Item Cash Accounts Receivable Land Accounts Payable Notes Payable Capital Share Revenues Advertising Expenses Utilities Expenses Debits Credits 26,300 3,200 15,000 5500 10,000 25,000 12,000 2000 1000 47500 47500 In 20x1, following transactions incurred. 1) Credit sales of 13,000. 2) Cash sales of 5000. 3) Paid up the Accounts Payable of 500 Please complete the Trial Balan December 20X1 by inputting appropriate figures at (1), (2),13), (4).651. (3 marks each)

Item Cash Accounts Receivable Land Accounts Payable Notes Payable Capital Share Revenues Advertising Expenses Utilities Expenses Debits Credits 26,300 3,200 15,000 5500 10,000 25,000 12,000 2000 1000 47500 47500 In 20x1, following transactions incurred. 1) Credit sales of 13,000. 2) Cash sales of 5000. 3) Paid up the Accounts Payable of 500 Please complete the Trial Balan December 20X1 by inputting appropriate figures at (1), (2),13), (4).651. (3 marks each)

Name: Help to clarify the trial balance for 1,2,3,4,5 For num 2 knowing that
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Help to clarify the trial balance for 1,2,3,4,5 For num 2 knowing that will be 0 as paid up the account payable of $500. But I'm still confuse with rest.. DebitsItemCashAccounts ReceivableLandAccounts PayableNotes PayableCapital ShareRevenuesCredits2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

background info: Green checkmark means that entry is correct, red is wrong. There is only supposed to be a total of 19 entries. look at 1 picture with the complete journal and adjust to fit the allowance method to go into the second table with green and red corrections. The first entry....you are removing the account so you have to remove the allowance and related receivable (2 parts) The second entry...you want to record the cash received, the removal of the allowance and related receivable (3 parts) The third entry...recording a credit sales (2 parts) The fourth entry...setting up receivable and the allowance (2 parts) The fifth entry...record collection of a previously recorded credit sale (2 parts) The sixth entry...record collection of a previously recorded credit sale (2 parts) The seventh entry...adjusting the allowance by reducing the allowance and reducing 5 customer receivable accounts (6 parts) 1. Finalize the journal entries shown on the Fan-Tastic Sports Gear Inc. panel…
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
9-Which of the following errors will not affect the Trial balance? a. Omitting Salary account OMR 12,000 and recording Cash account OMR 12,000 b. Cash paid to Mr. Said OMR 7800: Debit Mr. Said OMR 8700 and Credit Cash OMR 7800 c. Omitting Rent account OMR 8,000 and Cash account RO 8,000 d. Wrong totaling of purchase journal OMR 48,000 instead OMR 84,000
Paid interest expense on Note recorded previously (above). Select the account(s) that would be debited and credited when recording the above transaction. If a second debit or credit does not apply, select "None" as a match. Debit Debit Credit Credit Interest Expense Interest Payable Interest Payable Cash
(b) To record estimated liability. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Period 1 Account Titles and Explanation Period 2 Account Titles and Explanation Save for Later Debit Debit Credit Credit Attempts: 0 of 1 used Submit Answer
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
insurance payment account is a? 1. Representative Personal Account 2.Real Account 3.Artificial Personal Account 4.Nominal Account
Rahul
Complete the table for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number Amount Paid Interest Paid Principal Repaid Outstanding Principal Balance 30 31 32 $0 Total Paid = $ (Do not round until the final answer. Then round to the nearest cent as needed.) Interest Paid = S (Do not round until the final answer. Then round to the nearest cent as needed.)
8. ABC Cleaning Company paid off the $280 they owe to XYZ Corp, check #104. • Which accounts are affected? Is it an increase or decrease to the account? Where will the debit and credit be reported? Okay You
3. Zach had surgery, which was his third claim of the year. He had a bill of $5000. Considering the prior visits, what is Zach's portion of this bill, and what is the responsibility of the insurance carrier? 4. How much is Zach responsible for so far this year considering his first three visits?
If a $335.00 debit item in the general journal is posted as a credit: By how much will the trial balance be out of balance? Explain how you might detect such an error.