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The accounts listed below appeared in
the December 31 trial balance of the
Savard Theater. ...
Question:
The accounts listed below appeared in the December 31 trial balance of the
Savard Theater.
Debit
Equipment
Credit
$192,000
Accumulated Depreciation-Equipment
$60,000
Notes Payable
90,000
Admissions Revenue
380,000
Advertising Exp-ense
13,680
Salaries and Wages Expes
57,600
Interest Expense
1,400
(a) From the account balances listed above and the information given below,
prepare the annual adjusting entries necessary on December 31. (Omit
explanations.)
(i) The equipment has an estimated life of 16 years and a salvage value of
$24,000 at the end of that time.
(ii) The note payable is a 90-day note given to the bank on October 20 and
bearing interest at 8%.
(iii) In December, 2,000 coupon admission books were sold at $30 each and
recorded as Admissions Revenue. They could be used for admission any time
after January 1.
(iv) Advertising expense paid in advance and included in Advertising Expense
$1,100.
(v) Salaries and wages accrued but unpaid $4,700.
(b) What amounts should be shown for each of the following on the income
statement for the year?
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(i) Interest expense.
(ii) Admissions revenue.
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(iii) Advertising expense.
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(iv) Salaries and wages expense.
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Income Statement:
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The income statement is prepared by deducting all the expenses from the
revenue. The expenses include the cost of goods sold, operating expenses,
depreciation, interest expense, and tax expense.

Answer and Explanation:
(a)
Sr. No. Particulars
Debit ($) Credit ($)
1.
10,500
Depreciation-equipment (WN A)
To accumulated depreciation-equipment
2.
Interest expense (WN B)
10,500
1,440
To interest payable
3.
1,440
Admission revenue (WN C)
60,000
To unearned revenue
4.
60,000
Prepaid advertising
1,100
To advertising expense
5.
1,100
Salaries expense
4,700
To salaries payable
4,700
Working Notes:
A. Depreciation-equipment =
B. Interest expense = 90, 000
192, 000 − 24, 000
= $10, 500
16
72
× 0.08 ×
360
C. Admission revenue = 2,000 * 30 = $60,000
(b)
(i)
Interest expense = 1,400 + 1,440
Interest expense = $2,840
= $1,440
(ii)
Admissions revenue = 380,000 - 60,000
Admissions revenue = $320,000
(iii)
Advertising expense = 13,680 - 1,100
Advertising expense = $12,580
(iv)
Salaries and wages expense = 57,600 +...
See full answer below.
Learn more about this topic:
Income Statement Overview,
Format & Examples
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Chapter 2 / Lesson 2
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$960; Cash = $11,100; Equipment = $51,000; Income from services = $19,200;
Insurance Expense = (/explanation/the-accounts-and-their-balances-as-of-dec-31-of-
this-year-for-mmd-company-are-accounts-payable-32-400-accounts-receivable-4200-advertising-expense-960-cash-11-100-equipment-51-000-income-from-services19-200-insurance-expense.html)

Pureen Berhad had the following Adjusted Trial Balance as of 31 December 2018.
Account Titles Debit (RM) Credits (RM) Cash 600,000 Accounts Receivable 382,000
Machinery 750,000 Accounts Payable 230,000 Accumulated Depreciation-Equip.
24,000 Share Capital- (/explanation/pureen-berhad-had-the-following-adjusted-trialbalance-as-of-31-december-2018-account-titles-debit-rm-credits-rm-cash-600-000accounts-receivable-382-000-machinery-750-000-accounts-payable-230-000accumulated-depreciation-equip-24-000-share-capital.html)

Winwood Production Company Account Unadjusted Trial Balance From the
Adjusted Trial Balance Cash 13,300 Prepaid Rent 1,600 Equipment 45,000
Accumulated Depreciation-Equipment 3,300 Accounts Payable 4,
(/explanation/winwood-production-company-account-unadjusted-trial-balancefrom-the-adjusted-trial-balance-cash-13-300-prepaid-rent-1-600-equipment-45-000accumulated-depreciation-equipment-3-300-accounts-payable-4.html)

Based on the Adjusted Trial Balance for Olympia Consulting. Account Title Debit
Credit Cash $27,500 Accounts Receivable $53,500 Supplies $1,200 Office Equipment
$30,500 Accumulated Depreciation $5,250 Accounts Payable $3,300 Salaries Payable
$450 Capital (/explanation/based-on-the-adjusted-trial-balance-for-olympiaconsulting-account-title-debit-credit-cash-27-500-accounts-receivable-53-500supplies-1-200-office-equipment-30-500-accumulated-depreciation-5-250-accountspayable-3-300-salaries-payable-450-capital.html)

Following are the account balances from the December 31 trial balance of Hark
Company: Accounts Receivable $40,000 Allowance for Bad Debts 500 (cr.) Sales
Revenue 180,000 Sales Returns and Allowances 10,000 If 5% of the Accounts
Receivable is estimated to (/explanation/following-are-the-account-balances-fromthe-december-31-trial-balance-of-hark-company-accounts-receivable-40-000allowance-for-bad-debts-500-cr-sales-revenue-180-000-sales-returns-andallowances-10-000-if-5-of-the-accounts-receivable-is-estimated-to.html)

On December 1, 2017, Prosen Distributing Company had the following account
balances. Debit $7,000 Accumulated Depreciation-Equipment Credit Cash Account
(/explanation/on-december-1-2017-prosen-distributing-company-had-the-followingaccount-balances-debit-7-000-accumulated-depreciation-equipment-credit-cashaccount.html)

The December 31, 2021 (pre-closing) adjusted trial balance for Kline Enterprises was
as follows: Account Title Debit Credit Accounts payable 97,000 Accounts receivable
177,000 Accumulated depreciation equipment 267,000 Common stock 497,000 Cash
33,00 (/explanation/the-december-31-2021-pre-closing-adjusted-trial-balance-forkline-enterprises-was-as-follows-account-title-debit-credit-accounts-payable-97-000accounts-receivable-177-000-accumulated-depreciation-equipment-267-000common-stock-497-000-cash-33-00.html)

The trial balance of Admark Ltd. Is as follows: ADMARK LTD. Trial Balance, March 31,
20X2 Account Debit Credit Office Equipment 10,000 Accumulated Depreciation,
Office Equipment 1,000 Office Supplies 2,510 Cash 5,600 Creditors 1,600 Unearned
Revenue 2,10 (/explanation/the-trial-balance-of-admark-ltd-is-as-follows-admark-ltdtrial-balance-march-31-20x2-account-debit-credit-office-equipment-10-000accumulated-depreciation-office-equipment-1-000-office-supplies-2-510-cash-5-600creditors-1-600-unearned-revenue-2-10.html)

For each account listed below indicate whether it ordinarily has a debit (D) or a
credit (C) balance: A. Accounts receivable B. Property & equipment C. Deferred
income taxes D. Accumulated depreciation (/explanation/for-each-account-listedbelow-indicate-whether-it-ordinarily-has-a-debit-d-or-a-credit-c-balance-a-accountsreceivable-b-property-equipment-c-deferred-income-taxes-d-accumulateddepreciation.html)

The following is the adjusted trial balance for Ace Company. Ace Company Adjusted
Trial Balance December 31, 2014 Cash $10,130 Accounts Receivable $3,300 Prepaid
Expenses $2,750 Equipment $10,400 Accumulated Depreciation $2,200 Accounts
Payable $3,700 Not (/explanation/the-following-is-the-adjusted-trial-balance-for-acecompany-ace-company-adjusted-trial-balance-december-31-2014-cash-10-130accounts-receivable-3-300-prepaid-expenses-2-750-equipment-10-400accumulated-depreciation-2-200-accounts-payable-3-700-not.html)

The December 31, 2015, unadjusted trial balance for Demon Deacons Corporation is
presented below : Accounts ; Debit ; Credit ; Cash - $ 8,300 ; Accounts Receivable 13,300 ; Prepaid Rent - 5,160 ; Su (/explanation/the-december-31-2015-unadjustedtrial-balance-for-demon-deacons-corporation-is-presented-below-accounts-debitcredit-cash-8-300-accounts-receivable-13-300-prepaid-rent-5-160-su.html)

Presented below is the adjusted trial balance of Kelly Corporation on December 31,
2020. Debit Credit Cash $6,850 Supplies 1,200 Prepaid Insurance 1,000 Equipment
48,000 Accumulated Depreciation-Equipment $4,000 Trademarks 950 Accounts
Payable 10,000 Sala (/explanation/presented-below-is-the-adjusted-trial-balance-ofkelly-corporation-on-december-31-2020-debit-credit-cash-6-850-supplies-1-200prepaid-insurance-1-000-equipment-48-000-accumulated-depreciation-equipment4-000-trademarks-950-accounts-payable-10-000-sala.html)

The adjusted trial balance on December 31 of the Zebra Company contained the
following accounts and balances: Cash $500 Equipment $600 Patient Service
Revenue 4,500 Accounts Receivable 560 Prepaid Rent 700 Notes Payable 1,000
Supplies 250 Operating Expens (/explanation/the-adjusted-trial-balance-ondecember-31-of-the-zebra-company-contained-the-following-accounts-andbalances-cash-500-equipment-600-patient-service-revenue-4-500-accountsreceivable-560-prepaid-rent-700-notes-payable-1-000-supplies-250-operatingexpens.html)

At March 31, account balances after adjustments for Norton Cinema are as follows:
Accounts Account Balances (After Adjustment) Cash $6,000 Concession Supplies
4,000 Theatre Equipment 50,000 Accumulated Depreciation-Theatre Equipment
12,000 Accounts Payabl (/explanation/at-march-31-account-balances-afteradjustments-for-norton-cinema-are-as-follows-accounts-account-balances-afteradjustment-cash-6-000-concession-supplies-4-000-theatre-equipment-50-000accumulated-depreciation-theatre-equipment-12-000-accounts-payabl.html)

Smiles Entertainment had the following account and balance at December 31:
Account Debit Credit Cash $10,000 Account Receivable 2,000 Prepaid Insurance
2,400 Supplies 1,000 Account Payable $5,000 Common Stock 4,900 Service Revenue
7,000 Salaries E (/explanation/smiles-entertainment-had-the-following-account-andbalance-at-december-31-account-debit-credit-cash-10-000-account-receivable-2000-prepaid-insurance-2-400-supplies-1-000-account-payable-5-000-common-stock4-900-service-revenue-7-000-salaries-e.html)

At December 31, the unadjusted trial balance of H&R Tacks reports Equipment of
$31,500 and zero balances in Accumulated Depreciation Equipment and
Depreciation Expense. Depreciation for the period is (/explanation/at-december-31the-unadjusted-trial-balance-of-h-r-tacks-reports-equipment-of-31-500-and-zerobalances-in-accumulated-depreciation-equipment-and-depreciation-expensedepreciation-for-the-period-is.html)

On December 1, 2017, Fullerton Company had the following account balances. Debit
Credit Cash $18,200 Accumulated Depreciation Equipment $3,000 Notes Receivable
2,200 Accounts Payable 6,100 Accounts Re (/explanation/on-december-1-2017fullerton-company-had-the-following-account-balances-debit-credit-cash-18-200accumulated-depreciation-equipment-3-000-notes-receivable-2-200-accountspayable-6-100-accounts-re.html)

The following is the post-closing trial balance for the Whitlow Manufacturing
Corporation as of December 31, 2017. Account Title Debits Credits Cash $5,100
Accounts receivable $2,100 Inventory $5,100 Equipment $11,100 Accumulated
depreciation-Equipment $3 (/explanation/the-following-is-the-post-closing-trialbalance-for-the-whitlow-manufacturing-corporation-as-of-december-31-2017account-title-debits-credits-cash-5-100-accounts-receivable-2-100-inventory-5-100equipment-11-100-accumulated-depreciation-equipment-3.html)

At December 1, 2018, Marigold Company's accounts receivable balance was $1,930.
During December, Marigold had credit revenues on account of $7,230 and collected
accounts receivable of $5,960. At December 31, 2018, the accounts receivable
balance is: a. (/explanation/at-december-1-2018-marigold-company-s-accountsreceivable-balance-was-1-930-during-december-marigold-had-credit-revenues-onaccount-of-7-230-and-collected-accounts-receivable-of-5-960-at-december-31-2018the-accounts-receivable-balance-is-a.html)

The trial balance for K and J Nursery, Inc., listed the following account balances on
December 31, 2021, the end of its fiscal year: Cash $26,000 Accounts receivable
$21,000 Inventory $35,000 Equipment (net) $90,000 Accounts payable $24,000
Salaries payab (/explanation/the-trial-balance-for-k-and-j-nursery-inc-listed-thefollowing-account-balances-on-december-31-2021-the-end-of-its-fiscal-year-cash-26000-accounts-receivable-21-000-inventory-35-000-equipment-net-90-000-accountspayable-24-000-salaries-payab.html)

Following is the adjusted trial balance of Post Company. Debit Credit Cash $80,000
Accounts Receivable $11,100 Prepaid Insurance $1,500 Equipment $10,000
Accumulated Depreciation $4,000 Supplies $500 Accounts Payable $2,900 Wages
Payable $300 Unearned Re (/explanation/following-is-the-adjusted-trial-balance-ofpost-company-debit-credit-cash-80-000-accounts-receivable-11-100-prepaidinsurance-1-500-equipment-10-000-accumulated-depreciation-4-000-supplies-500accounts-payable-2-900-wages-payable-300-unearned-re.html)

Presented below is the adjusted trial balance of Kingbird Corporation on December
31, 2017. Debit Credit Cash $? Supplies 1,510 Prepaid Insurance 1,310 Equipment
48,310 Accumulated Depreciation-E (/explanation/presented-below-is-the-adjustedtrial-balance-of-kingbird-corporation-on-december-31-2017-debit-credit-cashsupplies-1-510-prepaid-insurance-1-310-equipment-48-310-accumulateddepreciation-e.html)

On September 1, 2010, the account balances of Rand Equipment Repair, Inc. were
as follows. No. Debits (Pound) No. Credits (Pound) 101 Cash 14,580 154
Accumulated Depreciation 1,500 112 Accounts Receivable 3,520 201 Accounts
Payable 3,400 126 Supplies 2,0 (/explanation/on-september-1-2010-the-accountbalances-of-rand-equipment-repair-inc-were-as-follows-no-debits-pound-no-creditspound-101-cash-14-580-154-accumulated-depreciation-1-500-112-accountsreceivable-3-520-201-accounts-payable-3-400-126-supplies-2-0.html)

Montauk Oil Co. reports these account balances on December 31, 2017. Accounts
Payable $114,000 Land $204,000 Notes Payable $264,000 Equipment $164,000 Cash
$84,000 Accounts Receivable $104,000 Buildings $244,000 Capital Stock $344,000
Retained Earnings $7 (/explanation/montauk-oil-co-reports-these-account-balanceson-december-31-2017-accounts-payable-114-000-land-204-000-notes-payable-264000-equipment-164-000-cash-84-000-accounts-receivable-104-000-buildings-244000-capital-stock-344-000-retained-earnings-7.html)

Montauk Oil Co. reports these account balances at December 31, 2014: Accounts
Payable $117,000 Land $207,000 Notes Payable $267,000 Equipment $167,000 Cash
$87,000 Accounts Receivable $107,000 Buildings $247,000 Capital Stock $347,000
Retained Earnings $7 (/explanation/montauk-oil-co-reports-these-account-balancesat-december-31-2014-accounts-payable-117-000-land-207-000-notes-payable-267000-equipment-167-000-cash-87-000-accounts-receivable-107-000-buildings-247000-capital-stock-347-000-retained-earnings-7.html)

Crane Company's trial balance reflected the following account balances at
December 31, 2017: Accounts receivable (net) $40,000 Trading securities 12,500
Accumulated depreciation on equipment and furniture 32,000 Cash 30,500
Inventory 61,500 Equipment 45, (/explanation/crane-company-s-trial-balance-
reflected-the-following-account-balances-at-december-31-2017-accounts-receivablenet-40-000-trading-securities-12-500-accumulated-depreciation-on-equipment-andfurniture-32-000-cash-30-500-inventory-61-500-equipment-45.html)

Below are the account balances for Cowboy Law Firm at the end of December. Use
only the appropriate accounts to prepare an income statement. Cash = $4,300
Salaries expense = $1,650 Accounts payable = $2,300 Retained earnings = $4,250
Utilities expense = $ (/explanation/below-are-the-account-balances-for-cowboy-lawfirm-at-the-end-of-december-use-only-the-appropriate-accounts-to-prepare-anincome-statement-cash-4-300-salaries-expense-1-650-accounts-payable-2-300retained-earnings-4-250-utilities-expense.html)

At December 31, 2014, the trial balance of Darby Company contained the following
amounts before adjustment. Accounts Receivable $385,000 Allowance for Doubtful
Accounts $1,000 Sales Revenue 970,000 Pr (/explanation/at-december-31-2014-thetrial-balance-of-darby-company-contained-the-following-amounts-beforeadjustment-accounts-receivable-385-000-allowance-for-doubtful-accounts-1-000sales-revenue-970-000-pr.html)

Smiles Entertainment had the following accounts and balances at December 31:
Account Debit Credit Cash $10,000 Accounts Receivable 2,000 Prepaid Insurance
2,400 Supplies 1,000 Accounts Payable $5,000 Common Stock 4,000 Retained
Earnings 900 Servic (/explanation/smiles-entertainment-had-the-following-accountsand-balances-at-december-31-account-debit-credit-cash-10-000-accountsreceivable-2-000-prepaid-insurance-2-400-supplies-1-000-accounts-payable-5-000common-stock-4-000-retained-earnings-900-servic.html)

Use the following accounts and balances to prepare a balance sheet for Paulding
Company on December 31, 2013. Accounts Payable: $20,000 Common Stock:
$24,000 Cash: $9,600 Retained Earnings, Dec. 31, 2013: $4,800 Equipment: $26,400
Accounts Receivable: $12 (/explanation/use-the-following-accounts-and-balances-toprepare-a-balance-sheet-for-paulding-company-on-december-31-2013-accountspayable-20-000-common-stock-24-000-cash-9-600-retained-earnings-dec-31-2013-4800-equipment-26-400-accounts-receivable-12.html)

On November 1, 2014, the following were the account balances of Rijo Equipment
Repair. Debit Credit Cash $2,790 Accumulated Depreciation-Equipment $500
Accounts Receivable 2,910 Accounts Payable 2,3 (/explanation/on-november-12014-the-following-were-the-account-balances-of-rijo-equipment-repair-debitcredit-cash-2-790-accumulated-depreciation-equipment-500-accounts-receivable-2910-accounts-payable-2-3.html)

At December 31, 2014, the trial balance showed the following balances: Accounts
Receivable = $280,000 debit balance Allowance for Doubtful Accounts = $1,500
credit balance Sales Revenue = $650,000 c (/explanation/at-december-31-2014-thetrial-balance-showed-the-following-balances-accounts-receivable-280-000-debitbalance-allowance-for-doubtful-accounts-1-500-credit-balance-sales-revenue-650000-c.html)

The adjusted trial balance of Kingbird Cooper Co. as of December 31, 2017, contains
the following. Particulars Debit Credit Cash $20,782 Accounts receivable $8,230
Prepaid rent $3,590 Equipment $19,360 Accumulated depreciation-Equipment
$6,205 Notes pay (/explanation/the-adjusted-trial-balance-of-kingbird-cooper-co-asof-december-31-2017-contains-the-following-particulars-debit-credit-cash-20-782accounts-receivable-8-230-prepaid-rent-3-590-equipment-19-360-accumulateddepreciation-equipment-6-205-notes-pay.html)

The following accounts come from the ledger of Snow Go Company at December
31, 2010. 157 Equipment $88,000 301 Roberts, Capital $20,000 306 Roberts,
Drawing 8,000 212 Salaries Payable 2,000 201 Accounts Payable 22,000 200 Notes
Payable 19,000 726 Salaries (/explanation/the-following-accounts-come-from-theledger-of-snow-go-company-at-december-31-2010-157-equipment-88-000-301roberts-capital-20-000-306-roberts-drawing-8-000-212-salaries-payable-2-000-201accounts-payable-22-000-200-notes-payable-19-000-726-salaries.html)

Presented below is the adjusted trial balance of Concord Corporation at December
31, 2017. Debit Credit Cash $? Supplies 1,460 Prepaid Insurance 1,260 Equipment
48,260 Accumulated Depreciation-Eq (/explanation/presented-below-is-theadjusted-trial-balance-of-concord-corporation-at-december-31-2017-debit-creditcash-supplies-1-460-prepaid-insurance-1-260-equipment-48-260-accumulateddepreciation-eq.html)

The following account balances appear in the 2021 adjusted trial balance of Blue
Devils Corporation: Cash, $4,300 Accounts Receivable, $8,300 Supplies, $18,300
Equipment, $113,000 Accumulated Depreciation, $41,500 Accounts Payable, $25,300
Salaries Payabl (/explanation/the-following-account-balances-appear-in-the-2021adjusted-trial-balance-of-blue-devils-corporation-cash-4-300-accounts-receivable-8300-supplies-18-300-equipment-113-000-accumulated-depreciation-41-500accounts-payable-25-300-salaries-payabl.html)

