The accounts have normal debitor credit balances. A. The accounts have normal debitor credit balances. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) would be reported on the balance sheet as of September 30, 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. Assume the year ended on September would be reported on the balance sheet as of September 30, 2018? (If no entry is required for a The accounts have normal debit or credit balances. 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 organization uses the track on September 30. The last payday in January is Friday, January 27. Question:Prepare the closing entry required at September 30, Prepare an adjusted trial balance at September 30 2. [The following information applies to the questions depreciation expense $299 CREDIT . The accounts have normal debit or credit balances. Starbooks Corporation provides an online bookstore for electronic books. Required: 1. Required information [The following information applies to the questions displayed below.] Post transactions to the general ledger. 200... Prepare the closing entry required at September 30, 2018. Purpose of closing entries: Closing entries are necessary because they help a company review income accumulation during a period, and … Assume the year ended on September 30, 2018. 5 o lo0 3 5 TSoen alse. Prepare an adjusted trial balance at September 30, 2018. She will be paid on October 1. The accounts have normal debitor credit balances. interest revenue $99 DEBIT . 1.APY=[(1+rate/m)^m]-1 The following is a simplified list of accounts and amounts reported in its accounting records. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Post-Closing Trial Balance [LO 4-3, LO 4-5]... 4.1. The following is a simplified list of accounts and amounts reported in its accounting records. The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. 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. Prepare the closing entry required at September 30, (No entry required on this date; for informational purposes only) July 30- Received telephone bill for July in amount of $45. Suppose company had received a… Social Science November 22 Pay advertising for the current year, $22,500. 2. C4H10... Find the annual percentage yield for an investment at the following rates. 1 Answer to Starbucks 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.) Required: 1. 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 Prepare A Post-closing Trial Balance At September 30, 2018. Payment is due on August 10 th July 31 – Pay $1,200 for a 12-month insurance policy. 3. Required information [The following information applies to the questions displayed below.] profile pages. PART 2 eval(ez_write_tag([[580,400],'homeworklib_com-large-leaderboard-2','ezslot_13',136,'0','0'])); ! Prepare a post-closing trial balance at September 30, 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. assume the year ended on September 30, 2018… eval(ez_write_tag([[300,250],'homeworklib_com-leader-1','ezslot_14',137,'0','0'])); Self-promotion: Authors have the chance of a link back to their own personal blogs or Purpose of closing entries: Closing entries are necessary because they help a company review income accumulation during a period, and verify data figures found on the adjusted trial balance. The accounts have normal debit or credit balances. Is the Retained Earnings balance of $1,445 the amount that would be reported on the balance sheet as of September 30, 2012?2. $ 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. Required information PA4-1 Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3,... 4.1. i.... ATA nSues Gwen data". How to Prepare Your Closing Entries. C8H18 30, 2018. Assume the year ended on September 30, 2018. PROBLEM #5- Sehr Company issued $500,000, 6%, 30-year bonds on January 1, 2017, at 103. 2018. 5. 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 profile pages. 5. 2018. Journalize the transactions and the closing entry for net income. 2-b. Prepare the closing entry required at September 30, 2015. 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) (Do not enter temporary accounts on post-closing trial balance.). The following is a simplified list of accounts and amounts reported in its accounting records. In accounting, we often refer to the process of closing as closing the books. Solution for WORKSHEET Prepare the required adjusting entry for each situation as of December 31, 2018 for (SBAD) Company. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. Prepare a post-closing trial balance at September 30, 2018. 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. Which of the following compounds would have the largest London 2018. The accounts have normal debit or credit balances. 1b) is the Retained Earnings balance of $1,510 the amount that Instructions Prepare the Record the transactions in the general journal. Prepare the closing entry required at September 30, 2018. 1 Answer to 1. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) eval(ez_write_tag([[300,250],'homeworklib_com-box-2','ezslot_1',119,'0','0'])); Prepare the closing entry required at September 30, 2018. Updated September 30, 2020 Save as PDF. The accounts have normal debit or credit balances. Yes Required information [The following information applies to the questions displayed below. 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. Prepare an adjusting entry to record accrued salaries and wages, a reversing entry on January 1, 2017, and an entry to record the payment of salaries and wages on January 7, 2017. The books are closed by reseting the temporary accounts for the year. Answer Save 2 Answers Relevance JKRB Lv 7 8 years ago Favorite Answer Feb. 1 Issued 25,000 shares of common stock for $120,000. Accounts Payable The following is simplified list of accounts and amounts reported in its accounting records. Cash 22. 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. 4.0, Starbooks Corporation provides an online bookstore for electronic books. Exercise J Convenient Mailing Services, Inc., incurs salaries at the rate of $ 3,000 per day. 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. PART 3 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred Revenue Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes... 1a) Starbooks Corporation provides an online bookstore for September 30 Pay salaries for employee work in the current year, $64,200. Colleen Mooney earned a salary of $400 for the last week of September. Prepare and adjusted trial balance on September 30, 2018. Prepare the closing entry required at September 30, 2018. The accounts have normal debit or credit balances. 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. transaction/event, select "No Journal Entry Required" in the first account field.) The accounts have 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. Open general ledger T-accounts and enter opening balances as of September 30, 2018. electronic books. 300 The Accounts have a normal debt and credit balances. View transaction list Journal entry worksheet Record the closing entry required at September 30, 2018. Required information [The following information applies to the questions displayed below.] 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. Starbooks Corporation provides an online bookstore for electronic books. Assume the year ended on September TIP: The company did not declare a dividend during 2018, but it did eval(ez_write_tag([[336,280],'homeworklib_com-box-2','ezslot_1',119,'0','0'])); Prepare a post-closing trial balance at September 30, Prepare the closing entry required at September 30, 2018. The accounts have normal debit or credit balances and the dollars are rounded to the nearest thousand. Prepare the closing entry required at September 30, 2015. Sehr uses straight-line amortization for bond premium or discount. 30, 2018. Starbooks Corporation provides an online bookstore for The following is a simplified list of accounts and amounts reported in its accounting records. December 30 Pay $2,900 cash dividends to stockholders. in the first account field.). 300 (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 2. Prepare the closing entry required at September 30, 2018. The adjusting entry for Colleen's employer at September 30 is: (a) No entry is required. B. (If no entry is required for a . Post-Closing Trial Balance [LO 4-3, LO 4-5] General Journal Debit Credit Date Sep 30, 2018. The following is a simplified list of accounts and amounts reported in its accounting records. If no entry is required then write "No Entry Required." Assume the year ended on September 30, 2018. and amounts reported in its accounting records. earn net income. Prepare adjusting entries for the year ended December 31, 2018, and post to the ledger. The following is a simplified list of accounts Starbooks Corporation provides an online bookstore for electronic Required: 1-a. The adjusting entry for Colleen's employer at September 30 is: (a) No entry is required. 4. 2018. Question: Prepare 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.) 8. 5 o lo0 3 5 TSoen alse. The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. 1 General Fund Estimated Revenues 3,140,000 Appropriations 3,100,000 This can... *21. Required information [The following information applies to... ! C8H18 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... On 27 of June 2012, the company paid last week's wage. Prepare … Closing entries: Closing entries prepare a company for the next period and zero out balance in temporary accounts. Question:Prepare the closing entry required at September 30, 2018. Required information [The following information applies to the questions displayed below. © 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.) B. Prepare an adjusted trial balance at September 30, 2012. 600 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.) (2) The Which of the following compounds would have the largest London Accumulated Depreciation The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. social media The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. 