Service Revenues Rent Revenues 2 Deprecia Total Revenues 3 The note Expenses

Service revenues rent revenues 2 deprecia total

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Service Revenues Rent Revenues 2. Deprecia Total Revenues 3. The note Expenses ($20,000 X Supplies Expenses Depreciation Expenses 4. Seven cu Utilities Expenses of $600 beg Salaries & Wage Expenses Rent Expenses Interest Expenses 5. Lawn ser Total Expenses Net Income (or Net Loss) date Skolnick Company Owner's Equity Statement for quarter ending June 30, 2012 4/30/12 Add: Investments Net Income (or Net Loss) 4/30/12 Less: Drawings 4/30/12 Skolnick Company Balance Sheet 4/30/12 at June 30, 2012 Assets Cash 4/30/12 Accounts Receivable Supplies PrePaid Rent G Owner's Capital , April 01 Owner's Capital , June 30
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Equipment Accumulated Depreciation-Equipment Total Assets Liabilities & Owner's Equity Liabilities Notes Payable Accounts Payable UnEarned Service Revenue Salary & Wages Payable Interest Payable Total Liabilities Owner's Equity Owner's Capital Total Liabilities & Owner's Equity In an adjusted trial balance, all asset, liability, revenue, and expense accounts are properly stated. To determine the ending balance in Owner’s Capital, add net income and subtract dividends.
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Permanent Accounts 101 Cash 112 Accounts Receivable 126 Supplies 130 PrePaid Insurance 157 Equipment 158 Accumulated Depreciation-Equipment 200 Notes Payable 201 Accounts Payable 209 UnEarned Service Revenues 212 Salary & Wages Payable 230 Interest Payable 301 Owner's Capital 12
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Owner's Capital 301 date Explanation ref Debit Credit Balance 10/1/12 J1 $ 10,000.0 ### 10/31/12 closing entry J3 2,860.0 12,860.0 10/31/12 closing entry J3 $ 500.0 ### Temporary Accounts 306 Owner's Drawings 350 Income Summary 400 Service Revenues 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salary & Wages Expense 729 Rent Expense 905 Interest Expense 9
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hensive Problem Appendi mas opens the Green Thumb Lawn Care Company on April 1, 2012. Alternative 1/31/2019 Regarding: the compan Debit Credit the compan alternative Receivable (1) When a it debits surance 3,600.0 (2) When it t 28,000.0 it credits ed Depreciation-Equipment able 20,000.0 In the appe Payable the differen Service Revenues 4,200.0 This alterna Wages Payable unearned r yable as the proc apital rawings PrePaid Exp venues 1,800.0 nues PrePaid Exp xpense of time (ins on Expense pense If, at the tim Wages Expense to consume nse statement d pense an expense This alterna The accoun Supplies $1 ns e adjusting entries for the month of April. Show computations. 10/5/12 In the case en Thumb Lawn Care Company, April 30, 2012 Trial Balance, partial In the case
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veals the following additional data. insurance is the cost of a 2-year insurance policy, effective April 1. 4 = $150 per month) $ 150.0 10/31/12 ation on the equipment is $500 per month. $ 500.0 e payable is dated April 1. It is a 6-month, 12% note. (6/12) X 12% X (1/6) = $200) $ 200.0 ustomers paid for the company’s 6 months’ lawn service package ginning in April. The company performed services for these customers in April. $ 700.0 10/5/12 rvices provided other customers but not recorded at April 30 totaled $1,500.
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