3 / 0 1 Paid the March rent - - $ 4 0 0 . 0 3...
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Question:
Paid the March rent$
Issued additional shares of their Common Stock for $Hint: check the February opening balance for the par value of their stock.
Collected $ on account.
Paid Salaries and Wages$
Paid creditors on account$
Sold a drill and various small tools for $The cost and accumulated depreciation associated with these are $ and $ respectively.
Purchased a new drill for $
Sold merchandise for $ Cash sales were $ units were sold
Superior Small AppliancesRepairs & Replacements, Inc. reacquired shares of its Common Stock for $
Paid Salaries and Wages and various other Operating Expenses$Salaries and Wages were $
Purchased additional supplies for on account.
Received $ for repair services performed in March. $ was done on account
Superior Small AppliancesRepairs & Replacements, Inc. wrote off a delinquent account for $
Received $ for repairs that will be completed between and
Superior Small AppliancesRepairs & Replacements, Inc. declared a quarterly cash dividend of $ to be paid on April th
Journalize the summary transactions for the month of March.
Post the March summary transactions into the General Ledger Accounts.
Calculate the end of the month balances for the General Ledger Accounts.
Prepare a Trial Balance for the month of March. Before Adjustments
Adjustment Data:
The supplies on hand amount to $ at March st
Accrue the Salaries & Wages due $
Record two months of depreciation on the equipment. Straight line, year useful life, no salvage value
Superior Small AppliancesRepairs & Replacements, Inc. has determined that the Allowance for Doubtful Accounts should have a Credit Balance of $ for the next period.
Record two months of expired insurance.
$ of the Unearned Revenue has Not been completed.
Additional Instructions:
Journalize the Adjusting Entries
Post the Adjusting Entries
Calculate the new ending balances for the affected accounts.
Prepare an Adjusted Trial Balance at March st
Journalize the Closing Entries.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: