List the following steps of the accounting cycle in their proper order a. Preparing the post closing trial balance b. postint the journal entries c. journalizing and posting adjusting entries d. preparing the adjusted trial balance e. journalizing and posting

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  1. accounting

    List the following steps of the accounting cycle in their proper order a. Preparing the post closing trial balance b. postint the journal entries c. journalizing and posting adjusting entries d. preparing the adjusted trial balance e. journalizing and posting closing entries f...
  2. accounting

    List the following steps of the accounting cycle in their proper order a. Preparing the post closing trial balance b. postint the journal entries c. journalizing and posting adjusting entries d. preparing the adjusted trial balance e. journalizing and posting closing entries f...
  3. account. question

    Is this correct are the steps correct for the accounting cycle. They gave a list the list says the following: a)Preparing the post-closing trial balance b) posting the journal entries c)journalizing and posting adjusting entries d)preparing the adjusted trial balances e)...
  4. acct. correction

    can someone correct these for me thanks. for the accounting cycle. i have to place these in order. a) Posting the journal entries b) Journalizing and posting adjusting entries c) Preparing the adjusted trial balances d) Journalizing and posting closing entries e) Analyzing ...
  5. accouting class

    Is this order correct for the accouting cycle: 1. Analyzing transactions and events 2. Journalizing transactions and events 3. Posting the journal entries 4. Preparing an unadjusted trial balance 5. Journalizing and posting adjusting entries 6. Preparing the adjusted trial ...
  6. Acc 280

    Is posting and preparing the closing entries the same? If not how do you post the closing entries? Also what is a post closing trial balance?
  7. accounting

    P4-2A The adjusted trial balance columns of the worksheet for Porter Company are as follows. PORTER COMPANY Worksheet For the Year Ended December 31, 2008 Adjusted Account Trial Balance No. Account Titles Dr. Cr. 101 Cash 18,800 112 Accounts Receivable 16,200 126 Supplies 2,...
  8. accounting

    how do i record adjusting and closing entries for a service business? how do i do a post-closing trial balance?
  9. accounting

    Preparing closing entries and a post-closing trial balance for Exercise E4-3 I need help with this
  10. accounting

    E4-19 On December 31, the adjusted trial balance of Oslo Employment Agency shows the following selected data. Accounts Receivable $24,000 Commission Revenue $92,000 Interest Expense 7,800 Interest Payable 1,500 Analysis shows that adjusting entries were made to (1) accrue $4,...
  11. Accounting question

    How are posting procedures for closing entries and for other general journal entries different?
  12. accounting

    Wilson Reed, the bookkeeper for Home Interior Improvements and Designs Company, has just finished posting the closing entries for the year to the ledger. He is concerned about the following balances: Capital account balance in the general ledger: $ 48,550 Ending capital ...
  13. Anonymous

    For Pose for Pics, prepare journal entries, T-accounts and a trial balance Pose for Pics Preparing journal entries and trial balances Exercise 2-4 Prepare general journal entries for the following transaction of a new business called Pose for Pics. (please use Excel) Aug. 1 -...
  14. accounting principles

    Success Systems had the following transactions and events in December 2015: Dec. 2 Paid $1,200 cash to Hilldale Mall for Success Systems’ share of mall advertising costs. 3 Paid $500 cash for minor repairs to the company’s computer. 4 Received $7,000 cash from Alex’s ...
  15. Accounting Concepts

    To close the accounting cycle for Joe Smith's business, complete the following: Journalize and post the adjusting entries for Joe's business. Make the following adjusting entries: (Note: you may need to create additional ledger accounts) Adjustment for expired insurance ...
  16. accounts

    Analyze the transactions and do the following:- 1. Post to T Accounts 2. Prepare a Chart of Account 3. Record in the General Journal 4. Post to the General Ledger 5. Prepare a Trial Balance 6. Prepare a Six Column Worksheet 7. Prepare an Income Statement 8. Prepare a Capital ...
  17. Accounting

    This is in regards to adjusting entries. If I own a hotel and In order to reserve a room you must pay $220.00 in advance, what type of adjusting entries do I make, How do I determine the amounts of the adjustments, and which accounts are affected?
  18. accounting

    This is the question: "Use page 3 of the journal. Jornalize and post the adjusting entries." Can you tell me how to do that?
  19. Accounting

    Flip Company's December 31, 2014 trial balance is as follows: Flip Corporation Trial Balance December 31, 2014 Account Debit Credit Cash $43,500 Accounts Receivable 54,500 Allowance for Doubtful Accounts 500 Notes Receivable 30,000 Merchandise Inventory 55,000 Land 20,000 ...
  20. accounting

    How do I make general journal entries from a adjusted trial balance?
  21. Accounting 225

    Use the information in Exercise 2-4 to prepare an August 31 trial balance for Pose-for-Pics. Open these T-accounts: Cash; Office Supplies; Prepaid Insurance; Photography Equipment; H. Paris, Capital; Photography Fees Earned; and Utilities Expense. Post the general journal ...
  22. Accounting

    Worksheet data for Goode Company are presented in E4-2. Instructions (a) Journalize the closing entries at April 30. (b) Post the closing entries to Income Summary and Retained Earnings. Use T accounts. (c) Prepare a post-closing trial balance at April 30. Cash 13,752 Accounts...
  23. accounting

    Worksheet data for Goode Company are presented in E4-2. Instructions (a) Journalize the closing entries at April 30. (b) Post the closing entries to Income Summary and Retained Earnings. Use T accounts. (c) Prepare a post-closing trial balance at April 30. Cash 13,752 Accounts...
  24. accounting

    comprehensive problem perpetual In this project, follow the steps of the accounting cycle to process given transactions in a business environment. Then, synthesize special journals, a trial balance, financial statements, and a post closing trial balance. Use the spreadsheet in...
  25. college princ. of accounting II

    Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. (Round all answers to 0 decimal places.) The equipment depreciates at $250 per month.
  26. Accounting

    Julie Molony opened Julie's Maids Cleaning Service on July 1, 2010. During July, the company completed the transactions. July 1 Invested $14,000 cash in the business 1 Purchased a used truck for $10,000 paying $3,000 cash and the balance on account. 3 Purchased cleaning ...
  27. Accounting question

    my question is..... how or what are the steps to preparing general journal entries.
  28. accounting

    Your review of the general ledger of Home Interior Improvements and Designs Company reveals a beginning capital balance of $25,000. You also review the general journal for the accounting period and find the closing entries shown on the next page.Prepare a general journal entry...
  29. accounting

    hi,..!! i hope u can answer it,.. the following data are gathered prior to the preparation of the year end adjusting journal entries of IEMELIF enterprises: nature: last payment date: TAXES december 15, 20-7 ELECTRICITY december 22, 20-7 WATER december 10, 20-7 WAGES december ...
  30. Please help!!!!Accounting

    . Leng Xiong is unable to reconcile the bank balance at January 31. Leng’s reconciliation is shown here. Cash balance per bank $3,660.20 Add: NSF check 370.00 Less: Bank service charge 25.00 Adjusted balance per bank $4,005.20 Cash balance per books $3,975.20 Less: Deposits ...
  31. accounting280

    Instructions Enter the trial balance on a worksheet and complete the worksheet. E4-2 The adjusted trial balance columns of the worksheet for Goode Company are as follows. GOODE COMPANY Worksheet (partial) For the Month Ended April 30, 2008 Adjusted Trial Income Balance ...
  32. Accounting

    Use the following information to complete the partial worksheet for Bill’s Company. Record the appropriate adjusting entries using the data below and extend the balances over to the adjusted trial balance columns. Merchandise inventory—ending $10 Store supplies on hand 3 ...
  33. Math (Finance)

