The unadjusted trial balance as of December 31, 2018, for the Bagley Consulting Company appears below. From the trial balance and information given, prepare adjusting entries and post to the accounts. The following is a partial adjusted trial balance as of December 31, 2021. The following is a partial adjusted trial balance as of December 31, 2021. By the end of 2021, only $800 of supplies remains. Introducing Textbook Solutions. A, clinic will be held on August 10, and attendees can pay $100, advance or $150 on the day of the clinic.Jul.30Great, receives cash of $4,000 in advance from 40 kayakers for the, upcoming kayak clinic.Aug.1Great Adventures, obtains a $34,000 low-interest loan for the company from the, council, which has recently passed an initiative encouraging. It is the third (and last) trial balance prepared in the accounting cycle. 7. Depreciation on the office equipment for the year is $11,100. Great Adventures Problem AP3-1[The following information applies t.docx, Aalim Muhammed Salegh Polytechnic College, Tony and Suzie graduate from college in May 2021 and begin developin.docx, Amerikan University in Bosnia and Herzegovina, Delhi Public School , Udaipur • BUSI MISC, Aalim Muhammed Salegh Polytechnic College • BUSINESS MISC, Amerikan University in Bosnia and Herzegovina • BUSINESS MISC, District Public School & Bulleh Shah Degree College, Kasur, Skip to main contentContinuing Problem Chapters 1-6AnswerSaved.docx, District Public School & Bulleh Shah Degree College, Kasur • BUSINESS MISC. Supplies on hand at December 31, have a cost of $ 2,400. Prepare an adjusted trial balance as of January 31, 2019. Because of the adjusting entry, they will now have a balance of $720 in the adjusted trial balance. For a recap, we have three types of trial balance. Account Title Debits Credits Retained earnings 81,000 Sales revenue 760,000 Interest revenue 3,500 Cost of goods sold 425,000 Salaries expense 110,000 Rent expense 16,000 Depreciation expense 31,000 Interest expense 5,100 Insurance expense 6,100 Required: Prepare the necessary closing entries at December 31, 2021. The balance in the Prepaid Insurance account represents the cost of a two-year insurance policy covering the period from January 1 this year, through December 31 of next year. This preview shows page 2 - 5 out of 6 pages. Image Transcriptionclose. Anderson Cooper Co.Adjusted Trial BalanceDecember 31, 2020 Dr. Cr. The last step in the accounting cycle is to prepare a post-closing trial balance. Prepare Post-Closing Trial Balance: 4. The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. 2BHW 5. In the above example, unrecorded liability related to unpaid salaries and unrecorded revenue amount has been included in the adjusted trial balance. Post the entries and prepare the Adjusted Trial Balance in the proper order. Prepare an adjusted trial balance as of December 31, 2021.Jul.1Sell $20,000 of common stock to Suzie.Jul.1Sell $20,000 of common stock to Tony.Jul.1Purchase a one-year insurance policy for $4,680 ($390 per month) to cover injuries to Credits Debits 7,950 6,000 2,400 175,000 40,000 16,000 72,000 28,800 26,400 Account Title Cash Accounts receivable Prepaid insurance Land Buildings Accumulated depreciation-buildings office equipment Accumulated depreciation-office … Get step-by-step explanations, verified by experts. The calendar year-end adjusted trial balance for Blessinger Co. follows BLESSINGER CO. Based on the adjusted trial balance below, Prepare a classified balance sheet for Focus Package Delivery. 2. Required: 1. Prepare an adjusted trial balance as of December 31. Account Title Debits Credits Cash Accounts … The December 31, 2021, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Adjusting entries: Required: Prepare an adjusted trial balance of Marketing Consulting Service Inc. on December 31, 2015. a report that lists the ending balances of each account in the chart of accounts in balance sheet order Required: 1. Just like in the unadjusted trial balance, total debits and total credits should be … Prepare a classified balance sheet as of Amounts to be. (If no entry is required for a transaction/event, select "N, journal entry required" in the first account field. The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit Cash $12,000 Accounts receivable 159,000 Prepaid rent 7,000 Supplies 28,000 Equipment 350,000 Accumulated depreciation $128,000 Accounts … The December 31, 2016, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Prepare the necessary closing entries at December 31, 2021. Prepare an adjusted trial balance as of December 31, 2021. Required: 1. Information necessary to prepare the year-end adjusting entries appears below. Post the transactions in the T-accounts. The December 31, 2021, adjusted trial balance for Fightin’ Blue Hens Corporation is presented below. 2. Prepare a post-closing trial balance. (Enter your answers in thousands of dollars.) Prepare Financial Statements: In our detailed accounting cycle, we just finished step 5 preparing adjusting journal entries. December 31 is the company’s fiscal year-end. Prepare a classified year-end balance sheet, (Note: A $9,000 installment on the long-term note payable is due within one year.) We will be using the adjusted trial balance from this lesson: Adjusted Trial Balance.If you want, you may take a look at how an income statement looks like here before we proceed.. The unadjusted trial balance as of December 31, 2021, appears below. This preview shows page 19 - 23 out of 32 pages. Account Title Debits Credits Cash 22,700 Accounts receivable 330,000 Prepaid rent 13,000 Inventory 51,000 Office equipment 610,000 Accumulated … A post-closing trial balance is prepared after closing entries are made and posted to the ledger. Information necessary to prepare the year-end adjusting entries appears below. The adjusted trial balance of Anderson Cooper Co. as of December 31, 2020, contains the following. They all have the same purpose (i.e. The buildings have an estimated useful life of 50 years with no salvage value. The following is select account data from the adjusted trial balance for the year ended, December 31, 2018. 4. Indiana University, Purdue University Indianapolis, National University of Singapore • ACC 1002, Indiana University, Purdue University Indianapolis • ACCOUNTING A311, Indiana University, Bloomington • BUS A311, Indiana University, South Bend • BUS B399, A311 Fall 2015 Ch3 practice problem solutions. Last step in the above example, unrecorded liability related to unpaid salaries and unrecorded revenue has! Entry required '' in the accounting cycle, we will use this information to create a multi-step statement... - 23 out of 6 pages ended December 31, 2021 year-end adjusted trial.! The Bagley Consulting company appears below balance of Marketing Consulting Service Inc. on December 31, 2021 based on adjusted! We will prepare an adjusted trial balance as of December 31, 2020, contains the following information given prepare! 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