How much is cost to complete this accoutning HW with work shown? There are 8 problems
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Exercise 3-3 |
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The following trial balance of Scarlatti Corporation does not balance.
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SCARLATTI CORPORATION |
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Debit |
Credit |
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Cash |
$6,444 |
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Accounts Receivable |
5,506 |
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Supplies |
3,233 |
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Equipment |
6,366 |
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Accounts Payable |
$7,310 |
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Common Stock |
8,266 |
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Retained Earnings |
2,266 |
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Service Revenue |
5,466 |
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Office Expense |
4,586 |
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$26,135 |
$23,308 |
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An examination of the ledger shows these errors.
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1. |
Cash received from a customer on account was recorded (both debit and credit) as $1,846 instead of $2,116. |
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2. |
The purchase on account of a computer costing $2,791 was recorded as a debit to Office Expense and a credit to Accounts Payable. |
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3. |
Services were performed on account for a client, $2,516, for which Accounts Receivable was debited $2,516 and Service Revenue was credited $491. |
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4. |
A payment of $361 for telephone charges was entered as a debit to Office Expenses and a debit to Cash. |
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5. |
The Service Revenue account was totaled at $5,466 instead of $5,546. |
From this information, prepare a corrected trial balance.
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SCARLATTI CORPORATION |
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Debit |
Credit |
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$ |
$ |
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$ |
$ |
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Click if you would like to Show Work for this question: |
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Exercise 3-7 |
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A partial adjusted trial balance of Safin Company at January 31, 2012, shows the following.
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SAFIN COMPANY |
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Debit |
Credit |
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Supplies |
$1,100 |
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Prepaid Insurance |
3,600 |
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Salaries and Wages Payable |
$1,000 |
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Unearned Revenue |
950 |
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Supplies Expense |
950 |
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Insurance Expense |
600 |
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Salaries and Wages Expense |
2,000 |
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Service Revenue |
2,200 |
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Answer the following questions, assuming the year begins January 1.
(a) If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was purchased in January, what was the balance in Supplies on January 1?
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Beginning balance of supplies |
$ |
(b) If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased?
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Total premium |
$ |
The policy was purchased on 
(c) If $2,900 of salaries and wages was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2011?
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Beginning balance of salaries and wages payable |
$ |
(d) If $1,800 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2011?
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Beginning unearned service revenue December 31, 2011 |
$ |
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Exercise 3-9 |
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Selected accounts of Leno Company are shown below.
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Supplies |
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Beg. Bal. |
760 |
10 ⁄ 31 |
600 |
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Salaries and Wages Expense |
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10 ⁄15 |
890 |
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10 ⁄31 |
660 |
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Unearned Service Revenue |
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10 ⁄31 |
410 |
10 ⁄20 |
680 |
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Service Revenue |
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10 ⁄17 |
2,800 |
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10 ⁄31 |
3,560 |
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10 ⁄31 |
410 |
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Accounts Receivable |
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10 ⁄ 17 |
2,800 |
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10 ⁄31 |
3,560 |
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Salaries and Wages Payable |
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10 ⁄31 |
660 |
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Supplies Expense |
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10 ⁄31 |
600 |
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From an analysis of the T-accounts, reconstruct the October transaction entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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Date |
Account Titles and Explanation |
Debit |
Credit |
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10/15 |
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10/17 |
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10/20 |
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From an analysis of the T-accounts, reconstruct the adjusting journal entries that were made on October 31, 2012. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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No. |
Account Titles and Explanation |
Debit |
Credit |
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1. |
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(To record the use of supplies during October) |
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2. |
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(To record revenue for services performed for which |
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(To record liability for accrued payroll) |
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(To record service revenue earned) |
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Click if you would like to Show Work for this question: |
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Exercise 3-16 |
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Presented below are selected account balances for Alistair Co. as of December 31, 2012.
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Inventory 12/31/12 |
$60,700 |
Cost of Goods Sold |
$228,100 |
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Common Stock |
75,220 |
Selling Expenses |
17,970 |
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Retained Earnings |
48,280 |
Administrative Expenses |
38,320 |
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Dividends |
19,640 |
Income Tax Expense |
30,340 |
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Sales Returns and Allowances |
12,180 |
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Sales Discounts |
15,990 |
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Sales Revenue |
412,910 |
Prepare closing entries for Alistair Co. on December 31, 2012. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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No. |
Account Titles and Explanation |
Debit |
Credit |
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1. |
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(To close accounts with credit balances) |
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2. |
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(To close accounts with debit balances) |
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3. |
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(To close net income / (loss)) |
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(To close dividends) |
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Click if you would like to Show Work for this question: |
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Exercise 3-17 |
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Snyder Miniature Golf and Driving Range Inc. was opened on March 1 by Mickey Snyder. The following selected events and transactions occurred during March.
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Mar. 1 |
Invested $60,250 cash in the business in exchange for common stock. |
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3 |
Purchased Michelle Wie’s Golf Land for $40,950 cash. The price consists of land $10,280; building $23,780; and equipment $6,890. (Make one compound entry.) |
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Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,770. |
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Paid cash $1,540 for a one-year insurance policy. |
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Purchased golf equipment for $2,740 from Young Company, payable in 30 days. |
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18 |
Received golf fees of $1,410 in cash. |
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Declared and paid a $1,900 cash dividend. |
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30 |
Paid wages of $800. |
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30 |
Paid Young Company in full. |
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31 |
Received $930 of fees in cash. |
Journalize the March transactions. (Use Service Revenue account to record fees.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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Date |
Account Titles and Explanation |
Debit |
Credit |
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Mar. 1 |
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Mar. 3 |
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Mar. 5 |
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Mar. 6 |
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Mar. 10 |
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Mar. 18 |
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Mar. 25 |
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Mar. 30 |
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Mar. 30 |
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Mar. 31 |
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Click if you would like to Show Work for this question: |
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Exercise 3-20 |
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When the accounts of Constantine Inc. are examined, the adjusting data listed below are uncovered on December 31, the end of an annual fiscal period.
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The prepaid insurance account shows a debit of $6,480, representing the cost of a 2-year fire insurance policy dated August 1 of the current year. |
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On November 1, Rent Revenue was credited for $2,904, representing revenue from a subrental for a 3-month period beginning on that date. |
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Purchase of advertising supplies for $820 during the year was recorded in the Advertising Expense account. On December 31, advertising supplies of $320 are on hand. |
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Interest of $830 has accrued on notes payable. |
Prepare the following in general journal form. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select “No entry” for the account titles and enter 0 for the amounts.)
(a) The adjusting entry for each item.
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No. |
Account Titles and Explanation |
Debit |
Credit |
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1. |
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2. |
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3. |
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4. |
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(b) The reversing entry for each item where appropriate.
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Account Titles and Explanation |
Debit |
Credit |
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1. |
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2. |
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3. |
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4. |
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Click if you would like to Show Work for this question: |
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