of the next four years. The current exchange rate is...
-
Company Z is expected to pay a $5 dividend at the end of this year. You expect Company Z's dividend to grow by 4% per year forever. Company Z's equity cost of capital is 10% What is the value of a...
-
Fast Co. produces its product through two processing departments. Direct materials are added at the start of production in the Cutting department, and conversion costs are added evenly throughout...
-
Solve, giving your answers to 3 significant figures. a. 2 2x 6(2 x ) + 5 = 0 b. 3 2x 15(3 x ) + 44 = 0 c. 5 2x 6(5 x ) 7 = 0 d. 3 2x + 3 x + 1 10 = 0 e. 7 2x + 12 = 7 x + 1 f. 2 2x + 3(2 x ) 4...
-
Read the following description and Write a response of it. The discretion of public administrators can be decreased, but not altogether eliminated. Officials will use their discretion in any given...
-
Li Company produces large quantities of a standardized product. The following information is available for its production activities for January. Additional information about units and costs of...
-
Easton Co. produces its product through a single processing department. Direct materials are added at the start of production, and direct labor and overhead are added evenly throughout the process....
-
Ogden Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Direct labor and overhead are added evenly throughout the...
-
DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) 2018 2017 Assets Cash Accounts receivable Less: Allowance for uncollectible accounts $ 39 $ 23 47 53 (5) (4) Dividends...
-
Frank Incorporated is trying to decide whether to lease or purchase a plece of equipment needed for the next 10 years. The equipment would cost $53,000 to purchase, and maintenance costs would be...
-
Skull Company makes snowboards and uses the total cost method in setting product price. Its costs for producing 12,500 units follow. The company targets a 10.0% markup on total cost. Variable Costs...
Study smarter with the SolutionInn App