Ch 5 Quizzes - CHAPTER 5 NAME 10-MINUTE QUIZ A SECTION The...

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Unformatted text preview: CHAPTER 5 NAME # 10-MINUTE QUIZ A SECTION The accountant for All-Around Consulting prepared the following “Adjusted” Trial Balance at December 31, 2005, after one year of operations Debit Credit Cash.................................................................................. $ 5,400 Accounts Receivable........................................................ 4,200 Unexpired Insurance........................................................ 1,800 Office Equipment............................................................. 18,000 Accumulated Depreciation: Office Equipment............... $ 300 Unearned Consulting Fees............................................... 3,000 Capital Stock.................................................................... 15,000 Retained Earnings, January 1, 2005................................ 2,400 Dividends......................................................................... 800 Consulting Fees Earned................................................... 20,000 Salaries Expense.............................................................. 6,300 Utilities Expense.............................................................. 1,500 Rent Expense.................................................................... 2,400 Depreciation Expense...................................................... 300 ______ $40,700 $40,700 Prepare closing entries for All-Around Consulting. CHAPTER 5 NAME # 10-MINUTE QUIZ B SECTION CDF Inc. Trial Balance December 31 Debit Credit Cash.................................................................................. $ 12 Accounts Receivable........................................................ 22 Equipment........................................................................ 187 Accounts Payable............................................................. $ 17 Capital Stock....................................................................Capital Stock....
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This note was uploaded on 03/11/2012 for the course FIN FIN 3230 taught by Professor Petrivanov during the Spring '12 term at Kazakhstan Institute of Management, Economics and Strategic Research.

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Ch 5 Quizzes - CHAPTER 5 NAME 10-MINUTE QUIZ A SECTION The...

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