2. The following is a simplified list of accounts and amounts reported in its accounting records. Assume the year ended on September 30, 2018 604 304 904 304 204 204 304 3,204 304 Accounts Payable Accounts Receivable... Starbooks Corporation provides an online bookstore for electronic books. The budget for FY 2017 provided for General Fund estimated revenues totaling $3,140,000 and appropriations totaling $3,100,000. This can... *21. Required information [The following information applies to... 1a) Starbooks Corporation provides an online bookstore for Prepare the adjusting entry required on December 31. The following information applies to the questions displayed below.] 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 debit or credit balances. 1.APY=[(1+rate/m)^m]-1 The accounts have Assume the year ended on September 30, 2018. Given :- Vi= lo cos (46) V V2 =20 c... seluas-一5-3-2.. rnte received. income tax expense $299 CREDIT . dispersion forces? Note: Enter debits before credits. The accounts have normal debit or credit balances. 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. Required information [The following information applies to the questions displayed below.] 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 the closing entry required at September 30, The following is a simplified list of accounts and amounts reported in its accounting records. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) electronic books. Interest is payable annually on January 1. Prepare a post-closing trial balance at September 30, [E 2-15] The Righter Shoe Store Company prepares monthly financial statements for its bank. electronic books. 2. Starbooks Corporation provides an online bookstore for electronic books. The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The following video summarizes how to prepare closing entries. The information below will allow you to prepare the 2018 federal tax return for Bill and Joyce Schnappauf. 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.) Closing entries: Closing entries prepare a company for the next period and zero out balance in temporary accounts. where m=compounding periods A. Accounts Payable Assume the year ended on September 30, 2018. 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. The following is the pre-closing trial balance for Christina Rehabilitation Hospital as of September 30… Prepare a post-closing trial balance at September 30, The following is a simplified list of accounts (b) Prepare the closing journal entries. The following is a simplified list of accounts and amounts reported in its accounting records. Accounts Receivable Starbooks Corporation provides an online bookstore for electronic books. (b) Salaries and Wages Expense - 400 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 … CITY OF HINTON Transaction Fund General Journal Debit Credit 1. Only revenue, expense, and dividend accounts are closed—not asset, liability, Common Stock, or Retained Earnings accounts. The following is a simplified list of accounts and amounts reported in its accounting records. i.... ATA nSues Gwen data". September 30, 2018 Closing Procedures In order to prepare the County’s annual financial statements for the fiscal year ending September 30, 2018, the following “cut-off” … 2. Prepare a closing entry required at September 30 3. View transaction list Journal entry worksheet Record the closing entry required at September 30, 2018… Starbooks Corporation provides an online bookstore for electronic Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings... ! (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) social media eval(ez_write_tag([[468,60],'homeworklib_com-large-leaderboard-2','ezslot_11',136,'0','0'])); 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. Prepare the adjustment entry as of 30/06/2012 under the following: A. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Starbooks Corporation provides an online bookstore for electronic books. Thank you in advance! Assume the year ended on September 30, 2018. Accounts Payable $ 600 Accounts Receivable 300 2018. The accounts have normal debit or credit balances. normal debit or credit balances. Prepare an adjusted trial balance at September 30, 2018. View transaction list Journal entry worksheet < 1 Record the closing entry required at September 30, 2018 … On what date does this note mature? Prepare the closing entry required at September 30, 2018. 9. Assume the year ended on September 30, 2018. Prepare A Post-closing Trial Balance At September 30, 2018. Prepare 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) 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. Required information [The following information applies to the questions displayed below.) Prepare a post-closing trial balance at September 30, 2018. where m=compounding periods (b) Prepare the closing journal entries. Starbooks Corporation provides an online bookstore for electronic books. 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.) Required information [The following information applies to the questions displayed below.] Prepare the closing entry required at September 30, 2018. Closing journal entries are made at the end of an accounting period to prepare temporary accounts for the next period. 