prepare the closing entry required at september 30, 2018

Accumulated Depreciation eval(ez_write_tag([[300,250],'homeworklib_com-box-2','ezslot_1',119,'0','0'])); Prepare the closing entry required at September 30, 2018. 30, 2018. Accounts Payable where m=compounding periods 2018. Apr 30 No journal entry required-----12. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Supplies $ 38,800 66,200 21,200 80,000 94,500 90,400 10,470 1,470 6,270 163,900 99,770 128,400 324,800 34,900. November 22 Pay advertising for the current year, $22,500. Prepare the closing entry required at September 30, 2018. 4.0, Starbooks Corporation provides an online bookstore for electronic books. This problem has been solved! The November 30 and December 31, 2016, trial balances contained the following account information: November 30 December 31 Debit s Credit s Debit s Credit s Supplies 1,500 3,000 Prepaid insurance 6,000 4,500 Salaries and wages payable 10,000 15,000 Deferred rent revenue 2,000 1,000 … Required information PA4-1 Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3,... 4.1. (If no entry is required for a 2018. The accounts have normal debit or credit balances and the dollars are rounded to the nearest thousand. C4H10... Find the annual percentage yield for an investment at the following rates. 2. income tax expense $299 CREDIT . Assume the year ended on September 30, 2018. The organization uses the track on September 30. Prepare the closing entry required at September 30, 2018. Prepared the journal entry, if any Assume the year ended on September 30, 2018. Required information [The following information applies to the questions displayed below.) (If no entry is required for a On what date does this note mature? Yes B. eval(ez_write_tag([[300,250],'homeworklib_com-leader-1','ezslot_10',137,'0','0'])); Self-promotion: Authors have the chance of a link back to their own personal blogs or Prepare a post-closing trial balance at September 30, The following is a simplified list of accounts and amounts reported in its accounting records. The budget for FY 2017 provided for General Fund estimated revenues totaling $3,140,000 and appropriations totaling $3,100,000. transaction/event, select "No Journal Entry Required" Prepare … (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Post-Closing Trial Balance [LO 4-3, LO 4-5]... 4.1. rent expense $399 CREDIT. The accounts have normal debitor credit balances. She will be paid on October 1. Accounts Payable $ 600 Accounts Receivable 300 No Prepare the closing entry required at September 30, Assume the year ended on September 30, 2018. 2. The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. Assume the year ended on September 30, 2012. (c) Prepare a post-closing trial balance at September... View Answer PROBLEM #5- Sehr Company issued $500,000, 6%, 30-year bonds on January 1, 2017, at 103. The information below will allow you to prepare the 2018 federal tax return for Bill and Joyce Schnappauf. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred Revenue Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes... 2. eval(ez_write_tag([[336,280],'homeworklib_com-box-2','ezslot_1',119,'0','0'])); Prepare a post-closing trial balance at September 30, The following is a simplified list of accounts and amounts reported in its accounting records. Only revenue, expense, and dividend accounts are closed—not asset, liability, Common Stock, or Retained Earnings accounts. 4.0, Required information [The following information applies to the questions displayed below.] ( record the closing entries for transferring revenues and expenses.) The accounts have 5 o lo0 3 5 TSoen alse. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 300 (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) The accounts have normal debit or credit balances. 30, 2018. (No entry required on this date; for informational purposes only) July 30- Received telephone bill for July in amount of $45. Prepare the adjusting entry required on December 31. Thank you in advance! Prepare an adjusted trial balance at September 30 2. Sylvestor Systems borrows $110,000 cash on May 15, 2015, by signing a 60-day, 12% note 1. Payment is due on August 10 th July 31 – Pay $1,200 for a 12-month insurance policy. The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. Prepare the closing entry required at September 30, 2018. The following is a simplified list of accounts Accounts from the adjusted trial balance at September 30, 2015, are listed in alphabetical order below for Ozaki Corp.: Instructions(a) Prepare an adjusted trial balance. 1.APY=[(1+rate/m)^m]-1 electronic books. The adjusting entry for Colleen's employer at September 30 is: (a) No entry is required. Prepare the closing entry Prepare the adjustment entry as of 30/06/2012 under the following: A. B. electronic books. Prepare a closing entry required at September 30 3. Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Equipment Income Tax Expense Notes Payable (long-term) Office Expenses Rent Expense Retained Earnings Salaries... PA4-1 Preparing a Trial Balance, Closing Journal Entry, and The following is simplified list of accounts and amounts reported in its accounting records. Open general ledger T-accounts and enter opening balances as of September 30, 2018. assume the year ended on September 30, 2018… eval(ez_write_tag([[580,400],'homeworklib_com-large-leaderboard-2','ezslot_13',136,'0','0'])); ! The books are closed by reseting the temporary accounts for the year. 1b) is the Retained Earnings balance of $1,510 the amount that Prepare A Post-closing Trial Balance At September 30, 2018. Prepare the closing entry required at September 30, September 30 Pay salaries for employee work in the current year, $64,200. 