Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 4-(Part Level Submission) Below lan ashabetical list of the adjusted accounts of Banhoe Tour Commy at its ve end. December 31, 2017. Al secours

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Problem 4-(Part Level Submission) Below lan ashabetical list of the adjusted accounts of Banhoe Tour Commy at its ve end. December 31, 2017. Al secours de normal balance Accounts payable $7.380 interest receivable 5100 Accounts receivable 3,580 Interest revenue 1100 Accumulated depreciation-comunt 15,000 Notes payable 40,000 Cash 4.500 18.430 Depreciation expense 10,000 Puterte Evimet 50,000 Prepaid insurance 2.000 Ivanhoecoital 27.320 Service revenue 65.000 Ivanhoe drawings 33,000 short-term investments 2.700 Insurance expense 1,500 Supplies 2.100 Intereste 2,040 Suppliesen 2.400 Interest payable 740 Uncanned revenue Additional information 1. In 2016, 54,000 of the notes able becomes due 2. The not receivables del 2019 3. On y 18, 2017. Fred vanho invested 4.000 cash in the business Prepare doing journal entries and calculate the post-coding balance in the Capital on December 31, 2017. (Credit can les are automatically indented when the amount is entered. Do not inden mally. If entry is required. Select Entry for the accounts and enter for the amounts) Det Credin Date Account Titles and Explanation Dec. 21 To deserve) Dec 31 (Todose pense accounts Dec 31 (Todose income summari Dec. 31 (To close drawings account F. Ivanhoe, Capital Below is an alphabetical list of the adjusted accounts of Cullumber Tour Company at its year end, December 31, 2021. All accounts have normal balances. Accounts payable $7,310 Interest receivable $100 Accounts receivable 3,510 1,100 Accumulated depreciation-equipment 15,000 40,000 Cash 4,500 18,450 Depreciation expense 10,000 15,070 Equipment 50.000 2.900 Interest revenue Notes payable Notes receivable Patents Prepaid insurance Service revenue Short-term investments Supplies Supplies expense Unearned revenue F. Cullumber, capital 17.370 65,050 33,000 F Cullumber, drawings 2.700 1,500 3.100 Insurance expense 2,840 2.400 Interest expense 3,500 740 Interest payable Additional information: Additional information: 1 2. In 2022. $ 3.000 of the notes payable becomes due. The note receivable is due in 2023. On July 18, 2021, Fred Cullumber invested $3,200 cash in the business. 3. Prepare closing journal entries and calculate the post-closing balance in F. Cullumber, Capital on December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) F. Cullumber, Capital Dec 31, 2020 14370 Clos 14370 33000 Dec 31, 2020 49410 Dec 31, 2020 Clos. 16410 Dec 31, 2021 30780

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

Advanced Financial Accounting

Authors: Richard Lewis, David Pendrill

5th Edition

0273622919, 978-0273622918

More Books

Students also viewed these Accounting questions

Question

What courses does he/she teach?

Answered: 1 week ago

Question

Determine miller indices of plane A Z a/2 X a/2 a/2 Y

Answered: 1 week ago