Accounting tarea. 4.1
TAREA 4.1- (2 EJERCICIOS) EX 2-16 Trial balance 12 puntos The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted. Accounts payable $49, 186 Notes payable $57,500 Accounts receivable 134,435 Prepaid insurance 24,840 Cash i? Rent expense 55,200 Elaine Wells, Capital 86,250 Supplies 4,916 Elaine Wells, Drawing 27,600 Supplies expense 7,193 Fees Earned 857,015 Unearned rent 13,800 Insurance Expense 4,140 Utilities expense 30,878 Land 57,500 Wages expense 667,805 Miscellaneous Expense 10,925 Prepare an unadjusted trial balance, listing the accounts in their normal order and inserting the missing figure for cash. EX 2-20 Errors in trial balance Identify the errors in the following trial balance. All accounts have normal balances. Mascot Co. Unadjusted Trial Balance For the Month Ending July 31, 2019 Account Debit Credit No. Balances Balances Cash 11 $39,600 Accounts receivables 12 $123,860 Prepaid insurance 13 19,800 Equipment 14 412,500 Accounts payable 21 58,630 Salaries payable 22 8,250 Samuel Parson, Capital 31 326,920 Samuel Parson, Drawings 32 18,700 Fees earned 41 750,200 Salary Expense 51 436,480 Advertising expense 52 80,300 Miscellaneous expense 59 12,760 $979,770 $1,308,230TAREA 4.1- (2 EJERCICIOS) EX 2-16 Trial balance 12 puntos The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted. Accounts payable $49, 186 Notes payable $57,500 Accounts receivable 134,435 Prepaid insurance 24,840 Cash i? Rent expense 55,200 Elaine Wells, Capital 86,250 Supplies 4,916 Elaine Wells, Drawing 27,600 Supplies expense 7,193 Fees Earned 857,015 Unearned rent 13,800 Insurance Expense 4,140 Utilities expense 30,878 Land 57,500 Wages expense 667,805 Miscellaneous Expense 10,925 Prepare an unadjusted trial balance, listing the accounts in their normal order and inserting the missing figure for cash. EX 2-20 Errors in trial balance Identify the errors in the following trial balance. All accounts have normal balances. Mascot Co. Unadjusted Trial Balance For the Month Ending July 31, 2019 Account Debit Credit No. Balances Balances Cash 11 $39,600 Accounts receivables 12 $123,860 Prepaid insurance 13 19,800 Equipment 14 412,500 Accounts payable 21 58,630 Salaries payable 22 8,250 Samuel Parson, Capital 31 326,920 Samuel Parson, Drawings 32 18,700 Fees earned 41 750,200 Salary Expense 51 436,480 Advertising expense 52 80,300 Miscellaneous expense 59 12,760 $979,770 $1,308,230PR 2-3A Journal entries and trial balance OBJ. 1, 2, 3,4 On June 1, 2016, Hannah Ellis established an interior decorating business, Whitworth Designs. During the month, Hannah completed the following transactions related to the business: June 1. Hannah transferred cash from a personal bank account to an account to be used for the business, $48,000. 1. Paid rent for period of June 1 to end of month, $6.510. 6. Purchased office equipment on account, $19,340. 8. Purchased a van for $39,100 paying $6,200 cash and giving a note payable for the remainder. 10. Purchased supplies for cash, $3,260. 12. Received cash for job completed, $16,730. 15. Paid annual premiums on property and casualty insurance, $4,940. 23. Recorded jobs completed on account and sent invoices to customers, $16,320. 24. Received an invoice for van expenses, to be paid in July, $2,060. (Continued)Chapter 2 Analyzing Transactions Enter the following transactions on Page 2 of the two-column journal: June 29. Paid utilities expense, $4,250. 29. Paid miscellaneous expenses, $1,300. 30. Received cash from customers on account, $10,050. 30. Paid wages of employees, $6,950. 30. Paid creditor a portion of the amount owed for equipment purchased on June 6, $9,360. 30. Withdrew cash for personal use, $2,200. Instructions 1. Journalize each transaction in a two-column journal beginning on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) Explanations may be omitted. 11 Cash 31 Hannah Ellis, Capital 12 Accounts Receivable 32 Hannah Ellis, Drawing 13 Supplies 41 Fees Earned 14 Prepaid Insurance 51 Wages Expense 16 Equipment 53 Rent Expense 18 Van 54 Utilities Expense 21 Notes Payable 55 Van Expense 22 Accounts Payable 59 Miscellaneous Expense 2. Post the journal to a ledger of four-column accounts, inserting appropriate posting references as each item is posted. Extend the balances to the appropriate balance col- umns after each transaction is posted. 3. Prepare an unadjusted trial balance for Whitworth Designs as of June 30, 2076. 4. Determine the excess of revenues over expenses for June. 5. Can you think of any reason why the amount determined in (4) might not be the net income for June
