(30 marks) 10. Please prepare from the following information: - A. Worksheet . Journalized adjusting entries...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
(30 marks) 10. Please prepare from the following information: - A. Worksheet В. Journalized adjusting entries LAVIDA'S DANCE STUDIO TRIAL BALANCE JUNE 30,2019 Dr Cr 10150 00 5000 00 700 00 12950 00 300 00 Cash Accounts Receivable Prepaid Insurance Dance Equipment Dance Supplies Accumulated Depreciation, Dance Equipment Accounts Payable Lavida, Capital Lavida, Withdrawals 4000 od 5750 00 15150 00 400 00 Dance Fees Earned 5200 00 Instructor Salaries Expense Advertising Expense Telephone Expense 450 00 s0 00 70 00 30100 00 30100 00 Adjustment Data: - A. Insurance expired, $100 B. Dance supplies on hand, $20 C. Depreciation on dance equipment, $200 D. Salaries earned by employees but not due to be paid until July, $490 MIDTERM CHAPTERIQueion (30 marks) 10. Please prepare from the following information: - A. Worksheet В. Journalized adjusting entries LAVIDA'S DANCE STUDIO TRIAL BALANCE JUNE 30,2019 Dr Cr 10150 00 5000 00 700 00 12950 00 300 00 Cash Accounts Receivable Prepaid Insurance Dance Equipment Dance Supplies Accumulated Depreciation, Dance Equipment Accounts Payable Lavida, Capital Lavida, Withdrawals 4000 od 5750 00 15150 00 400 00 Dance Fees Earned 5200 00 Instructor Salaries Expense Advertising Expense Telephone Expense 450 00 s0 00 70 00 30100 00 30100 00 Adjustment Data: - A. Insurance expired, $100 B. Dance supplies on hand, $20 C. Depreciation on dance equipment, $200 D. Salaries earned by employees but not due to be paid until July, $490 MIDTERM CHAPTERIQueion
Expert Answer:
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1118845899
3rd edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
Posted Date:
Students also viewed these accounting questions
-
Prepare a worksheet for Michaud Co. from the following information using Figure 11.10: a./b. Merchandise Inventory, ending..................13 c. Store Supplies on...
-
Prepare a worksheet for Morin Co. from the following information using Figure: a/b. Merchandise Inventory, ending ....... 9 c. Store Supplies on hand ........... 2 d. Depreciation on Store Equipment...
-
Prepare a worksheet for Mitchell Co. from the following information using Figure. a/b. Merchandise Inventory, ending ....... 12 c. Store Supplies on hand ........... 2 d. Depreciation on Store...
-
Top managers of Ryan Products, Inc., have asked you to compare the companys profit performance and financial position with the average for the industry. The companys accountant has given you the...
-
Explain the difference between a training data set and a validation data set. Why are these data sets used routinely with data mining techniques in the XLMiner* program and not used in the ForecastX...
-
Television channel operating profits vary from as high as 45 to 55 percent at MTV and Nickelodeon down to 12 to 18 percent at NBC and ABC. Provide a Porter Five Forces analysis of each type of...
-
Assume the same information as in question 4. Also assume that beginning work in process had \($6,000\) in conversion cost and that \($84,000\) in conversion is added during this period. What is the...
-
A textile manufacturer wants to set up a control chart for irregularities (e.g. oil stains, shop soil, loose threads, and tears) per 100 square yards of carpet. The following data were collected from...
-
Dr. Jose Rizals arrest, exile, trial, and eventual execution, primarily, was the result of his two books namely, Noli Me Tngere, and El Filibusterismo. However, his protagonist Crisostomo Ibarra,...
-
According to a survey of American households, the probability that the residents own 2 cars if annual household income is over $50,000 is 80%. Of the households surveyed, 60% had incomes over $50,000...
-
Peter Brown considers investing in a new turning machine that costs $200,000 and would be depreciated straight-line (evenly) over 4 years. The expected increase in revenue resulting from the...
-
Using Mr. Puddle's information below, what are his end of month financial ratios/metrics: Monthly paycheck = $1,830 Monthly living expenses = $1,330 Monthly contribution to retirement account = $500...
-
Heidi invested $ 5 , 0 0 0 in her Roth 4 0 1 ( k ) on Jan 1 , 2 0 1 5 . This was her only contribution to the account. On July 1 , 2 0 2 3 , when the account balance was $ 8 , 0 0 0 , Heidi ( now age...
-
Nana has a 25m^(2 )plot of square of land. She wants to fence her plot. If each one meter length of fence costs RM^(235), how much does she have to spend for fences ?
-
Katie just received a bonus at work of $ 5 0 0 . She recognizes the power of compound interest and wants to invest the bonus in a special savings account that earns 1 0 % , compounding monthly. If...
-
Julie wants to retire and has $375,000. She expects to live for another 25 years, and she also expects to earn 7.5% on her invested funds. How much could she withdraw at the beginning of each of the...
-
Could you please comment on the following news financially? McDonald's plots rapid growth with 10,000 new stores, loyalty expansion (Reuters) -McDonald's is planning to open about 10,000 restaurants...
-
Estimate a range for the optimal objective value for the following LPs: (a) Minimize z = 5x1 + 2x2 Subject to X1 - x2 3 2x1 + 3x2 5 X1, x2 0 (b) Maximize z = x1 + 5x2 + 3x3 Subject to X1 + 2x2 +...
-
The First Bank of Flagstaff has issued perpetual preferred stock with a $100 par value. The bank pays a quarterly dividend of $1.65 on this stock. What is the current price of this preferred stock...
-
After examining the NPV analysis for a potential project that would increase the firm's output by 5 percent, an analyst's manager tells the analyst to increase the initial fixed capital outlay in the...
-
True Blue Company increased its investments in marketable securities by $323,370 and paid $1,220,231 for new fixed assets during 2014. The company also repaid $779,200 of existing long-term debt...
-
Look back at Table 15.1. Show that y4 will exceed y3 if and only if the forward interest rate for period 4 is greater than 7%, which is the yield to maturity on the 3-year bond, y3. Table 15.1...
-
Suppose the interest rate decreases to 9% as an annual percentage rate. What will happen to the prices and durations of the two bonds in Spreadsheet 16.1? A B C D E F G 1 Time until PV of CF 2...
-
a. In Concept Check 16.1, you calculated the price and duration of a 2-year maturity, 8% coupon bond making semiannual coupon payments when the market interest rate is 9%. Now suppose the interest...
Study smarter with the SolutionInn App