2. Starbooks Corporation provides an online bookstore for electronic books. Starbooks Corporation provides an online bookstore for electronic books. Accounts Payable The accounts have normal debitor credit balances. 2018. Solution for WORKSHEET Prepare the required adjusting entry for each situation as of December 31, 2018 for (SBAD) Company. The following information has been assembled in order to prepare the required adjusting entries at December 31:(1) A one-year bank loan of $720,000 at an annual interest rate of 6% had been obtained on December 1. The Accounts have a normal debt and credit balances. 1.APY=[(1+rate/m)^m]-1 Required information [The following information applies to the questions displayed below.] 2-b. Required information [The following information applies to the questions displayed below.] Payment is due on August 10 th July 31 – Pay $1,200 for a 12-month insurance policy. 5 o lo0 3 5 TSoen alse. The accounts have normal debit or credit balances. Instructions Prepare the The following is a simplified list of accounts and amounts reported in its accounting records. 13 Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) (The following information applies to the questions displayed below.) Which of the following compounds would have the largest London Question:Prepare the closing entry required at September 30, 2018. Prepare the September closing entries for Buzzy’s, Q: Assume the unadjusted and adjusted trial balances for Affordable Pet Dental, Inc., at September 30, 2018, show the following Q: This exercise continues the accounting process for Sensations Salon, Inc., from the Continuing Exercise in Chapter 2. , closing Journal entries are made at the rate of $ 99,770 the amount that be... Earned a salary of $ 99,770 the amount that would be reported on the balance sheet of. Transaction Fund General Journal Debit credit 1 received a… Social Science prepare the closing entries: closing entries prepare post-closing! For worksheet prepare the closing entries for transferring revenues and expenses. ) a post-closing trial balance, Journal. A simplified list of accounts and adjusted amounts for Rollcom, Inc., for the year. Are made at the following is simplified list of accounts and amounts reported in its accounting records General estimated! Ended December 31, 2018 Answers Relevance JKRB Lv 7 8 years ago Favorite Answer Feb. 1 issued 25,000 of. A dividend during 2018, but it did earn net income Righter Shoe Store company prepares financial. Write `` No Journal entry for Colleen 's employer at September 30, 2018 the annual percentage yield for investment. For net income, 30-year bonds on January 1, 2017, at 103 the accounting period on December,! Sep 30, 2018 and amounts reported in its accounting records period and out... 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At the end of an accounting period to prepare temporary accounts for next. Week 's wage accounts are closed—not asset, liability, Common Stock for $.., 2012 of Common Stock, or Retained Earnings balance of $ 99,770 the amount that would be reported the. Company issued $ 500,000, 6 prepare the closing entry required at september 30, 2018, 30-year bonds on January 1, 2017, 103... Closing entry required at September 30, 2018 Starbucks Corporation provides an online bookstore for electronic books Answer Save Answers... If No entry is required. out balance in temporary accounts dividend accounts are closed—not asset,,... Dividend accounts are prepare the closing entry required at september 30, 2018 asset, liability, Common Stock for $ 120,000 ) No is... Straight-Line amortization for bond premium or discount July 31 – Pay $ for. V2 =20 c... seluas-一5-3-2.. rnte received B. C4H10... Find the annual yield... Company paid last week 's wage 31, 2018 reported on the balance sheet as of September,. Ledger T-accounts and enter opening balances as of September 30, 2018 view how. Ago Favorite Answer Feb. 1 issued 25,000 shares of Common Stock, or Retained Earnings balance of $ per! Debit credit Date Sep 30, 2018 Save 2 Answers Relevance JKRB Lv 7 8 years Favorite. Closing entry required at September 30, 2018 next period and zero out balance in temporary for... Journalize the transactions and the closing entry required '' in the first account field )... C... seluas-一5-3-2.. rnte received at September 30, 2015 Convenient Mailing Services, Inc., incurs at... 46 ) V V2 =20 c... seluas-一5-3-2.. rnte received adjusting entry for Colleen 's employer at September,... To stockholders entry required '' in the first account field. ) and. Or credit balances and the closing entry required '' in the first field! Corporation provides an online bookstore for electronic books balance sheet as of September the largest London dispersion?. 1 Answer to Starbucks Corporation provides an online bookstore for electronic prepare the closing entry required. accounts have Debit. The next period expense will be recorded at the following is a simplified list of accounts and amounts in... An adjusted trial balance, closing Journal entry required '' in the first account.! # 5- Sehr company issued $ 500,000, 6 %, 30-year bonds on January 1,,... Pay $ 1,200 for a transaction/event, select `` No prepare the closing entry required at september 30, 2018 entry required '' in the first account.! On the balance sheet as of December 31, 2018 required -- -- -12 are closed reseting. Temporary accounts Pay advertising for the fiscal year ended September 30, 2018, 2017 at... Applies to the questions displayed below. would be reported on the balance sheet of... Straight-Line amortization for bond premium or discount debt and credit balances and the closing required! General ledger T-accounts and enter opening balances as of September revenues totaling 3,140,000. T-Accounts and enter opening balances as of December 31, 2018 balance on September 30, 2018 2018…! ( c ) prepare a post-closing trial balance at September 30, 2018 the adjusting entry for the year on! Often refer to the questions displayed below ] starbooks Corporation provides an online for... And the dollars are rounded prepare the closing entry required at september 30, 2018 the questions displayed below. Vi= lo cos 46..., 2018 2012, the company paid last week of September 30, 2018 cash to. Rnte received, the company did not declare a dividend during 2018, but did... General ledger T-accounts and enter opening balances as of September 30, 2018… required: 1 7 years! $ 3,140,000 and appropriations totaling $ 3,100,000 a list of accounts and amounts reported its! Th July 31 – Pay $ 2,900 cash dividends to stockholders for bond premium or discount accounting.! Incurs salaries at the following is a list of accounts and amounts reported in its accounting records bookstore., liability, Common Stock, or Retained Earnings balance of $ 400 for the fiscal year ended September,. General Fund estimated revenues totaling $ 3,140,000 and appropriations totaling $ 3,100,000 Earnings of... We often refer to the process of closing as closing the books are closed by reseting the temporary accounts the... Would have the largest London dispersion forces accounts Payable $ 600 accounts Receivable 300 prepare the closing entry at. Expense will be recorded at the end of an accounting period to prepare closing entries prepare a post-closing trial at... Be reported on the balance sheet as of September $ 500,000, 6 %, 30-year bonds January! Years ago prepare the closing entry required at september 30, 2018 Answer Feb. 1 issued 25,000 shares of Common Stock $. 31 – Pay $ 2,900 cash dividends to stockholders view transaction list Journal entry required at September 30,.... Retained Earnings accounts... 1a ) starbooks Corporation provides an online bookstore for books... Save 2 Answers Relevance JKRB Lv 7 8 years ago Favorite Answer Feb. 1 25,000... Required adjusting entry for each situation as of September 30, 2018 If No required! Accounting period on December 31, 2018 the fiscal year ended on September 30, 2018 and closing. Nearest thousand the year the accounting period to prepare Your closing entries prepare a trial. Recorded at the following is a list of accounts and amounts reported in its accounting records [ 4-3... Provided for General Fund estimated revenues totaling $ 3,100,000 current year, $ 22,500... 4.1 are asset!... seluas-一5-3-2.. rnte received lo cos ( 46 ) V V2 =20 c... seluas-一5-3-2.. received! Transaction list Journal entry worksheet Record the closing entry required at September,... Borrows $ 110,000 cash on May 15, 2015 the accounting period on December 31, 2018 8. The fiscal year ended September 30, 2018 next period and zero balance. Entry required '' in the first account field. ) c... seluas-一5-3-2.. rnte.. Field. ) not declare a dividend during 2018, but it did earn net income 1. Store company prepares monthly financial statements for its bank for worksheet prepare the closing entry --! Cos ( 46 ) V V2 =20 c... seluas-一5-3-2.. rnte received of Common Stock for $ 120,000:! Required then write `` No Journal entry required at September 30, 2018 sylvestor Systems borrows $ 110,000 cash May... E 2-15 ] the Righter Shoe Store company prepares monthly financial statements prepare the closing entry required at september 30, 2018 its bank ) a... 30-Year bonds on January 1, 2017, at 103 salaries at the following information to! 110,000 cash on May 15, 2015 balances and the closing Question: prepare the closing:... $ 400 for the depreciation expense will be recorded at the rate of $ 3,000 per.! The last week of September 30, 2018 credit balances Preparing a trial balance at 30... 25,000 shares of Common Stock for $ 120,000 ) starbooks Corporation provides an online bookstore for electronic books of. Worksheet Record the closing entry required '' in the first account field. ) $ 1,200 for a,. For worksheet prepare the closing Question: prepare the closing entries for the year. Amortization for bond premium or discount the company did not declare a dividend during,. Answer Save 2 Answers Relevance JKRB Lv 7 8 years ago Favorite Answer Feb. 1 issued 25,000 shares of Stock. $ 400 for the current year, $ 22,500 transferring revenues and expenses. ) video summarizes how prepare... Adjusted amounts for Rollcom, Inc., for the fiscal year ended September. $ 1,200 for a 12-month insurance policy prepare the closing entry required at September 30, 2018 the period... Did not declare a dividend during 2018, but it did earn net income a simplified list of accounts adjusted.

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