Horngren's Financial & Managerial Accounting, The Financial Chapters (6th Edition)
6th Edition
ISBN: 9780134486840
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 4, Problem 4.12SE
Identifying accounts included on a post-dosing
For each account listed, identify whether the account would be included on a post-closing trial balance. Signify either Yes (Y) or No (N).
a. Office Supplies
b. Interest Expense
c.
d. Dividends
e. Service Revenue
f.
g. Rent Expense
h. Unearned Revenue
i. Accounts Payable
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For each account, identify whether it is included in a post-closing trial balance.
a. Store Equipment
b. Interest Payable
c. Notes Receivable
d. Rental Revenue
e. Commission Revenue
f. Accounts Receivable
Included in post-closing trial balance?
Identify which of the following accounts would be listed on the company’s Post-Closing TrialBalance.A. Accounts ReceivableB. Accumulated DepreciationC. CashD. Office ExpenseE. Note PayableF. Rent RevenueG. Retained EarningsH. Unearned Rent Revenue
2
3
1
4
5
7
8
9
10
12
Depreciation Expense
Accumulated Depreciation
Uneamed Revenue
Services Revenue
Insurance Expense
Prepaid Insurance
Salaries Payable
Cash
Prepaid Rent
Cash
Salaries Expense
Salaries Payable
Interest Receivable
Interest Revenue
Cash
Accounts Receivable (from consulting)
Cash
Unearned Revenue
Cash
Interest Receivable
Rent Expense
Prepaid Rent
Interest Expense
Interest Payable
1,400
4,300
3,300
4,500
2,000
3,700
5,400
4,900
9,000
6,000
3,000
1,700
1,400
4,300
3,300
4,500
2,000
3,700
5,400
4,900
9,000
6,000
3,000
1,700
Chapter 4 Solutions
Horngren's Financial & Managerial Accounting, The Financial Chapters (6th Edition)
Ch. 4 - Assets are listed on the balance sheet in the...Ch. 4 - Which of the following accounts would be included...Ch. 4 - Which situation indicates a net loss within the...Ch. 4 - Which of the following accounts is not closed? a....Ch. 4 - What do closing entries accomplish? a. Zero out...Ch. 4 - Which of the following is not a closing entry?Ch. 4 - Which of the following accounts may appear on a...Ch. 4 - Which of the following steps of the accounting...Ch. 4 - Clean Water Softener Systems has Cash of 600,...Ch. 4 - Which of the following statements concerning...
Ch. 4 - What document are financial statements prepared...Ch. 4 - Prob. 2RQCh. 4 - What does the statement of retained earnings show?Ch. 4 - Prob. 4RQCh. 4 - Why are financial statements prepared in a...Ch. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 8RQCh. 4 - Prob. 9RQCh. 4 - How could a worksheet help in preparing financial...Ch. 4 - If a business had a net loss for the year, where...Ch. 4 - Prob. 12RQCh. 4 - What are temporary accounts? Are temporary...Ch. 4 - What are permanent accounts? Are permanent...Ch. 4 - How is the Income Summary account used? Is it a...Ch. 4 - What are the steps in the closing process?Ch. 4 - If a business had a net loss for the year, what...Ch. 4 - What types of accounts are listed on the...Ch. 4 - List the steps of the accounting cycle.Ch. 4 - What is the current ratio, and how is it...Ch. 4 - What are reversing entries? Are they required by...Ch. 4 - Prob. 4.1SECh. 4 - Prob. 4.2SECh. 4 - Prob. 4.3SECh. 4 - Prob. 4.4SECh. 4 - Classifying balance sheet accounts For each...Ch. 4 - Using the worksheet to prepare financial...Ch. 4 - Prob. 4.7SECh. 4 - Prob. 4.8SECh. 4 - Prob. 4.9SECh. 4 - Prob. 4.10SECh. 4 - Prob. 4.11SECh. 4 - Identifying accounts included on a post-dosing...Ch. 4 - Identifying steps in the accounting cycle Review...Ch. 4 - Prob. 4.14SECh. 4 - Prob. 4.15SECh. 4 - E4-16 Preparing the financial statements
The...Ch. 4 - Prob. 4.17ECh. 4 - Prob. 4.18ECh. 4 - Prob. 4.19ECh. 4 - Prob. 4.20ECh. 4 - Prob. 4.21ECh. 4 - Prob. 4.22ECh. 4 - Prob. 4.23ECh. 4 - Prob. 4.24ECh. 4 - Prob. 4.25ECh. 4 - Prob. 4.26ECh. 4 - Prob. 4.27ECh. 4 - Prob. 4.28ECh. 4 - P4-29A Preparing financial statements including a...Ch. 4 - Prob. 4.30APCh. 4 - Prob. 4.31APCh. 4 - Prob. 4.32APCh. 4 - Prob. 4.33APCh. 4 - Prob. 4.34APCh. 4 - Prob. 4.35BPCh. 4 - Prob. 4.36BPCh. 4 - P4-37B Preparing a worksheet, financial...Ch. 4 - P4-38B Completing the accounting cycle from...Ch. 4 - Prob. 4.39BPCh. 4 - Prob. 4.40BPCh. 4 - Prob. 42CPCh. 4 - Prob. 43PSCh. 4 - Prob. 4.1CPCh. 4 - This comprehensive problem is a continuation of...Ch. 4 - Prob. 4.TICh. 4 - Prob. 4.1EICh. 4 - Prob. 4.1FSCCh. 4 - Prob. 4.1TP
