Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Chapter 4 Homework Problems -REQD See & E Su 21 MP3 Chay Required information [The following information applies to the questions displayed below Alison and

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Chapter 4 Homework Problems -REQD See & E Su 21 MP3 Chay Required information [The following information applies to the questions displayed below Alison and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture, Incorporated on January 2020. The annual reporting period ends December 31 The trial balance on January 2021 follows amounts founded to thousands of dollars to simplify Part of 434 point . ten 13 Aceivable Supp et Alated Depreciation Software hemolated Artist At Payable Notes Payabia - Salsa Payabile Internet ble Income Tax rayole Defender Como tad arsi tervista ... = = Deprecatione Sales and was we tation Expense teret BE Total E Transactions during 2021 marzed in thousands of BAP Total $.29 $29 Transactions during 2021 (summarized in thousands of dollars) follow of 9 arred a. Borrowed $21 cash on July 1 2021, signing a sbc-month note payable. b. Purchased equipment for $18 cash on July 2. c. Issued additional shares of common stock on July 3 for $5. d. Purchased additional equipment on August 4, $3 cash e. Purchased, on account, supplies on September 5 for future use. $10. On December 6, recorded revenues in the amount of $65, including $9 on credit and $56 received in cash g. Paid salaries and wages expenses on December 7, 535 h. Collected accounts receivable on December 8. $8, I Paid accounts payable on December 9, 511 J. Received a $3 deposit on December 10 for work to start January 15, 2022 OM Dato for adjusting journal entries on December 31 k. Amortization for 2021, $3 Supplies of $4 were counted on December 31, 2021. m. Depreciation for 2021, S2 n. Accrued interest on notes payable or $1. Salaries and wages earned but not yet paid, 53 income tax for 2021 was $4 and will be paid in 2022 Check my word 21 8. Prepare a post-closing trial balance (Enter your answers in thousands of dollars.) Part of LAZY SOFA FURNITURE, INCORPORATED Poul Closing Trial 4 34 DS Debit Cre in thousands Account Titles Cash Accounts Receivable Supplies Equipment Albumid Depreciation Software Accued Amortion Accounts Payable Tictes Payshonom Sind Wayne ww Del Rem Conveni E. Help Save & alt Submit 21 Check my work Required information Panto 4.34 porn Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries and Wages Expenses Supplies Expenses Depreciation Expert Amortion Expo Become Tax DOO 5 OS Chapter 4 Homework Problems -REQD See & E Su 21 MP3 Chay Required information [The following information applies to the questions displayed below Alison and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture, Incorporated on January 2020. The annual reporting period ends December 31 The trial balance on January 2021 follows amounts founded to thousands of dollars to simplify Part of 434 point . ten 13 Aceivable Supp et Alated Depreciation Software hemolated Artist At Payable Notes Payabia - Salsa Payabile Internet ble Income Tax rayole Defender Como tad arsi tervista ... = = Deprecatione Sales and was we tation Expense teret BE Total E Transactions during 2021 marzed in thousands of BAP Total $.29 $29 Transactions during 2021 (summarized in thousands of dollars) follow of 9 arred a. Borrowed $21 cash on July 1 2021, signing a sbc-month note payable. b. Purchased equipment for $18 cash on July 2. c. Issued additional shares of common stock on July 3 for $5. d. Purchased additional equipment on August 4, $3 cash e. Purchased, on account, supplies on September 5 for future use. $10. On December 6, recorded revenues in the amount of $65, including $9 on credit and $56 received in cash g. Paid salaries and wages expenses on December 7, 535 h. Collected accounts receivable on December 8. $8, I Paid accounts payable on December 9, 511 J. Received a $3 deposit on December 10 for work to start January 15, 2022 OM Dato for adjusting journal entries on December 31 k. Amortization for 2021, $3 Supplies of $4 were counted on December 31, 2021. m. Depreciation for 2021, S2 n. Accrued interest on notes payable or $1. Salaries and wages earned but not yet paid, 53 income tax for 2021 was $4 and will be paid in 2022 Check my word 21 8. Prepare a post-closing trial balance (Enter your answers in thousands of dollars.) Part of LAZY SOFA FURNITURE, INCORPORATED Poul Closing Trial 4 34 DS Debit Cre in thousands Account Titles Cash Accounts Receivable Supplies Equipment Albumid Depreciation Software Accued Amortion Accounts Payable Tictes Payshonom Sind Wayne ww Del Rem Conveni E. Help Save & alt Submit 21 Check my work Required information Panto 4.34 porn Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries and Wages Expenses Supplies Expenses Depreciation Expert Amortion Expo Become Tax DOO 5 OS

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Water Audits And Loss Control Programs

Authors: American Water Works Association

4th Edition

1625761007, 978-1625761002

More Books

Students also viewed these Accounting questions

Question

What is the relationship between humans and nature?

Answered: 1 week ago