The trial balances before and after adjustment for Matthews Company at the end of its fiscal year
Question:
The trial balances before and after adjustment for Matthews Company at the end of its fiscal year are presented on the next page.
InstructionsPrepare the adjusting entries that weremade.
Transcribed Image Text:
MATTHEWS COMPANY Trial Balance August 31, 2012 Before After Adjustment Adjustment Dr. Dr. Cr. Cr. Cash $10,400 $10.400 10,800 Accounts Receivable 8,800 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable 2.300 900 4,000 2.500 14,000 14,000 $ 3,600 $ 4.500 5,800 5.800 -0- 1.100 Unearned Rent Revenue 1.500 600 Owner's Capital 15,600 15,600 Service Revenue 34,000 36.000 Rent Revenue 11.000 11,900 Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense 17,000 18,100 -0- 1.400 15,000 15,000 1,500 900 $71.500 $75.500 $71.500 $75,500
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (16 reviews)
Aug 31 31 31 Accounts Receivable Service Revenue Supplies Expens...View the full answer
Answered By
Emel Khan
I have the ability to effectively communicate and demonstrate concepts to students. Through my practical application of the subject required, I am able to provide real-world examples and clarify complex ideas. This helps students to better understand and retain the information, leading to improved performance and confidence in their abilities. Additionally, my hands-on approach allows for interactive lessons and personalized instruction, catering to the individual needs and learning styles of each student.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
The trial balances before and after adjustment for Turnquist Company at the end of its fiscal year are presented below. Instructions Prepare the adjusting entries that weremade. TURNQUIST COMPANY...
-
The trial balances before and after adjustment for Matusiak Company at the end of its fiscal year are presented below. Instructions Prepare the adjusting entries that weremade. Matusiak Company Trial...
-
The trial balances before and after adjustment for Matusiak OAO at the end of its fiscal year are presented below. Instructions Prepare the adjusting entries that were made. Matusiak OAO Trial...
-
Show that the rectangular box (including the top and bottom) with fixed volume V = 27 m 3 and smallest possible surface area is a cube (Figure 25). X y Z
-
Describe some of the informal rules of the game that govern what type of individual an MNE can appoint to be the head of a foreign subsidiary.
-
An industry representative claims that 50 percent of all satellite dish owners subscribe to at least one premium movie channel. In an attempt to justify this claim, the representative will poll a...
-
Budgeted June sales of the Tack Shop include 100 western saddles at \($650\) each. Actual sales were 90 saddles at \($725\) each. The June sales price and sales volume variances for western saddles...
-
Banks earn money by borrowing from depositors at low interest rates and lending to individuals and businesses at high interest rates. As banks grow, they split into functional divisions that either...
-
Two Brothers Moving prepared the following sales budget: Month March April May June Cash Sales Credit Sales $21,000 $12,000 $33,000 $13,000 $39,000 $43,000 $59,000 $50,000 Credit collections are 40%...
-
A vessel is filled with gas at some equilibrium pressure and temperature. Can all gas molecules in the vessel have the same speed?
-
Selected accounts of Tabor Company are shown below. InstructionsAfter analyzing the accounts, journalize (a) The July transactions and (b) The adjusting entries that were made on July31. Supplies...
-
The adjusted trial balance for Matthews Company is given in E3-13. Instructions Prepare the income and owners equity statements for the year and the balance sheet at August 31.
-
The op-amp bias currents for the circuit in Figure P14.38 are equal at \(I_{B 1}=\) \(I_{B 2}=1 \mu \mathrm{A}\). (a) Find the worst-case output voltages \(v_{O 1}\) and \(v_{O 2}\) for \(v_{I}=0\)....
-
Cabell Products is a division of a major corporation. Last year the division had total sales of $ 2 5 , 3 2 0 , 0 0 0 , net operating income of $ 1 , 9 2 4 , 3 2 0 , and average operating assets of $...
-
what are common uses for pivot tables in excel for the container logistics industry? Explain
-
What is at least 3 challenges leaders must face in emergency management. How can these challenges be overcome. Suggested areas to evaluate could include personnel, training, technology, funding, etc
-
(a) Explain the significance of carbon equivalent and chromium equivalent with regard to welding processes. (b) How to control sensitization in welding of stainless steel by controlling carbon and...
-
An L = 46.6 m ship is cruising in the ocean at a speed of 14 m/s. What is the Froude number? Express your answer to three significant figures.
-
Select the best answer for each of the following and explain fully the reason for your selection: a. A material departure from generally accepted accounting principles will result in auditor...
-
The following cost information was provided to you for analysis: September 12,000 Units Produced Costs: TIC TAC TOE TING August 10,000 P80,000 70.000 60.000 50,000 How much is the fixed cost per...
-
U.S. forestland has been a constant 755 million acres for the past century, but the number of trees has increased by 20 percent since 1970, the volume of wood has doubled since 1953, and the United...
-
The ledger of Dey Company includes the following accounts. Explain why each account may require adjustment. (a) Prepaid Insurance (c) Unearned Revenue (b) Depreciation Expense (d) Interest Payable
-
Nunez Company accumulates the following adjustment data at December 31. Indicate (a) The type of adjustment (prepaid expense, accrued revenues and so on), and (b) The status of accounts before...
-
Windsor Advertising Companys trial balance at December 31 shows Advertising Supplies $6,700 and Advertising Supplies Expense $0. On December 31, there are $2,700 of supplies on hand. Prepare the...
-
Problem 2: Game Theory. Havard Lorentzen and Cha Min-Kyu race as professional speed skaters. They each decide whether or not to skate Dangerously (D) or Safely (S). They decide simultaneously at the...
-
Whispering Winds and Associates is a medium-sized company located near a large metropolitan area in the Midwest. The company manufactures cabinets of mahogany, oak, and other fine woods for use in...
-
Which of the following is not a component of the master budget? O Capital expenditures budget Selling and administrative expense budget Cash budget Ending inventory and cost of goods sold budget
Study smarter with the SolutionInn App