Prepare a trial balance listing accounts in proper sequence

Assignment Help Accounting Basics
Reference no: EM132463738

Question 1: Prepare a trial balance, listing the following accounts in proper sequence. The accounts (all normal balances) were taken from the ledger of Sophie Designs Co. on April 30, 2014.

Accounts Payable           $ 4,100              Rent Expense  $ 1,500

Accounts Receivable         3.450               Salary Expense  14,000

Cash                              6,700                Fees Earned      45,425

Capital Stock                 10,000                  Supplies           3,125

Dividends                       7,500              Supplies Expense    1,700

Equipment                    24,500             Utilities Expense      4,000

Miscellaneous Expense        850            Retained Earnings       7,800

  • appear on a balance sheet.

Reference no: EM132463738

Questions Cloud

Calculate and determine the cost of goods available for sale : Calculate and determine the cost of goods available for sale?the cost of goods sold?the cost of goods available?Bramble Company reports the month of June.
MBS520 Research Preparation for Business Assignment : MBS520 Research Preparation for Business Assignment Help and Solution - Murdoch University. Topic - Reasons For Teachers Leaving Their Profession In Bhutan
Prepare the entry to close the firms income summary account : Prepare the entry to close the firm's Income Summary account as of its December 31 year - end and to allocate the $249,000 net income to the partners
Determine the weighted-average number of shares : Determine the weighted-average number of shares that Nash Corporation would use in calculating earnings per share for the fiscal year ended:
Prepare a trial balance listing accounts in proper sequence : Prepare a trial balance listing the accounts in proper sequence. The accounts (all normal balances) were taken from the ledger of Sophie Designs Co
What is the required percentage increase in sales : What is the required percentage increase in sales from T-1 to compensate for lost margin from T-2, if total fixed costs can be reduced by $51,000?
BUS 302 Management Concepts Assignment : BUS 302 Management Concepts Assignment Help and Solution - Strayer University, USA. Complementary Partners - Discuss a tool or strategy a leader can adopt
Explaining how much US source income will generate : Write a letter to Gloria explaining how much U.S.-source income she will generate, if any, from her participation in these tournaments
Calculate the amount to be capitalised for the machine : Calculate the amount to be capitalised for the machine.However due to mishandling during installation a part was damaged and had to be replaced for $380.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Store contribution margin

The cost of goods sold in a retail store totaled $650,000. Fixed selling and administrative expenses totaled $115,000 and variable selling and administrative expenses were $420,000. If the store's contribution margin totaled $590,000, how much wer..

  Describe Convergence of US GAAP and IFRS

Describe the pros and cons of convergence between GAAP and IFRS.Provide recommendations on whether you agree or disagree on the proposal.

  Compute the company current income tax expense

Cass Corporation reported pretax book income of $10,000,000. Compute the company's current income tax expense for federal income tax purposes

  Prepare the journal entries for the given transactions

Prepare the journal entries for the following transactions. December 31, 2010 Make the appropriate entry for the GLF Company bonds

  Determine renteria cost of goods sold and gross profit

Cost of goods manufactured $265,000. For the month ended March 31, 2008 determine Renteria's: Cost of goods sold, Gross profit and Net income

  Can overestimation of risk also be detrimental

Examine how this relates to financial leverage. Can overestimation of risk also be detrimental

  Global financing and exchange rate

Choose one of the following topics. Prepare a minimum 1,050 word paper in which you analyze one of the following global financing and exchange rate topics:

  A company had net income of 219632 depreciation expense is

a company had net income of 219632. depreciation expense is 26812. during the year accounts receivable and inventory

  What interest rate was earned

A $100,000 certificate of deposit held for 60 days is worth $101,133.33. To the nearest tenth of a percent, what interest rate was earned?

  Identify the relevant tax issues

If Agnes should die before making the gift, her will stipulates that Stan will receive the stock. Identify the relevant tax issues that Agnes should consider in making her decision.

  Prepare journal entries to record the events on february

Bogscraft Company has outstanding 60,000 shares of $ 10 par value common stock and 25,000 shares of $ 20 par value preferred stock (8 percent). On February 1, the board of directors voted in favor of an 8 percent cash dividend on the preferred stock...

  Journal entry required to record the payment

A business purchases $ 40,000 merchandise on credit terms 2/10, n 30 on June 6, 2009. If it pays for the merchandise on June 15, 2009 what is the journal entry required to record the payment.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd