The unadjusted and adjusted trial balances for Tomahawk Services Co. on July 31, 2008, are shown below.
Question:
Journalize the five entries that adjusted the accounts at July 31, 2008. None of the accounts were affected by more than one adjustingentry.
Transcribed Image Text:
Tomahawk Services Co Trial Balance July 31, 2008 Unadjusted Adjusted Debit Credit Debit Credit BalancesBaces ances Balaces 48 126 48 114 36 60 78 120 Accounts Receivable 36 120 Accumulated Depreciation-Equipment. 24 78 0 276 39 78 276 234 Wages Payable ._ . .. 24 24 Fees Earned .. .. Wages Expense Rent Expense_. 72 24 75 24 _ . . . . 12 15 Depreciation Expense 12 630 600 630
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
1 Accounts Receivable 12 Fees Earned 12 2 Suppli...View the full answer
Answered By
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Question Posted:
Students also viewed these Accounting questions
-
The unadjusted and adjusted trial balances for McWay Services Co. on August 31, 2012, are shown below. Journalize the five entries that adjusted the accounts at August 31, 2012. None of the accounts...
-
The unadjusted and adjusted trial balances for Glockenspiel Services Co. on March 31, 2010, are shown below.. Journalize the five entries that adjusted the accounts at March 31, 2010. None of the...
-
The unadjusted and adjusted trial balances for American Leaf Company on October 31, 2019, follow: Journalize the five entries that adjusted the accounts at October 31, 2019. None of the accounts were...
-
Is a flat-rate or flat-fee system more efficient for pricing scarce water? Why?
-
During 2013, Boge Corporation signed a non-cancelable contract to purchase 10,000 bushels of soybeans at $5 per bushel with delivery to be made in 2014. On December 31, 2013, the price of soybeans...
-
Green and Innocent Ltd has set the standard price for the direct materials used in its best-selling product at 100 per kg and the company expect to make 4 units from 1 kg of materials. The actual...
-
What similarities do you see between the purposes of break-even analysis and a decision tree? LO.1
-
Why do better decision regarding the purchasing and managing of goods for sale frequently cause dramatic percentage increases in net income?
-
What is the total period cost for the month under variable costing
-
Tierney Company begins operations on April 1. Information from job cost sheets shows the following. Manufacturing Costs Assigned Job Number 10 11 12 13 14 April 30 May June April. 4,900 5,200 June...
-
On December 31, a business estimates depreciation on equipment used during the first year of operations to be $18,100. a. Journalize the adjusting entry required as of December 31. b. If the...
-
The accountant for Sweetwater Laundry prepared the following unadjusted and adjusted trial balances. Assume that all balances in the unadjusted trial balance and the amounts of the adjustments are...
-
The velocity distribution for the flow of crude oil at 100F ( = 8 105 lbfs/ft 2 ) between two walls is shown and is given by u = 100y(0.1 y) ft/s, where y is measured in feet and the space between...
-
Use the following information for questions 1 and 2. Caterpillar Financial Services Corp. (a subsidiary of Caterpillar) and Sterling Construction sign a lease agreement dated January 1, 2020, that...
-
Identifying Binomial Distributions. Determine whether the given procedure results in a binomial distribution or a distribution that can be treated as binomial (by applying the 5% guideline for...
-
Case 6: TOMS Shoes in 2016: An Ongoing Dedication to Social Responsibility, by Margaret A. Peteraf, Sean Zhand, and Meghan L. Cooney (page C-57) Read the case and then respond to the case questions...
-
Quatro Co. issues bonds dated January 1, 2019, with a par value of $740,000. The bonds' annual contract rate is 13%, and interest is paid semiannually on June 30 and December 31. The bonds mature in...
-
Wildcat Mining wants to know the appropriate discount rate to use in their capital budgeting decision making process. Based on the following data, what is the weighted average cost of capital the CFO...
-
Working capital requirements can be ignored in capital budgeting decisions because these costs will be recouped when a project is terminated. Comment. mlp5
-
You deposit $10,000 in a savings account that earns 7.5% simple interest per year. What is the minimum number of years you must wait to double your balance? Suppose instead that you deposit the...
-
A rectangle of calcium-stabilized zirconia Zro.85 Cao.150 1.85 (a = 5.13 ) is covered with porous platinum electrodes on its opposite faces, heated to 1100 C in air, and an electrical conductivity of...
-
Hardcase Luggage Shop is a small retail establishment located in a large shopping mall. This shop has implemented the following procedures regarding inventory items: a. Since the shop carries mostly...
-
Beginning inventory, purchases, and sales data for portable DVD players are as follows: The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. Determine...
-
Beginning inventory, purchases, and sales data for prepaid cell phones for August are as follows: a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the...
-
The following are the information of Chun Equipment Company for Year 2 . ( Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated. ) Salaries...
-
Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. Beginning inventory, January 1, 2018 1,250 units...
-
Fibertech GmbH is a distributor of outdoors technical clothing. The company outsources the production of clothing to external manufacturers in Bangladesh and sells the clothing under its own brands....
Study smarter with the SolutionInn App