Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

prepare a post closing trial balance please follow the same format as picture two when provinding answers! please and thank you Transactions and events during

prepare a post closing trial balance
please follow the same format as picture two when provinding answers! please and thank you image text in transcribed
image text in transcribed
Transactions and events during 2021 (summarized in thousands of dollars) follow: a. Borrowed $13 cash on March 1 using a short term note. b. Purchased land on March 2 for future building site; paid cash, $7. c. Issued additional shares of common stock on April 3 for $31. d. Purchased software on July 4,$12 cash e. Purchased supplies on account on October 5 for future use, \$17. f. Paid accounts payable on November 6, \$14. g. Signed a $30 service contract on November 7 to start February 1, 2022. h. Recorded revenues of $176 on December 8 , including $48 on credit and $128 collected in cash. 1. Recognized salaries and wages expense on December 9,$93 paid in cash. 1. Collected accounts recelvable on December 10,\$32. Data for adjusting journal entries as of December 31 : k. Unrecorded amortization for the year on software, $8. 1. Supplies counted on December 31, 2021, \$11. m. Depreciation for the year on the equipment, $7. n. Interest of \$2 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, \$11. p. Income tax for the year was $9. It will be paid in 2022 1. Required information o. Frepdie d pust-ciusing uia Udialice. (cnter your answers in mousanas or aoilars

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

Cost Accounting

Authors: Jawahar Lal, Seema Srivastav

6th Edition

9353168384, 978-9353168384

More Books

Students also viewed these Accounting questions

Question

How many moles of water are there in 1.000 L? How many molecules?

Answered: 1 week ago

Question

I had a problem last week; they would think I am picky or a whiner!

Answered: 1 week ago