Update the trial balance for Ling?s Landscaping Service (Figure 4.26 ) for January 31, 201X. Adjustment Data
Question:
Update the trial balance for Ling?s Landscaping Service (Figure 4.26 ) for January 31, 201X.
Adjustment Data to Update the Trial Balance
a. Rent expired, $500.
b. Landscaping supplies on hand (remaining), $150.
c. Depreciation expense, landscaping equipment, $250.
d. Wages earned by workers but not paid or due until February, $725.
Your task is to prepare a worksheet for Ling?s Landscaping Service for the month of January.
LING'S LANDSCAPING SERVICE TRIAL BALANCE JANUAY 31, 201X Account Titles Dr. Cr. Cash in Bank 370000 Accounts Receivable 100000 200000 127500 Prepaid Rent Landscaping Supplies Landscaping Equipment 220000 Accumulated Depreciation, Landscaping Equipment 88000 Accounts Payable 80000 A. Ling, Capital 494000 Landscaping Revenue 520000 Heat Expense 32500 Advertising Expense Wage Expense 6000 126000 Totals 1182000 118 2000
Step by Step Answer:
Account Titles Cash in bank Accounts Receivable Prepaid Rent Landscaping Supplies Land...View the full answer
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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 Business questions
-
Update the trial balance for Lajoie's Landscaping Service (Figure 4.26) for January 31, 201X. Adjustment Data to Update the Trial Balance a. Rent expired, $300. b. Landscaping supplies on hand...
-
Given the trial balance in Figure and adjustment data of Lans Landscaping Service, your task is to prepare a worksheet for the month of October. Adjustment Data to Update the Trial Balance a. Rent...
-
Update the trial balance for Lancing Landscaping Service (Figure) for March 31, 201X. Adjustment Data to Update the Trial Balance a. Rent expired, $350. b. Landscaping supplies on hand (remaining),...
-
The Cano Company is decentralized, and divisions are considered investment centers. Cano has one division that manufactures oak dining room chairs with upholstered seat cushions. The Chair Division...
-
When should inventory be valued at less than cost?
-
What is the conversion (or stock) value of each of the following convertible bonds? a. A $1,000-par-value bond that is convertible into 25 shares of common stock . The common stock is currently...
-
Using the summarized data in Table 2, construct a relative frequency distribution. Approach Add all the frequencies, and then use Formula (1) to compute the relative frequency of each category of...
-
1. What brand development strategy is Mars undertaking? 2. Assume the company expects to sell 300 million ounces of M&M Premiums within the first year after introduction but expects that half of...
-
The finite automata FA1, and FA2 are shown below in Fig. 1 and Fig. 2 respectively. They accept the respective languages L1 and L2. a, b x2 FX1 b Figure 1: FA1: The FA accepting the language L.
-
Joe Romano found out on a business trip to Taiwan how close a one-syllable slip of the tongue can come to torpedoing a deal....Mr. Romano, a partner of High Ground, Inc., an emerging technology...
-
Figure 28.26 shows the phasor diagram for an RLC circuit.(a) Is the driving frequency above or below resonance?(b) Complete the diagram by adding the applied voltage phasor, and from your diagram...
-
An AC voltage of fixed amplitude is applied across a series RLC circuit. The components are such that the current at half the resonant frequency is half the current at resonance. Show that the...
-
Haugen Enterprises has an equity multiplier of 2.5. What is the firms debt ratio?
-
All values USD millions. Sales/Revenue Cost of Goods Sold (COGS) incl. D&A COGS excluding D&A Depreciation & Amortization Expense Depreciation Amortization of Intangibles Gross Income SG&A Expense...
-
The Department of Health has announced its plans for a project to build a new hospital in Khayelitsha. In your view, are all the people of Cape Town stakeholders in this project? Explain your reasons.
-
During 2015, Franklin, who is single, made the following gifts (all outright gifts, no trusts): Property worth $1,264,000 to his daughter $3,014,000 cash to his favorite grandchild Real estate worth...
-
WW Company Limited ("the Company") is a Hong Kong corporation engaged in the retails of furniture with various chain stores in Hong Kong. The Company's statement of profit or loss for the year ended...
-
Air Canada Robert Milton had been fascinated by flying ever since childhood and dreamed of running an airline company. But as he grew up and entered the industry, Milton came to see how poorly the...
-
A research analyst examines annual returns (in percent) for Industry A, Industry B, and Industry C, as shown in the accompanying table. Industry A.................... Industry...
-
As long as we can't lose any money, we have a risk-free investment." Discuss this comment. Q2: Both investing and gambling can be defined as "undertaking risk in order to earn a profit." Explain how...
-
On May 1, 202X, Maltby Corporation issued $925,000 of 12%, 25-year bonds to lenders at par (100). Interest is to be paid semiannually on November 1 and May 1. Journalize the following entries: a....
-
On May 1, 202X, Santos Corporation issued $600,000 of 6%, 20-year bonds at 107. The interest is payable on November 1 and May 1. The premium is amortized by the straight-line method. Prepare an...
-
On May 1, 202X, Chang Corporation issued $400,000 of 12%, 20-year bonds at 109. The interest is payable on November 1 and May 1. The premium is amortized by the straight-line method. Prepare an...
-
PQR Supermarket purchases a specific type of cereal throughout the month of February 2023. The purchase and sales data for the month are as follows: February 1st: Beginning inventory - 100 units at...
-
in forecasting business figures for the coming year, Ling- Poi's owner is including planned purchases of $22000, and an initial markup percentage of 53%. What is Ling-Poi's cost of purchases figure?
-
How prepare a cover letter for accounting and payroll job posting? What include that responds specifically to the key information in accounting and payroll posting?
Study smarter with the SolutionInn App