Consider the data in Figure for Daisys Dance Studio: Adjustment Data a. Insurance expired, $100. b. Dance
Question:
Adjustment Data
a. Insurance expired, $100.
b. Dance supplies on hand, $1,100.
c. Depreciation on dance equipment, $2,000.
d. Salaries earned by employees but not to be paid until October, $1,000.
Your task is to do the following:
1. Prepare a worksheet.
2. Journalize adjusting and closingentries.
Transcribed Image Text:
DAISY'S DANCE STUDIO TRIAL BALANCE SEPTEMBER 30, 201X Dr 60 00 11000l00 Cr Cash Accounts Receivable Prepaid Insurance Dance Supplies Dance Equipment 0 10200l00 Accounts Pavable D. Dalia, Capital D. Dalia, Withdrawals Dance Fees Earned Salaries Ex Tel Advertising Expense 45 500 40000 2180000 Ex 95510 000 9550000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (16 reviews)
1 DAISYS DANCE STUDIO WORKSHEET FOR MONTH ENDED SEPTEMBER 30 201X 2 DAISYS DANCE STUDIO GENERAL JOUR...View the full answer
Answered By
Michael Owens
I am a competent Software Engineer with sufficient experience in web applications development using the following programming languages:-
HTML5, CSS3, PHP, JAVASCRIPT, TYPESCRIPT AND SQL.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
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
-
The data in Figure 12.14 suggest an unemployment coefficient of approximately -1.0 in the Phillips curve. That is, the Phillips curve is n- n(-1) = -(1.0)(U - U*) . Assume the natural rate, U*, is 5...
-
Consider the data in Table 6.11, where P(ut (t, T1) is the price of a 90-day Eurodollar futures contract expiring on April 14, 2008; ((t, T1, T2) is the time t forward rate for 90 day LIBOR at April...
-
Consider the data in Problem 18-1. Assume that Reynoldss tax rate is 40% and that the equipments depreciation would be $100 per year. If the company leased the asset on a 2-hear lease, the payment...
-
Assess the following statement: Although many investors may be irrational, it is unlikely that over time they will behave irrationally in exactly the same way such as always buying stocks the day...
-
A molecule leaves a cell at rate = 0.3/s. What is the probability it has left by the end of the third second? By the end of the first millisecond? Compare your last answer with the definition of...
-
Dr. Nelson teaches a few morons. (Txy: x teaches y; Mx: x is a moron) Translate the following statements into symbolic form.
-
If the probability is 0.40 that steam will condense in a thin-walled aluminum tube at 10 atm pressure, use the formula for the binomial distribution to find the probability that, under the stated...
-
On January 1, 2011, Burleson Corporation's projected benefit obligation was $30 million. During 2011 pension benefits paid by the trustee were $4 million. Service cost for 2011 is $12 million....
-
a. Received $62,250 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. b. Purchased 10 new computer servers for $34,200 on 1/2; paid $15,300...
-
For the case study, answer the following questions. 5. Over time, should Unilever combine the "more germs" and "faster kill" claims into positioning Lifebuoy? 6. it is unlikely that competitors would...
-
From the following accounts (not in order), prepare a post-closing trial balance for Winter Co. on October 31,201X. Accounts Rc Legal Supplies Office Equipment Repair Expense Salaries Expense 28,500...
-
Enter the beginning balance in each account in your working papers from the Trial Balance columns of the worksheet (Figure). From that worksheet, (1) Journalize and post adjusting and closing entries...
-
What is tax-favored income? Briefly describe the following forms of income excluded from taxation. a. Tax-free municipal bond interest b. Treasury and government agency issues c. Sale of a personal...
-
You are in charge of planning a new investment for your firm that will cost $850,000 today. The investment is expected to produce a cash flow of $450,000 in year one. Each of the following years the...
-
1. Some people think that profit maximization should be the goal of finance, where some other students seems Wealth maximization must be the goal of finance. What is your opinion on that? List out 5...
-
How do you '' sell yourself ''? I mean.... You personally. What do you do that makes you a defining difference maker in the art of sales? Your explanation can be the way you dress, talk, prepare, etc
-
Explain the different alternatives for short term financing and the criteria applied in the selection process?
-
The foundation for a cylindrical water tank is a cylinder 27 ft in diameter and 3 ft high. How many cubic ft of concrete are needed to build the foundation?
-
Analyze a conflict from your own organizational experience to identify which of Thomas approaches, identified in Illustration 5.9 , was used? If the conflict is still happening, which of Thomas...
-
Which task is performed by a book-keeper? A. Analysing the trading results B. Entering transactions in the ledger C. Preparing year-end financial statements D. Providing information for...
-
A relationship is a natural business association between entities. What is the relationship between student and teacher? Does it depend on how many classes a student can take or how many classes a...
-
Journalize the following transactions: a. Sold merchandise on account to Weis Co., invoice no. 10, $32. b. Received check from Phair Co., $1000, less 2% discount. c. Cash Sales, $99. d. Issued credit...
-
From the following, prepare a schedule of accounts receivable for Pine Co. for May 31,201X. Accounts Receivable Subsidiary Ledger James Co. Dr. Cr. General Ledger Accounts Receivable Dr. Cr. 5/31 GJ1...
-
From the general journal in Figure, record to the accounts receivable subsidiary ledger and post to the general ledger accounts asappropriate. General Journal Date 201X Nov. 18 Accounts Receivable,...
-
1. Negative impact of blockchain technology on taxation in the accounting profession. 2.what are the factors that influence an organisations work practice and expectations of an accounting...
-
What do you think of modeling an entire culture on just six dimensions? Are there aspects of the culture that are not covered by these dimensions? What do you think of the mere concept of culture as...
-
A business organisation is a system. It consists of many subsystems, such as departments, divisions, process teams and other workgroups. Organisations are designed for the purpose of creating...
Study smarter with the SolutionInn App