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- Entry 4 5 6 7 8 CO 3 2 9 1 10 Explanation Interest Expense Interest Payable Depreciation Expense Accumulated Depreciation Unearned Revenue Services Revenue Insurance Expense Prepaid Insurance Salaries Payable Cash Prepaid Rent Cash Salaries Expense Salaries Payable Interest Receivable Interest Revenue Cash Journal Entries Cash expense. Accounts Receivable (from consulting) Unearned Revenue Cash Debit 1,300 4,400 3,600 3,700 2,000 4,500 5,600 5,400 8,200 7,100 2,200 Credit 1,300 4,400 3,600 3,700 2,000 4,500 5,600 5,400 8,200 7,100arrow_forwardPlease check my work For journal entries 1 through 12, indicate the explanation that most closely describes it. You can use explanations more than once. To record receipt of unearned revenue. To record this period's earning of prior unearned revenue. To record payment of an accrued expense. To record receipt of an accrued revenue. To record an accrued expense. To record an accrued revenue. To record this period's use of a prepaid expense. To record payment of a prepaid expense. To record this period's depreciation expense.arrow_forwardFor journal entries 1 through 12, indicate the explanation that most closely describes it. You can use explanations more than once. To record receipt of unearned revenue. To record this period's earning of prior unearned revenue. To record payment of an accrued expense. To record receipt of an accrued revenue. To record an accrued expense. To record an accrued revenue. To record this period's use of a prepaid expense. To record payment of a prepaid expense. To record this period's depreciation expense.arrow_forward
- The adjusting entry to account for estimated customer returns and allowances involves a a. credit to Estimated Returns Inventory b. credit to Customer Refunds Payable c. debit to Customer Refunds Payable d. debit to Estimated Returns Inventorarrow_forwardIdentify which of the following accounts would be included in a post-closing trial balance. Accounts Receivablearrow_forwardTOPIC: Rules of Debit and Credit Instruction: Identify the classification of account. And Choose the letter of the correct answer. Questions: 1. Other Revenue a. Assetsb. Liabilitiesc. Equityd. Income e. Expense 2. Prepaid Renta. Assetsb. Liabilitiesc. Equityd. Income e. Expense 3. Allowance for Doubtful Accountsa. Assetsb. Liabilitiesc. Equityd. Income e. Expense 4. Depreciationa. Assetsb. Liabilitiesc. Equityd. Income e. Expense 5. Delivery Equipmenta. Assetsb. Liabilitiesc. Equityd. Income e. Expense 6. Used Shop Suppliesa. Assetsb. Liabilitiesc. Equityd. Income e. Expense 7. Utilities Expensea. Assetsb. Liabilitiesc. Equityd. Income e. Expense 8. Salaries and Wagesa. Assetsb. Liabilitiesc. Equityd. Income e. Expense 9. Beverage Inventorya. Assetsb. Liabilitiesc. Equityd. Income e. Expense 10. Uncollectible Accounta. Assetsb. Liabilitiesc. Equityd. Income e. Expense 11. Landa. Assetsb. Liabilitiesc. Equityd. Income e. Expense 12. Accounts Receivablea. Assetsb. Liabilitiesc. Equityd.…arrow_forward
- How is the account Accounts Payable classified and what kind of balance should it have? Group of answer choices current liability, debit current liability, credit revenue, debit revenue, creditarrow_forwardIdentify the normal balance (debit [Dr] or credit [Cr]) for each of the following accounts: __________ Owner. Withdrawals. ________ Utilities Expense.arrow_forwardWhich of the following appears in the balance sheet accounts section of a pre-adjustment trial balance? A) Opening inventory B) Accrued expenses C) Consumable inventory D) Fixed depositarrow_forward
- Which item will appear on the credit side of the ledger account? a. Salary b. Drawings c. Service revenue d. Accounts receivablearrow_forwardDetermine which permanent accounts should be included in the post closing trial balance. Income Tax Expense Choose. Land Choose. Salaries Payable Choose. Accounts Receivable Choose. Salaries Expense Choose.arrow_forwardFor each account, indicate whether it appears in the general ledger or the subsidiary ledger Prepaid Rentarrow_forward
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