Assume that debit balances at the end of the accounting period are $2,800 in Rent Expense, $2,200
Question:
Assume that debit balances at the end of the accounting period are $2,800 in Rent Expense, $2,200 in Wages Expense, and $1,000 in Other Expenses. Prepare the required closing entry in journal form. The accounting period ends December 31.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
tr msoheightsourceauto col msowidthsourceauto br msodataplacementsamecell style18 msonumberformat002...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Assume that at the end of the accounting period there are credit balances of $3,400 in Patient Services Revenues and $1,800 in Laboratory Fees Revenues. Prepare the required closing entry. The...
-
In making adjusting entries at the end of its accounting period, Gomez Consulting failed to record $1,600 of insurance coverage that had expired. This $1,600 cost had been initially debited to the...
-
In making adjusting entries at the end of its accounting period, Chao Consulting failed to record $3,200 of insurance coverage that had expired. This $3,200 cost had been initially debited to the...
-
Consider the plane stress inhomogeneous case with only variation in elastic modulus given by E = E(y) = 1/ (Ay + B). Further assume that the Airy function depends only on y, = (y). Show that...
-
In year 0, Javens, Inc. sold machinery with a fair market value of $400,000 to Chris. The machinery's original basis was $317,000 and Javens's accumulated depreciation on the machinery was $50,000,...
-
What extent can strain theory and anomie provide a framework for understanding the societal conditions that give rise to deviant behavior ?
-
A normal shock occurs in a perfect gas. Sketch a Temperature - Entropy \((T-S)\) diagram of the process and show the following: Static and stagnation pressure and temperature before and after the...
-
A solvent-recovery plant consists of a plate-column absorber and a plate-column stripper. Ninety percent of the benzene (B) in the gas stream is recovered in the absorption column. Concentration of...
-
Blue Spruce, Inc. has the following production data for June: Completed and transferred out 41,000 units Ending work in process inventory 4,100 units The units in work in process inventory are 100%...
-
Determine which matrices in Exercise 2 are tri diagonal and positive definite. Repeat Exercise 2 for these matrices using the optimal choice of . In Exercise 2 a. 4x1 + x2 x3 = 5, x1 + 3x2 + x3 = 4,...
-
Assume that at the end of the accounting period there are credit balances of $6,800 in Patient Services Revenues and $3,600 in Laboratory Fees Revenues. Prepare the required closing entry in journal...
-
Show the effects of the transactions in SE 2, SE 3, SE 4, and SE 5 by entering beginning balances in appropriate T accounts and recording the transactions. Assume that the R. Shah, Capital account...
-
1. Why do critics argue that employee involvement as part of a wider HRM approach represents pseudo-participation? 2. Do employees in British workplaces have the ability to influence key strategic...
-
Graph the first-degree inequalities in two unknowns in Problems 13-48. \(2 x-3 y+4 \leq 1\)
-
The following output (from \(\mathrm{R}\) ) presents the results of a hypothesis test for a population mean \(\mu\). a. Is this a one-tailed or a two-tailed test? b. What is the null hypothesis? c....
-
It has been observed that for the system air-water vapor at near-ambient conditions, Le \(=1.0\) (Treybal, 1980). This observation, called the Lewis relation, has profound implications in...
-
Sketch the graph of each equation in Problems 3-30. \(y=-5 x^{2}\)
-
Porous silica gel is used to adsorb propane from helium at \(373 \mathrm{~K}\) and \(1 \mathrm{~atm}\). Typical values of parameters for porous silica gel are as follows: porosity \(=0.486\),...
-
PricewaterhouseCoopers (PwC) is one of the Big 4 accounting firms that, along with Deloitte, EY, and KPMG, handles 80% of auditing for all U.S. public companies. PwC provides tax, assurance, and...
-
You are interested in investing and are considering a portfolio comprised of the following two stocks. Their estimated returns under varying market conditions are provided: (note: it is difficult to...
-
Ethane, C 2 H 6 , dissociates into methyl radicals by a firstorder reaction at 700C. If 820. mg of ethane is confined to a reaction vessel of volume 2.00 L and heated to 700C, what is the initial...
-
At the beginning of the fiscal year, David Company purchased for $1,030,000 a patent that applies to the manufacture of a unique tamper-proof lid for medicine bottles. David incurred legal costs of...
-
Zee Corporation had net cash flows from operating activities during the past year of $432,000. During the year, the company expended $924,000 for property, plant, and equipment; sold property, plant,...
-
Common terms associated with long-term assets follow. a. Tangible assets b. Natural resources c. Intangible assets d. Additions e. Betterments f. Extraordinary repair g. Depreciation h. Depletion i....
-
Describe, in steps, at least one strategy used to attack embedded operating systems. Describe, in steps, at least one strategy used to defend against the chosen attack.
-
how does a hypercompetetice environment challenge those in an industry
-
Describe how managers can reduce unnecessary costs, including real - world examples of how it has been done
Study smarter with the SolutionInn App