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need help with these 7 questions plz asap for accounting Trial Balance Rocky Mountain Tours Co. is a travel agency. The nine transactions recorded by
need help with these 7 questions plz asap for accounting
Trial Balance Rocky Mountain Tours Co. is a travel agency. The nine transactions recorded by Rocky Mountain Tours during June 20Y2, its first month of operations, are indicated in the following T accounts: a. Prepare an unadjusted trial balance. List all the accounts in the order of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses. Place the amounts in the proper columns. If an entry is not required in an amount box, leave it blank. a. Accounts with debit balances should be placed in the Debit column and those with credit balances are placed in the Credit column. When finished, the column totals must be equal. b. Based upon the unadjusted trial balance, determine the net income or net loss. $ Trial Balance The accounts in the ledger of Seaside Furniture Company as of August 20 . 5 are listed in alphabetical order as follows. All accounts have normal balances. The balance of the cash account has been intentionally omitted. Prepare an unadjusted trial balance. List all the accounts in the order of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses. Place the amounts in the proper columns. If an entry is not required in an amount box, leave it blank. Errors in Trial Balance The following preliminary unadjusted trial baiance of Ranger CO, a sports ticket agency, does not balance: When the ledger and other records are reviewed, you discover the following: (1) the debits and credits in the cash account total $53,190 and $38,190, respectively; (2) a billing of $2,820 to a customer on account was not posted to the accounts receivable account; (3) a payment of $2,020 made to a creditor on account was not posted to the accounts payable account; (4) the balance of the unearned rent account is $5,700; (5) the correct balance of the equipment account is $84,000; and (6) each account has a normal balance. Prepare a corrected unadjusted trial balance. For those boxes in which no entry is required, leave the box blank: Effect of Errors on Trial Balance The following errors occurred in posting from a two-column journal: 1. A credit of $6,030 to Accounts Payable was not posted. 2. An entry debiting Accounts Receivable and crediting Fees Earned for $16,800 was not posted. 3. A debit of $600 to Accounts Payable was posted as a credit. 4. A debit of $1,390 to Supplies was posted twice. 5. A debit of $950 to Cash was posted to Miscellaneous Expense. 6. A credit of $270 to Cash was posted as $720. 7. A debit of $5,820 to Wages Expense was posted as $5,280. Considering each case individually (i.e., assuming that no other errors had occurred): (a) Indicate by "yes" or "no" whether the trial balance would be out of balance. (b) If the answer to (a) is "yes", indicate the amount by which the trial balance totals would differ. (c) Indicate whether the debit or credit column of the trial balance would have the larger total. If "no", enter "0" in the difference column and select "neither" from the drop box under "Larger Total". Enter all amounts as positive numbers. Answers should be presented in the following form, with error (1) given as an example: Errors in Trial Balance Identify the errors in the following trial balance. All accounts have normal balances. After identifying the errors, prepare a corrected unadjusted trial balance. For those boxes in which no entry is required, leave the box blank. Entries to Correct Errors The following errors took place in journalizing and posting transactions: a. Insurance of $23,500 paid for the current year was recorded as a debit to Insurance Expense and a credit to Prepaid Insurance. b. Dividends of $13,000 were recorded as a debit to Wages Expense and a credit to Cash. Journalize the entries to correct the errors. If an amount box does not require an entry, leave it blank. Feedback * Check My Work First, determine the debit(s) and credit(s) that should have been recorded. Then make one entry to correct the error, Analyze Amazon.com Amazon.com, Inc. (AMZN) is the largest Internet retailer in the United States. Amazon's income statements for two recent years follow: Amazon.com, Inc. Required: a. Prepare a horizontal analysis of the income statements. Round percentages to one decimal place Step by Step Solution
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