No SIM 2110 PM ezto.m Financial Accounting: Summer 2018 CCOUNTING HW-Chapter 3 Q

Question

No SIM 2110 PM ezto.m Financial Accounting: Summer 2018 CCOUNTING HW-Chapter 3 Questions 7-9 (of 9) IThe following information applies to the questions displayed below] The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented bel $ 12,000 150,000 6,000 30,000 400,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense $ 135,000 12,000 11,000 5,000 40,000 300,000 60,000 500,000 400,000 20,000 40,000 5,000 Rent Expense Depreciation Expense Interest Expense

Explanation / Answer

Bank Balance Company Balance Reason Deposit Recorded twice Subtract Add As we deduct amount from our book two times Interst Earned Add No Entry As Amount is credited in the Bank but we can not credited Deposit Outstanding Subtract Add As we add in our balance but deposit is not made properly Bank service Fees No entry Subtract As bank charges so we can also deduct

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