The following is the adjusted trial balance of Lending Hand, Inc., for December 31, 2012. Requirement 1.
Question:
Requirement
1. Journalize the closing entries at December 31, 2012.
Transcribed Image Text:
Lending Hand, Inc. Adjusted Trial Balance December 31, 2012 ACCOUNT DEBIT CREDIT S 5,400 15,000 400 6,500 Cash Accounts Receivable Supplies Furniture Accumulated Depreciation, Furniture Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Eamings Dividends Service Revenue Salaries Expense Rent Expense Depreciation Expense, Equipment Depreciation Expense, Furniture Supplies Expense Total 3,180 39,000 3,000 1,100 1,200 2,200 21,000 40,170 17,000 66,000 45.000 6,000 2,600 600 $137,850
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
Journal DATE ACCOUNTS POST REF Dr Cr Dec 31 Service revenue 66000 Ret...View the full answer
Answered By
Milan Mondal
I am milan mondal have done my Msc in physics (special astrophysics and relativity) from the University of burdwan and Bed in physical science from the same University.
From 2018 I am working as pgt physics teacher in kendriya vidyalaya no2 kharagpur ,west bengal. And also I am doing advanced physics expert in chegg.com .also I teach Bsc physics .
I love to teach physics and acience.
If you give me a chance I will give my best to you.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Question Posted:
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
-
The following is the adjusted trial balance of Healthy Way, Inc., for January 31, 2012. Requirement 1. Journalize the closing entries at January31. Healthy Way, Inc. Adjusted Trial Balance January...
-
The following is the adjusted trial balance of Qwik Care Clinic, Inc. for December 31, 2013. Requirement Journalize the closing entries at December 31. Qwik Care Clinic, Inc Adjusted Trial Balance...
-
The following is the adjusted trial balance of Happy Health, Inc. for August 31, 2013. Requirement Journalize the closing entries at August 31. Happy Health, Inc Adjusted Trial Balance August 31,...
-
Listed below are selected items from the cost-of-quality (COQ) report for Watson Products for last month. Category Amount Rework ........... $ 725 Equipment maintenance ...... 1,154 Product testing...
-
Consider again the differential equation in the previous problem, with v(0) = -70. a. Use Euler's method to estimate the voltage after 1 ms, and again 1 ms after that. b. Estimate the voltage after 2...
-
How fast is this spacecraft moving? A. \(53 \mathrm{~m} / \mathrm{s}\) B. \(75 \mathrm{~m} / \mathrm{s}\) C. \(1700 \mathrm{~m} / \mathrm{s}\) D. \(2400 \mathrm{~m} / \mathrm{s}\)
-
What is the meaning of each of the following terms: corporation, articles of incorporation, corporate charter, board of directors, corporate officers, and organization costs?
-
Using the information provided in Exercise 2. Calculate Majikstan Enterprises net monetary gain or loss in local currency for 2011 based on the following general price-level information. 12/31/10...
-
Rotomola Inc. sells 50 tablet devices for 200 each (total: 10,000). Customers can return undamaged devices within 30 days for a full cash refund. The cost of each device is 150. Based on its...
-
Ogonquit Enterprises prepares annual financial statements and adjusts its accounts only at the end of the year. The following information is available for the year ended December 31, 2010: a....
-
The following post-closing trial balance was prepared for Sitting Pretty Portraits, Inc. Prepare a corrected post-closing trial balance. Assume all accounts have normal balances and the amounts...
-
Suppose you started up your own landscaping business. A customer paid you $170 in advance to mow his or her lawn while he or she was on vacation. You performed landscaping services for a local...
-
Solve the given inequalities. Graph each solution. |6.5-2 > 2.3
-
Explain scanning the internal and external environment of the organization.
-
4 . Using the Austin s ideas of infelicities, ( 1 . ) describe a scenario in which you have recognized a performative utterance and then ( 2 . ) give specific ( made - up ) examples of each of Austin...
-
1. From what you know about Edward Snowden, do you think his actions were ethical? Should he have blown the whistle? Explain. https://youtu.be/QlSAiI3xMh4 https://youtu.be/5yB3n9fu-rM
-
Discuss the external environment scanning process, including the different types of information gathered during the scanning process and the importance of this information for strategic management.
-
Frasier Firs makes artificial Christmas Trees. The budgeted sales are $322900, budgeted variable costs are $90300, and budgeted fixed costs are $135500.What is the breakeven point in sales dollars?
-
Let \(\mathbf{F}(x, y, z)=\left\langle x^{-1} z, y^{-1} z, \ln (x y)ightangle\). (a) Verify that \(\mathbf{F}=abla f\), where \(f(x, y, z)=z \ln (x y)\). (b) Evaluate \(\int_{C} \mathbf{F} \cdot d...
-
Assume that your audit team has established the following parameters for the examination of ELM's sales transactions: LO G-3 Risk of incorrect acceptance...
-
Many MNCs choose divergent labor practices, rather than convergent, and adapt their HR policies to local conditions. Find examples of companies that have been accused of running sweatshops and...
-
Assume that Pembrook Industries, Inc., has the following data: Net income for 2016 ................................... $ 104,000 Total stockholders equity. 12/31/2016 .............. $ 935.000 Total...
-
Tresko Systems completed the following stock issuance transactions: Sep 19 Issued 1,800 shares of Si par common stock for cash of $11.50 per share. Oct 3 Sold 260 shares of S4.50 no-par preferred...
-
The charter for Zealax, Inc., authorizes the company to issue 250,000 shares of $3, no-par preferred stock and 950,000 shares of common stock with $8 par value. During its start-up phase, Zealax,...
-
Show all your work. Indicate clearly the methods you use, because you will be scored on the correctness of your methods as well as on the accuracy and completeness of your results and explanations. A...
-
I was having trouble figuring out some of these problems. Question #1 and #2, I am trying to figure out the caculations for these two. All the info is provided below. Questions 1.We would like an...
-
Title:AlgIIStats-U9-Test-Std26-9 Mrs. Gonzales placed the names of all her students in a hat and pulled five names without looking. This is a ____. a cluster sample b convenience sample c simple...
Study smarter with the SolutionInn App