Post the closing entries to the general ledger in RED order and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. the normal balance side. Date Accounts Debit Credit Dec. 31 Service Revenue 20,800     Retained Earnings   20,800 Date Accounts Debit Credit Dec. 31 Retained Earnings 9,590     Salaries Expense   6,600   Depreciation Expense - Furniture   200   Insurance Expense   450   Utilities Expense   230   Rent Expense   2,000   Supplies Expense   110 Date Accounts Debit Credit Dec. 31 Retained Earnings 4,200     Dividends   4,200 Retained Earnings Account No. 315 Date Explanation Ref. Debit Credit Balance   Beg. Balance       0 Bal.Dec. 1Dec. 15Dec. 31 Adjusting EntryBeginning Balance EntryClose DividendsClose ExpensesClose Revenues J1       Bal.Dec. 1Dec. 15Dec. 31 Adjusting EntryBeginning Balance EntryClose DividendsClose ExpensesClose Revenues J1       Bal.Dec. 1Dec. 15Dec. 31 Adjusting EntryBeginning Balance EntryClose DividendsClose ExpensesClose Revenues J1       Dividends Account No. 320 Date Explanation Ref. Debit Credit Balance   Beg. Balance       0 Dec. 30 Paid cash dividends J1 4,200     Bal.Dec. 1Dec. 15Dec. 31 Adjusting EntryBeginning Balance EntryClose DividendsClose ExpensesClose Revenues J1       Service Revenue Account No.410 Date Explanation Ref. Debit Credit Balance   Beg. Balance       0 Dec. 12 Performed services for cash J1   2,600   Dec. 15 Performed services on account J1   3,000   Dec. 20 Performed services for cash J1   12,900   Dec. 28 Performed services on account J1   600   Dec. 31 Adjusting Entry J1   600   Dec. 31 Adjusting Entry J1   1,100   Bal.Dec. 1Dec. 15Dec. 31 Adjusting EntryBeginning Balance EntryClose DividendsClose ExpensesClose Revenues J1       Depreciation Expense - Furniture Account No. 510 Date Explanation Ref. Debit Credit Balance   Beg. Balance       0 Dec. 31 Adjusting Entry J1 200     Bal.Dec. 1Dec. 15Dec. 31 Adjusting EntryBeginning Balance EntryClose DividendsClose ExpensesClose Revenues J1       Insurance Expense Account No. 520 Date Explanation Ref. Debit Credit Balance   Beg. Balance       0 Dec. 31 Adjusting Entry J1 450     Bal.Dec. 1Dec. 15Dec. 31 Adjusting EntryBeginning Balance EntryClose DividendsClose ExpensesClose Revenues J1       Rent Expense Account No. 540 Date Explanation Ref. Debit Credit Balance   Beg. Balance       0 Dec. 28 Paid December Rent J1 2,000     Bal.Dec. 1Dec. 15Dec. 31 Adjusting EntryBeginning Balance EntryClose DividendsClose ExpensesClose Revenues J1       Salaries Expense Account No. 545 Date Explanation Ref. Debit Credit Balance   Beg. Balance       0 Dec.18 Paid Salaries J1 2,000     Dec. 31 Adjusting Entry J1 4,600     Bal.Dec. 1Dec. 15Dec. 31 Adjusting EntryBeginning Balance EntryClose DividendsClose ExpensesClose Revenues J1       Supplies Expense Account No. 550 Date Explanation Ref. Debit Credit Balance   Beg. Balance       0 Dec. 31 Adjusting Entry J1 110     Bal.Dec. 1Dec. 15Dec. 31 Adjusting EntryBeginning Balance EntryClose DividendsClose ExpensesClose Revenues J1       Utilities Expense Account No. 555 Date Explanation Ref. Debit Credit Balance   Beg. Balance       0 Dec. 27 Paid utility bill on account J1 230     Bal.Dec. 1Dec. 15Dec. 31 Adjusting EntryBeginning Balance EntryClose DividendsClose ExpensesClose Revenues J1

Account

Determine the amount to be added to Allowance for Doubtful Accounts in each of the following cases and indicate the ending balance in each case. a. Credit balance of $400 in Allowance for Doubtful Accounts just prior to adjustment. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $8,710. Line Item Description Amount Amount added $fill in the blank 1 Ending balance $fill in the blank 2 b. Credit balance of $400 in Allowance for Doubtful Accounts just prior to adjustment. Bad debt expense is estimated at 2% of credit sales, which totaled $973,000 for the year. Line Item Description Amount Amount added $fill in the blank 3 Ending balance $fill in the blank 4

Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. If an amount box does not require an entry, leave it blank. Wig Creations CompanyAging of Receivables ScheduleDecember 31, 20Y1 Customer Balance NotPastDue DaysPastDue 1-30 DaysPastDue 31-60 DaysPastDue 61-90 DaysPastDue 91-120 DaysPast DueOver 120 Subtotals fill in the blank f8971cfe306afa1_1 fill in the blank f8971cfe306afa1_2 fill in the blank f8971cfe306afa1_3 fill in the blank f8971cfe306afa1_4 fill in the blank f8971cfe306afa1_5 fill in the blank f8971cfe306afa1_6 fill in the blank f8971cfe306afa1_7 Arcade Beauty fill in the blank f8971cfe306afa1_8 fill in the blank f8971cfe306afa1_9 fill in the blank f8971cfe306afa1_10 fill in the blank f8971cfe306afa1_11 fill in the blank f8971cfe306afa1_12 fill in the blank f8971cfe306afa1_13 fill in the blank f8971cfe306afa1_14 Creative Images fill in the blank f8971cfe306afa1_15 fill in the blank…

ABC Company has the following T Account at the end of the year: Post to T-Acct (aka Ledger) Asset Cash Liability + C/ stock - Dividend + Acct Payable Commonstah Dividend Revenue 30,000 1,000 500 Common stah Dividend Service Revenue 30,000 480 Expense Rent expense 41000 500 15,000 4,000 5,000 15,000 480 Travel expense 1,000 Insurance expense 5,000

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Swifty Company has the following account balances: Sales Revenue $209,200, Sales Discounts $3,110, Cost of Goods Sold $128,900, and Inventory $57,500.Prepare the necessary closing entries for Swifty Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)  Account Titles and Explanation Debit Credit             (To close accounts with credit balances)                       (To close accounts with debit balances)

Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables. Mar. 17:  Received $3,190 from Paula Spitler and wrote off the remainder owed of $5,900 as uncollectible. If an amount box does not require an entry, leave it blank. Mar. 17   fill in the blank e83d81f48fed021_2 fill in the blank e83d81f48fed021_3     fill in the blank e83d81f48fed021_5 fill in the blank e83d81f48fed021_6     fill in the blank e83d81f48fed021_8 fill in the blank e83d81f48fed021_9 July 29:  Reinstated the account of Paula Spitler and received $5,900 cash in full payment. July 29   fill in the blank cf28d0043fd3fb7_2 fill in the blank cf28d0043fd3fb7_3     fill in the blank cf28d0043fd3fb7_5 fill in the blank cf28d0043fd3fb7_6 July 29   fill in the blank cf28d0043fd3fb7_8 fill in the blank cf28d0043fd3fb7_9     fill in the blank cf28d0043fd3fb7_11 fill in the blank cf28d0043fd3fb7_12

Using the table, what is the average daily balance of the credit card for the December  1  - December  31  billing period? Round your answer to the nearest cent.   Day Activity Adjustment Closing Balance 1 -- -- 9,500 6 Purchase +500 10,000 16 Purchase +1,250 11,250 21 Purchase +3,000 14,250

1. Using EXCEL => Set up "T – Accounts" for each account listed in the Campln Inc. Post-Closing Trial Balance. "T-Account" example for several accounts. Assets Cash Accounts Receivable Inventory Beg $ 750,000 Beg $ 450,000 Beg $ 1,200,000 The following Post-Closing Trial Balance is available in EXCEL. Campln Inc. Post Closing Trial Balance 12/31/2020 Debit Credit Cash 750,000 Accounts Receivable 450,000 Allowance for Doubtful Accounts $ 10,000 Prepaid Insurance 100,000 Inventory 1,200,000 Equipment 4,500,000 Accumulated Depreciation - Equipment 1,350,000 Building 850,000 Accumulated Depreciation - Building $4 250,000 Land 1,100,000 Accounts Payable Salaries Payable 375,000 50,000 1,400,000 2,250,000 6,000 Mortgage Payable $ Long-Term Debt Common Stock - Par $0.01 APIC $ 2,994,000 Retained Earnings $ 265,000 8,950,000 8,950,000 $4