Complete the work sheet for Ramey Company, dated December 31, 20, through the adjusted trial balance using
Question:
a. Expired or used- up insurance, $ 460.
b. Depreciation expense on equipment, $ 870. (Remember to credit the Accumulated Depreciation account for equipment, not Equipment.)
c. Wages accrued or earned since the last payday, $ 120 (owed and to be paid on the next payday).
d. Supplies remaining, $80.
Transcribed Image Text:
Ramey Company Work Sheet For Month Ended December 31.20 TRIAL BALANCE DEBIT 5,190.00 ADJUSTMENTS ADJUSTED TRIAL BALANCE CREDIT DEBIT CREDIT DEBIT ACCOUNT NAME Cash Supplies Prepaid Insutance Equipment Accumulated. Depr, Equip. Accounts Payatle S. Ramey Capital S. Ramey Drewing CREDIT 43000 1 20000 4,678.00 1,556.00 1875.00 6,026.00 1,70000 Service Fees Rent Expense Supplies Expense Wages Expense Miscellanecus Expense 5,836.00 96500 267.00 765.00 15,203.00 15,293.0o
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 73% (15 reviews)
Ramey Company Work Sheet For Year Ended December 31 20 TRIAL BALANCE ...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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 adjusted trial balance columns of the work sheet for Thao Company, owned by D. Thao, are as follows. Instructions (a) Prepare closing entries. (b) Use T accounts to post the closing entries and...
-
The following information is from the work sheet for Pursley Company as of December 31, 2014. Using this information, determine the amount that should be reported for Alice Pursley, Capital on the...
-
The following information is from the work sheet for Hascal Company as of December 31, 2014. Using this information, determine the amount for Sam Hascal, Capital that should be reported on the...
-
During the year ended 30 June 2019 XYZ Pty Limited, a resident Australian private company (non BRE), received a franked dividend of $10,800 with $3,200 of attached franking credits. XYZ Pty Limited...
-
List the various ways in which you might invest in foreign securities.
-
Use the Thermal conductivity-Electrical resistivity \(\left(\lambda-ho_{e} ight)\) chart (Fig. 3.10) to find three materials other than diamond with high thermal conductivity, \(\lambda\), and high...
-
What are the key factors behind a successful report presentation?
-
Dulce Company produces a popular candy bar called Rico. The candy is produced in Costa Rica and exported to the United States. Recently, the company adopted the following standards for one 5-ounce...
-
9. By finding the x and y intercepts, graph each of the following. II) 5. y = x + 2 7. 8x-4y = 16 III) 3x+y=2 x intercept = y intercept = x intercept = y intercept = 6. 4x+5y=20 8. y-4x=8 Write in...
-
You are advising a lender group and the debtor FA provides the following summary 13-week cash flow information. Calculate the implied EBITDA for the period Receipts Payroll AP disbursements Rent...
-
A partial work sheet for Marges Place is shown below. Prepare the following adjustments on this work sheet for the month ended June 30, 20. a. Expired or used- up insurance, $ 450. b. Depreciation...
-
Journalize the four adjusting entries from the partial work sheet on the next page for Brady Company for the month ended May 31. Brady Company Work Sheet For Month Ended May 31,20- NCOME STATEMENT...
-
Determine the sum of the first n terms of the geometric sequence for the values of a 1 and r. n = 4, a 1 = 3, r = 2
-
By what factor does the inertia of an electron increase (a) as the electron is accelerated from rest to \(\frac{1}{3} c_{0}\) and \((b)\) as its speed is increased by another \(20 \%\) ? (c) Does the...
-
A spacecraft traveling away from Earth at relative speed \(0.850 c_{0}\) sends a radio message when it is \(65,000,000 \mathrm{~km}\) away from Earth in the Earth reference frame. When the signal is...
-
Observer A on Earth sees spaceship B moving at speed \(v=0.600 c_{0}\) away from Earth and spaceship C moving at the same speed in the opposite direction. Observer A determines that both ships...
-
A pendulum consists of a bob of mass \(m_{\text {bob }}\) hanging at the end of a light rod of mass \(m_{\text {rod }}\) and length \(\ell\). If you ignore the mass of the rod, the period is...
-
A proton strikes an air molecule in Earth's atmosphere, creating a muon \(6.0 \mathrm{~km}\) above the ground. The muon travels toward Earth at nearly \(c_{0}\) and decays just before reaching the...
-
Compute dy/dx using the limit definition. y = 1/(x 1) 2
-
Establish identity. cos( + k) = (-1)k cos , k any integer
-
Anna-Greta Lantto, the assistant controller of Kiruna AB had recently prepared the following quality report comparing 2022 and 2021 quality performances. Just two days after preparing the report,...
-
Godwin Co. owns three delivery trucks. Details for each truck at the end of the most recent year follow: At the beginning of the year, a hydraulic lift is added to Truck 1 at a cost of $4,500. The...
-
a. Financial statements should aid the user of the statements in making decisions. In your opinion, would the user of the statements be aided if there were a distinction between financial reporting...
-
a. The United States Congress is well qualified to debate and set generally accepted accounting principles. Comment. b. Speculate on why these bills were directed to amend the Securities Exchange Act...
-
Individual Retirement Account (IRA) Bonds Mutual fund Stocks Futures Defined contribution plans What is it? Level of Risk and Potential Return Minimum investment? Easy to start or stop?
-
1. A company purchased machinery in 2015 for $400,000. Its value in 2018 was $320,000. Assuming the resale value decreases exponentially, what will the value be in 2020? As a part of your solution,...
-
ROA of a company is 8.57%, Total assets end of the year of 2021 are $9.6 million, ROE is 14% and Profit margin of 19.9% what is the firms value of net income? and what is stockholders equity?
Study smarter with the SolutionInn App