The following trial balance for Armadillo Ranch Company pertains to December 31, 2018, which is the...
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The following trial balance for Armadillo Ranch Company pertains to December 31, 2018, which is the end of the company's year-long accounting period: (Click the icon to view the unadjusted trial balance.) Requirement 1. Journalize Armadillo Ranch Company's adjusting entries at December 31, 2018. Key the entries by letter. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Supplies on hand at year end, $1,700. Date (a) Dec 31 The data needed to adjust the entries include: (Click the icon to view the adjusting entries data.) Read the requirements. Journal Entry Accounts and Explanation Debit Credit Armadillo Ranch Company Trial Balance December 31, 2018 Cash Accounts receivable Supplies Building Accumulated depreciation-building Furniture and fixtures Accumulated depreciation-furniture and fixtures Accounts payable Salary payable Unearned service revenue Income tax payable Common stock Retained earnings $ 204,000 290,000 15,000 500,000 75,000 $ 160,000 55,000 370,000 49,000 130,000 257,000 Dividends Service revenue Salary expense Supplies expense Depreciation expense-building Depreciation expense-furniture and fixtures Income tax expense Miscellaneous expense Total 25,000 181,000 284,000 15,000 $ 1,305,000 $ 1,305,000 Requirements 1. 2. The ledger accounts with their unadjusted balances have been opened for you. Post the adjusting entries to the accounts. Prepare a worksheet for the adjusted trial balance. 3. 4. Journalize Armadillo Ranch Company's adjusting entries at December 31, 2018. Key the entries by letter. Prepare the income statement, the statement of retained earnings, and the balance sheet. The following trial balance for Armadillo Ranch Company pertains to December 31, 2018, which is the end of the company's year-long accounting period: (Click the icon to view the unadjusted trial balance.) Requirement 1. Journalize Armadillo Ranch Company's adjusting entries at December 31, 2018. Key the entries by letter. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Supplies on hand at year end, $1,700. Date (a) Dec 31 The data needed to adjust the entries include: (Click the icon to view the adjusting entries data.) Read the requirements. Journal Entry Accounts and Explanation Debit Credit Armadillo Ranch Company Trial Balance December 31, 2018 Cash Accounts receivable Supplies Building Accumulated depreciation-building Furniture and fixtures Accumulated depreciation-furniture and fixtures Accounts payable Salary payable Unearned service revenue Income tax payable Common stock Retained earnings $ 204,000 290,000 15,000 500,000 75,000 $ 160,000 55,000 370,000 49,000 130,000 257,000 Dividends Service revenue Salary expense Supplies expense Depreciation expense-building Depreciation expense-furniture and fixtures Income tax expense Miscellaneous expense Total 25,000 181,000 284,000 15,000 $ 1,305,000 $ 1,305,000 Requirements 1. 2. The ledger accounts with their unadjusted balances have been opened for you. Post the adjusting entries to the accounts. Prepare a worksheet for the adjusted trial balance. 3. 4. Journalize Armadillo Ranch Company's adjusting entries at December 31, 2018. Key the entries by letter. Prepare the income statement, the statement of retained earnings, and the balance sheet. The following trial balance for Armadillo Ranch Company pertains to December 31, 2018, which is the end of the company's year-long accounting period: (Click the icon to view the unadjusted trial balance.) Requirement 1. Journalize Armadillo Ranch Company's adjusting entries at December 31, 2018. Key the entries by letter. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Supplies on hand at year end, $1,700. Date (a) Dec 31 The data needed to adjust the entries include: (Click the icon to view the adjusting entries data.) Read the requirements. Journal Entry Accounts and Explanation Debit Credit Armadillo Ranch Company Trial Balance December 31, 2018 Cash Accounts receivable Supplies Building Accumulated depreciation-building Furniture and fixtures Accumulated depreciation-furniture and fixtures Accounts payable Salary payable Unearned service revenue Income tax payable Common stock Retained earnings $ 204,000 290,000 15,000 500,000 75,000 $ 160,000 55,000 370,000 49,000 130,000 257,000 Dividends Service revenue Salary expense Supplies expense Depreciation expense-building Depreciation expense-furniture and fixtures Income tax expense Miscellaneous expense Total 25,000 181,000 284,000 15,000 $ 1,305,000 $ 1,305,000 Requirements 1. 2. The ledger accounts with their unadjusted balances have been opened for you. Post the adjusting entries to the accounts. Prepare a worksheet for the adjusted trial balance. 3. 4. Journalize Armadillo Ranch Company's adjusting entries at December 31, 2018. Key the entries by letter. Prepare the income statement, the statement of retained earnings, and the balance sheet. The following trial balance for Armadillo Ranch Company pertains to December 31, 2018, which is the end of the company's year-long accounting period: (Click the icon to view the unadjusted trial balance.) Requirement 1. Journalize Armadillo Ranch Company's adjusting entries at December 31, 2018. Key the entries by letter. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Supplies on hand at year end, $1,700. Date (a) Dec 31 The data needed to adjust the entries include: (Click the icon to view the adjusting entries data.) Read the requirements. Journal Entry Accounts and Explanation Debit Credit Armadillo Ranch Company Trial Balance December 31, 2018 Cash Accounts receivable Supplies Building Accumulated depreciation-building Furniture and fixtures Accumulated depreciation-furniture and fixtures Accounts payable Salary payable Unearned service revenue Income tax payable Common stock Retained earnings $ 204,000 290,000 15,000 500,000 75,000 $ 160,000 55,000 370,000 49,000 130,000 257,000 Dividends Service revenue Salary expense Supplies expense Depreciation expense-building Depreciation expense-furniture and fixtures Income tax expense Miscellaneous expense Total 25,000 181,000 284,000 15,000 $ 1,305,000 $ 1,305,000 Requirements 1. 2. The ledger accounts with their unadjusted balances have been opened for you. Post the adjusting entries to the accounts. Prepare a worksheet for the adjusted trial balance. 3. 4. Journalize Armadillo Ranch Company's adjusting entries at December 31, 2018. Key the entries by letter. Prepare the income statement, the statement of retained earnings, and the balance sheet.
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Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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