T-accounts-trial balance of dewitt

Assignment Help Accounting Basics
Reference no: EM13256469

Selected transactions from the journal of Dewitt Inc. during its first month of operations are presented here.

Date

Account /Description Debit Credit
Aug. 1 Cash $3,490

Common Stock
$3,490
Aug. 10 Cash $1,850

ServiceRevenue
$1,850
Aug. 12 Office Equipment $6,130

Notes Payable
$4,630

Cash
$1,500
Aug. 25 Accounts Receivable $3,130

ServiceRevenue
$3,130
Aug. 31 Cash $460

Accounts Receivable
$460

By posting the above transactions to T-Accounts complete the following trial balance.

Reference no: EM13256469

Questions Cloud

Design a pulse-mode asynchronous sequential machine : A tollgate (vending machine) controller accepts only nickels (5c), dimes (10c), and quarts (25c), and generates control signal to actuate the lever to open the tollgate (or dispense a chosen item in case of vending machine) once 35c or more are re..
Implications of williamsns managerial discretion model : What are the implications of Williamsn's managerial discretion model and Baumol's sales maximization model
To change embedded in the dupont story : To what extent are the following approaches to change embedded in the DuPont story? Justify your answer, providing specific examples):
Calculate the collision frequency : In a 13.56 MHz RF plasma operating at a pressure of 250 mTorr, assume Te = 20,000 K. What is the typical mean free path between electron-gas collisions? Calculate the collision frequency. How many electron collisions will occur during each applied fi..
T-accounts-trial balance of dewitt : Selected transactions from the journal of Dewitt Inc. during its first month of operations are presented here. By posting the above transactions to T-Accounts complete the following trial balance.
Problem based on departmental break-up : Factory overhead for the year is estimated at Rs776,000. Departmental break-up is provided below:
Find retained earnings balance and total stockholders equity : Assume that the company declares and immediately distributes a 100%stock dividend. Find the retained earnings balance and the total stockholders equity? and also the shares outstanding.
Wal-mart uses the tagline : Wal-Mart uses the tagline "save money, live better" this is an example of product positioning by _. a. use or application b. cultural symbol c. price-quality relationshipd. product user.
What is the invoice price : You purchase a bond with a coupon rate of 7 percent, semiannual coupons, and a clean price of $1,011. If the next coupon payment is due in four months, what is the invoice price?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Browns break-even point in sales

Brown Company's contribution margin ratio is 24%. Total fixed costs are $84,000. What is Brown's break-even point in sales dollars?

  Operating business during the tax-filing season

Susan generated $55,000 of net earnings from the conduct of a tax preparation business that she operated during the tax-filing season. She also received wages of $60,000 from her full-time job. Compute the self-employment taxes due for 2010.

  Mca computing least squares regression estimates

Draw a scatter diagram of the airport costs. Compute the least spuares regression estimates of the variable and fixed cost components in the airport cost behavior pattern.

  Journal entries recording employee admission

William and Frank are partners whose capital balances are $400,000 and $300,000 and who share profits 3:2. Due to a shortage of cash, William and Frank agree to admit Sammy to the firm.

  Issuance of the bonds

Issuance of the bonds. Accrual of interest and amortization of bond discount for the year, on December 31, using the straight-line method.

  Recognizing the gain-loss by partners

What is each partners beginning putside basis and how much gain(loss) must the partners recognize in 2010 when Picture Perfect was formed?

  Fixed asset turnover-returns-allowances

During 2011, Company X sells 500,000 units for $8 each. Sales discounts are $100,000 and sales returns and allowances are $300,000. The company reported a total of $710,000 in fixed assets on January 1, 2011 and $890,000 in fixed assets on Decembe..

  Proper year-end adjustment for the expired insurance

Waterfalls Corporation purchased a one-year insurance policy in January 2009 for $60,000. The insurance policy is in effect from March 2009 through February 2010. If the company neglects to make the proper year-end adjustment for the expired insur..

  Percentage of the total joint costs

If the selling prices of finished products Y and Z remain constant, the percentage of the total joint costs allocated to product Y and product Z would

  Carrying value of montana inventory

Montana Co. has determined its year-end inventory on a FIFO basis to be $600,000. Information pertaining to that inventory is as follows: What should be the carrying value of Montana's inventory?

  Transactions in the divorce agreement affect

In 2010, he made six payments. How do the transactions in the divorce agreement affect Arnold's and Barbara's taxable income.

  Conflict between need for personal privacy-confidentiality

Discuss the conflict between the need for personal privacy and confidentiality in banking transactions and the need for the government to curtail money laundering activities.

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