1.APY=[(1+rate/m)^m]-1 2. dispersion forces? Prepare a closing entry required at September 30 3. Prepare the adjustment entry as of 30/06/2012 under the following: A. 300 Starbooks Corporation provides an online bookstore for electronic The following video summarizes how to prepare closing entries. Accounts Payable Accounts Receivable Accumulated Depreciation Cash $ 603 зе3 903 зе3 203 203 303 3,203 Common Stock Deferred Revenue Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes... PA 4-1 Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) Starbooks Corporation provides an online bookstore for electronic books. 30, 2018. Updated September 30, 2020 Save as PDF. The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances. would be reported on the balance sheet as of September 30, Prepare the adjusting entry required on December 31. Sehr uses straight-line amortization for bond premium or discount. Required information [The following information applies to the questions displayed below. Assume the year ended on September 30, 2018. 2018. (No entry required on this date; for informational purposes only) July 30- Received telephone bill for July in amount of $45. Required information [The following information applies to... 1a) Starbooks Corporation provides an online bookstore for The accounts have normal debit or credit balances. Required information [The following information applies to the questions displayed below] Starbooks Corporation provides an online bookstore for electronic books. 4. 2. Suppose company had received a… Social Science Assume the year ended on September 30, 2018. (b) Salaries and Wages Expense - 400 General Journal Debit Credit Date Sep 30, 2018. The following is a simplified list of accounts and amounts reported in its accounting records. eval(ez_write_tag([[336,280],'homeworklib_com-box-2','ezslot_1',119,'0','0'])); Prepare a post-closing trial balance at September 30, (b) Prepare the closing journal entries. [The following information applies to the questions Only revenue, expense, and dividend accounts are closed—not asset, liability, Common Stock, or Retained Earnings accounts. In accounting, we often refer to the process of closing as closing the books. Prepare the September closing entries for Buzzy’s, Q: Assume the unadjusted and adjusted trial balances for Affordable Pet Dental, Inc., at September 30, 2018, show the following Q: This exercise continues the accounting process for Sensations Salon, Inc., from the Continuing Exercise in Chapter 2. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries... PA4-1 Preparing a Trial Balance, Closing Journal Entry, and Sylvestor Systems borrows $110,000 cash on May 15, 2015, by signing a 60-day, 12% note 1. Interest is payable annually on January 1. Open general ledger T-accounts and enter opening balances as of September 30, 2018. Starbooks Corporation provides an online bookstore for electronic books. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 2-b. Required information [The following information applies to the questions displayed below.] Yes Accounting Accounting Closing entries After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Nuclear Landscaping Co.: Felix Godwin, Capital $643,600 Felix Godwin, Drawing 10,500 Fees Earned 356,500 Wages Expense 283,100 Rent Expense 56,000 Supplies Expense 11,500 Miscellaneous Expense 13,000 Journalize the … The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) The accounts have normal debit or credit balances. Journalize the transactions and the closing entry for net income. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Instructions Prepare the The Accounts have a normal debt and credit balances. Prepare the closing entry required at September 30, 2018. Assume the year ended on September 30, 2018. Is the Retained Earnings balance of $99,770 the amount that 22. 2018. 3. 2018. The following is a simplified list of accounts and amounts reported in its accounting records. The following is a simplified list of accounts and amounts reported in its accounting records. (b) Prepare the closing journal entries. Prepare a post-closing trial balance at September 30, 2018. 1 Answer to Starbucks corporation provides an online bookstore for electronic books. rent expense $399 CREDIT. normal debit or credit balances. Prepare the closing entry required at September 30, 2018. (If no entry is required for a Prepare A Post-closing Trial Balance At September 30, 2018. 1 Answer to 1. 9. The following is a simplified list of accounts and amounts reported in its accounting records. This is becaues temporary or nominal accounts, (also called income statement accounts), are measured periodically; and so, the amounts in one accounting period should be closed or brought to zero so that they won't get mixed with those of the next period. eval(ez_write_tag([[580,400],'homeworklib_com-large-leaderboard-2','ezslot_13',136,'0','0'])); ! This problem has been solved! Prepare an adjusted trial balance at September 30, 2018. dispersion forces? 2018. where m=compounding periods Which of the following compounds would have the largest London Prepare the closing entry required at September 30, 2015. 900 Figure C Price, Revenue, Cost per Unit (dollars) AREMR FIGURES Quantity of utput per Day (thousands)... How many grams of Cu(OH)2 will precipitate when excess KOH solution is added to 74.0 mL... Ductile deformation results in a change of the shape of solids without breaking them. The adjusting entry for Colleen's employer at September 30 is: (a) No entry is required. Given :- Vi= lo cos (46) V V2 =20 c... seluas-一5-3-2.. rnte received. 4.0, Required information [The following information applies to the questions displayed below.] where m=compounding periods (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Prepare a post-closing trial balance at September 30, B. © 2013-2020 HomeworkLib - FREE homework help online, user contributions licensed under cc by-sa The accounts have normal debit or credit balances. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Prepare the closing entry required at September 30, 2018. Assume the year ended on September 30, 2018. electronic books. Accounts from the adjusted trial balance at September 30, 2015, are listed in alphabetical order below for Ozaki Corp.: Instructions(a) Prepare an adjusted trial balance. Assume the year ended on September 30, 2018 604 304 904 304 204 204 304 3,204 304 Accounts Payable Accounts Receivable... The following is a simplified list of accounts and amounts reported in its accounting records. Assume the year ended on September 30, 2012. Exercise J Convenient Mailing Services, Inc., incurs salaries at the rate of $ 3,000 per day. Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. DATE ACCOUNTS DEBIT CREDIT 1/31/2016 Accounts Receivable 5,000 Revenue 5,000 GJ - 3 Question 3 (6 points) The following is a partial unadjusted Trial Balance. She will be paid on October 1. (No entry required on this date; for informational purposes only) July 30- Received telephone bill for July in amount of $45. A. i.... ATA nSues Gwen data". Required information [The following information applies to... ! Starbooks Corporation provides an online bookstore for electronic books. Required information PA4-1 Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below.) On 27 of June 2012, the company paid last week's wage. Solution for WORKSHEET Prepare the required adjusting entry for each situation as of December 31, 2018 for (SBAD) Company. Prepare … Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. The accounts have normal debit or credit balances. Post transactions to the general ledger. Is the Retained Earnings balance of $1,445 the amount that would be reported on the balance sheet as of September 30, 2012?2. Accounts Payable$38,300Accounts Receivable65,700Accumulated Depreciation20,700Cash79,500Common Stock94,000Equipment89,900Income Tax Expense10,420Notes Payable (long-term)1,420Office Expenses6,220Rent Expense163,400Retained Earnings99,720Salaries and Wages Expense127,900Sales Revenue323,300Supplies34,400rev: 09_27_2018_QC_CS-140758Prepare a post-closing trial balance at September 30, 2018. Closing entries: Closing entries prepare a company for the next period and zero out balance in temporary accounts. C4H10... Find the annual percentage yield for an investment at the following rates. The following is a simplified list of accounts and amounts reported in its accounting records. Closing entries, also called closing journal entries, are entries made at the end of an accounting period to zero out all temporary accounts and transfer their balances to permanent accounts. 300 PROBLEM #5- Sehr Company issued $500,000, 6%, 30-year bonds on January 1, 2017, at 103. The organization uses the track on September 30. The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. Prepare the closing entry required at September 30, 2018. CITY OF HINTON Transaction Fund General Journal Debit Credit 1. interest revenue $99 DEBIT . Prepare the closing entry required at September 30, Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings... ! Prepare the closing entry required at September 30, 2015. Required information [The following information applies to the questions displayed below.] 4.0, Starbooks Corporation provides an online bookstore for electronic books. Prepare the closing entry required at September 30, 2. The books are closed by reseting the temporary accounts for the year. Prepare an adjusted trial balance at September 30, 2018. The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. and amounts reported in its accounting records. Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018, The accounts have normal debitor credit balances. Question:Prepare the closing entry required at September 30, Required information [The following information applies to the questions displayed below. Required information [The following information applies to the questions displayed below.) Prepare A Post-closing Trial Balance At September 30, 2018. Given :- Vi= lo cos (46) V V2 =20 c... seluas-一5-3-2.. rnte received. Required information [The following information applies to the questions displayed below.] The following is a simplified list of accounts and amounts reported in its accounting records. 13 Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) (The following information applies to the questions displayed below.) depreciation expense $299 CREDIT . Prepare a post-closing trial balance at September... ! Closing entries: Closing entries prepare a company for the next period and zero out balance in temporary accounts. Post-Closing Trial Balance [LO 4-3, LO 4-5] September 30 Pay salaries for employee work in the current year, $64,200. eval(ez_write_tag([[300,250],'homeworklib_com-box-2','ezslot_1',119,'0','0'])); Prepare the closing entry required at September 30, 2018. The following is the pre-closing trial balance for Christina Rehabilitation Hospital as of September 30… 2. View transaction list Journal entry worksheet < 1 Record the closing entry required at September 30, 2018 … (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) [E 2-15] The Righter Shoe Store Company prepares monthly financial statements for its bank. Payment is due on August 10 th July 31 – Pay $1,200 for a 12-month insurance policy. 