March 31, 2014, adjusted trial balance for Brenner Climbing Adventures has been alphabetized as follows: Required Journalize
Question:
Required
Journalize the closing entries.
Transcribed Image Text:
No. Account Debit Credit $ 2,600 168 Accumulated depreciation, equipment.... 300 Becky Brenner, capital ,000 34,700 31,200 9,600 6,500 1,100 101 Cash 606 Depreciation expense, equipment... . 1,875 120 10,000 633 Insurance expense... 19,000 7,500 64,515 126 Supplies 637 Supplies expense 270 1,800 2,300 9,100 2,150 Totals... $136,915 $136,915
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
2014 Closing entries March 31 Revenues 64515 Income Summar...View the full answer
Answered By
Fahmin Arakkal
Tutoring and Contributing expert question and answers to teachers and students.
Primarily oversees the Heat and Mass Transfer contents presented on websites and blogs.
Responsible for Creating, Editing, Updating all contents related Chemical Engineering in
latex language
4.40+
8+ Reviews
22+ Question Solved
Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
Question Posted:
Students also viewed these Accounting questions
-
The adjusted trial balance for Ocean Realty, Inc., at March 31, 2012, follows: Requirements 1. Prepare Ocean Realtys income statement and statement of retained earnings for the year ended March 31,...
-
The March 31, 2014, adjusted trial balance for sopik Refrigeration Repairs is shown below with accounts in alphabetical order. 1 $5,000 of the long-term note payable is due during the year ended...
-
The December 31, 2014, adjusted trial balance for Eagle Consulting Services has been alphabetized as follows: Required Prepare the closing entries. Account Debit Credit No 201 Accounts payable...
-
What is the main reason the Bike Company needs to report figures separately for its various areas of operation? Choose the correct answer. A Sales requires these figures to plan sales activities. B...
-
What were the main challenges Security First was facing?
-
What is the CAPM? RsRf+Bs (Rm - Rf) WACC = V(levered) V(unlevered) + TCB Rs R0+ (BSL) (R0 - RB) ORS RO+ (B/SL) (RB - R0)
-
Calculate the mean for each of the following sets of data: a. 1, 1, 2, 3, 3 b. 1, 4, 4, 5, 6, 7, 8 c. 47, 56, 62, 69, 70, 73 d. .75, .23, .48, .60, .98, .65, .08, .12., .39 e. 11.02, 13.67, 17.39,...
-
With a smoothing constant of = 0.2, equation (6.2) shows that the forecast for the 13th week of the gasoline sales data from Table is given by F13 = 0.2Y12 + 0.8F12. However, the forecast for week...
-
What is the TOTAL PRODUCTION COST? Budgeted output for the year 9800 units Standard details for one unit: Direct materials 40 square metres at 5.30 per square metre Direct wages: Bonding department...
-
Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet Following are the income statements and balance sheets of Best Buy Co., Inc. Income Statement, Feb. 26, 2011 Feb. 27,...
-
Using the adjusted trial balance in Problem 6A, prepare the income statement and statement of changes in equity for the year ended December 31, 2014, and the classified balance sheet at December 31,...
-
Using the information in Problem 8A, prepare an income statement and a statement of changes in equity for the year ended March 31, 2014, and a classified balance sheet at March 31, 2014. The owner...
-
Bearing in mind that Section 5.5.2 of this chapter was written in 2015, rewrite it in the context of the time when you read this book. 5.5.2 Influence of the IASB The importance of the IASB's work...
-
this is an outline for an informative speech, by using the outline can you help me create an actual informative speech. Subject: The significance of getting a perfect credit score. General Purpose:...
-
Credit card A charges 16.25% interest, compounded continuously. Credit card B charges 16.3% interest, compounded monthly. What is the effective rate of credit card A? % What is the effective rate...
-
Suppose a country in autarky ( No free trade ) has the supply curve Qs = 2 P + 1 0 ( for P > = 0 that is , you should disregard the part of the supply curve that is below the horizontal axis )...
-
What is the total flotation cost of Company ABC in the following situation the underwriter has sold 50,000 shares at an IPO price of $50, the gross underwriting spread is 5% the legal fees is 70,000...
-
How much cash will DEF Company raise in the following situation the underwriter has sold 50,000 shares at an IPO price of $50, the gross underwriting spread is 5% the legal fees is 70,000 the share...
-
What is the purpose of the Consumer Products Safety Act?
-
Smthe Co. makes furniture. The following data are taken from its production plans for the year. Required: 1. Determine the hazardous waste disposal cost per unit for chairs and for tables if costs...
-
Match the terms below with their definitions. 1. Job 2. Job order production 3. Job lot 4. Cost accounting system 5. Target cost 6. General accounting system a. The expected selling price of a job...
-
The left column lists the titles of documents and accounts used in job order cost accounting. The right column presents short descriptions of the purposes of the documents. Match each document in the...
-
The left column lists the titles of documents and accounts used in job order cost accounting. The right column presents short descriptions of the purposes of the documents. Match each document in the...
-
4. The water in Earth's atmosphere blocks most of the infrared waves coming from space. In order to observe light of this wavelength, the Kuiper Airborne Observatory has been developed. The...
-
What amount of gain should Pharoah recognize on the exchange assuming lack of commercial substance?
-
If R1=7 Q, R2=3 Q, R3=9 Q, V= 12 V, and V2=8 V. Find the current (in A) that pass through R. R R R V V 2 +
Study smarter with the SolutionInn App