    The analysis process for preparing adjusting entries involves two basic steps. Identify the two steps and explain why both are necessary.
  34. journal entries and trail balances

    Prepare an August 31 trial balance for Pose-for Pics.
  35. Accounting urgent

    Prepare the journal entries to record the following transactions on Panther Company’s books using a perpetual inventory system. (For multiple debit/credit entries, list accounts in order of magnitude.) (a) On March 2 Panther Company sold $853,700 of merchandise to Eagle ...
  36. accounting

    P4-2A Gil Vogel started his own consulting firm, Vogel Consulting, on June 1, 2012. The trial balance at June 30 is as follows. VOGEL CONSULTING Trial Balance June 30, 2012 Debit Credit Cash $ 6,850 Accounts Receivable 7,000 Prepaid Insurance 2,880 Supplies 2,000 Equipment 15,...
  37. Accounting

    On June 1, Coble Company Ltd. borrows $64,000 from First Bank on a 6-month, $64,000, 9% note. The note matures on December 1. (List multiple debit/credit entries from largest to smallest.) a) Prepare the entry on June 1. b) Prepare the adjusting entry on June 30. c) Prepare ...
  38. acc 280

    P3-1 A Tony Masasi started his own consulting firm, Masasi Company, Inc., on June 1, 2008. The trial balance at June 30 is shown on page 129. MASASI COMPANY, INC. Trial Balance June 30, 2008 Account Number Debit Credit 101 Cash $7,150 112 Accounts Receivable 6,000 126 Supplies...
  39. accounting

    You issue a $120,000 bond at par on March 31 due in 10 years that pays 11%. You pay interest on September 30. You pay off the bond ten years later. Assume that the company makes no adjusting entries. What journal entries should be recorded to issue the bond, pay interest and ...
  40. bookkeeping

    Worksheet (Use the information from the trial balance in Exam Figure 2. Write the worksheet information on the form in Exam Figure 1.) You’ll need the following adjustment information: a. P. Woodsley counted the supplies on May 31 and found that the supplies on hand were $...
  41. Math (Finance)

    What is the purpose of the post-closing trial balance? Explain where the information for the post-closing trial balance comes from.
  42. Accounting- Help Please

    Accounting Help-Preparing and posting journal entries; and preparing a trial balance.? Shelton Engineering completed the following transaction in the month of June. Received a bill for rent of equipment that was used on a recently completed job. The 1,200 rent must be paid ...
  43. introducing to accounting

    After the closing entries are posted to the ledger, each revenue account will have a) zero balance. b)debit balance c) a credit balance d)either a debit or a credit balance. MY ANSWER IS D BUT I AM NOT SURE :)
  44. introducing to accounting

    After the closing entries are posted to the ledger, each revenue account will have a) zero balance. b)debit balance c) a credit balance d)either a debit or a credit balance. My answer is a) ,but I am not sure:)
  45. accounting

    preent in journal form adjusting entries that would be made on july 31,2011 the end of the fiscal year 1. apr 30, a ten month 9% note for $20,000 was received from a customer
  46. Accounting

    The Account Cycle Bob night opened "The general's favorite Fishing Hole" The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on Sunday afternoon and ...
  47. accounting

    Write the journal entries to record the following transactions. A) Sold merchandise on account, $11,000, terms 2/10, net 30. The cost of merchandise sold was $8,000 (2 entries required). B) Issued a credit memorandum for $500 to the customer for merchandise sold in A. (2 ...
  48. College Accounting

    How do the entries affect account balances and why both debit and credit entries can increase or decrease an account balance?
  49. Accounting

    After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. either a debit or a credit balance.
  50. accounting

    After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. either a debit or a credit balance.
  51. Accounting

    This is for an accounting course doing adjusting entries.. The rental revenue represents the amount received for 11 months for dining facilities. The December rent has not yet been received. On the trial balance the amount for rental revenue is 17,600 Would I divide that by 11...
  52. Financial Accounting

    Prepare the general journal entries for the following transactions: Jan 2, 2011 -- Purchased land with a building on it for $750,000. The land is worth $300,000. Paid $150,000 cash down and signed a mortgage payable for the balance. Dec. 31, 2011--Depreciation is computed ...
  53. Accounting

    Could someone please look this over and tell me if I have this correct? I am not confident in the Trial Balance.  May 1 Cash 101 25,000 Common Stock 311 25,000 3 Supplies 126 2,500 Accounts Payable 201 2,500 7 Rent Expense 729 900 Cash 101 900 11 Accounts Receivable 112 2,100...
  54. Accounting

    1. On July 1, 2010, Harris Co. issued 6,000 bonds at $1,000 each. The bonds paid interest semiannually at 5%. The bonds had a term of 20 years. At the time of issuance, the market rate of interest was 7%. Harris uses the effective interest rate method to amortize bond premium ...
  55. Accounting

    Could someone please look this over and tell me if I have this correct? I am not confident in the Trial Balance. May 1 Cash 101 25,000 Common Stock 311 25,000 3 Supplies 126 2,500 Accounts Payable 201 2,500 7 Rent Expense 729 900 Cash 101 900 11 Accounts Receivable 112 2,100 ...
  56. accounting

    To post proof for the day means to A. total the columns on the journal and add and subtract totals as required. B. match the journal entries against the ledger to detect errors. C. prepare a bank reconciliation statement. D. add in any accounts receivable that came in the mail
  57. Accouting

    Bob night opened "The general's favorite Fishing Hole" The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on Sunday afternoon and returning home the ...
  58. Accounting?

    I need to post a journal entry and a trial balance. Can anyone help???
  59. Financial Accounting

    On March 31 a post closing trial balance was completed On April 4, the business purchased a new truck on account. The residual value is $2400, and the estimated useful life is 5 years. How do I enter this information into a general journal? Do I even need to calculate the ...
  60. Math

    At an annual flower show, 6 different entries are to be arranged in a row. a) How many different arrangements of the entries are possible? b) If the owners of the 1st, 2nd, and 3rd place entries will be awarded prizes of $100, $50, and $25 respectively, how many ways can the ...
  61. accounting

    how do i prepare year-end adjusting entries?
  62. Journal entries accounting

    journalize the following entries: 1, Received partial payment of $211 from J. Kronsnoble for work billed on June 7. 3. Paid for supplies purchased on June 4. my answers: 1. cash 211 accounts recvieable 211 3. supplies 258 accounts payable 258
  63. accounting

    I have the postclosing trial balance of the company from the previous month. I also have the AR closing & the AP closing numbers. Do these numbers get transfered into the new month general journal and ledger accounts as balances forward?
  64. accounting

    On January 1, 2008 Touring company agreed to buy some equipment from Jones Company. Touring company signed a note,agreeing to pay Jones company $500,000 for the equipment on December 31, 2010. The market rate of interest for this note was 10%. a. Prepare the journal entry ...
  65. college Accounting

    The ledger of Piper Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Debit Credit Prepaid Insurance $ 3,600 Supplies 2,800 Equipment 25,000 Accumulated Depreciation—Equipment $ 8,400 Notes ...
  66. ACCOUNTING

    ANSWER THIS SURVEY ASAP: 1. A compound entry in the general journal is made to close expense accounts. True False 2. The entry to transfer net income to the owner's capital account would include a debit to the owner's capital account. True False 3. Withdrawals by the owner for...
  67. accounting (balance sheet, retained earnings...)

