At the end of the accounting period, Adams Companys general ledger contained the following adjusted balances: Required
Question:
Required
1. Set up the preceding spreadsheet format.
2. Record the closing entries in the Closing Entries column of the spreadsheet.
3. Compute the Ending Trial Balance amounts.
Transcribed Image Text:
BİCDE F G Adjusted Trial Balance Debit Credit Closing Entries Ending Trial Balance 2 Account Titles 3 Cash 4 Certificate of Deposit 5 Interest Receivable 6 Accounts Receivable 7 Supplies 8 Prepaid Rent 9 Office Equipment 10 Accumulated Depreciation 11 Accounts Payable 12 Salaries Payable 13 Unearned Revenue 14 Common Stock 15 Retained Earnings 16 Service Revenue 17 Interest Revenue 18 Salaries Expense 19 Rent Expense 20 Utilities Expense 21 Supplies Expense 22 Depreciation Expense 23 Operating Expense 24 25 Totals Credit Debit Credit 1500 10000 250 12000 700 6000 9000 1000 2650 1500 2000 38000 250 13500 6000 150 800 1000 4500 65400 65400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (10 reviews)
tr msoheightsourceauto col msowidthsourceauto br msodataplacementsamecell style0 msonumberformatGeneral textaligngeneral verticalalignbottom whitespac...View the full answer
Answered By
Larlyu mosoti
I am a professional writer willing to do several tasks free from plagiarism, grammatical errors and submit them in time. I love to do academic writing and client satisfaction is my priority. I am skilled in writing formats APA, MLA, Chicago, and Harvard I am a statistics scientist and I can help out in analyzing your data. I am okay with SPSS, EVIEWS, MS excel, and STATA data analyzing tools.
Statistical techniques: I can do linear regression, time series analysis, logistic regression, and some basic statistical calculations like probability distributions. . I'm ready for your working projects!
Services I would offer:
• Academic writing.
• Article writing.
• Data entry.
• PDF conversion.
• Word conversion
• Proofreading.
• Rewriting.
• Data analyzing.
The best reason to hire me:
- Professional and Unique work in writing.
- 100% satisfaction Guaranteed
- within required time Express delivery
- My work is plagiarism Free
- Great communication
My passion is to write vibrantly with dedication. I am loyal and confident to give my support to every client. Because Client satisfaction is much more important to me than the payment amount. A healthy client-contractor relationship benefits in the longer term. Simply inbox me if you want clean work.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
Question Posted:
Students also viewed these Accounting questions
-
At the end of its accounting period, December 31, 2012, May Corporation owed $1,000 for property taxes which had not been recorded nor paid. Therefore, the 2012 adjusting entry should be which of the...
-
At the end of an accounting period, a company has $ 4,000,000 recorded in accounts receivable, all from sales. It is not likely that the company will collect all of the $ 4,000,000, even though all...
-
At the end of the accounting period, Isaac Company had a balance of $4,000 in its common stock account, additional paid in capital of $4,000, retained earnings of $3,000, and $1,000 of treasury...
-
. 4. Bank overdrafts repayable on * 1 point demand may be included in the cash and cash equivalent balance. True O False
-
Suppose you have $400,000 to spend on a house and other goods (denominated in dollars). A. The price of 1 square foot of housing is $100 and you choose to purchase your optimally sized house at 2000...
-
On December 31, 2018, Rhone-Metro Industries leased equipment to Western Soya Co. for a four-year period ending December 31, 2022, at which time possession of the leased asset will revert back to...
-
Derive the kinematic and dynamic conditions needed in the analysis. Set up the equations to find the constants. Now require that the determinant of the coefficient matrix should be zero to obtain a...
-
Two laptop manufacturing companies A and B are fierce rivals. A's laptop have a mean life of 4.9 years with a standard deviation of 1.2 years while B's laptop have a mean life of 4 years with a S.D...
-
Pancake Village had sales of $1.5 million with depreciation of $350,000 and other operating costs that ran 35% of sales. They paid $180,000 in dividends with a tax rate of 40% and interest expense of...
-
1. Is it possible to tell from the pedigree whether inheritance of the PSEN1 gene mutation is dominant or recessive? Explain your answer. 2. Is it possible to tell from the pedigree whether...
-
Required Use the Target Corporations annual report in Appendix B to answer the following questions: a. What was Targets debt to assets ratio for its fiscal-year ended February 1, 2014 (2013) and...
-
Consider the following brief descriptions of four companies from different industries. Michaels Stores claims to be the largest arts and crafts specialty retailer in North America. It operates over...
-
Michael Baldwin owns B's Casuals, a company specialising in low-quality, high-priced clothing. The material is purchased from Canada, made up into the finished garments in his own factory, and then...
-
Kevin wanted to make some extra money to help pay for his educational expenses. As he was looking through the classified ads, he saw a job paying $15.00 per hour for part-time bathroom attendant at a...
-
Olivia has written a book titled "America's Fitness Obsession", which discusses various trends in fitness, including specialized fitness classes. The book devotes about ten pages to Fit Forever and...
-
Presently, almost all previous employers won't share anything of substance with potential new employers that call for reference. Only beginning and ending dates of employment are commonly shared. The...
-
The divorce of a paralegal client is contentious. The judge ordered mediation in this instance. As my supervising attorney is unfamiliar with mediation, he requires my assistance. Before the...
-
XYZ Pyt. ltd. and HAL Pyt. ltd. both are partners. XYZ took a loan for which HAL gave a guarantee to the bank. Bank finds out HAL is a $2 dollar company. So, will the guarantee given by HAL can be...
-
For tax year 2015, determine the number of personal and dependency exemptions in each of the following independent situations: a. Leo and Amanda (ages 48 and 46, respectively) are husband and wife...
-
The comparative statements of financial position of Menachem NV at the beginning and end of the year 2019 appear below. Net income of ¬34,000 was reported, and dividends of ¬23,000 were paid...
-
How is the book value of an asset determined?
-
Why is depreciation that has been recognized over the life of an asset shown in a contra account? Why not just reduce the asset account?
-
Why is depreciation that has been recognized over the life of an asset shown in a contra account? Why not just reduce the asset account?
-
On August 1, 2015, Lifters, a gym, sells 5 annual memberships for $1,500 each. What would the entry look like to record the receipt of cash as deferred revenue?
-
Lyme Incorporated issues 3,000 shares of no-par-value common stock for $20 per share. What is the correct journal entry for this transaction?
-
Unsubstantiated Expenses Your client, Randy Ross, owns a business that sells hinges, brackets, and fuses used in the manufacturing of machinery. Randy spends a large amount of time traveling to...
Study smarter with the SolutionInn App