The adjusted trial balance of gertz company included the following selected accounts

If a monthly reconciliation is done, the proper documentation will be available if an audit is performed, and any differences that exist between the two modules can be caught and corrected before the period is closed. What Accounts Should Be Reconciled? All of the information entered in Accounts Receivable updates a General Ledger account.

The adjusted trial balance of gertz company included the following selected accounts

The prepaid rent is for the period of January 1,to December 31, B. Prepare Journals entries for the month of January to record the transactions. Prepare an unadjusted trial balance as of January 31, Prepare an adjusted trial balance as of January 31, Prepare the closing entries.

Sanford Bank has the following account balance included in its unadjusted trial balance as of December 31, The balance in the Prepaid Insurance account is for a three year policy, beginning June 1 The safe deposit rentals have been earned by year end.

Instructions Prepare the adjusting journal entries.

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Second National Bank had the following transactions for - Oct. Prepare Journals entries to record the transactions for Post the journals entries to the general ledger accounts. Prepare an unadjusted trial balance. At March 31, account balances after adjustments for Rogers Bank are as follows: Presented below is an adjusted trial balance for Simon Bank, at December 31, Simon, Drawing 1, M.

Simon's capital account after the entries have been posted. Microsoft Bank prepares monthly financial statements.


Instructions a Prepare the general journal entry to record the acquisition of the equipment on June 1st. Scotsman Bank prepares monthly financial statements. Below are listed some selected accounts and their balances in the September 30 trial balance before any adjustments have been made for the month of September.

Debit column does not equal credit column because this is a partial listing of selected account balances An analysis of the account balances by the company's accountant provided the following additional information: Instructions Using the above additional information, prepare the adjusting entries that should be made by Scotsman Bank on September The adjusted trial balance of C.

Using the information from the adjusted trial balance, you are to prepare for the month ending December 31, Yes Bank was opened on March 1 by Arnold Nicholas. The following selected events and transactions occurred during March: Make one compound entry.

Journalize the March transactions. Post to the ledger accounts. Prepare a trial balance on March 31, 8. She then starts the process of getting the business running. In Novemberthe following activities take place. Instructions a Prepare journal entries to record the November transactions.

Bella Bank's unadjusted trial balance for the current year follows: The employee was paid last week but has worked four days this week for which bank has not been paid.

This additional amount of interest expense has not been recorded. Based on the above information, prepare the adjusting journal entries for Bella's Bank.

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Use the above information to prepare the adjusted trial balance for Bella's Bank.Question Question: (TCOs B and E) The adjusted trial balance of Gertz Company included the following selected accounts.

Debit Credit Sales $, Sales returns and allowances $ 50, Sales discounts 9, Cost of goods sold , Instructions: 1: Use the above information to prepare a multiple-step income statement for the year ended December 31, The following accounts were taken from the Adjusted Trial Balance columns of the worksheet: Accumulated Depreciation $ 2, Fees Earned 15, Depreciation Expense 1, Insurance Expense Prepaid Insurance 4, Supplies 1, Supplies Expenses 3, South Seattle Community College Fundamentals of Accounting Pg.

31 EXERCISES EXERCISE 1 Analyze the transactions of a business organized as a proprietorship described below and indicate their effect on the basic accounting equation.

The adjusted trial balance of gertz company included the following selected accounts

Use a plus sign (+) to indicate an increase and a minus sign (–) to indicate a decrease. EA partial adjusted trial balance of Gehring Company at January 31, , shows the following. Instructions Answer the following questions, assuming the year begins January 1.

The adjusted trial balance appears on the next page. Financial statements Use the adjusted trial balance from Problem 5 to prepare an income statement for the quarter ended 9 / 30 / 20x4 and a balance sheet as of 9 / 30 / 20x4 for GLP Corporation.

Given this trial balance information which of the following items must be included in the adjusting entries? A $ debit to Insurance Expense and a $ debit to Interest Expense. A $ credit to Prepaid Insurance and a $ debit to Interest Payable.

Trial Balance Worksheet