An accountant prepared the following post-closing trial balance: Prepare a corrected post-closing trial balance. Assume that all
Question:
Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown arecorrect.
Transcribed Image Text:
Honest Sam's Repair Co. Post-Closing Trial Balance July 31, 2008 Debit Balances Balances Credit Cash. 2,770 88,200 Equipment 3,780 7,560 95,445 Samantha Marcus, Capital.. 206,260 94750
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
HONEST SAMS REPAIR CO PostClosing Trial Balance July 31 2008 Debit ...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ 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:
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
-
An accountant prepared the following post-closing trial balance. Prepare a corrected post-closing trial balance, Assume that all accounts have normal balance and that the amounts shown arecorrect....
-
An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial Balance July 31, 2018 Prepare a corrected post-closing trial balance. Assume that all...
-
All accounts have normal balances. What is the normal balance of each of these accounts? a. Cash b. Sales c. Notes payable d. Inventory e. Retained earnings f. Salary expense g. Equipment h. Unearned...
-
Our model of pollution in this chapter assumed that emissions are a pure private bad, and that people have no ability to protect themselves from the adverse consequences of exposure. In reality,...
-
On January 1, 2013, Barbosa Company purchased a coal mining site for $1,000,000. Under the terms of the purchase agreement, Barbosa must restore the site to specified conditions at an estimated cost...
-
For each of the following pairs, which bond would you expect to pay a higher interest rate? Explain. a. a bond of the U.S. government or a bond of an East European government. b. a bond that repays...
-
Piecewise Linear Regression. In Example 7.3 we showed how a linear regression model with a change in slope at some point $t\left(x_{\min } Example 7.3 An important special case of practical interest...
-
Briefly discuss the convergence efforts that are underway in the area of intangible assets .
-
(a) Show that the ODE y" + b'(x) y' - b(x) a b (x) = 0 has a pair of linearly independent solutions that are reciprocals (i.e., y(x) and (2)) where a is a constant and b(x) is a function of x. Find...
-
Irenes demand for pizza is given by: Q = 0:3I / P Where Q is the weekly quantity of pizza bought (in slices), I is weekly income, and P is the price of pizza. Using this demand function, answer the...
-
Which of the following accounts will usually appear in the post-closing trial balance? a. Accounts Payable b. Accumulated Depreciation c. Cash d. Depreciation Expense e. Fees Earned f. Office...
-
Dakota Services Co. offers cleaning services to business clients. The trial balance for Dakota Services Co. has been prepared on the end-of-period spreadsheet (work sheet) for the year ended July 31,...
-
Fill in the blanks with an appropriate word, phrase, or symbol(s). For the rational number p/q, q is called the _________.
-
The "dc" power flow solution, giving approximate answers, is based on completely neglecting the \(\mathrm{Q}-\mathrm{V}\) equation and solving the linear real-power balance equations. (a) True (b)...
-
Can the symmetrical component transformation be applied to currents, just as it is applied to voltages? (a) Yes (b) No
-
For the iterative solutions to nonlinear algebraic equations with the Newton-Raphson method, the Jacobian matrix \(\mathbf{J}(i)\) consists of the partial derivatives. Write down the elements of...
-
The kinked demand curve depicts ______. a) cutthroat competition b) cartels c) collusive oligopoly d) price leadership
-
While the fast decoupled power flow usually takes more iterations to converge, it is usually significantly faster than the Newton-Raphson method. (a) True (b) False
-
What information provided by SNMP might be useful to someone planning the IP spoofing attack? What other SNMP information might be considered sensitive?
-
U.S. households have become smaller over the years. The following table from the 2010 GSS contains information on the number of people currently aged 18 years or older living in a respondent's...
-
Suppose that a square-law circuit has the inputoutput relationship where x is the input voltage and y is the output voltage. (a) Derive a least-squares procedure for calculating k. (b)Experimentation...
-
Zero Calories Company has 16,000 shares of cumulative preferred 1% stock, $40 par and 80,000 shares of $150 par common stock . The following amounts were distributed as dividends: Year 1....$ 21,600...
-
On May 10, Century Realty Inc. issued for cash 90,000 shares of no-par common stock (with a stated value of $30) at $42. On September 3, Century Realty Inc. issued at par value 36,000 shares of...
-
On January 22, Zentric Corporation issued for cash 180,000 shares of no-par common stock at $4. On February 14, Zentric Corporation issued at par value 44,000 shares of preferred 2% stock, $55 par...
-
One of the two alternative long term debt or common stock will move Central Furniture Company to a more optimum capital structure. 1.what criteria are used to judge optimum capital structure?
-
Anna has a balance of $5,000 in her VISA account which grows at a nominal interest rate of 19.99% compounded daily. To pay off this balance, she makes monthly payments to VISA, with her first payment...
-
Joe works at a major pharmaceutical research and development company and has been tasked with writing his organization's data retention policy. As part of its legal requirements, the organization...
Study smarter with the SolutionInn App