The trial balances before and after adjustment for Matthews Company at the end of its fiscal year
Question:
The trial balances before and after adjustment for Matthews Company at the end of its fiscal year are presented on the next page.
InstructionsPrepare the adjusting entries that weremade.
Transcribed Image Text:
MATTHEWS COMPANY Trial Balance August 31, 2012 Before After Adjustment Adjustment Dr. Dr. Cr. Cr. Cash $10,400 $10.400 10,800 Accounts Receivable 8,800 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable 2.300 900 4,000 2.500 14,000 14,000 $ 3,600 $ 4.500 5,800 5.800 -0- 1.100 Unearned Rent Revenue 1.500 600 Owner's Capital 15,600 15,600 Service Revenue 34,000 36.000 Rent Revenue 11.000 11,900 Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense 17,000 18,100 -0- 1.400 15,000 15,000 1,500 900 $71.500 $75.500 $71.500 $75,500
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (15 reviews)
Aug 31 31 31 Accounts Receivable Service Revenue Supplies Expens...View the full answer
Answered By
Emel Khan
I have the ability to effectively communicate and demonstrate concepts to students. Through my practical application of the subject required, I am able to provide real-world examples and clarify complex ideas. This helps students to better understand and retain the information, leading to improved performance and confidence in their abilities. Additionally, my hands-on approach allows for interactive lessons and personalized instruction, catering to the individual needs and learning styles of each student.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
The trial balances before and after adjustment for Turnquist Company at the end of its fiscal year are presented below. Instructions Prepare the adjusting entries that weremade. TURNQUIST COMPANY...
-
The trial balances before and after adjustment for Matusiak Company at the end of its fiscal year are presented below. Instructions Prepare the adjusting entries that weremade. Matusiak Company Trial...
-
The trial balances before and after adjustment for Matusiak OAO at the end of its fiscal year are presented below. Instructions Prepare the adjusting entries that were made. Matusiak OAO Trial...
-
Show that the rectangular box (including the top and bottom) with fixed volume V = 27 m 3 and smallest possible surface area is a cube (Figure 25). X y Z
-
Describe some of the informal rules of the game that govern what type of individual an MNE can appoint to be the head of a foreign subsidiary.
-
You are secretary to a charity organisation. Insert aa letter, for general distribution, appealing for funds. You may use the name of an existing charity that you know about for example Child...
-
There is a useful approximation to the certainty equivalent that is easy to derive. A second-order expansion near $\bar{x}=\mathrm{E}(x)$ gives \[U(x) \approx...
-
The following selected financial data pertain to four unidentified companies: This financial information pertains to the following companies: a. Cable TV company b. Grocery store c. Accounting firm...
-
Smitty had a duty of select answerto HaileyThis duty required Smitty to act as select answer would act. A reasonable accountant select answer familiar with tax rules and regulations when asked to...
-
On March 10, 2013, Elizabeth, a college professor, purchased a house for $300,000. She did not move into the house until August 8, 2013. On August 1, 2014, she accepted a position as a visiting...
-
Selected accounts of Tabor Company are shown below. InstructionsAfter analyzing the accounts, journalize (a) The July transactions and (b) The adjusting entries that were made on July31. Supplies...
-
The adjusted trial balance for Matthews Company is given in E3-13. Instructions Prepare the income and owners equity statements for the year and the balance sheet at August 31.
-
Every map of the United States shows that Alabama is situated on the Pacific coast. Therefore, Alabama must be a western state. The following arguments are inductive. Determine whether each is strong...
-
Show the behavior of the following circuit with a truth table. A B
-
Given FSA is for the language which starts with "ab" and ends on "ba". Find the closure of the given FSA. Z5 ZA a Z2 -Z1 a b a Z3 a, b +26
-
The cost of pollution control should not be borne by governments or corporations alone. However, business who take the initiative to tackle environment pollution would first have to do a cost benefit...
-
Based on the graph, starting from equilibrium at interest rate 1 and income Y, an increase in the money supply would generate the new equilibrium combination of interest rate and income: | a. 12, Y2....
-
The integration of Artificial Intelligence (AI) into accounting processes has ushered in a transformative era, revolutionizing the way financial data is handled, analyzed, and reported. AI...
-
The NYSE requires that companies listed on its exchange publicly make available a code of conduct. A. True B. False
-
The following cost information was provided to you for analysis: September 12,000 Units Produced Costs: TIC TAC TOE TING August 10,000 P80,000 70.000 60.000 50,000 How much is the fixed cost per...
-
U.S. forestland has been a constant 755 million acres for the past century, but the number of trees has increased by 20 percent since 1970, the volume of wood has doubled since 1953, and the United...
-
The ledger of Dey Company includes the following accounts. Explain why each account may require adjustment. (a) Prepaid Insurance (c) Unearned Revenue (b) Depreciation Expense (d) Interest Payable
-
Nunez Company accumulates the following adjustment data at December 31. Indicate (a) The type of adjustment (prepaid expense, accrued revenues and so on), and (b) The status of accounts before...
-
Windsor Advertising Companys trial balance at December 31 shows Advertising Supplies $6,700 and Advertising Supplies Expense $0. On December 31, there are $2,700 of supplies on hand. Prepare the...
-
Exploring Variable Length Parameter Lists The file Parameters.java contains a program to test the variable length method average from Section 7.5 of the text. Note that average must be a static...
-
How would I write a test case for the following steps so that the test cases run properly @Test void dequeueItemsHasRightValuesAndSize() { Queue testQ = new Queue (); int result; enqueueValues(testQ,...
-
Analyse the quality of the Java codes below public static boolean leap(int y) { String tmp = String.valueOf(y); if (tmp.charAt(2) == '1' || tmp.charAt(2) == '3' || tmp.charAt(2) == 5 || tmp.charAt(2)...
Study smarter with the SolutionInn App