On December 31 adjusting entries for the following transactions. 1. Fees accrued

Question

On December 31 adjusting entries for the following transactions. 1. Fees accrued but not billed, $6,300. 2. The Supplies account balance on December 31, $4,750; Supplies on hand, $960. 3. Wages accrued but not paid, $2,700. 4. Depreciation of office equipment, $1,650. 5. Rent expired during year, $10,800. need help with a general journal The balances for the accounts listed below appeared in the Adjusted Trial Balance columns of the work sheet. Indicate whether each balance should be extended to (a) the Income Statement columns or (b) the Balance Sheet columns. 1. Salaries Payable 2. Fees Earned 3. Accounts Payable 4. Common Stock 5. Supplies Expense 6. Unearned Rent 7. Retained Earnings 8. Equipment 9. Accounts Receivable 10. Accumulated Depreciation 11. Salary Expense 12. Depreciation Expense The following accounts were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for April 30, for Finnegan Co.: Accounts Amount Accumulated Depreciation $32,000 Fees Earned 78,000 Depreciation Expense 7,250 Rent Expense 34,000 Prepaid Insurance 6,000 Supplies 400 Supplies Expense 1,800 Required: Prepare an income statement. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. You will not need to enter colons (:) on the income statement. On January 1, Hannah's Pool Service Company had a retained earnings balance of $252,000. During the year Hannah's stockholders bought an additional $32,000 in common stock and received dividends of $52,200. For the year ended December 31 Hannah's Pool Service Company reported a net income of $73,200. Required: Prepare a retained earnings statement for the year ended December 31. Refer to the Instructions and the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. “Less” or “Plus” will automatically appear if it is required. Be sure to complete the statement heading. The following data were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for April 30 for Abigail Company: Accounts Amount Accumulated Depreciation $42,400 Prepaid Rent 6,800 Supplies 850 Unearned Fees 7,310 Trucks 49,300 Cash 3,400 Common Stock 2,000 Retained Earnings ? Required: Prepare a classified balance sheet. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. You will not need to enter colons (:) on the Balance Sheet. On the basis of the following data taken from the Adjusted Trial Balance columns of the work sheet for the year ended March 31 for Banes Domino's Corporation. Banes Domino's Corporation ADJUSTED TRIAL BALANCE December 31, 20-- ACCOUNT TITLE DEBIT CREDIT 1 Cash 30,000.00 2 Accounts Receivable 45,200.00 3 Supplies 5,000.00 4 Equipment 169,900.00 5 Accumulated Depreciation 32,000.00 6 Accounts Payable 12,500.00 7 Common Stock 51,600.00 8 Retained Earnings 20,000.00 9 Dividends 47,000.00 10 Fees Earned 510,000.00 11 Salary Expense 244,500.00 12 Rent Expense 48,000.00 13 Depreciation Expense 25,000.00 14 Supplies Expense 9,500.00 15 Miscellaneous Expense 2,000.00 16 Totals 626,100.00 626,100.00 Required: Journalize the four closing entries. Refer to the Chart of Accounts for exact wording of account titles.

Explanation / Answer

1. Fees accrued but not billed, $6,300.
Accounts Receivable $6,300
Fees Revenue $6,300

2. The Supplies account balance on December 31, $4,750; Supplies on hand, $960

Supplies Expense($4750-960) $3,790

Supplies $3,790

3. Wages accrued but not paid, $2,700.
Wages Expense $2,700
Wages Payable $2.700
4. Depreciation of office equipment, $1,650
Depreciation Expense $1,650
Accumulated Depreciation - Office Equip. $1,650
5. Rent expired during year, $10,800.
Rent Expense $10,800
Prepaid Rent' $10,800
2.The balances for the accounts listed below appeared in the Adjusted Trial Balance columns of the work sheet. Indicate whether each balance should be extended to (a) the Income Statement columns (IS) or (b) the Balance Sheet columns. B/S
1. Salaries Payable B/S
2. Fees Earned IS
3. Accounts Payable B/S
4. Common Stock B/S
5. Supplies Expense IS
6. Unearned Rent B/S
7. Retained Earnings B/S
8. Equipment B/S
9. Accounts Receivable B/S
10. Accumulated Depreciation B/S
11. Salary Expense IS
12. Depreciation Expense IS

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