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The worksheet for Norman Company has been completed The worksheet for Norman Company has been completed through the adjusted trial balance. You are ready to extend each amount to the appropriate financial statement column. Indicate for each account, the financial statement column to which the account should be extended by placing a check mark () in the appropriate column. ———————ââ ...

Other / Other 31 Mar 2016

East Carolina Company are presented Selected worksheet data for East Carolina Company are presented below. Adjusted Account Titles Trial Balance Trial Balance Dr. Cr. Dr. Cr. Accounts Receivable ? 31,000 Prepaid Rent 24,000 20,000 Supplies 7,000 ? Accumulated Depreciation 12,000 ? Salaries Payable ? 8,000 Service Revenue 88,000 99,000 Rent Expense ? Depre ...

Other / Other 31 Mar 2016

An examination of the accounts of Freeman Company An examination of the accounts of Freeman Company for the month of October revealed the following errors after the transactions were journalized and posted. Prepare correcting entries for each of the above assuming the erroneous entries are not reversed. (a) A check for $700 was issued for goods previously purchased on account. The bookkeeper debited Accounts Receivable and credited ...

Other / Other 31 Mar 2016

Prepare a retained earnings statement for the month of April The income statement of Hall Marine Repairs is as follows: HALL MARINE REPAIRS Income Statement For the Month Ended April 30, 2011 Revenue Repair Revenue ₤7,500 Expenses Salaries Expense ₤3,400 Depreciation Expense 350 Utilities Expense 400 Insurance Expense 600 Supplies Expense 1,050 Total Expenses 5,800 Net Income ₤1,700 ...

Other / Other 31 Mar 2016

The following items are taken from the adjusted trial balance The following items are taken from the adjusted trial balance of Highlander Company for the month ending July 31, 2011: Accounts payable $ 2,000 Accounts receivable 3,000 Accumulated depreciation – equipment 8,000 Cash 2,200 Share capital-ordinary 22,000 Depreciation expense 2,000 Equipment 54,000 Retained earnings, 7/1/11 30,000 Service revenue 33,000 Suppli ...

Other / Other 31 Mar 2016

A purchase of supplies on account At Outersanctum Company, the following errors were discovered after the transactions had been journalized and posted. Prepare the necessary correcting entry for each of the following. a. A payment of $5,000 for salaries was recorded as a debit to Supplies Expense and a credit to Cash. b. A purchase of supplies on account for $1,000 was recorded as a debit to Equipment and a credit to Accounts Payable. ...

Other / Other 31 Mar 2016

The worksheet for Boone Mailing Center The worksheet for Boone Mailing Center appears below. Using the adjustment data below, complete the worksheet. Add any accounts that are necessary. Adjustment data: (a) Prepaid rent expired during August, $2. (b) Depreciation expense on equipment for the month of August, $8. (c) Supplies on hand on August 31 amounted to $6. (d) Salaries expense incurred at August 31 but not yet paid amounted t ...

Other / Other 31 Mar 2016

Following accounts would have balances on a post-closing trial balance Identify which of the following accounts would have balances on a post-closing trial balance. (1) Service Revenue (2) Income Summary (3) Notes Payable (4) Interest Expense (5) Cash Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help ...

Other / Other 31 Mar 2016

An examination of the accounts of Zin Company An examination of the accounts of Zin Company for the month of June revealed the following errors after the transactions were journalized and posted. Prepare correcting entries for each of the above assuming the erroneous entries are not reversed. 1. A collection of $750 from R. Joseph, a customer on account, was debited to Cash $750 and credited to Service Revenue, $750. 2. A payment fo ...

Other / Other 31 Mar 2016

Prepare the closing journal entries for Blowing Rock Stage Theatre At March 31, account balances after adjustments for Blowing Rock Stage Theatre are as follows: Account Balances Accounts (After Adjustment) Cash $ 6,000 Concession Supplies 4,000 Theatre Equipment 50,000 Accumulated Depreciation—Theatre Equipment 12,000 Accounts Payable 5,000 Share Capital-Ordinary 4,000 Retained Earnings 16,000 Dividends 12,000 Ticket ...

Other / Other 31 Mar 2016