The accounts in the ledger of Dive Co. as of July 31, 2012, are listed in alphabetical
Question:
The accounts in the ledger of Dive Co. as of July 31, 2012, are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted.
Prepare an unadjusted trial balances, listing the accounts in their normal order and inserting the missing figure forcash.
Transcribed Image Text:
$ 28.000 40,000 Notes Payable Prepald Insutance flent Expense Retained Earnings Supplies Supplies Expense Unearned Rent Utilties Expenie Wages Expense $ 50,000 6,400 36,000 29,000 4,000 9,000 Accounts Payable Accounts Recevable Capital Stock Cash 20,000 Dividends 25.000 Fees Earned Insurance Expense Land Miscellaneous Expense as0.000 6.000 13.500 18,000 125,000 12.000 195,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
DIVA CO Unadjusted Trial Balance July 31 2012 Debit Credit Balances Balances Cash 15000 Accounts Rec...View the full answer
Answered By
Mahesh G
I have more than 7 years of experience in teaching physics, mathematics and python programming to more than 600 students including both online and offline tutoring.
I follow the following 7 step fundamental approach towards tutoring.
1. Curiosity, scope, enlightenment of the topic in hand.
2. Problem Definitions and elaboration.
3. Requisite mathematics, analytical abilities and quantitative
aptitude.
4. Preparing Algorithms for problem statement.
5. Concepts with analogies and building algorithm.
6. Introspection and improvising.
7. Daily class wise Cheat sheets(its not cheating) for consolidation.
5.00+
1+ Reviews
10+ 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 Cost Accounting questions
-
The accounts in the ledger of Roshek Delivery Service contain the following balances on July 31, 2012. Instructions(a) Prepare a trial balance with the accounts arranged as illustrated in the...
-
The accounts in the ledger of Sanford Delivery Service contain the following balances on July 31, 2010. InstructionsPrepare a trial balance with the accounts arranged as illustrated in the chapter...
-
The accounts in the ledger of Overnite Delivery Service contain the following balances on July 31, 2017. Instructions Prepare a trial balance with the accounts arranged as illustrated in the chapter...
-
According to a survey study conducted by Rossi (2013), the exchange rate predictability depends on: 1 sample period and model 2 the choice of predictor 3 forecast horizon and evaluation method 4 all...
-
The bank portion of the bank reconciliation for Katsaris Company at August 31, 2017, was as follows: The unadjusted cash balance per books on September 30, 2017, was $10,228. The September bank...
-
(a) Determine the room temperature heat capacities at constant pressure for the following materials: aluminum, silver, tungsten, and 70Cu-30Zn brass. (b) How do these values compare with one another?...
-
In a study to determine the relationship between ambient outdoor temperature and the rate of evaporation of water from soil, measurements of average daytime temperature in C and evaporation in...
-
Traditionally, Granite Company has accepted a proposal only if the payback period is less than 50percent of the assets useful life. Peggy Casteel is the new accounting manager. She suggested to...
-
Romero issues $3,400,000 of 10%, 10-year bonds dated January 1, 2020, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,010,000. Required 1. Prepare the...
-
Rowntown Cab Company has 70 drivers that it must schedule in three 8-hour shifts. However, the demand for cabs in the metropolitan area varies dramatically according to the time of day. The slowest...
-
Based upon the data presented in Exercise 2-13, (a) Prepare an unadjusted trial balance, listing the accounts in their proper order. (b) Based upon the unadjusted trial balance, determine the net...
-
Indicate which of the following errors, each considered individually, would cause the trial balance totals to be unequal: a. A fee of $15,000 earned and due from a client was not debited to Accounts...
-
Examine the financial statements for Amazon and Best Buy Co. Inc. What observations can you make about the two businesses? Which one is stronger financially and why? Which ones business model appears...
-
Cumberland County Senior Services is a non-profit organization devoted to providing essential services to seniors who live in their own homes within the Cumberland County area. Three services are...
-
Splish Company has accounts receivable of $163,400 at March 31. An analysis of the accounts shows the following. Month of Sale Balance, March 31 March $99,200 February 35,280 January 18,200 Prior to...
-
A sole trader produced 4,000 units in the first three months of the year. The costs were as follows: Total fixed costs 184,000 Total semi-variable costs were found to be 50% of relevant fixed costs...
-
At the beginning of the current fiscal year, the balance sheet of Hughey Incorporated showed stockholders' equity of $ 3 5 0 , 0 0 0 . During the year, liabilities increased by $ 1 7 , 0 0 0 to $ 1 6...
-
Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for...
-
In the toy water-rocket of Problem 64, the pressurized air can store internal energy. Assume you have a rocket that expels water at a speed of \(15.0 \mathrm{~m} / \mathrm{s}\) and the opening...
-
What are current assets and current liabilities? How are they different from non-current assets and non-current liabilities?
-
Discuss the advantages and disadvantages of VaR as risk measure.
-
Be You Apparel Inc. is considering two investment projects. The estimated net cash flows from each project are as follows: Each project requires an investment of $480,000. A rate of 15% has been...
-
Atlantic Coast Railroad Company wishes to evaluate three capital investment proposals by using the net present value method. Relevant data related to the proposals are summarized as follows:...
-
The management of Mid South Utilities Inc. is considering two capital investment projects. The estimated net cash flows from each project are as follows: The generating unit requires an investment of...
-
Monitoring of Receivables The Russ Fogler Company, a small manufacturer of cordless telephones, began operations on January 1. Its credit sales for the first 6 months of operations were as follows:...
-
Current Attempt in Progress On May 1, 2022. Sunland Corp. issued $850,000. 9%, 5-year bonds at face value. The bonds were dated May 1, 2022, and pay interest annually on May 1. Financial statements...
-
Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to five separate activity pools. The...
Study smarter with the SolutionInn App