Journalize adjusting entries and prepare a trial balance ( BackOpen in SafariOn January 31, 2020 Express Lane Company completed following adjusting entries:• Expiration of prepaid insurance for one month is $900• Depreciation of equipment for the month, $4,500• Supplies on hand, $12,000• Unearned sales revenue earned is, $12,000.• Accrued salary of the January 2020 is $16,000 which will be paid on the 5thof February.Requirements:27MessagesHomeCoursesTasksCalendar ll vodafone TRC 12:15%69( BackOpen in SafariTrial Balance of Express Lane Company'saccounts as of January 31 2020 given asfollows:Trial BalanceAccount TitleDebitCreditCash243650Accounts Receivable24800Supplies20000Prepaid Insurance10800Inventory14800Equipment46000Accumulated Depreciation-Equipment20000Accounts Payable56000Salary PayableUnearned Sales Revenue15000Capital25090Withdrawals18000Sales Revenue96000Sales Returns& Allowances7500Sales Discounts1650Cost of Goods Sold50700Insurance ExpenseDepreciation Expense-EquipmentSupplies ExpenseSalary ExpenseTotal 43790043790On January 31, 2020 Express Lane Companycompleted following adjusting entries:27HomeCoursesTasksCalendarMessages

Trail Balance:- Trail balance helps to check the arithmetic accuracy of books of accounts. Trail…

