Sundance Apartments Inc.'s unadjusted and adjusted trial balance at April 30, 2014, follow: Requirements 1. Make the
Question:
Requirements
1. Make the adjusting entries that account for the differences between the two trial balances.
2. Compute Sundance Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation.
Sundance Apartments Inc. Adjusted Trial Balance April 30, 2014 Adjusted Trial Balance Trial Balance Debit Account Title Credit Debit $ 8,300 6,800 Credit $ 8,300 Interest receivable Note receivable Supplie Prepaid insurance Building. Accumulated depreciation Accounts payable 6,300 4,100 2,400 4,100 200 700 66,400 66,400 16,000 6,900 $18,200 6,900 ges payable Unearned rental revenue Share capital Retained earnings Dividends Rental revenue Interest revenue Wages expense Insurance expense 18,000 42,700 100 18,000 42,700 3,600 3,600 9,900 10,900 1,600 2,000 1,700 2,200 Property tax expense Supplies expense Utilities expense 700 200 200 $94,100 $94,100 97,500 $97,500
Step by Step Answer:
Req 1 Journal DATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT 2014 April 30 Accounts Receivable 680...View the full answer
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Students also viewed these Accounting questions
-
Sundance Apartments Inc.'s unadjusted and adjusted trial balance at April 30, 2017, follow: Requirements 1. Make the adjusting entries that account for the differences between the two trial balances....
-
Peachtree Apartments, Inc.s unadjusted and adjusted trial balances at April 30, 2010, follow. Requirements 1. Make the adjusting entries that account for the differences between the two trial...
-
Fairview Apartments, Inc.s unadjusted and adjusted trial balances at April 30, 2010, follow: Requirements 1. Make the adjusting entries that account for the differences between the two trial...
-
A random queue is a collection that supports the following API: Write a class RandomQueue that implements this API. Use a resizing array. To remove an item, swap one at a random position (indexed 0...
-
Northeastern Pharmaceutical and Chemical Company (NEPACCO) had a manufacturing plant in Verona, Missouri, that produced various hazardous and toxic by-products. The company pumped the by-products...
-
Remaining Time: 1 hour, 54 minutes, 02 seconds. Question Completion Status 9 10 11 12 14 ng to how we Question 4 10 points Model 2: OLS, using observations 1-1212 (n = 1066) Missing or incomplete...
-
Personnel tests are designed to test a job applicant's cognitive andlor physical abilities. An IQ test is an example of the former; a speed test involving the arrangement of pegs on a peg board is an...
-
Tiny Corp. prepares monthly bank reconciliations of its checking account balance. The bank statement for October 2009 indicated the following: Balance, October 31, 2009 ................$7,920 Service...
-
The primary responsibility of an independent auditor who is a professional accountant is to: Multiple Choice Prepare or make changes to source documents Evaluate the "fair presentation of the...
-
1. Why is the millennial generation, in particular, so important to Amex? 2. This case focuses primarily on the battle between Chase and Amex over millennial consumers. But, as the content in this...
-
The unadjusted trial balance of The Rock Industries Ltd. at January 31, 2014, appears below. Adjustment data: a. Accrued service revenue at January 31, $2,000 b. Prepaid rent expired during the...
-
The adjusted trial balance of Marshall Ltd. at December 31, 2014, is given on page 158 . Requirements 1. Prepare Marshall Ltd.'s 2014 income statement, statement of retained earnings, and balance...
-
What evidence is presented in the Bringing Research to Life vignette of efforts to understand the management dilemma?
-
Below are incomplete financial statements for Hurricane, Incorporated Required: Calculate the missing amounts. Complete this question by entering your answers in the tabs below. Income Statement Stmt...
-
TBTF Incorporated purchased equipment on May 1, 2021. The company depreciates its equipment using the double-declining balance method. Other information pertaining to the equipment purchased by TBTF...
-
Coco Ltd. manufactures milk and dark chocolate blocks. Below is the information relating to each type of chocolate. Milk Chocolate Selling price per unit $6 Variable cost per unit $3 Sales mix 4 Dark...
-
Data related to 2018 operations for Constaga Products, a manufacturer of sewing machines: Sales volume 5,000 units Sales price $300.00 per unit Variable production costs Direct materials 75.00 per...
-
6. (20 points) Sections 3.1-3.5, 3.7 Differentiate the following functions, state the regions where the functions are analytic. a. cos(e*) b. 1 ez +1 c. Log (z+1) (Hint: To find where it is analytic,...
-
If the speed of sound in air is found to be 343.2 m/s, what is the temperature of that air?
-
Kims Konstructions has assembled the following data for a proposed straw-reinforced brick maker (SRBM): SRBM Cost: $26,000 Life: 5 years Revenue (p.a.) $11,000 Operating Expenses (p.a.) $3,000...
-
How would the current and quick ratios of a service business compare?
-
How would the current and quick ratios of a service business compare?
-
How would the current and quick ratios of a service business compare?
-
Discuss why it is important for company managers to understand and use social capital knowledge to help build social ties among their skilled knowledge workers so they can build employee loyalty...
-
Kate lives in a house close to a local university, and she traditionally has rented a garage apartment in the back of her property to students for $750 per month. Kate wants to transfer the title to...
-
Pottery Ranch Inc. has been manufacturing its own finials for its curtain rods. The company is currently operating at 100% of capacity, and variable manufacturing overhead is charged to production at...
Study smarter with the SolutionInn App