The following account balances appear in the 2021 adjusted trial balance of Blue
Devils Corporation: Cash, $3,900; Accounts Receivable, $7,900; Supplies, $17,900;
Equipment, $109,000; Accumulated Depreciation, $39,500; Accounts Payable,
$24,900, Salaries (/explanation/the-following-account-balances-appear-in-the-2021adjusted-trial-balance-of-blue-devils-corporation-cash-3-900-accounts-receivable-7900-supplies-17-900-equipment-109-000-accumulated-depreciation-39-500accounts-payable-24-900-salaries.html)

The balances of ledger accounts of ABC Limited as of 31 December 2019 are listed
below: Building $425,000 Land $550,000 Equipment $45,000 Accounts Payable
$48,500 Accounts Receivable $10,500 Salaries Payable $35,000 Interest Payable
$12,000 Share Capital (/explanation/the-balances-of-ledger-accounts-of-abc-limitedas-of-31-december-2019-are-listed-below-building-425-000-land-550-000equipment-45-000-accounts-payable-48-500-accounts-receivable-10-500-salariespayable-35-000-interest-payable-12-000-share-capital.html)

On December 31, 2019, the ledger of Lopez Company contained the following
account balances: Cash $32,400 Maria Lopez, Drawing $12,900 Accounts Receivable
2,600 Fees Income 50,750 Supplies 1,800 Depreciation Expense 2,450 Equipment
25,400 Salaries Expense (/explanation/on-december-31-2019-the-ledger-of-lopezcompany-contained-the-following-account-balances-cash-32-400-maria-lopezdrawing-12-900-accounts-receivable-2-600-fees-income-50-750-supplies-1-800depreciation-expense-2-450-equipment-25-400-salaries-expense.html)

Presented below is the adjusted trial balance of Pharoah Corporation at December
31, 2017. Debit ($) Credit ($) Cash ? Supplies 1,490 Prepaid Insurance 1,290
Equipment 48,290 Accumulated Depreciation-Equipment 4,290 Trademarks 1,240
Accounts Payable 10, (/explanation/presented-below-is-the-adjusted-trial-balanceof-pharoah-corporation-at-december-31-2017-debit-credit-cash-supplies-1-490prepaid-insurance-1-290-equipment-48-290-accumulated-depreciation-equipment4-290-trademarks-1-240-accounts-payable-10.html)

On December 1, 2017, Annalise Company had the account balances shown below.
Debit Credit Cash $4,800 Accumulated Depreciation Equipment $1,500 Accounts
Receivable $3,900 Accounts Payable $3,000 Inventory $1,800* Owner's Capital
$27,000 Equipment $21,000 $ (/explanation/on-december-1-2017-annalisecompany-had-the-account-balances-shown-below-debit-credit-cash-4-800accumulated-depreciation-equipment-1-500-accounts-receivable-3-900-accountspayable-3-000-inventory-1-800-owner-s-capital-27-000-equipment-21-000.html)

Below are the account balances for Cowboy Law Firm at the end of December.
Accounts Balances Cash $5,400 Salaries expense 2,200 Accounts payable 3,400
Retained earnings 3,900 Utilities expense 1,200 Supplies 13,800 Service revenue
9,300 Common stock 6,000 (/explanation/below-are-the-account-balances-forcowboy-law-firm-at-the-end-of-december-accounts-balances-cash-5-400-salariesexpense-2-200-accounts-payable-3-400-retained-earnings-3-900-utilities-expense-1200-supplies-13-800-service-revenue-9-300-common-stock-6-000.html)

Bravo Unlimited Unadjusted Trial Balance December 31, 2016 Account Title Debit
Credit Cash $88,450 331,860 6,255 11,000 295,285 Accounts Receivable Supplies
Prepaid Rent Equipment Adjusting items: 1. (/explanation/bravo-unlimitedunadjusted-trial-balance-december-31-2016-account-title-debit-credit-cash-88-450331-860-6-255-11-000-295-285-accounts-receivable-supplies-prepaid-rentequipment-adjusting-items-1.html)

The accounts and balances for Paw Prints Pet Sitters on November 1 are provided
below. Cash $19,550 Fees income $0 Accounts receivable $830 Rent expense $0
Office equipment $2,300 Utilities expense $0 Supplies $230 Salaries expense $0
Accounts payable $1, (/explanation/the-accounts-and-balances-for-paw-prints-petsitters-on-november-1-are-provided-below-cash-19-550-fees-income-0-accountsreceivable-830-rent-expense-0-office-equipment-2-300-utilities-expense-0-supplies230-salaries-expense-0-accounts-payable-1.html)

