The trial balances before and after adjustment for Matusiak Company at the end of its fiscal year
Question:
Instructions
Prepare the adjusting entries that weremade.
Transcribed Image Text:
Matusiak Company Trial Balance August 31, 2014 Before Adjustment After Adjustment Dr. Cr. Dr. Cr Cash Accounts Receivable $10,400 8,800 2,300 4,000 14,000 $10,400 10,000 700 2,500 14,000 Supplies Prepaid Insurance Equipment 3,600 5,800 $ 4,900 5,800 1,100 800 12,000 3,600 35,200 11,700 Accumulated Depreciation-Equipment Accounts Payable Salarics and Wages Payable Unearned Rent Revenue Common Stock 1,500 12,000 3,600 34,000 11,000 Retained Earnings Scrvicc Kevcnlic Rent Revenue Salaries and Wages Expense Supplies Expense 18,100 1,600 15,000 1,500 1,300 17,000 Rent Expense 15,000 Insurance Expense Depreciation Expense $71,500 $71,500 $75,100 $75,100
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 91% (12 reviews)
Aug 31 Accounts Receivable 1200 Service Revenue 1200 31 Supplies Expense ...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st 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 Matusiak Company OAO at the end of its fiscal year are presented below. Instructions Prepare the adjusting entries that were made. MATUSIAK COMPANY...
-
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...
-
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...
-
In thinking about the appropriate balance between the market and the government in achieving sustainability, do you think the government needs to take a stronger role or would you favor reducing...
-
Suppose that the interest elasticity of investment demand is zero. What will be the resulting slope of the IS schedule. Explain.
-
Circular Motion Lab Position ladybug at a distance of one meter from the center and set Angular Velocity to any value between 175deg/sec to 200deg/sec. Start the simulation. Do you see a pink arrow...
-
Titan Offroad Equipment uses the LIFO inventory method and values its inventory using the lower-of-cost-or-market^LCM) rule. Titan Offroad Equipment has the following account balances at December 31,...
-
Consider the drug treatment system shown in the figure below. A hemispherical cluster of unhealthy cells is surrounded by a larger hemisphere of stagnant dead tissue (species B), which is turn...
-
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor...
-
Which federal act assists workers who are displaced through no fault of their own? Multiple Choice O O HIPAA FUTA SUTA ERISA
-
Selected accounts of Welch Company are shown on the shown below. Instructions After analyzing the accounts, journalize (a) The July transactions (b) The adjusting entries that were made on July 31....
-
The adjusted trial balance for Matusiak Company is given in E. Instructions Prepare the income and retained earnings statements for the year and the balance sheet at August31. Matusiak Company Trial...
-
Jennifer is a CPA and a single taxpayer using the standard deduction. In 2019, her CPA practice generates qualified business income of $162,200 and she has no other income or losses. Jennifers...
-
Evaluate the following statement: The demand for U.S. oranges has increased because the quantity of U.S. oranges demanded in Japan has risen.
-
Many restaurants dont take reservations. You simply arrive and wait your turn. If you arrive at 7:30 in the evening, you have at least an hour wait. Notwithstanding that fact, a few people arrive,...
-
Explain how the government can run budget deficitsthat is, spend more than it receives in tax revenue.
-
Is wavelike motion an example of conservative or diffusive motion?
-
Using the interconnection between sectors of the economy, illustrate the effects of imposing an increase in taxes on the household sector.
-
Use this information to answer the questions in Problems 18-23. a. What does the notation (ADBC) mean? b. What does the " 8 " under (ADBC) mean? In voting among four candidates, the outcomes are...
-
An annual report of The Campbell Soup Company reported on its income statement $2.4 million as equity in earnings of affiliates. Journalize the entry that Campbell would have made to record this...
-
Solve the systems in Problems \(27-38\) by the addition method. \(\left\{\begin{array}{l}3 a_{1}+4 a_{2}=-9 \\ 5 a_{1}+7 a_{2}=-14\end{array}ight.\)
-
On October 31, the stockholders equity section of Huth Company consists of common stock $300,000 and retained earnings $900,000. Huth is considering the following two courses of action: (1) Declaring...
-
On October 1, Kosko Corporations stockholders equity is as follows. Common stock, $5 par value ........$400,000 Paid in capital in excess of par value ....... 25,000 Retained earnings .................
-
During 2010, Jester Corporation had the following transactions and events. 1. Declared a cash dividend. 2. Issued par value common stock for cash at par value. 3. Completed a 2-for-1 stock split in...
-
Part 1: The Program Explain in detail: The program you identified within your specialization area(My specialization is Special Education)that is in need of evaluation. Be sure to include the purpose...
-
Should the U.S. Government play a greater role in providing an economic "safety net" for its citizens than it currently does? Alternatively, should such a greater role be the obligation of...
-
How could I Identify and describe the segmentation of the workforce in a hospital setting (drawing up our study of how to differentiate employee groups depending on their drivers, such as flexible...
Study smarter with the SolutionInn App