Based on the data in Exercise 4-25, prepare the closing entries for Zeidman Security Services Co. Data
Question:
Based on the data in Exercise 4-25, prepare the closing entries for Zeidman Security Services Co.
Data from Exercise 4-25:
Zeidman Security Services Co. offers security services to business clients. Complete the following end-of-period spreadsheet (work sheet) for Zeidman Security Services Co.
Zeidman Security Services Co. End-of-Period Spreadsheet (Work Sheet) For the Year Ended July 31, 2012 Adjusted Balance Sheet Income Trial Balance Statement Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash Accounts Receivable Supplies Prepaid Insurance Land 12 89 3 4 100 Equipment Accum. Depr.-Equipment Accounts Payable Wages Payable Capital Stock Retained Earnings 40 8. 36 1 40 130 Dividends 8. Fees Earned 99 Wages Expense Rent Expense Insurance Expense Utilities Expense Supplies Expense 21 12 8. 6. 5 Depreciation Expense Miscellaneous Expense 4 2 314 314 Net income (loss)
Step by Step Answer:
2012 July 31 Fees Earned 99 Income Summary 99 31 Income Summary 58 W...View the full answer
Financial and Managerial Accounting Using Excel for Success
ISBN: 978-1111993979
1st edition
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
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 Business questions
-
Zeidman Security Services Co offers security services to business clients. The trial balance for Zeidman Security Services Co. has been prepared on the end-of-period spreadsheet (work sheet) for the...
-
Based on the data in Exercise prepare a contribution analysis of the variable costs for Romero Products Inc. for the year ended December 31, 2014. In Exercise The following data for Romero Products...
-
Based on the data in Exercise 7-11 and assuming that cost was determined by the FIFO method, show how the merchandise inventory would appear on the balance sheet.
-
Discuss the concept of the Process Spectrum. Use examples where appropriate.
-
In 1962, physicists at Cal Tech discovered that the surface of the Sun vibrates due to the violent nuclear reactions that roil within its core. This has led to a new field of solar science known as...
-
Pension plan assets were $80 million at the beginning of the year and $83 million at the end of the year. The return on plan assets was 5%. At the end of the year, cash invested in the pension fund...
-
Fill in the Blank. The main advantage of a stroboscope is that it can measure the speed without making _______________ with the rotating body.
-
Sylvan Inc. entered into a non-cancelable lease arrangement with Breton Leasing Corporation for a certain machine. Bretons primary business is leasing; it is not a manufacturer or dealer. Sylvan will...
-
Surveillance could be an important aspect of an internal investigation. What are some special techniques used in surveillance? What are the legal and privacy issues that might be involved? Do you...
-
According to data from facebook.com, in 2016 the average amount of time that users spend each day on Facebook, Instagram, and Messenger platforms is 50 minutes. Assume the data for time spent follow...
-
An accountant prepared the following post-closing trial balance: Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct....
-
Navigator incorporated an Accountability and Transparency Performance Score into the overall evaluation of charities reviewed on its website. The Accountability and Transparency Performance Score is...
-
Find the arithmetic mean for each set of values. 55. 5, 9, 8, 2, 4, 7, 3, 2, 0
-
In a contrived sale to its SPE LJMI, Enron used what it referred to as the ______________ price to justify a mark-to-market revaluation of its ownership in the Cuiaba Power Plant.
-
The intermingling of a companys assets or liabilities with personal assets or liabilities of its major shareholders, officers, or directors is a signal of poor internal control. True/False
-
The SEC maintained that when communicating with investors and financial analysts, Adelphia misrepresented the extent to which it had upgraded its cable plant. True/False
-
In Enrons Annual Report, the note titled Unconsolidated Equity Affiliates reflected the ______________ of unconsolidated affiliates in billions of dollars, which were then removed from the companys...
-
For several years Enron kept growing through reckless and unsuccessful global projects by: (a) Constantly overstating its earning and understating its debts. (b) Practicing mark-to-market accounting....
-
A Federal Reserve publication remarks: For Okuns law to be useful as a rule of thumb, the relationship between real GDP growth and the unemployment rate needs to be stable across time. a. What is the...
-
Find the market equilibrium point for the following demand and supply functions. Demand: 2p = - q + 56 Supply: 3p - q = 34
-
Based on the data in Exercise 4-22, prepare the adjusting entries for Alert Security Services Co. Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 2018 Unadjusted...
-
Hahn Flooring Company uses a perpetual inventory system. Journalize the December 31 adjusting entries based upon the following: A. Sales returns of $125,000 and merchandise returns of $80,000 are...
-
After the amount due on a sale of $28,000, terms 2/10, n/eom, is received from a customer within the discount period, the seller consents to the return of the entire shipment for a cash refund. The...
-
of estion 2.1 Write a C++ program that calculates a customer's bill for a local cable company. The cable company has two types of customers: residential and business with different rates allocated...
-
Use Sobel mask and find horizontal and vertical gradient outputs for the given 5x5 image matrix which is coded 4-bit/pixel. (Don't use padding operation, obtain your output matrix as 3x3 image size!)...
-
003 The minimal polynomial associated with the matrix 102 01 1 is
Study smarter with the SolutionInn App