Black Spot Incorporated had the following balances at the beginning of September. BLACK SPOT INCORPORATED Trial...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Black Spot Incorporated had the following balances at the beginning of September. BLACK SPOT INCORPORATED Trial Balance September 1 Accounts Cash Accounts Receivable Supplies bed Land Accounts Payable Notes Payable Common Stock Retained Earnings ok Totals nt ences Debits Credits $ 6,200 2,200 7,300 10,900 $ 7,200 2,700 8,700 8,000 $ 26,600 $ 26,600 The following transactions occur in September. September 1 Provide services to customers for cash, $4,400. September 2 Purchase land with a long-term note for $6,100 from Crimson Company. September 4 Receive an invoice for $470 from the local newspaper for an advertisement that appeared on September 2. September 8 Provide services to customers on account for $5,700. September 10 Purchase supplies on account for $1,100. September 18 Receive $4,700 from customers on account. September 13 Pay $3,700 to Crimson Company for a long-term note. September 20 Pay $870 for September's rent. September 30 Pay September's utility bill of $1,850. September 30 Pay employees $3,700 for salaries for the month of September. September 30 Pay a cash dividend of $1,100 to shareholders. Requirement General Journal General Ledger Trial Balance Each journal entry is posted automatically to the general ledger. General Ledger Account Cash Accounts Receivable No. Date September 01 Debit Credit Balance No. 6,200 Date September 01 Debit Credit Balance 2,200 Supplies Land No. Date September 01 Debit Credit Balance No. 7,300 Date September 01 Debit Credit Balance 10,900 No. Date September 01 Accounts Payable Debit Credit Balance No. 7,200 Date September 01 Notes Payable Debit Credit Balance 2,700 Common Stock Retained Earnings No. Date September 01 Debit Credit Balance No. 8,700 Date September 01 Debit Credit Balance 8,000 < General Journal Trial Balance > Black Spot Incorporated had the following balances at the beginning of September. BLACK SPOT INCORPORATED Trial Balance September 1 Accounts Cash Accounts Receivable Supplies bed Land Accounts Payable Notes Payable Common Stock Retained Earnings ok Totals nt ences Debits Credits $ 6,200 2,200 7,300 10,900 $ 7,200 2,700 8,700 8,000 $ 26,600 $ 26,600 The following transactions occur in September. September 1 Provide services to customers for cash, $4,400. September 2 Purchase land with a long-term note for $6,100 from Crimson Company. September 4 Receive an invoice for $470 from the local newspaper for an advertisement that appeared on September 2. September 8 Provide services to customers on account for $5,700. September 10 Purchase supplies on account for $1,100. September 18 Receive $4,700 from customers on account. September 13 Pay $3,700 to Crimson Company for a long-term note. September 20 Pay $870 for September's rent. September 30 Pay September's utility bill of $1,850. September 30 Pay employees $3,700 for salaries for the month of September. September 30 Pay a cash dividend of $1,100 to shareholders. Requirement General Journal General Ledger Trial Balance Each journal entry is posted automatically to the general ledger. General Ledger Account Cash Accounts Receivable No. Date September 01 Debit Credit Balance No. 6,200 Date September 01 Debit Credit Balance 2,200 Supplies Land No. Date September 01 Debit Credit Balance No. 7,300 Date September 01 Debit Credit Balance 10,900 No. Date September 01 Accounts Payable Debit Credit Balance No. 7,200 Date September 01 Notes Payable Debit Credit Balance 2,700 Common Stock Retained Earnings No. Date September 01 Debit Credit Balance No. 8,700 Date September 01 Debit Credit Balance 8,000 < General Journal Trial Balance >
Expert Answer:
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
Students also viewed these accounting questions
-
Assume you have been asked to develop a master staffing plan for your Long Term Health Care facility. Your task is to develop a plan staffing plan in days for a new 1 full time and 1 part time CNA....
-
Pirates Incorporated had the following balances at the beginning of September. The following transactions occur in September. September 1 Provide services to customers for cash, $4,700. September 2...
-
Pirates Incorporated had the following balances at the beginning of September. The following transactions occur in September.September 1 Provide services to customers for cash, $4,700.September 2...
-
Viscosity variation and velocity gradients in a non isothermal film, water is falling down a vertical wall in a film 0.1 mm thick. The water temperature is 100C at the free liquid surface and 80C at...
-
A light-duty pickup truck has a manufacturer's suggested retail price (MSRP) of $14,000 on its window. After haggling with the salesperson for several days, the prospective buyer is offered the...
-
Financial analysts often debate the role of dividends \((D V)\) in the determination of share prices \((S P)\). Figure 13.9 shows plots of the rate of change in \(D V\) and \(S P\) computed as where...
-
12. ROLE REVERSAL Write a multiple choice question that deals with the liability of principals for the acts of their employees.
-
Presidio Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Presidio Manufacturing's operations: Current assets as of December 31...
-
1. Portsmouth Company makes upholstered furniture. Its onlyvariable cost is direct materials. The demand for the company'sproducts far exceeds its manufacturing capacity. The bottleneck (orconstrai 2...
-
ades Question 26 cussions 2 pts Modules Time AZ onor Code norlock udent ore Common stock: Currently, the stock is selling for $62 a share and has paid a $2.82 dividend. Dividends are expected to...
-
Can you share theorists views on transactional leadership?
-
List and explain five different theories and/or theoretical frameworks we discussed in class. Illustrate each theory with an example of your choice. Provide a reference of a study that applied each...
-
For a non-inverting Op Amp circuits shown below (R1-10K, Rf = 100K2), calculate the expected closed-loop voltage gain and the input impedance. -V2 -15 V V+ + + Vout 741 R1 V1 V3 10k OPAMP 5T VIRTUAL...
-
Point B is located across the river from point Aand at a 4 2 . 0 angle upstream from A A boat travels from point A to point B sailing at 1 7 . 0 km / h relative to the water. The current in the...
-
Fast Ltd manufactures specialised moulding machinery for both sale and lease. On 1 July 2023, Fast Ltd leased a machine to Furious Ltd. The machine being leased cost Fast Ltd $235 000 to make and its...
-
Business success is often tied to effectively managed strategies. Using the Internet, study Starbuck's current performance. Based on analysis, do you judge Starbucks to be a success? Why or why not?...
-
Draw the major product for each of the following reactions: (a) (b) (c) 1) 9-BBN 2) H2O2, NaOH 1) Disiamylborane 2) H20, NaOH
-
How can an investor benefit from an equity investment that does not pay dividends?
-
DS Unlimited has the following transactions during August. August 6 Purchases 85 hand-held game devices on account from GameGirl, Inc. for $80 each, terms 5/10, n/60. August 7 Pays $200 to Sure...
-
Suzuki Supply reports the following amounts at the end of 2015 (before adjustment). Credit Sales for 2015.................. $260,000 Accounts Receivable, December 31, 2015............. 55,000...
-
Brown, Cosden & Co., a medium-sized public accounting firm, was engaged to audit Joslin Supply Inc. Several staff were involved in the audit, all of whom had attended the firm's in-house training...
-
Jan Sharpe recently joined the public accounting firm of Spark, Watts, and Wilcox. She quickly established a repu tation for thoroughness and a steadfast dedication to follow ing prescribed auditing...
-
In confirming accounts receivable on December 31, 2001, the auditor found 15 discrepancies between the cus tomer s records and the recorded amounts in the subsidiary ledger. A copy of all...
Study smarter with the SolutionInn App