The trial balance of The New Decors for the month ended September 30 is as follows: Data
Question:
Data for the adjustments are as follows:
a. Expired or used- up insurance, $ 425.
b. Depreciation expense on equipment, $ 2,750.
c. Wages accrued or earned since the last payday, $ 475 (owed and to be paid on the next payday).
d. Supplies remaining at end of month, $ 215.
Required
1. Complete a work sheet.
2. Journalize the adjustingentries.
The New Decors Trial Balance September 30,20- Account Name Cash Supplies Prepaid Insurance Equipment Accumulated Depreciaton, Equipment Accounts Payable R. Becker, Capital R. Becker, Drawing Income from Services Wages Expense Rent Expense Utilities Expense Telephone Expense Miscellaneous Expense Debit 4,378 1.864 1.345 30,978 Credit 15,235 3.751 44,208 20.445 44.791 29.761 15,932 1.573 1,271 438 107985 107985
Step by Step Answer:
The New Decors Work Sheet For Month Ended September 30 20 TRIAL BALANCE ADJUSTMENTS ACCOUNT NAME DEB...View the full answer
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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
-
From the following information, make adjusting journal entries for July. (15 points) a. Depreciation Expense is $350. b. Supplies remaining at end of period $75, beginning supplies was $250. c....
-
The trial balance of Arlington Air Purification System at December 31, 2012, and the data needed for the month-end adjustments follow. Adjustment data at December 31 follow: a. Unearned service...
-
The trial balance of Canton Air Purification System at December 31, 2012, and the data needed for the month-end adjustments follow. Adjustment data at December 31 follow: a. Unearned service revenue...
-
Selected financial data for Petersen Corporations revenue and income (contribution) are reproduced below: Required: a. Use common-size statements to analyze every divisions (1) contribution to total...
-
Describe four ways that banks can influence corporate boardrooms in countries-such as Germany-that offer universal banking?
-
A tank contains 1000 L of pure water. Brine that contains 0.05 kg of salt per liter of water enters the tank at a rate of 5 L/min. Brine that contains 0.04 kg of salt per liter of water enters the...
-
Figure P27.38 shows a bar magnet placed at four positions on and near a spherical shell. Rank the positions according to the amount of magnetic flux through the shell, smallest flux first. Data from...
-
The Summit Manufacturing Company produces two products. One is a recreational whitewater kayak molded from plastic and designed to perform as a durable whitewater play boat. The other product is a...
-
Question Two. Evaluate the levels of management Question Three. [15 marks] A chief executive officer cannot perform all the activities in organization; discuss the importance of the organizing...
-
Jeri Cooper, the sales manager of Brunners Corporation, is getting worried. Her last three bids were rejected in favor of a lower bid from a new competitor to the market. Now, she is putting together...
-
The trial balance for Masons Insurance Agency as of August 31, after the firm has completed its first month of operations, is shown below. Required 1. Record amounts in the Trial Balance columns of...
-
The completed work sheet for Juarez Design for the month of March is in your Working Papers or in CengageNow. Required 1. Journalize the adjusting entries. 2. Prepare an income statement. 3. Prepare...
-
What is NIFO?
-
You will write the Flight method assignGroup, which is described as follows. The parameter to the Flight method assignGroup is a list of passengers, group. These passengers require a block of...
-
uild a predictive maintenance system for industrial machinery using IoT sensors and machine learning. The system should predict potential equipment failures and schedule maintenance to minimize...
-
The firm has $0.500 billion in outstanding debt. Its total value is $2 billion. Its cost of debt (rd) is 8% and its cost of equity is (re) is 12%.What is its weighted average cost of capital (WACC)...
-
1. a. Clearly identify the industry for Advance Auto Parts, Inc. b. Find its industry classification code (SIC and NAICS). c. Identify the key competitors in the industry. 2. Once you have a grasp on...
-
Select the quadratic equation from the following list that corresponds to the parabola in the following figure. YA O Select one: O O O O y=-x+4x-6 y= x-4x+4 y=-x-4x-2 y= x-4x+2 y=-x-4x-6
-
Describe direct use of geothermal energy.
-
Find the inverse, if it exists, for the matrix. -1
-
Mikkeli Oy has three operating divisions. The managers of these divisions are evaluated on their divisional operating profit, a figure that includes an allocation of corporate overhead proportional...
-
Below is information from the statement of owner's equity of Mrs. Bell's Cookies for a recent year. Withdrawals..................................................0 Net...
-
Below are the financial accounts of Landscape Design. The company has just completed its third year of operations ended November 30, 20x8. Accounts Receivable...
-
Below are the financial accounts of Dodge Realty. The company has just completed its 10th year of operations ended December 31, 20x8. Accounts Payable...
-
QUESTIONS; 1. What is Strategy and Planning in Human Resource Management and how does it help in the achievement of the organizations mission and vision? 2. What is Performance Management? And how it...
-
Think about a company or organization you are familiar with, perhaps one you have worked for or even a place of worship or school. Answer the following questions in a minimum of 175 words: What type...
-
Use the data in exhibits 10 to 14 to calculate a discount rate for valuing the cost savings. Explain and defend your choice of beta and the risk free rate and market risk premium. here goes exhibits...
Study smarter with the SolutionInn App