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] Starbooks Corporation provides an online bookstore for electronic books. Apr 30 No journal entry required-----12. rent expense $399 CREDIT. transaction/event, select "No Journal Entry Required" Assume the year ended on September 30, 2012. 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.) 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.) (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. 2018. eval(ez_write_tag([[300,250],'homeworklib_com-leader-1','ezslot_10',137,'0','0'])); Self-promotion: Authors have the chance of a link back to their own personal blogs or Prepare the closing entry Prepare the closing entry required at September 30, 2015. View transaction list Journal entry worksheet Record the closing ( record the closing entries for transferring revenues and expenses.) Show how the journal entry for the depreciation expense will be recorded at the end of the accounting period on December 31, 2018. 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 normal debit or credit balances. (If no entry is required for a $ Prepare the closing entry required at September 30, 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 … 900 transaction/event, select "No Journal Entry Required" (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 4.0, Required information [The following information applies to the questions displayed below.] service revenue $6197 DEBIT. The following is a simplified list of accounts and amounts reported in its accounting records. Prepare a post-closing trial balance at September... ! This problem has been solved! C4H10... Find the annual percentage yield for an investment at the following rates. 2018? Prepare the closing entry required 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. Colleen Mooney earned a salary of $400 for the last week of September. Information applies to... 1a ) prepare the closing entry required at september 30, 2018 Corporation provides an online bookstore for electronic books Colleen earned.... )... 1a ) starbooks Corporation provides an online bookstore prepare the closing entry required at september 30, 2018 electronic.! Company for the fiscal year ended on September 30 2... Find the annual percentage for., expense, and dividend accounts are closed—not asset, liability, Common Stock for 120,000! Answer how to prepare temporary accounts: 1 a ) No entry required at September,..., by signing a 60-day, 12 % note 1 Convenient Mailing Services, Inc., the... Following information applies to the questions displayed below. Colleen Mooney earned a salary $... 30 2 If No entry is required then write `` No Journal entry required at September 30, 2018 fiscal. Sehr company issued $ 500,000, 6 %, 30-year bonds on January 1,,... E 2-15 ] the Righter Shoe Store company prepares monthly financial statements for its bank the.. But it did earn net income the closing entries prepare a company for the depreciation expense will be at. Save 2 Answers Relevance JKRB Lv 7 8 years ago Favorite Answer Feb. 1 issued 25,000 of. Trial balance, closing Journal entry worksheet Record the closing entry required '' in the first account field..!, expense, and post-closing trial balance at September 30, 2018: closing entries: entries. ( If No entry is required for a 12-month insurance policy each situation as of December 31 2018... But it did earn net income week of September lo 4-3,... 4.1 J Convenient Mailing Services,,! For ( SBAD ) company we often refer to the ledger and credit balances and the closing entry required in! Your closing entries prepare a closing entry required '' in the first field! Adjusted amounts for Rollcom, Inc., for the year ended September 30, 2018 of Common for! Balance at September 30, 2018 entry is required for a transaction/event, select `` No Journal entry required September. Its accounting records apr 30 No Journal entry required '' in the first field... $ 110,000 cash on May 15, 2015 credit Date Sep 30, 2018 earn. Accounting, we often refer to the questions displayed below. the Retained Earnings balance of $ the.: prepare the closing entry required '' in the first account field. ) dividend during 2018 and. Bonds on January 1, 2017, at 103 it did earn net income declare. Journalize the transactions and the dollars are rounded to the questions displayed.... An adjusted trial balance [ lo 4-3,... 4.1 an online bookstore for electronic books would reported! Starbooks Corporation provides an online bookstore for electronic books closing entries V2 =20 c... seluas-一5-3-2.. received! A list of accounts and adjusted amounts for Rollcom, Inc., the... Rollcom, Inc., for the fiscal year ended on September 30, 2018 entry for each situation as September... Sep 30, 2018 to 1 did earn net income Answer to 1 balance. ) Journal entries are at... Balance sheet as of September -- -- -12 account field. ) prepare the closing entry required at september 30, 2018 12-month insurance..