FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Prepare the four closing entries for the following adjusted trial balance, using the journal on the next page. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking revenue Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense Debit $ 8,000 17,500 3,000 172,000 85,000 20,000 23,500 61,000 8,000 12,000 Credit $ 36,000 12,000 4,000 58,000 30,000 140,000 130,000arrow_forwardWhat does the QuickBooks Online Check Register do?arrow_forwardSafari File Edit View History Bookmarks Window Help uLink - Student... W 1. 2. uLink - Student... 3. 4. learn-eu-central-1-prod-fleet01-xythos.content.blackboardcdn.com uLink - Student... 21 445 Entity A enters into the following transactions. You are required to show the impact of the transactions below on the accounting equation. e Content 9 Bb https://learn-eu-... Entity A purchased 1 000 bags of cement from K Ltd on credit. K Ltd normally sells a bag for R45. Entity A received a 10% discount for the 1 000 bags. Entity A returned 150 bags of cement, as they were defective. On the same day, the outstanding balance was settled through an online payment. This transaction did not affect the discount offered to Entity A. Select the correct values from the dropdown menus in the table provided in the Blackboard activity. MAR 7 In an attempt to assist the business, the owner of Entity A deposited R100 000 into the entity's bank account. A quarter of the amount is payable to the owner and…arrow_forward
- Pharoah Company had these transactions during the current period. June 12 July 11 Nov. 28 Issued 81,500 shares of $1 par value common stock for cash of $305,625. Issued 4,150 shares of $102 par value preferred stock for cash at $109 per share. Purchased 3,050 shares of treasury stock for $9,800. Prepare the journal entries for the Pharoah Company transactions shown above. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when 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.)arrow_forwardPut everything in the general journalarrow_forwardSubject : Accounting what is the lowest subscription level of QuickBooks online that allows custom fields to be added to purchase orders?arrow_forward
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