From the following trial balance (Figure 4.19 , page 132) and adjustment data, complete a worksheet for
Question:
From the following trial balance (Figure 4.19 , page 132) and adjustment data, complete a worksheet for J. Trent as of July 31, 201X:
1. Depreciation expense, store equipment, $2.
2. Insurance expired, $1.
3. Store supplies on hand, $8.
4. Wages owed, but not paid for (they are an expense in the old year), $2.
J. TRENT TRIAL BALANCE JULY 31, 201X Account Titles Dr. Cr. 500 1000 Cash Accounts Receivable 700 900 Prepaid Insurance Store Supplies Store Equipment 1000 Accumulated Depreciation, Store Equipment 400 Accounts Payable 700 J. Trent, Capital J. Trent, Withdrawals 1900 200 Revenue from Clients 2800 Rent Expense 500 Wage Expense 1000 Totals 58 00 58 00
Step by Step Answer:
Account Titles Cash Accounts Receivable Prepaid Insurance Store ...View the full answer
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Students also viewed these Business questions
-
From the following trial balance (Figure 4.20 ) and adjustment data, complete a worksheet for J. Tren as of May 31, 201X: 1. Depreciation expense, store equipment, $4. 2. Insurance expired, $9. 3....
-
From the following trial balance (Figure) and adjustment data, complete a worksheet for J. Tripp as of October 31, 201X: a. Depreciation expense, equipment, $1. b. Insurance expired, $5. c. Store...
-
From the following trial balance (Figure 4.20) and adjustment data, complete a worksheet for J. Tutle as of March 31, 201X: a. Depreciation expense, store equipment, $1. b. Insurance expired, $1. c....
-
On January 1, 2014, Ultra Green Packaging purchased a used machine for $156,000. The next day, it was repaired at a cost of $4,068 and mounted on a new platform that cost $5,760. Management estimated...
-
What is internal control?
-
Show that for an connected graph G = (V,E) with |V| = n, the number of minimum cuts of G is at most n(n-1) Hint: Make use of the fact that the probability of the algorithm returning any fixed minimum...
-
Amy Cardoza, Jeff Williams, and Claire Mangoni are partners in an existing music business. Each partner's equity is \($32,000,\) for a total equity of \($96,000.\) The partners agree to admit Russ...
-
In Exercise 6 of Chapter 2, data on numbers of publications were given for an SRS of 50 faculty members. Not all departments were represented, however, in the SRS. The SRS contained several faculty...
-
QUESTION 5: The height of the bolt head used on a ship is "h(cm)" and the safe tension of a bolt with a bolt diameter of "d(cm)" is Tsafe (kg/cm). Find the force (Psafe) that can be applied to the...
-
After Chris completed the ratio analysis for S&S Air (see Chapter 3), Mark and Todd approached him about planning for next years sales. The company had historically used little planning for...
-
From the following adjustment data, calculate the adjustment amount and record appropriate debits or credits: 1. Supplies purchased, $1,100. Supplies on hand, $550. 2. Store equipment, $12,500....
-
One-eighth of a cycle after the capacitor in an LC circuit is fully charged, what are the following as fractions of their peak values: (a) capacitor charge, (b) energy in the capacitor, (c) inductor...
-
Let \(S\) be the sphere of radius \(R\) centered at the origin. Explain using symmetry: \[ \iint_{S} x^{2} d S=\iint_{S} y^{2} d S=\iint_{S} z^{2} d S \] Then show that \(\iint_{S} x^{2} d...
-
Peter puck company, beginning work in process , 0 units, unit transffered out 87,000. units in ending work in process 23000,which are 40% complete of conversion cost , material are added only at the...
-
Two blocks a and b connected to each other by a string. a constant upward force F = 6 0 N , is applied to block A as shown below. Starting from rest, block B descends by 7 . 8 m in 4 . 2 s . The...
-
Your clients,Bruce and Sheila,run a small business as a partnership together and they would like your advice on contributing to superannuation. Bruce earns $65,000and Sheila earns$35,000. What is the...
-
One of your MRO suppliers has approached you with solid evidence that its costs have risen, and market prices for MRO have also risen. You investigate this and find out that it is true. For safety...
-
Create a flow chart for the salary system with the following data given below. Sl. No. Name 1 2 Farhad Saikat Region Central Central Southern 72000 3 Shaguptha Shamim Southern 66000 4 5 6 7 8 Mahmuda...
-
1. Would you set aside the election results and order another election? Explain your answer. 2. How could the union have stopped individuals from the intimidating actions that allegedly went on in...
-
The overall reaction and equilibrium constant value for a hydrogenoxygen fuel cell at 298 K is 2H 2 (g) + O 2 (g) 2H 2 O(l) K = 1.28 10 83 a. Calculate E cell and G 8 at 298 K for the fuel cell...
-
What is the structure of a voucher?
-
From the given income statement and additional information of Morales Co., compute the following: a. Asset turnover for 2021 b. Inventory turnover for 2021 c. Accounts receivable turnover for 2021...
-
Complete a trend analysis from the following data of Hidalgo Corporation using 2020 as the base year. (Round to the nearest percent.) Sales Gross Profit Net Income 2023 $580,000 168,000 48,800 2022...
-
5. Imagine you run a 2 X 2 ANOVA and you find a significant main effect for one of the independent variables (Variable A), a non-significant finding for the second independent variable (Variable B),...
-
You have a 30-year Treasury of $1,000 face value with an annual coupon rate of 5%, which has 10.5 years left to maturity. The price of the bond is $1,122. What is its YTM per annum? Hint: Use the...
-
What is the role of the Federal Reserve in the United States? A ) To provide legal advice to financial institutions B ) To conduct monetary policy C ) To insure bank deposits D ) To offer consumer...
Study smarter with the SolutionInn App