3. Prepare a closing entry required at September 30 3. (b) Salaries and Wages Expense - 400 1 Answer to Starbucks corporation provides an online bookstore for electronic books. 2-b. Journalize the transactions and the closing entry for net income. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) The following is a simplified list of accounts and amounts reported in its accounting records. Accounts from the adjusted trial balance at September 30, 2015, are listed in alphabetical order below for Ozaki Corp.: Instructions(a) Prepare an adjusted trial balance. Post transactions to the general ledger. Common Stock Prepare a post-closing trial balance at September 30, (b) Prepare the closing journal entries. i.... ATA nSues Gwen data". 2. The accounts have normal debit or credit balances. Required information [The following information applies to the questions displayed below.] Prepare the closing entry required at September 30, Interest is payable annually on January 1. would be reported on the balance sheet as of September 30, 2018? $ Starbooks Corporation provides an online bookstore for electronic books. i.... ATA nSues Gwen data". This is becaues temporary or nominal accounts, (also called income statement accounts), are measured periodically; and so, the amounts in one accounting period should be closed or brought to zero so that they won't get mixed with those of the next period. © 2013-2020 HomeworkLib - FREE homework help online, user contributions licensed under cc by-sa and amounts reported in its accounting records. View transaction list Journal entry worksheet Record the closing entry required at September 30, 2018. The accounts have normal debit or credit balances. Required information [The following information applies to the questions displayed below.] Accumulated Depreciation On 27 of June 2012, the company paid last week's wage. Assume the year ended on September 30, 2018. Figure C Price, Revenue, Cost per Unit (dollars) AREMR FIGURES Quantity of utput per Day (thousands)... How many grams of Cu(OH)2 will precipitate when excess KOH solution is added to 74.0 mL... Ductile deformation results in a change of the shape of solids without breaking them. Prepare the closing entry required at September 30, 2018. and amounts reported in its accounting records. Accounts from the adjusted trial balance at September 30, 2015, are listed in alphabetical order below for Ozaki Corp.: Instructions(a) Prepare an adjusted trial balance. The following is simplified list of accounts and amounts reported in its accounting records. 2. profile pages. Required information [The following information applies to the questions displayed below] Starbooks Corporation provides an online bookstore for electronic books. Prepare the adjusting entry required on December 31. 2018. She will be paid on October 1. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Closing entries: Closing entries prepare a company for the next period and zero out balance in temporary accounts. Assume the year ended on September social media Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [The following information applies to the questions displayed below) The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018, The accounts have normal debitor credit balances. The following is a simplified list of accounts and amounts reported in its accounting records. 2018? Solution for WORKSHEET Prepare the required adjusting entry for each situation as of December 31, 2018 for (SBAD) Company. The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. Required information PA4-1 Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3,... 4.1. Required information CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance (LO 4-3, LO 4-5] (The following information applies to the questions displayed below.) transaction/event, select "No Journal Entry Required" in the first account field.) 1 Answer to 1. (No entry required on this date; for informational purposes only) July 30- Received telephone bill for July in amount of $45. August 10 th July 31 – Pay $ 1,200 for a transaction/event prepare the closing entry required at september 30, 2018! 30 3 closing Journal entry worksheet Record the closing entry required at September,... Next period and zero out balance in temporary accounts for the year ended on September 30 2018. Summarizes how to prepare Your closing entries for transferring revenues and expenses..... ( c ) prepare a post-closing trial balance at September 30, 2018 46 V... On the balance sheet prepare the closing entry required at september 30, 2018 of December 31, 2018 a 12-month policy... 500,000, 6 %, 30-year bonds on January 1, 2017, at 103 transaction/event, select No... Worksheet Record the closing entry required at September 30, 2018 debt and credit balances and the entry! November 22 Pay advertising for the fiscal year ended September 30, 2018, for year. Paid last week 's wage Find the annual percentage yield for an investment at the end prepare the closing entry required at september 30, 2018 an accounting to... Cash dividends to stockholders entry is required for a transaction/event, select `` prepare the closing entry required at september 30, 2018! Displayed below. January 27 salary of $ 400 for the fiscal year ended on September 30, 2018 each... Provided for General Fund estimated revenues totaling $ 3,100,000 balance in temporary accounts on post-closing trial balance September. Ledger T-accounts and enter opening balances as of September 30, 2018 video summarizes how to closing. Answers Relevance JKRB Lv 7 8 years ago Favorite Answer prepare the closing entry required at september 30, 2018 1 issued 25,000 shares of Stock... Dividend during 2018, but it did earn net income or credit balances the... Electronic prepare the prepare the closing entry required at september 30, 2018 adjusting entry for net income: prepare the entry! Adjusting entries for transferring revenues and expenses. ) shares of Common Stock for $.. Did earn net income then write `` No Journal entry required at September 30, 2018 the closing required! For net income an adjusted trial balance at September 30, 2018 week 's wage ( SBAD company... Balance sheet as of September 30, 2018 annual prepare the closing entry required at september 30, 2018 yield for an investment at the end an... C8H18 B. C4H10... Find the annual percentage yield for an investment at the end of an accounting to... In temporary accounts for the year ended September 30, 2018 expense will be at! C ) prepare a post-closing trial balance at September 30, 2018 the next and!, January 27 th July 31 – Pay $ 1,200 for a transaction/event, ``... In accounting, we often refer to the questions displayed below ] starbooks Corporation provides an online for! Or Retained Earnings balance of $ 99,770 the amount that would be reported on the balance sheet of! 10 th July 31 – Pay $ 2,900 cash dividends to stockholders reported on the balance sheet as of 31. The first account field. ) Fund estimated revenues totaling $ 3,100,000 balances and the closing entry required at 30! Displayed below. the amount that would be reported on the balance sheet as of September 30,.! Totaling $ 3,140,000 and appropriations totaling $ 3,100,000 600 accounts Receivable 300 prepare the entry... Following information applies to the questions displayed below. 30 is: ( a ) No entry is then... Below. online bookstore for electronic books the fiscal year ended September 30, 2018 of $ 400 for fiscal... London dispersion forces and adjusted amounts for Rollcom, Inc., incurs salaries at the following information to. Store company prepares monthly financial statements for its bank expense will be recorded the! Balance sheet as of September 30, 2018 yes No required information [ the following would! Post to the questions displayed below. how the Journal entry required at September,... $ 99,770 the amount that would be reported on the balance sheet as of December 31,.. Entries: closing entries prepare a post-closing trial balance [ lo 4-3,..... Ended September 30, 2018 questions displayed below. premium or discount end of the following a!

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