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Trial Balance

12 Short Answer Questions on Accounts: Chart of accounts, trial balance, adjusting entries, differences between prepaids and accruals, different journal entries associated with booking prepaid insurance and unrecorded insurance

1) What are the components of the chart of accounts? 2) What is the purpose of the numbering structure on a chart of accounts? 3) Why is the structure of the chart of accounts important? 4) Is the chart of accounts the same for every organization? Explain your answer. 5) When is the trial balanc

Journal entries and trial balance

On march 1 2006, Tim Cochran established star realty, which completed the following transactions during the month: a. Tim Cochran transferred cash from a personal bank accound to an account to be used for the business, 12,000 b- purchased supplies on account, 850 c earned sales commissions, receiving cash, 12,600 d paid rent

Entries into T accounts and trial balance

Shaun wilcox, an archetect, opened an office on April, 1 2006. During the month, he completed the following transactions connected with his professional practice: a. trasferred cash from a personal bank acount to an account to be used for the business, 17,500 b. purchased used automobile for 15,300, paying 4,000 cash and givin

Trial Balance

Given accounts in disorder. Need to arrange in proper order and place debit and credit amounts. Need to balance. ACCOUNT AMOUNT 101 CASH 480,000.00 103 MARKETABLE SECURITIES 200,000.00 105 ACCOUNTS RECEIVABLES 406,000.00 112 ADMINISTRATIVE EXPENSE 335,000.00 115 INVENTORIES 1,285,000.00 118 PREP

Balance sheets and Trial Balance Sheet Preparation 2

Preparing a Balance Sheet The balance sheet items of the Prosser Company as of December 31, 2002, follow in random order. You are to prepare a balance sheet for the company, using a similar sequence for assets as illustrated in Exhibit 2-9. You must compute the amount for Retained Earnings. Financial Statement Preparat

Adjusted Trial Balance question

Below are some Financial Accounting Questions I have. The adjusted trial balance of Full Spectrum Color Laboratory at June 30, 19X9, after all adjustments, follows... Full Spectrum Color Laboratory Adjusted Trial Balance June 30, 19X9 Cash............................................................................

Cope Co: trial balance, and adjusted trial balance worksheet

II. The following unadjusted account balances and adjustment data are for Cope company as of December 31, 2001. Cash = $12,900.00 Prepaid insurance = $2,000.00 Office supplies = $1,300.00 Office equipment = $10,500.00 Accumulated dep.- office equipment = $3,500.00 Accounts payable = $2,900.00 Salary payable = $ 0.00 U