Answered: ournalize adjusting entries and prepare…

Business

Accounting

ournalize adjusting entries and prepare a trial balance

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Th/r olqj8ar9 Tutorial 9 Submission date: 18 January 2021 before 12.00pm 1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Particulars Debit Credit RM RM Capital 1 February 2019 Vehicles at cost 101,430 Equipment at cost Purchases and sales 35,000 80,000 284,680 503,520 Provision for depreciation at 1 February 2019: Vehicles 21,000 35,000 650 Equipment Return inward and return outwards Finance expenses Stock at 1 February 2019 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Debtors and creditors Cash at bank 1,340 1,220 25,570 4,930 7,420 21,940 23,550 200 95,370 1,240 83,210 14,880 680.550 680.550 18,950 TOTAL Additional information as at 31 January 2020. No. Particulars i. Stock valued at i. Insurance prepaid iii, Goods taken from stock for own use iv. Wages due v. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: RM 29,750 340 420 2,400…
Pachel corpolatian re Ports the per teining vecevicable Days Past Due 3-60 followinginfamethon to iti accounts cuNent 1-30 ever90 $2500 1200. $2000 Jhe companys cradit depaltment Plovided the following statement estima ter vegarding the pocent of occounts enfc ted to eventuallyy be writtenoff form. each category current veceveiNable receivables -30 days past due listed aboue aut standing rELENables 31-ho days past due 16 feceivables 6L-G0 days Pajt due receivable Cuer 20 days due. 90 Recold the company's uncollectible account afsuming it hal expense fredit balance for in its llawance Deuhtful accounts pror to the necessaty maling endjustment.
O NWP Assessiment Player U Appli X education.wiley.com/was/u/v2/assessment-player/indehtmi?launchid=18601d98-edio 4163-98b4-b319630510e/question/8 Hw 1 Question 9 of 9 View Policies Current Attempt in Progress The following information relates tD Cullumber Weigel Co, for the year 2020. Retained earnings, January 1.2020 147,000 Advertsing pense $6.300 Dividends paid during 2020 21.000 Rentepensd 36,400 Service revenue 222,600 Ualities expense 10,850 Salaries and wages expense 105.700 Other conpréhensive income 1610 After analyzing the data, prepare an income staterment for the year 2020, CULLUMBER WEIGEL CO. Income Statement e here to search DOLL F12 Hom SysR F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 144 @ 23 & 2 3 4 6 7 9 W E R T Y U P 4 5 6
Jaez Corporation is in the process of going through a reorganization. As of December 31, 2020, the company's accountant has determined the following information although the company is still several months away from emerging from the bankruptcy proceeding. ts Book Value Fair Value Assets Cash $ 23,000 45,000 140,000 220,000 154,000 $ 23,000 47,000 210,000 260,000 157,000 eBook Inventory Land Buildings Equipment Print ferences Allowed Claims Expected Sett lement Liabilities as of the date of the order for relief Accounts payable Accrued expenses Income taxes payable Note payable (due 2023, secured by land) Note payable (due 2025) Liabilities since the date of the order for relief Accounts payable Note payable (due 2022) Stockholders' equity Common stock Deficit $ 123,000 $ 20,000 30,000 22,000 100,000 170,000 4,000 18,000 100,e00 80,000 $ 60,000 110,000 200,000 (233,000) Prepare the balance sheet for Jaez Corporation. (Neative amounts should be indicated bv a minus sian.) nc Graw lill…
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.ull Airtel TZ 3G 10:08 @ 12% I 4. The trial balance below was extracted from the books of CiciCaca Enterprise as at 31 Mac 2020: Particulars Debit Credit RM RM 377,000 432,000 102,000 625,000 950,000 Purchases and Sales Plant and machinery Vehicles Land and building Accumulated depreciation: Plant and machinery Vehicles Discount allowed and discount received Returns inwards and returns outwards Carriage inwards Carriage outwards Custom duties Drawings Provision for doubttul debts Salaries and wages Electricity and water Rent and rates Insurance Mortgage on land and building Repairs and maintenance Commission earned Accounts receivables Account payable Inventory-1 April 2019 Cash at bank Capital 175,000 39,000 760 12.200 1,500 44,000 4,700 5,500 15,400 3,600 2,000 300,000 65,000 4,000 55,000 450,000 6,300 95,000 187,000 166,500 51,000 41,100 429,640 2,320,100 2,320,100 TOTAL The following additional information is to be taken into consideration: i. Increase in provision for doubtful…
3 Question W Marshal E OM83600 X (3) Slow Awaken P instructi ezto mheducation.com/ext/map/index.html?_con%3con&external_browser%3D0&launchUrl=https%253A%252F%252Flms.mhedu nwk i Saved Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) 2020 2019 2818 Current assets $ 764 $ 981 1, 931 $4 24 $ 843 Other assets 2,424 1,730 $2,573 Total assets $3,188 $2,912 Current liabilities $ 588 $ 841 1,034 2$ $ 734 Long-term liabilities Stockholders' equity 1, 582 1, 018 910 1,037 929 Total liabilities and stockholders' equity $3,188 $2,912 $2,573 ces WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 2019 Income statement data; Sales $3,061 $2,924 Operating income Interest expense Net income Other data: 307 321 95 76 224 219 Average number of common shares outstanding Total dividends paid 42.4 47.8 $ 61.0 $ 53.4 Prev 1 of 2 Next > acer
ll TM 16:18 O 1 29% 4 cdn.fbsbx.com Done E9-4B: (Statement of Financial Position – Missing Elements) The following calendar year-end information is available for GRAPES Corporation: .Cash and cash equivalents · Accounts receivable (net) · Inventories · Property, plant, and equipment (net) ·Accounts payable . Wages payable . Contributed capital асcount balance P 5,000 20,000 60,000 120,000 44,000 15,000 100,000 The only asset not listed is trading securities. The only liabilities not listed are a P30,000 note payable due in two years and related accrued interest of P1,000 due in four months. The current ratio (equal to Current Assets : Current Liabilities) at year-end is 1.5:1. Instruction: Determine the following balances at year end. A. Total current assets (Cash and cash equivalent 500 Accounts receivable {net} 20,000 inventories {60,000} – 85000) Trading Securities В. (5000+20000+60000+120000)=20 5,000 c. Total Assets Accounts payable 44,000 + wages payable 15,000 59,00 D.…
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