    Problem P3-5A On September 1, 2002, the account balances of Rijo Equipment Repair Corp. were as follows: Nbr: Debits Nbr: Credits 101 Cash $4,880 154 Accumulated depreciation $1,500 112 Accounts receivable 3,520 201 Accounts payable 3,400 126 Supplies 2,000 209 Unearned ...
  68. accounting

    Can uot help me with journal entries
  69. Accounting

    how do i do adjusting entries on a general journal Thank you for using the Jiskha Homework Help Forum. The following site has general Accounting Advice: http://www.lemoineandjames.com/gaap/73aje.html
  70. Accounting

    On Jan 1, 2009 the following activitis occurred: a) ICDI, a consulting services company, was orgainized and issed 10,000 shares of capita stock in exchange for $500,000 cash. b)UCDI entered into an agreement with a landlord and paid $60,000 or 6 months rent in advance. c) the ...
  71. accounting

    The following are examples of errors that will not be revealed by a trial balance: (a) errors of omission (b) incorrect total on trial balance (c) posting to the wrong account (d) compensating errors (e) The balance of a general ledger account has been incorrectly calculated.
  72. Accounting

    Journal Entries Under the Perpetual Inventory System Bhushan Building Supplies entered into the following transactions.
  73. Accounting

    Can equipment, wages payable, and accumulated depreciation be used to prepare adjusting entries?
  74. accounting help

    How to prepare this entries Preparing and posting journal entries; preparing a trial balance Shelton Engineering completed the following transactions in the month of June. a. Shania Shelton, the owner, invested $105,000 cash, office equipment with a value of $6,000, and $45,...
  75. accounting

    Question: Because Aqua Elite, Inc. is a new startup business, the beginning balances in all the general ledger accounts are zero to start. n The length of the accounting periods are three months using a fiscal calendar year. (A fiscal calendar is on a yearly basis other than a...
  76. accounting

    Nature’s Way, Inc., keeps one of its production facilities busy making a perfume called Essence de la Vache. The perfume goes through two processing departments: Blending and Bottling. The following incomplete Work in Process account is provided for the Blending Department ...
  77. accounting

    Prepare adjusting journal entries for the year ended (or date of) December 31, 2005, for each of these separate situations. Assume that prepaid expenses are initially recorded in asset accounts. Also assume that fees collected in advance of work are initially recorded as ...
  78. accounting

    Is there a method of determining if you debit or credit an account? How do you know if you should debit or credit a transaction? If it's a balance sheet accout you need to learn (and mrmorize) which side of the equation i't on, and it's normal balance. Assets normally have ...
  79. Accounting

    Please explain how I would go about doing this. Indicate which of the following transactions require entries to accounts used only for budgetary control purposes, even if other accounts also are involved. Prepare the general journal entries required. Assuming a beginning total...
  80. Math

    On July 15,2009, the Nixon Car Company purchased 1,000 tires from the Harwell Company for $50 each. The terms for the sale were 2/10, n/30. Nixon uses a periodic inventory system and the net method of accounting for purchase discounts. 1. prepare the journal entries to record ...
  81. Accounting

    On July 1, 2011, ABC Grocers, Inc. purchased an investment in the 5 yr 10@ (stated rate) debt securities with a face value of $400,000 of Brighton Corporation, a publicly traded company. At the time of purchase the market interest rate for similar risk debt was 8%. Interest is...
  82. Accounting

    For each of the journal entries, prepare an explanation of the business event that is being represented
  83. Accounting - Please Help

    What would the Journal Entry be for this transaction: Notified by Alex's Engineering Co that Success's bid of $9,000 on a proposed project has been accepted. Alex's paid a $2,500 cash advance to Sucess Systems. Would I have two different journal entries for this? The one being...
  84. Accounting

    On Dec 31, 2007, before adjusting entries, the blances of selected accounts for the company were as follows: Accounts receivable 840,000 Allowance for uncollectable accounts (debit balance) 2,000 dr. The company has determined that historically about 2.0 percent of accounts ...
  85. Accounting

    Zell Company had sales of $1,800,000 and related cost of merchandise sold of $1,150,000 for its first year of operations ending December 31, 2016. Zell Company provides customers a refund for any returned or damaged merchandise. At the end of the year, Zell Company estimates ...
  86. ELA

    An outline is a dictionary entry an organized or systematized arrangement of important elements of a topic THIS ONE a place to locate information all of the above 2. Three ways to take notes are Summarize, note take and paraphrase Summarize, quote, paraphrase THIS ONE 3. A ...
  87. college accouting REALLY IMPORTANT PLEASE HELP =/

    On Jan 1, 2009 the following activitis occurred: a) ICDI, a consulting services company, was orgainized and issed 10,000 shares of capita stock in exchange for $500,000 cash. b)UCDI entered into an agreement with a landlord and paid $60,000 or 6 months rent in advance. c) the ...
  88. accounting

    owner got personal loan from his bank and sign note payable.what is the journal entries?
  89. Intermediate Accounting

    Prepare all the necessary journal entries to record the following transactions: 1. Sale of a 20 year convertible bond (dated March 1, 2001) with a face value of $1,000,000, interest rate 5%. The bonds were sold 4 months later on June 30, 2001 at 98 plus accrued interest of $16...
  90. account (urgent!!pls help)

    accounting question [prepare journal entries for the year end adjustment] A fire broke out in the office during the year. the insurance company agreed to pay compensation of $3000 to the company in December 2009.No entries for this compensation were made at the year end.This ...
  91. Accounting

    1/2/15 Purchased patent (6-year life) $521,580 4/1/15 Goodwill purchased (indefinite life) 395,170 7/1/15 14-year franchise; expiration date 7/1/2025 519,400 9/1/15 Research and development costs 169,890 Prepare the necessary entries to record these intangibles. All costs ...
  92. math

    There was a competition that attracted 630 entries for a $250 prize. Molly gets paid $7.50 per hour for checking the entries, which takes her 2 minutes each. How much do they pay Molly to check the entries?
  93. computer science(Algorithm)

    An m X n YOUNG TABLEAU is an m X n matrix such that the entries of each row are in sorted order from left to right and the entries of each column are in sorted order from top to bottom. Some of the entries of YOUNG TABLEAU maybe ¡Þ, which we treat as nonexistent elements, ...
  94. Accounting 1

    Red Bank Enterprises was involved in the following transactions during the fiscal year ending October 31: 8/2: Borrowed $75,000 from the Bank of Kingsville by signing a 120-day note. 8/20: Issued a $40,000 note to Harris Motors for the purchase of a $40,000 delivery truck. The...
  95. Fianancial Accounting

    I am trying to prepare an unadjusted trial balance for Aqua Elite, Inc. I have done it twice and it doesnt balance. I am not sure I am doing the right calculations. The information is as follows: Because Aqua Elite, Inc. is a new startup business, the beginning balances in all...
  96. Accounting

    How would I record this on the "Journal Entry" and at what amount? Information for Year-End Adjusting Journal Entries December 31,2006 1. $71,400 of office equipment was purchased on Jan. 1, 2004. The office equipment is expected to have a useful life of 7 years with no ...
  97. accounting

    Prepare the journal entries for each transaction. Post to the ledger and prepare a trial balance. May 2 Purchased merchandise on account from Wendy Supply Co. P10,000 terms, 2/10,n/30 3 Sold merchandise for P4,500 terms P500 down balance 2/10,n/30. 4 Paid P500 cash for freight...
  98. accounting

    hi i know this may sound stupid but i just need to clarify some things with general ledger and the trial balance. For example, i am given the post trial balance for ABC Ltd. These accounts which include cash, accounts receivable, accum dep... etc.., do i need to add on to ...
  99. advance accounting

    consolidation,prepare the journal entries on books of phillips to recod the acquistion of solina company's net assets
  100. Accounting

    At the end of its first year, the trial balance of Riko Company shows Equipment $20,590 and zero balances in Accumulated Depreciation–Equipment and Depreciation Expense. Depreciation for the year is estimated to be $3,333. Prepare the adjusting entry for depreciation at ...
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