A D F. H. Retained Earnings Statement Debit J K Income Balance Sheet Debit 3 Trial Balance Adjustments Statement Debit Credit 4 Accounts Debit Credit Debit Credit Credit Credit 1,000 2,700 Cash 6 Accounts Receivable Allowance for Doubtful Accounts Note Receivable (due 5/1/20) Inventory 10 Land 11 Buildings and Equipment 12 Accumulated Depreciation 13 Accounts Payable 14 Notes Payable (due 4/1/22) 15 Common Stock (2,000 shares) 16 30 1,200 9,200 4,500 20,600 8,790 4,050 4,000 5,000 6,120 Retained Earnings (1/1/19) 17 Dividends 18 Sales Revenue 19 | Rent Revenue 20 600 25,140 550 9,050 2,750 Cost of Goods Sold 21 Salaries Expense 22 Delivery Expense 23 Heat and Light Expense Other Expenses 720 820 24 540 25 Totals 53,680 53,680 26 The following additional information is available: (a) salaries accrued but unpaid total $250; (b) the $80 heat and light bill for December has not been recorded or paid; (c) depreciation expense totals $810 on the buildings and equipment; (d) interest accrued on the note payable totals $380 (this will be paid when the note is repaid); (e) the company leases a portion of its floor space to KT & Daniel Specialty Company for $50 per month, and KT & Daniel has not yet paid its December rent; (f) interest accrued on the note receivable totals $80; (g) bad debts expense is $70; and (h) the income tax rate is 30% on current income and is payable in the first quarter of 2017.

On September 18, 2019, Afton Company purchased $2,475 of supplies on account. In Afton Company’s chart of accounts, the supplies account is No. 15, and the accounts payable account is No. 21.a. Journalize the September 18, 2019, transaction on page 87 of Afton Company’s twocolumn journal. Include an explanation of the entry.b. Prepare a four-column account for Supplies. Enter a debit balance of $840 as of September 1, 2019. Place a check mark (¸) in the Posting Reference column.c. Prepare a four-column account for Accounts Payable. Enter a credit balance of $10,900 as of September 1, 2019. Place a check mark (¸) in the Posting Reference column.d. Post the September 18, 2019, transaction to the accounts.e. Do the rules of debit and credit apply to all companies?

Assume TriTeal made the appropriate adjusting entries at the end of June.  The events listed below occurred during the month of July.  Please provide the journal entry(ies) TriTeal used (if any) to record each transaction. On July 15, TriTeal paid its sales staff $10,000 in commissions related to sales which were recognized in June.

Brokeback Towing Company is at the end of its accounting year, December 31, 2021. The following data that must be considered were developed from the company’s records and related documents: On July 1, 2021, a two-year insurance premium on equipment in the amount of $820 was paid and debited in full to Prepaid Insurance on that date. Coverage began on July 1. At the end of 2021, the unadjusted balance in the Supplies account was $1,220. A physical count of supplies on December 31, 2021, indicated supplies costing $410 were still on hand. On December 31, 2021, YY’s Garage completed repairs on one of Brokeback’s trucks at a cost of $910. The amount is not yet recorded. It will be paid during January 2022. On December 31, 2021, the company completed a contract for an out-of-state company for $8,060 payable by the customer within 30 days. No cash has been collected and no journal entry has been made for this transaction. On July 1, 2021, the company purchased a new hauling van.…