Workfit posted transactions (a through f ) in the following T-accounts in December, its first month of
Question:
Workfit posted transactions (a through f ) in the following T-accounts in December, its first month of operations. Prepare the six journal entries from which the postings were made.
Use the T-accounts in Exercise 2-19 from Workfit’s first month of operations to prepare its December 31 trial balance.
Cash Supplies Accounts Payable a. 6,000 с. 5,000 f. 1,000 b. 2,000 d. 1,500 b. 2,000 d. 1,500 e. 3,000 f. 1,000 Common Stock Services Revenue Rent Expense a. 6,000 с. 5,000 е. 3,000
Step by Step Answer:
ANSWER Journal Entries Entry Debit Credit 1 Cash a 6000 Common St...View the full answer
Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
Students also viewed these Business questions
-
The series of seven transactions recorded in the following T accounts were related to a sale to a customer on account and the receipt of the amount owed. Briefly describe eachtransaction. Cash Notes...
-
The series of seven transactions recorded in the following T accounts were related to a sale to a customer on account and the receipt of the amount owed. Briefly describe eachtransaction. CASH NOTES...
-
The following T accounts illustrate the product cost flows for Design it Yourself Co. Use the T accounts to answer the following questions (beginning balances are indicated with "Bal"). Purchases of...
-
To complete the pipings in the newly constructed power plant, 60 men must work for 72 days. If all 60 men are employed at the start but the number working is decreased by 5 men at the end of each...
-
Give the molecular formula of an alkane with 30 carbon atoms.
-
What disclosures are required for the reportable segments and all remaining segments in the aggregate?
-
Are there customers an organization might not want? Explain.
-
Items from the 2013 income statement, statement of retained earnings, and balance sheet of Electronic Arts, Inc., are listed below in alphabetical order. Solve for the missing amounts, and explain...
-
You plan to retire in 20 years. Use Excel to calculate whether it is better for you to save $25,000 a year for the last 10 years before retirement or $16,400 for each of the 20 years. Assume you are...
-
itachi Consulting Corporation is an interna- Hitional management technology consulting legacy HR system needed to be replaced. One top tional management and technology consulting priority was to...
-
In a recent years financial statements, Home Depot reported the following: Total liabilities = $38,633 million and Total assets = $42,966 million. (a) Compute Home Depots debt ratio. (b) Assuming...
-
Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the companys records show the following selected accounts and amounts for the month of...
-
At the beginning of the year, Ortiz Company had total assets of $900,000 and total liabilities of $440,000. Answer the following questions. a. If total assets decreased $100,000 during the year and...
-
The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing education in business analytics. One of...
-
For a data set of the pulse rates for a sample of adult females, the lowest pulse rate is 38 beats per minute, the mean of the listed pulse rates is x = 78.0 beats per minute, and their standard...
-
A student earned grades of A, C, B, A, and D. Those courses had these corresponding numbers of credit hours: 5, 3, 4, 3, and 2. The grading system assigns quality points to letter grades as follows:...
-
Ch 3: Forecasting: Tracking Signals, Mad, Exponential Smoothing, Control Charts Media Consultants (10 Pts). Media Consultants uses proven techniques to measure forecast accuracy and to determine when...
-
Question 2 What is the energy (in joules) of the photon absorbed by a hydrogen atom to cause a ground-state electron to move to the n = 3 energy level? Record your answer in scientific notation to 3...
-
The mean of a normal probability distribution is 350; the standard deviation is 75. a. 1 of the observations lie between what two values? b. 2 of the observations lie between what two values? c. ...
-
Use critical values to test the null hypothesis H0: 1 2 = 20 versus the alternative hypothesis H0: 1 2 20 by setting a equal to .10, .05, .01, and .001. How much evidence is there that the...
-
Why does the use of the accelerated depreciation method (instead of straight line) for income tax reporting increase an investments value?
-
Why does the use of the accelerated depreciation method (instead of straight line) for income tax reporting increase an investments value?
-
The management of Best Buy is planning to invest in a new companywide computerized inventory tracking system. What makes this potential investment risky?
-
Given that rJ = 6.3%, rRF = 4.1%, and rM = 9.4%, determine the beta coefficient for Stock J that is consistent with equilibrium.
-
Simon Companys year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 33,019 $ 37,839 $ 38,623 Accounts receivable, net 93,822 65,556 54,152 Merchandise inventory 117,963 89,253...
-
PLEASE REFER TO THE 2018 ANNUAL REPORT OF STARBUKS FOR THE YEAR FISCAL YR 2018, ENDING SEPTEMBER 30, 2018. Refer to the management discussion & analysis section and write a one page summary...
Study smarter with the SolutionInn App