5 o lo0 3 5 TSoen alse. Required information [The following information applies to the questions displayed below.] The following information has been assembled in order to prepare the required adjusting entries at December 31:(1) A one-year bank loan of $720,000 at an annual interest rate of 6% had been obtained on December 1. The following is a simplified list of accounts and amounts reported in its accounting records. Question: Prepare The Closing Entry Required At September 30, 2018. Common Stock PART 3 2018. Prepare a post-closing trial balance at September 30, Prepare the closing entry required at September 30, Assume the year ended on September 30, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Show how the journal entry for the depreciation expense will be recorded at the end of the accounting period on December 31, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Accounts Receivable Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 38,800 66,200 21,200 80,000 94,500 90,400 10,470 1,470 6,270 163,900 99,770 128,400 324,800 34,900. Prepare a post-closing trial balance at September 30, would be reported on the balance sheet as of September 30, 2018? Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance (LO 4-3, LO 4-5] (The following information applies to the questions displayed below.) social media 2018. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred Revenue Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes... Starbooks Corporation provides an online bookstore for electronic books. transaction/event, select "No Journal Entry Required" in the first account field.) Required: 1. November 22 Pay advertising for the current year, $22,500. Starbooks Corporation provides an online bookstore for December 30 Pay $2,900 cash dividends to stockholders. transaction/event, select "No Journal Entry Required" View transaction list Journal entry worksheet Record the closing entry required at September 30, 2018… Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below.] She will be paid on October 1. Colleen Mooney earned a salary of $400 for the last week of September. Note: Enter debits before credits. If no entry is required then write "No Entry Required." Assume the year ended on September 30, 2018 Accounts Payable Accounts Receivable Accumulated Depreciation Cenon Stock Deferred Revenue Depreciation Expense Louipment D interest... PART 1 The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. =(1+0.0... (a) A perfectly competitive firm produces at the P = MC The following is a simplified list of accounts and amounts reported in its accounting records. Prepare an adjusted trial balance at September 30 2. How to Prepare Your Closing Entries. C8H18 Accounts Payable $ 600 Accounts Receivable 300 Starbooks Corporation provides an online bookstore for electronic Starbooks Corporation provides an online bookstore for electronic books. Prepare the closing entry required at September 30, 2018. Prepare the closing entry required at September 30, 2018. income tax expense $299 CREDIT . Prepare the closing entry required at September 30, 2018. 13 Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) (The following information applies to the questions displayed below.) The following is a simplified list of accounts and amounts reported in its accounting records. PART 2 No © 2013-2020 HomeworkLib - FREE homework help online, user contributions licensed under cc by-sa Payment is due on August 10 th July 31 – Pay $1,200 for a 12-month insurance policy. The accounts have normal debit or credit balances. ( record the closing entries for transferring revenues and expenses.) (c) Prepare a post-closing trial balance at September... View Answer The accounts have normal debit or credit balances. The November 30 and December 31, 2016, trial balances contained the following account information: November 30 December 31 Debit s Credit s Debit s Credit s Supplies 1,500 3,000 Prepaid insurance 6,000 4,500 Salaries and wages payable 10,000 15,000 Deferred rent revenue 2,000 1,000 … Prepare the closing entry required at September 30, 2018. Thank you in advance! Prepare the closing entry required at September 30, 2018. Colleen Mooney earned a salary of $400 for the last week of September. 2018. Purpose of closing entries: Closing entries are necessary because they help a company review income accumulation during a period, and … Figure C Price, Revenue, Cost per Unit (dollars) AREMR FIGURES Quantity of utput per Day (thousands)... How many grams of Cu(OH)2 will precipitate when excess KOH solution is added to 74.0 mL... Ductile deformation results in a change of the shape of solids without breaking them. 13 Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial... PA4-1 Preparing a Trial Balance, Closing Journal Entry, and (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) $ 200... Accounts Payable The budget for FY 2017 provided for General Fund estimated revenues totaling $3,140,000 and appropriations totaling $3,100,000. =(1+0.0... (a) A perfectly competitive firm produces at the P = MC C8H18 (If no entry is required for a . Post-Closing Trial Balance [LO 4-3, LO 4-5]... 4.1. On what date does this note mature? Prepared the journal entry, if any Accounts from the adjusted trial balance at September 30, 2015, are listed in alphabetical order below for Ozaki Corp.: Instructions(a) Prepare an adjusted trial balance. Apr 30 No journal entry required-----12. in the first account field.). service revenue $6197 DEBIT. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) social media The accounts have normal debitor credit balances. Closing journal entries are made at the end of an accounting period to prepare temporary accounts for the next period. This can... *21. The accounts have normal debitor credit balances. normal debit or credit balances. $ 610 310 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred Revenue Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Rent Expense Retained Earnings Salaries and Wages Expense Service Revenue Supplies Supplies Expense Travel Expense 910 310 210 210 310 3,210 310 110 210 510 110 410 1,510 2,210 6,230 510 210 2,610, 2. 2. in the first account field.) The accounts have normal debit or credit balances. This can... *21. and amounts reported in its accounting records. 600 electronic books. The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. Prepare the closing entry required at September 30, 2015. 2018? earn net income. 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