Johnstone Controls had the following situations on December 2021. 1. On March 31, 2021, the company lent $50,000 to another company. A note was signed with principal and interest at 6% payable on March 31, 2022. 2. On September 30, 2021, the company paid its landlord $12,000 representing rent for the period September 30, 2021, to September 30, 2022. Johnstone debited prepaid rent. 3. Supplies on hand at the end of 2020 totaled $3,000. Additional supplies costing $5,000 were purchased during 2021 and debited to the supplies account. At the end of 2021, supplies costing $4,200 remain on hand. 4. Vacation pay of $6,000 for the year that had been earned by employees was not paid or recorded. The company records vacation pay as salaries expense.

answer in text form please (without image), Note: .Every entry should have narration please

Hi I asked this question previously and the individual did not explain things clearly. For instance he provided the I'm guessing standard method of finding a missing amount on a certain type of T-Account but then would turn around and solve it using a different method. I am posting the response that were not clear below. If you could tell me what the actual method is and if there exceptions and if so what those are.Answer #1 I needed the BEGINNING balance of a debit account. As you can see the response below the individual provided a formula that included the BB which is UNKOWN because that is WHAT I NEED. At the bottom they change around the equation to come to the answer. So what is the proper way???Part-1. Begining balance of cash account is missing. The cash account is having a debit balance always. The formula for Cash account is as under:Ending balance of Cash Account = Begining Balance of cash account + All debits - All creditsHere,Ending Balance of cash = 9800All debits…

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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.

The use of a debit card is similar to: Select one: a. Using currency Ob. Paying with a check c. Using a stored-value card d. Paying with credit card e. None of the above

Suppose a co-worker has recorded a cash disbursement twice (Supplies Expense was debited twice for $100 and Cash was credited twice for $100) and wants you to record a correcting entry that will reverse the mistake. The correcting entry will record a debit to the Cash account and a credit to the Supplies account. Would you make this correcting entry? What should you investigate before making a decision about the correcting entry? Are there any other steps you would take to address this issue?

Prepare separate adjusting entries for any checks that require adjustment. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation (To record adjusting entry for due to Metro Bank-Special Account.) (To record adjusting entry for due to Metro Bank_special Account.) (To record adjusting entry for due from Metro Bank-Special Account.) Debit Credit

I got to find if my general ledger is complete. So, In the general ledger, I add all the debits side and the credit side got a matching balance between the debit and credit in the general ledger. However, in the trial balance the total balance for the debit and credit does not match also differ from the general ledger. I will state that is not a complete because of those reasons. Let me know if I am correct or not. Please do example your reasoning?