Sunland Company Adjusted Trial Balance For the Month Ended June 30, 2022 Adjusted Trial Balance Account Titles Debit Credit Cash $3,740 Accounts Receivable 3,770 Supplies 430 Accounts Payable $2,000 Unearned Service Revenue 200 Owner's Capital 4,840 Owner's Drawings 580 Service Revenue 5,100 Salaries and Wages Expense 1,500 Miscellaneous Expense 280 Supplies Expense 2,460 Salaries and Wages Payable 620 $12,760 $12,760

Sunland Company Adjusted Trial Balance For the Month Ended June 30, 2022 Adjusted Trial Balance Account Titles Debit Credit Cash $3,740 Accounts Receivable 3,770 Supplies 430 Accounts Payable $2,000 Unearned Service Revenue 200 Owner's Capital 4,840 Owner's Drawings 580 Service Revenue 5,100 Salaries and Wages Expense 1,500 Miscellaneous Expense 280 Supplies Expense 2,460 Salaries and Wages Payable 620 $12,760 $12,760

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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Pachel corpolatian re Ports the per teining vecevicable Days Past Due 3-60 followinginfamethon to iti accounts cuNent 1-30 ever90 $2500 1200. $2000 Jhe companys cradit depaltment Plovided the following statement estima ter vegarding the pocent of occounts enfc ted to eventuallyy be writtenoff form. each category current veceveiNable receivables -30 days past due listed aboue aut standing rELENables 31-ho days past due 16 feceivables 6L-G0 days Pajt due receivable Cuer 20 days due. 90 Recold the company's uncollectible account afsuming it hal expense fredit balance for in its llawance Deuhtful accounts pror to the necessaty maling endjustment.
LTI Post Attend cengage lo * CengageNO M Reset your E Homework com/ilm/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inpr.. Chart of Accounts General Journal Instructions Delmarva Company, during its first year of operations in 2020, reported taxable income of $170,000 and pretax financial income of $100,000. The differenc between taxable income and pretax financial income was caused by two timing differences: excess depreciation on tax return, $70,000; and warranty expenses in excess of warranty payments, $40,000. These two timing differences will reverse in the next three years as follows: Year Depreciation Warranty Expenses 2021 $10,000 $20,000 2022 20,000 16,000 2023 40,000 4,000 Enacted tax rates are 30% for 2020, 35% for 2021 and 2022, and 40% for 2023. Required:
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lal Acc CO ng-20201 am ACCT301 Fall 2020/2021 (Sections 1, 2, and 81) 19 Revenue has a credit balance of OMR 15,000 in Muscat Co. if the dosing entry will made at the year end, ved The entry to close Revenue is: it of Select one: O a debit Income Summary OMR20,000, credit Revenue OMR20,000 Ob. debit Revenue OMR15,000, credit Ahmad Capital OMR15,000 Oc debit Revenue OMR15,000, credit Income Summary OMR15,000. d. debit Income Summary OMR15,000, credit Revenue OMR15,000 Clear my choice s page
28 The following balances were extracted from the books of AL Masa Cleaning Services at 31st December, 2020: Cash BD13900 Accounts - Receivable BD2000 Equipment BD6000 Accounts Prepaid Rent BD4000 - Payable BD14000 - Beginning Capital BD16000 Investment during the year BD3200 Withdrawals BD800 Service Revenues BD8300 - Wages Expense BD600 - Utilities Expense BD2500 Supplies Expense BD1100 - Rent Expense BD3300 Fees Income BD2700- Furniture BD10000. Required: compute the amount and show solution steps of: 1- Total current assets. 2- Total fixed assets. *
Blossom CompanyAdjusted Trial BalanceJuly 31, 2020 No. Account Titles Debit Credit 101 Cash $10,600 112 Accounts Receivable 9,400 157 Equipment 16,400 158 Accumulated Depreciation—Equip. $7,700 201 Accounts Payable 4,200 208 Unearned Rent Revenue 2,400 301 Owner’s Capital 47,200 306 Owner’s Drawings 15,700 400 Service Revenue 64,400 429 Rent Revenue 6,700 711 Depreciation Expense 8,700 726 Salaries and Wages Expense 56,400 732 Utilities Expense 15,400 $132,600 $132,600 (a) Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 enter an account title to close revenue accountsenter an account title to close…
27 The following balances were extracted from the books of AL Masa Cleaning Services at 31st December, 2020: Cash BD13900 Accounts Receivable BD2000 - Equipment BD6000 Prepaid Rent BD4000 Accounts Payable BD14000 - Beginning Capital BD16000 Investment during the year BD3200 Withdrawals BD800 Service Revenues BD8300 - Wages Expense BD600 - Utilities Expense BD2500 Supplies Expense BD1100 - Rent Expense BD3300 Fees Income BD2700- Furniture BD10000 Required: Compute ending capital on Dec 31 2020 and show solution steps. *
25 The following balances were extracted from the books of AL Masa Cleaning Services at 31st December, 2020: Cash BD13900 - Accounts Receivable - BD2000 Equipment BD6000 Prepaid Rent BD4000 - Accounts Payable BD14000 - Beginning Capital BD16000 Investment during the year BD3200 Withdrawals BD800 Service Revenues BD8300 - Wages Expense BD600 - Utilities Expense BD2500 Supplies Expense BD1100 - Rent Expense BD3300 Fees Income BD2700 - Furniture BD10000 - Use the previous information to question 25 to question 28: Required: Compute the amount and show solution steps of: 1- Total Revenues 2- Total Expenses *