At December 31, the unadjusted trial balance of H&R Tacks reports Supplies of
$8,400 and Supplies Expense of $0. On December 31, supplies costing $7,400 are on
hand. Prepare the T-accounts for each ac (/explanation/at-december-31-theunadjusted-trial-balance-of-h-r-tacks-reports-supplies-of-8-400-and-suppliesexpense-of-0-on-december-31-supplies-costing-7-400-are-on-hand-prepare-the-taccounts-for-each-ac.html)

Given the following adjusted trial balance: Debit Credit Cash $1994 Accounts
receivable 2518 Inventory 3749 Prepaid rent 103 Equipment 360 Accumulated
depreciation-equipment $62 Accounts payable 98 Unearned service revenue 146
Common stock 248 Retaine (/explanation/given-the-following-adjusted-trial-balancedebit-credit-cash-1994-accounts-receivable-2518-inventory-3749-prepaid-rent-103equipment-360-accumulated-depreciation-equipment-62-accounts-payable-98unearned-service-revenue-146-common-stock-248-retaine.html)

The following balances were taken from the books of Splish Corp. on December 31,
2017. Interest revenue $87,550 Accumulated depreciation-Equipment $41,550 Cash
$52,550 Accumulated depreciation-Buildings $29,550 Sales revenue $1,381,550
Notes receivable $1 (/explanation/the-following-balances-were-taken-from-thebooks-of-splish-corp-on-december-31-2017-interest-revenue-87-550-accumulateddepreciation-equipment-41-550-cash-52-550-accumulated-depreciation-buildings29-550-sales-revenue-1-381-550-notes-receivable-1.html)

On December 31, 2018, the accounting records of Braun Corporation contain the
following items: Accounts Payable $19,500 Accounts Receivable $47,000 Land
$247,000 Cash ? Capital Stock ? Equipment $127,000 Building $187,000 Notes
Payable $197,000 Retained E (/explanation/on-december-31-2018-the-accountingrecords-of-braun-corporation-contain-the-following-items-accounts-payable-19-500accounts-receivable-47-000-land-247-000-cash-capital-stock-equipment-127-000building-187-000-notes-payable-197-000-retained-e.html)

At December 31, 2017, the trial balance of Bonita Industries contained the following
amounts before adjustment. Debit Credit Accounts Receivable $189,100 Allowance
for Doubtful Accounts $ 1,570 Sates Revenue 930,400 a) Prepare the adjusting entry
at D (/explanation/at-december-31-2017-the-trial-balance-of-bonita-industriescontained-the-following-amounts-before-adjustment-debit-credit-accountsreceivable-189-100-allowance-for-doubtful-accounts-1-570-sates-revenue-930-400a-prepare-the-adjusting-entry-at-d.html)

Below are the account balances for Cowboy Law Firm at the end of December.
Accounts Balances Cash $4,300 Salaries expense 1,650 Accounts payable 2,300
Retained earnings 4,250 Utilities expense 1,000 S (/explanation/below-are-theaccount-balances-for-cowboy-law-firm-at-the-end-of-december-accounts-balancescash-4-300-salaries-expense-1-650-accounts-payable-2-300-retained-earnings-4250-utilities-expense-1-000-s.html)

Following is the adjusted trial balance of Post Company. \ Cash 80,000 Accounts
Receivable 11,100 Prepaid Insurance 1,500 Equipment 4,000 Accumulated
Depreciation 200 Supplies 500 Accounts Payable 700 Wages Payable 300 Unearned
Revenue 1,500 Con (/explanation/following-is-the-adjusted-trial-balance-of-postcompany-cash-80-000-accounts-receivable-11-100-prepaid-insurance-1-500equipment-4-000-accumulated-depreciation-200-supplies-500-accounts-payable700-wages-payable-300-unearned-revenue-1-500-con.html)

The account balances shown below were gathered from Plum Company's trial
balance on December 31, 2019. All adjusting entries have been made. Wages
payable $250,000 Cash 200,000 Mortgage payable 1,500,000 Dividends payable
150,000 Prepaid rent 100,000 Inve (/explanation/the-account-balances-shownbelow-were-gathered-from-plum-company-s-trial-balance-on-december-31-2019-alladjusting-entries-have-been-made-wages-payable-250-000-cash-200-000-mortgagepayable-1-500-000-dividends-payable-150-000-prepaid-rent-100-000-inve.html)

