Prepare in journal form without explanations the end of

Assignment Help Accounting Basics

Reference no: EM13485473

The account balances appearing on the trial balance (below) were taken from the general ledger of Flop's Copy Shop at September 30, 2012.

Additional information for the month of September which has not yet been recorded in the accounts is as follows:

(a)A physical count of supplies indicates $400 on hand at September 30.

(b)The amount of insurance that expired in the month of September was $300.

(c)Depreciation on equipment for September was $500.

(d)Rent owed on the copy shop for the month of September was $400 but will not be paid until July.

Flop's Copy Shop Trial Balance For the Month Ended September 30, 2012
Account Titles	Debit	Credit
Cash	$1,000
Supplies	1,100
Prepaid Insurance	2,200
Equipment	24,000
Accum. Depreciation- Equipment		$4,500
Accounts Payable		2,400
Notes Payable		4,000
Flop's Capital		15,300
Flop's Drawings	2,400
Service Revenue		4,900
Utilities Expense	400
Totals	$31,100	$31,100

Instructions:

Prepare in journal form, without explanations, the end of month adjusting entries for Flop's Copy Shop for the month of September.
Prepare a partial adjusted trial balance for the accounts provided.
Prepare in journal form, without explanations, the end of month closing entries for Flop's Copy Shop for the month of September.

Reference no: EM13485473

Questions Cloud

Eplain why a short hedgers position improves when the : explain why a short hedgers position improves when the basis strengthens unexpectedly and worsens when the basis

There were no other differences between accounting income : comet industries inc. began operations in 2010. one of the products it sells is pre-fabricated warehouse buildings on

Give three reasons that the treasurer of a company might : give three reasons that the treasurer of a company might not hedge the companys exposure to a particular

What is the hedge that minimizes risk what should the : a company has a 20 million portfolio with a beta of 1.2. it would like to use futures contracts on the sampp 500 to

Prepare in journal form without explanations the end of : the account balances appearing on the trial balance below were taken from the general ledger of flops copy shop at

Explain what is meant by a perfect hedge does a perfect : explain what is meant by a perfect hedge. does a perfect hedge always lead to a better outcome than an imperfect

Bargain wholesalers sell pet supplies to retailers : bargain wholesalers sell pet supplies to retailers including pet world supplies. bargain wholesalers uses perpetual

Prepare the journal entry to record each separate : prepare the journal entry to record each separate transaction. a on march 1 dvd co. issues 44500 shares of 4 par value

What are five enterprise applications in saps business : what are five enterprise applications in saps business

User Account

All Pages