From the partial worksheet in Figure journalize the closing entries for December 31 for G. JacksonCo. G.
Question:
Transcribed Image Text:
G. JACKSON CO WORKSHEET FOR YEAR ENDED DECEMBER 31, 201x Balance Sheet Dr Income Statement Account Titles Dr. Cash Merchandise Inventor Prepaid Advertisin 8800 5200 400 100 epaid Insurance Office Equipment 21200 25100 Accounts Payable G. Jackson, Capital Income Summary Sales Sales Returns and Allowances Sales Discount Purchases Purchases Returns and Allow Purchases Discount Salaries Expense Insurance Expense Utilities Expense Plumbing Expense 5800 600 22600 800 300 08600 5500 Advertising Expense 2800 Salaries Payable 5|2|3101001| 6013101001| 2|2|이기001 114|97|oo 어 (10) 603900 603900 229700 2297100 Net Income
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (15 reviews)
Dec 31 Sales 5 4 9 6 00 Purchase Returns Allowances 3 8 00 Pu...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
From the partial worksheet in Figure, journalize the closing entries for December 31 for G. JacksonCo. G. JACKSON CO. WORKSHEET FOR YEAR ENDED DECEMBER 31, 201X Balance Sheet Income Statement Debit...
-
From the partial worksheet shown below, prepare a formal income statement. PORTER'S PANTS CO. PARTIAL WORKSHEET FOR YEAR ENDED DECEMBER 31, 2012 Income Statement Cr. Account Titles Dr. Income Summary...
-
From the partial worksheet shown below, prepare a formal income state- ment for Kates Pie and Kite Shop of Yarmouth: KATE'S PIE AND KITE SHOP PARTIAL WORKSHEET FOR THE YEAR ENDED SEPTEMBER 30, 2012...
-
X-rays of wavelength 0.0973 nm are directed at an unknown crystal. The second diffraction maximum is recorded when the X-rays are directed at an angle of 23.4 relative to the crystal surface. What is...
-
Bird C from Exercise 21. Find the correlation of the number of lice and mites for the above bird. Bird C Lice Bird D Lice 0 0.21 0.13 0.16 0.06 021 0.23 Mites 0.13 0.07 0.10 0.21 0.03 0.06 2 006 0.10...
-
Define industrial policy. What are some arguments for and against industrial policy?
-
Consider two plates at temperatures of \(600 \mathrm{~K}\) and \(500 \mathrm{~K}\) with emissivities of 0.8 and 0.4 , respectively. The plates are separated by a gray gas that has an absorption...
-
Trotter Enterprises, Inc., has gathered the following data to plan for its cash requirements and short-term investment opportunities for October, November, and December. All amounts are shown in...
-
1. Let be the vector : err =[0.5671; 0.4328%; 0.4555e-01; 0.3305e-02; 0.2707e-04; 0.1660e-7]; In PYTHON, we want to calculate the values of the ratios : errn+1 errn errn+1 errn errn+1 et err 1+5...
-
A heat pump receives heat from a lake that has an average winter time temperature of 6°C and supplies heat into a house having an average temperature of 23°C. (a) If the house loses heat to...
-
Give the category, the classification, and the report(s) on which each of the following appears (for example: Cashasset, current asset, balance sheet): a. Salaries Payable b. Accounts Payable c....
-
From the worksheet in Exercise 12A-3, prepare the assets section of a classified balance sheet. In Exercise12A-3, G. JACKSON CO WORKSHEET FOR YEAR ENDED DECEMBER 31, 201x Balance Sheet Dr Income...
-
Find the local maximum and minimum values and saddle point(s) of the function. If you have three-dimensional graphing software, graph the function with a domain and viewpoint that reveal all the...
-
Who issues warrants? Multiple choice question. Investment bankers Stock exchanges The firm Stock brokers
-
x+5 x-2 Subtract and simplify: x-3 x+7
-
A company's free cash flow is $6,500. The average amount of debt maturing over the next five years is $5,405. What is the cash flow adequacy ratio? a. 20.3% b. 83.2% c. 120.3% d. 16.8%
-
If the net income from an investment is expected to be 75,000; 100,000; 125,000; and 120,000 for the next four year and the investment cost $600,000 what is the average accounting rate of return...
-
K Solve the following equation. 7 1 X- 8 x= (Type an integer or a simplified fraction.)
-
Create a query in Access that uses two tables, the Patient table and the Session table. Add the LastName, FirstName, and SessionDate fields to the query grid. Run the query. How many records are...
-
Imagine that your best friend knows you are taking a psychology course and wonders what psychology is all about. How would you define psychology for your friend? Write an essay on the discipline of...
-
Calculate the average hazard rate for a Brated company during the first year from the data in Table 17.1. Table 17.1 Average Cumulative Issuer-Weighted Default Rates (%), 1981-2020 Time Horizon...
-
On July 1 Henry Corporation issued 10%, 10-year bonds with a face value of $300,000 for $236,310, because the current market rate is 14%. Record the following entries, assuming the interest method is...
-
On January 1 Dixon Corporation sold $400,000 of 10-year sinking fund bonds. The corporation expects to earn 15% on the sinking fund balance and is required to deposit $23,000 at the end of each year...
-
From the following, prepare the long-term liabilities section of a balance sheet: a. Sinking Fund .............$275,000 b. Premium on 13% bonds .......... 7,000 c. Discount on 16% bonds .............
-
O O A Dundas Company's inventory records for its retail division show the following at May 31: (Click the icon to view the accounting records.) At May 31, 10 of these units are on hand. Dundas...
-
4. R got 35% hike in his salary and 20% incentive on sales. If R sold goods worth Rs. 850 last year and the salary was Rs 70, then how much more does he earn this year with sales of Rs.900?
-
Teachers salaries have not been increasing as fast as the pay in many other types of work. Explain why you think this might be true. use graph of the supply and demand for teacher's labor to help...
Study smarter with the SolutionInn App