On December 1, 2014, Boline Distributing Company had the following account
balances: Debit Credit Cash $7,200 Accumulated Depreciation - Equipment $2,200
Accounts receiveable 4,600 Accounts payable (/explanation/on-december-1-2014boline-distributing-company-had-the-following-account-balances-debit-credit-cash7-200-accumulated-depreciation-equipment-2-200-accounts-receiveable-4-600accounts-payable.html)

An accountant prepared the following post-closing trial balance: Debit Balances
Credit Balances Cash 46,540 Accounts receivable 122,260 Supplies 4,000 Equipment
127,200 Accumulated depreciation-Equipment 33,600 Accounts payable 52,100
Salaries payable 6,4 (/explanation/an-accountant-prepared-the-following-postclosing-trial-balance-debit-balances-credit-balances-cash-46-540-accountsreceivable-122-260-supplies-4-000-equipment-127-200-accumulated-depreciationequipment-33-600-accounts-payable-52-100-salaries-payable-6-4.html)

Presented below are the balances from Elsie's Electronics Ltd.'s general ledger as of
September 30, 2016: Debit Credit Cash $28,000 Accounts receivable $35,000
Inventory $65,000 Equipment $331,000 Accumulated depreciation, equipment
$150,000 Accounts paya (/explanation/presented-below-are-the-balances-fromelsie-s-electronics-ltd-s-general-ledger-as-of-september-30-2016-debit-credit-cash28-000-accounts-receivable-35-000-inventory-65-000-equipment-331-000accumulated-depreciation-equipment-150-000-accounts-paya.html)

Below are the account balances for Cowboy Law Firm at the end of December.
Accounts Balances Cash $5,300 Salaries expense 2,150 Accounts payable 3,300
Retained earnings 3,850 Utilities expense 1,100 Supplies 13,700 Service revenue
9,200 Common stock 5,900 (/explanation/below-are-the-account-balances-forcowboy-law-firm-at-the-end-of-december-accounts-balances-cash-5-300-salariesexpense-2-150-accounts-payable-3-300-retained-earnings-3-850-utilities-expense-1100-supplies-13-700-service-revenue-9-200-common-stock-5-900.html)

For each account listed below indicate whether it ordinarily has a debit (D) or a
credit (C) balance: A. Accrued salaries B. Sales C. Common stock D. Investments E.
Notes payable (/explanation/for-each-account-listed-below-indicate-whether-itordinarily-has-a-debit-d-or-a-credit-c-balance-a-accrued-salaries-b-sales-c-commonstock-d-investments-e-notes-payable.html)

On December 31, 2014, when its accounts receivable were $252,000 and its account
Allowance for Doubtful Accounts had an unadjusted debit balance of $1,700, Ceja
Corp. estimated that $14,100 of its acc (/explanation/on-december-31-2014-whenits-accounts-receivable-were-252-000-and-its-account-allowance-for-doubtfulaccounts-had-an-unadjusted-debit-balance-of-1-700-ceja-corp-estimated-that-14100-of-its-acc.html)

At December 31, 2012, the trial balance of Oliker Company contained the following
amounts before adjustment. Debits Credits Accounts Receivable $180,000
Allowance for Doubtful Accounts $1,500 Sales Revenue 875,000 Instructions: (a)
Prepare the adjust (/explanation/at-december-31-2012-the-trial-balance-of-olikercompany-contained-the-following-amounts-before-adjustment-debits-creditsaccounts-receivable-180-000-allowance-for-doubtful-accounts-1-500-sales-revenue875-000-instructions-a-prepare-the-adjust.html)

On December 31 of the current year, Company's bookkeeper made an entry
debiting Supplies Expense and crediting Supplies on Hand for $12,600. The Supplies
on Hand account had a $15,300 debit balance on January 1. The December 31
balance sheet showed Suppli (/explanation/on-december-31-of-the-current-yearcompany-s-bookkeeper-made-an-entry-debiting-supplies-expense-and-creditingsupplies-on-hand-for-12-600-the-supplies-on-hand-account-had-a-15-300-debitbalance-on-january-1-the-december-31-balance-sheet-showed-suppli.html)
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