Crossway Apartments, Inc.s unadjusted and adjusted trial balances at April 30, 2012, follow: Requirements 1. Make the
Question:
Requirements
1. Make the adjusting entries that account for the differences between the two trial balances.
2. Compute Crossways total assets, total liabilities, net income, and totalequity.
Transcribed Image Text:
Crossway Apartments, Inc. Adjusted Trial Balance April 30, 2012 Trial Balance Adjusted Trial Balance Debit Credit Debit Credit S 8,400 Account Cash Accounts receivable Interest receivable Note receivable Supplies Prepaid insurance Building Accumulated depreciation Accounts payable Wages payable Unearned rental revenue Common stock Retained earnings Dividends Rental revenue Interest revenue Depreciation expense Supplies expense Utilities expense Wage expense Property tax expense Insurance expense Total S 8,400 6,800 400 5,300 600 900 63,000 6,300 5,300 1,300 2,400 63,000 $10,200 6,300 1,200 1,800 14,000 46,200 5 8,800 6,300 2,000 14,000 46,200 3,500 3,500 15,000 300 15,700 700 1,400 700 400 2,500 700 1,500 400 1,300 700 92,600$92,600 96,100 $96,100
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
Req 1 Journal DATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT Apr 30 Accounts Receivable 6800 ...View the full answer
Answered By
Nyron Beeput
I am an active educator and professional tutor with substantial experience in Biology and General Science. The past two years I have been tutoring online intensively with high school and college students. I have been teaching for four years and this experience has helped me to hone skills such as patience, dedication and flexibility. I work at the pace of my students and ensure that they understand.
My method of using real life examples that my students can relate to has helped them grasp concepts more readily. I also help students learn how to apply their knowledge and they appreciate that very much.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
Question Posted:
Students also viewed these Accounting questions
-
Crossway Rental Companys unadjusted and adjusted trial balances at June 30, 2018, follow: Requirements 1. Make the adjusting entries that account for the differences between the two trial balances....
-
Peppertree Apartments, Inc.'s, unadjusted and adjusted trial balances at April 30, 20X1, is given on the next page. Required 1. Make the adjusting entries that account for the differences between the...
-
Driftwood Apartments, Inc.s unadjusted and adjusted trial balances at April 30, 2014, follow: Requirements 1. Make the adjusting entries that account for the differences between the two trial...
-
Using monthly data for Meta since its IPO date of 31/12/2019, estimate equity beta for Meta. Compare your estimate of Metas equity beta with Facebooks beta provided by Yahoo Finance and comment on...
-
Determine whether the consultancy service provided by Jayne is a related party transaction that should be disclosed in the financial statements of Armstrong Ltd. Explain your answer.
-
For the following exercises, sketch a graph of the given function. f(x) = x + 5
-
Yehti Manufacturing (B). Assume all of the same debt and equity values for Yehti Manufacturing in Problem 9, with the sole exception that both A-shares and B-shares have the same voting rightsone...
-
Toys, Inc., is a 20- year- old company engaged in the manufacture and sale of toys and board games. The company has built a reputation on quality and innovation. Although the company is one of the...
-
Sing Imports Corp. reports the following amounts on its statement of cash flows: Trade accounts payable Dividends payable Provision for litigation Decommissioning obligation Note payable, 4% Note...
-
Food scientists have created a new oil. At room temperature, the oil is a liquid. As the oil gets colder however, it stiffens (thickens) into a sticky gel. To explore the properties of the oil, the...
-
Consider the unadjusted trial balance of Princess, Inc., at August 31, 2012, and the related month-end adjustment data. Adjustment data at August 31, 2012, include the following: a. Accrued...
-
The adjusted trial balance of Nicholl Corporation at May 31, 2012, follows: Requirements 1. Prepare Nicholls 2012 income statement, statement of retained earnings, and balance sheet. List expenses...
-
Suppose that the price per unit in dollars of a cell phone production is modeled by p = $45 0.0125x, where x is in thousands of phones produced, and the revenue represented by thousands of dollars...
-
What is the law for the speed ratio of a compound gear train?
-
The following data (and annotations) are related to the June 2016 charges appearing in the work in process account for Sutter Companys first processing department: Sutter uses the FIFO method. Direct...
-
The following data and annotations are for the work in process account of the first of Crocker Companys four departments used in manufacturing its only product October of 2016. Assuming that Crocker...
-
The following data (and annotations) are for Sutter Companys processing department work in process account for the month of June 2016: Sutter uses the weighted average method. Materials are added at...
-
The following selected operating data are for Jackson Companys Blending Department for the month of April 2016. Tinting and packaging operations are carried out subsequently in other departments....
-
A stranded conductor is an example of a composite conductor. (a) True (b) False
-
Extend Algorithms 3.4 and 3.5 to include as output the first and second derivatives of the spline at the nodes.
-
Explain the relationship between price and marginal revenue for a perfectly competitive firm and for a monopolistically competitive firm. Why is the relationship different for these markets?
-
Based on its statement of cash flows, in what stage of the product life cycle is Tootsie Roll Industries?
-
Contrast the advantages and disadvantages of the direct and indirect methods of preparing the statement of cash flows. Are both methods acceptable? Which method is preferred by the FASB? Which method...
-
Describe the indirect method for determining net cash provided (used) by operating activities. Discuss.
-
Villian, Inc.'s comparative income statement follows. The 2023 data are given as needed.Begin by selecting the formula to calculate the profit margin ratio.Profit margin ratioXData tableTeal'S Clued...
-
When completing a bank reconciliation, Question 1 options: a) enter the check register balance on the current date. b) add bank fees to the check register amount. c) subtract outstanding deposits...
-
2. PT. Asindo pada tahun 2021 memiliki informasi sebagai berikut. Saldo kas awal Rp 10.000.000 Laba yang ditahan, awal Rp 15.000.000 Persediaan awal 5.000 Unit @Rp 3.500 Rp 17.500.000 Pembelian 7.000...
Study smarter with the SolutionInn App