Raymond Autobody Shop has the following accounts: (Click the icon to view the accounts) Create a chart of accounts for Raymond Autobody Shop using the standard numbering system. Each account is separated by a factor of 10. For example, the first asset account will be 100 and the next asset account will 110. (Use the first available fine under each section, Asset, Liabilities, etc., when selecting the accounts. If a box is not used, leave the box empty, do not select any labels) Assets Balance Sheet Accounts Liabilities Income Statement Accounts (Part of Equity) Revenues Equity Expenses More info Accounts Payable Cash Ulities Expense Automotive Supplies Dividends Retained Eamings Print Service Revenue Equipment Common Stock Advertising Expense Uneamed Revenue Done <-X

Raymond Autobody Shop has the following accounts: (Click the icon to view the accounts) Create a chart of accounts for Raymond Autobody Shop using the standard numbering system. Each account is separated by a factor of 10. For example, the first asset account will be 100 and the next asset account will 110. (Use the first available fine under each section, Asset, Liabilities, etc., when selecting the accounts. If a box is not used, leave the box empty, do not select any labels) Assets Balance Sheet Accounts Liabilities Income Statement Accounts (Part of Equity) Revenues Equity Expenses More info Accounts Payable Cash Ulities Expense Automotive Supplies Dividends Retained Eamings Print Service Revenue Equipment Common Stock Advertising Expense Uneamed Revenue Done <-X

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Creating a chart of accounts Raymond Autobody Shop has the following accounts: Accounts Payable Service Revenue Create a chart of accounts for Raymond Autobody Shop using the standard numbering system. Each account is separated by a factor of 10. For example, the first asset account will be 100 and the next asset account will 110.
Your company uses account numbers as well as account names in their chart of accounts. They also utilize sub-accounts on the profit and loss accounts. Parent accounts typically end with a "0," and sub-accounts end with digits "1" through "9". For example, 510 would be the parent account, and all accounts 511-519 would be sub-accounts of account 510. Looking at the screenshot below from your company's chart of accounts, please explain the issue and how it should be corrected.
Using Excel, create a table that shows the relationship between the interestearned and the amount deposited, as shown. we will first create the dollar amount column and the interest row, as shown . Next we will type into cell B3 the formula = $A3*B$2. We can now use the Fill command to copy the formula in other cells, resulting in the table as shown. Note that the dollar sign before A3 means column A is to remain unchanged in the calculations when the formula is copied into other cells. Also note that the dollar sign before 2 means that row 2 is to remain unchanged in calculations when the Fill command is used.
Complete this question by entering your answers in the tabs below. Analyze General Joumal T accounts Post the entry using T-accounts to represent ledger accounts. (TIP: For right side T-account entries you must use a right side date selection. For left side T- account entries you must use a left side date selection.) Cash 101 Office Supplies 124 Date Amount Date Amount Date Amount Date Amount End. bal. End. bal. Equipment 167 Accounts Payable 201 Date Amount Date Amount Date Amount Date Amount End. bal. End. bal. Unearned Landscaping Revenue 236 Common Stock 307 Date Amount Date Amount Date Amount Date Amount End. bal. End. bal. Landscaping Revenue 403 Date Amount Date Amount End. bal. Caneral lournal reounts
Click on the "Prepare Fin Sts" tab and enter your name in Cell C1. If Cell C1 is left blank, you will not be able to see your score. Each graded cell is highlighted in yellow. Select all account titles/labels using dropdowns. Enter formulas for all dollar amounts. The formula must only contain cell addresses. Each correct formula will begin with =, +, or -. The basic mathematical operators are +, -, * and / Addition: To add the values in cells A1 and B4, the formula is =A1+B4 Subtraction: To subtract the value in cell B4 from the value in cell A1, the formula is =A1-B4 Multiplication: To multiply the values in cells A1 and B4, the formula is =A1*B4 Division: To divide the value in cell A1 by the value in cell B4, the formula is =A1/B4 THIS FILE REQUIRES THE USE OF =SUM FOR ALL TOTALS AND SUBTOTALS The =SUM function adds all values…
Using the ending balances shown in the Partial Adjusted Trial Balance listed below, what is the total dollar ($) balance for the accounts that have a normal credit balance? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Partial Adjusted Trial Balance December 31, 20xx Accounts Normal Balance Cash 10,000 Accounts Receivable 5,000 Inventory 150,000 Sales Tax Payable 50,000 Accounts Payable 1,000 Deferred Revenue 10,000 Current Portion Long-term Debt 10,000 Long-term Debt Common Stock 50,000 25,000 Treasury Stock Retained Earnings 3,000 50,000 Dividends 5,000 20,000 Service Revenue Cost of Good Sold 5,000 Rent Expense 5.000 ASUS 13 f4 f5 f6 f7 E3 X f9 f10 f11 4. 5 6 9. C8 图 %24
A Cheque Log can be printed for the cheques received from customers. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an a a True b. False
You can also right-click either navigation arrow to open a dialog box that lists all of the worksheets in the workbook. 7 Directions: 8 On the Accounts Receivable Ledger worksheet use the blank form to open an account for a new customer, Andrews Career Center, their customer number is 110. The opening account balance for Andrews Career Center is 1,300.00. Use February 1 for the opening balance date. Post the transactions from each journal provided, Sales, Cash Receipts and General, into the appropriate customer accounts in the Accounts Receivable Subsidiary ledger. Each journal has a separate worksheet. 9 10 HINTS: the Accounts Receivable Subsidiary Ledger deals with customers only so only post the amounts that affect a customer. How can you tell if a transaction affects a customer? 11 See if the journal transaction identifies a customer by name. If it does you need to determine if the amount is a debit or credit. How can you tell? Look at column heading, it will
In the Payments Journal window, invoices being paid will display the: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to sele a b с d Number of items sold on the invoice. The transaction due date. Credit terms. All of the above.
e. The unadjusted balance of the Supplies account is $3,000. The total cost of supplies on hand is $1,600. Journal Entry Accounts Debit Credit e. Choose from any list or enter any number in the input fields and then click Check Answer.
View Policies Show Attempt History Current Attempt in Progress Ayayai, a coffee-mug producer, generally conducts over half of its business in the last month of the calendar year due to holiday sales. By the end of December, its fiscal year-end, Ayayai had accumulated Cost of Goods Sold in the amount of $270,000. Ayayai's business model is to maintain minimal WIP Inventory and FG Inventory, so these two accounts had balances of just $34,000 and $40,000, respectively, on December 31. Ayayai does hold a fair amount of RM Inventory, however, so it will be able to quickly fulfill its orders. As a result, its December 31 RM Inventory (all direct materials) is $105,000. Ayayai utilizes a normal costing system, in its effort to have timely applied MOH information for each custom job, and its budgeted MOH rate is $2.25/direct labor hour. Budgeted MOH at the beginning of the year was $175,000; actual MOH costs incurred by the end of the year were $216,000. Actual direct labor hours used were…
Assign the appropriate 3-digit account number to each account and place them under the correct headings. Initially the number the accounts by 10. Answer: 2. Add two new expense accounts to the chart of accounts you prepared. Assign each account numbers based on where they would be placed in the chart of accounts. Miscellaneous Expense Utilities Expense Answer: