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3 years ago

The Unadjusted Trial Balance columns of a work sheet total $97,500. The Adjustments columns contain entries for the following:

Business

1 answer:

Roman55 [17]3 years ago

6 0

Answer:

The total of adjusted trial balance is $103,750

Explanation:

ADJUSTMENT EFFECT ON TRIAL BALANCE

Office supplies used during the period No change in total balance

Expiration of prepaid rent No change in total balance

Accrued salaries expense Increase in total balance

Depreciation expense Increase in total balance

Accrued service fees receivable Increase in total balance

Hence, Adjusted trial balance total = Unadjusted work sheet total + Accrued salaries expense + Depreciation expense +Accrued service fees receivable

$97,500 + $1,850 + $2,150 + $1,750

= $103,750

Thus, the total of adjusted trial balance is $103,750.

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n January 1, 2018, Waller Sales issued $ 20 comma 000 in bonds for $ 18 comma 300. These are eightminusyear bonds with a stated

spayn [35]

Answer:

$18,106.25

Explanation:

For computing the carrying value of the bonds , first we have to determine the discount amortization for 8 years which are shown below:

= (Issued amount - proceeds from the bonds) ÷ time period

= ($20,000 - $18,300) ÷ 8 years × 2 years

= $106.25

Now the carrying value would be

= Proceeds from the bonds + discount amortization for 8 years

= $18,000 + $106.25

= $18,106.25

Since the time period is 8 which are paid in semi-annual so we double the time period

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3 years ago

Q 8.3: When would a credit card holder be entitled to lower interest charges? A : When the card company calculates finance charg

Yanka [14]

Answer: Option C

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Hence if a card holder gets grace period to pay the interest before the interest accrues than it means he actually gets to pay lower interest that he could have paid before.

Hence from the above we can conclude that the correct option is C.

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3 years ago

In Charles Dickins' Christmas Carol which grumpy character says 'Bah Humbug'?

Sergio039 [100]

it's Ebenezer Scrooge

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3 years ago

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You've got your budget, credit history and saving in order. whats your next step before shopping for a home?

Softa [21]

Answer:

The correct answer is letter "A": Shop for a mortgage.

Explanation:

After setting a budget and starting a housing fund, checking your credit report and scores, and accruing a certain amount of money to make possible acquiring a house, the next step implies being pre-approved by a mortgage lender. This will give you an idea of how much money a bank might approve to lend you to purchase the property. Thus, after this and finding a Real Estate agent, <em>you can start checking what houses are available for purchase according to what you can afford.</em>

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3 years ago

Ayala Architects incorporated as licensed architects on April 1, 2017. During the first month of the operation of the business,

ArbitrLikvidat [17]

Answer: (1) journal Total Dr $27,282, Cr $27,282 (2) cash Account Dr: Total $21,823, Cr Balance c /d $19,613 Total $21,823, salary payable Total Dr $381, Cr $381,Account receivable Account Dr :Total $1,929 Cr Total $1,929, salary expense Account Dr Total $ 1,524 Cr: $1,524, common stock Total Dr : $18,270 Cr: Total $18,270, Supplies Account Total Dr : $1,320, Cr $1,320, Account Payable Total Dr :$1,320, Cr :Total $1,320, service revenue Total Dr : $4,771, Total Cr : $4,771, unearned revenue Total Dr :$712, Total Cr :$711, (3) Trial Balance Total Dr $24,767, Total Cr : $24,767

Explanation:

(1) The journal entry for the transaction will be

Apr 1 Dr : Cash $18,270, Cr : common stock $18,270

Apr1 Dr: salary payable$381,Cr: cash $381

Apr 2 No entry required

Apr 3 Dr : supplies $1,320, Cr : Account payable $1,320

Apr 10 Dr Account Receivable $1,929, Cr : service revenue $1,929

Apr 11 Dr cash$ 711,Cr: unearned revenue$ 711

Apr 20 Dr: Cash $2,842, Cr : service revenue $2,842

Apr 30 Dr : $ Account Payable $305 Cr : Cash $305

(2) The T Account will be

Cash Account

Dr common stock $18,270, unearned revenue $711, service revenue $2,842

Cr : salary payable $381, salary expense $1,524, Account payable $305,Bal c/d $19,613 Total Dr $21,823, Cr : $21,823

Salary payable Account

Dr : cash $381,Cr: Balance c/d $381 Total Dr $381,Cr :$381

Account Receivable Account

Dr: service revenue $1,929, Cr: Balance c/d $1,929 Total Dr $1,929, Cr $1,929

Salary expense Account

Dr: salary expense $1,524, Cr Balance c/d $1,524, Total Dr $1,524,Cr $1,524

Common Stock

Dr : Balance c /d $18,270, Cr :Cash $18,270 Total Dr $18,270, Cr $18,270

Supplies Account

Dr: Account payable $1,320, Cr Balance c /d $1,320, Total Dr $1,320, Cr $1,320

Account Payable

Dr: Cash $305,Balance c/d $1,015, Cr supplies $1,320, Total Dr $1,320, Cr $1,320

Service Revenue Account

Dr Balance c /d $4,771 Cr : Account Receivable $1,929, cash $2,842, Total Dr $4,771, Cr $4,771

Unearned Revenue Account

Balance c/d $711, Cr cash $711, Total Dr $711,Cr $711

(3) The trial balance as on 30/04/2017

Dr: Cash $19,613, salary payable $381, supplies $1,320, Account Receivable $1,929, salary expense $1,524 Total $24,767

Cr : Common Stock $18,270, Account Payable $1,015, service revenue $4,771, unearned revenue $711 Total $24,767

6 0

3 years ago