Prepare the closing entries for fenske company

Assignment Help Financial Accounting
Reference no: EM13839726

A partial adjusted trial balance for Fenske Company is given-

FENSKE COMPANY Adjusted Trial Balance January 31, 2012


Debit  Credit
Supplies  $700
Prepaid Insurance  1,560
Salaries and Wages Payable    1,060
Unearned Service Revenue    750
Supplies Expense  950
Insurance Expense  520
Salaries and Wages Expense 1,800
Service Revenue 
2,000

Instructions- Prepare the closing entries at January 31, 2012.

Attachment:- Fenske Company.xlsx

Reference no: EM13839726

Questions Cloud

What are the cash flows now and in one year : What are the cash flows now and in one year? ( Hint: Remember the dividend the stock will pay.) Show that the equilibrium futures price must be F 0 5 S 0 (1 1 r ) 2 D to avoid arbitrage. Call the dividend yield d 5 D / S 0 , and conclude that F 0 5 S..
Define potential rental properties to purchase : During the current year, Gene, a CPA, performs services as follows: 1,800 hours in his tax practice and 50 hours in an apartment leasing operation in which he has a 15% interest. Because of his oversight duties, Gene is considered to be an active ..
Find the vector sum of a force : find the vector sum of a force
Why is sustainability a complex and controversial concept : Why is ‘sustainability' a complex and controversial concept? Why do existing sustainability models emphasise systems thinking?
Prepare the closing entries for fenske company : A partial adjusted trial balance for Fenske Company is given- Instructions- Prepare the closing entries at January 31, 2012
How to calculate concentration of these species at equilbriu : How to calculate the concentration of these species at equilibrium
Jennings company manufactures sophisticated : Jennings Company manufactures sophisticated electronic equipment.  It hires its assembly employees on the basis of applicants' scores on standardized mathematics and spatial orientation tests.  It has been shown that those who score higher on the tes..
Demand and supply of money : Describe the process in the money market (demand and supply of/for money) by which the interest rate reaches its equilibrium value if it starts above equilibrium. (Principles of Macroeconomics)
What should the futures price be : A single stock futures contract on a nondividend-paying stock with current price $150 has a maturity of one year. If the T-bill rate is 3%, what should the futures price be? What should the futures price be if the maturity of the contract is three ye..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd