FRA 1710 Lecture 4: Note francais
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Klean Kars, which began operations in October, is enjoyingcontinuing success. The November 30, 2011 unadjusted trial balanceis as follows:
Acct No | Acct Title | Debit | Credit |
25 | Cash | 38264 | |
106 | Accounte receivable | 12618 | |
126 | Cleaning supplies | 2545 | |
128 | Prepaid insurance | 2220 | |
131 | Prepaid rent | 3300 | |
163 | Office equipment | 8000 | |
164 | Accum. Dep - Office equip | 0 | |
167 | Computer equip | 20000 | |
168 | Accum. Dep - Computerequip. | 0 | |
201 | Accounts Payable | 0 | |
210 | Wages payable | 0 | |
236 | Unearned Services Revenue | 0 | |
301 | Common stock | 44850 | |
302 | Retained earnings | 22300 | |
403 | Services revenue | 25659 | |
612 | Depreciation expense - OfficeEquip | 0 | |
613 | Depreciation expense -Computer Equip | 0 | |
623 | Wages expense | 2625 | |
637 | Insurance expense | 0 | |
640 | Rent expense | 0 | |
655 | Advertising expense | 1728 | |
676 | Mileage expense | 704 | |
684 | Repairs Expense -Computer | 805 |
I
Klean Kars had the following transactions and events in December2011
2-Dec Paid $1,025 cash to Hillside Mall for Klean Kars share ofmall advertising costs
3-DecPaid $500 cash for minor repairs to company's computer
4-Dec Received $3,950 cash from Jane Smith for a receivablerecorded in November
10-Dec Paid cash to Lyn Addie for 6 days of work at the rate of$125 per day. Ignore associated payroll taxes
14-Dec Contacted by James Johnson, who indicated Klean Karswould be hired to perform $7,000 worth of cleaning services overthe next 6 months.
14-Dec J. Johnson paid a $1,500 cash advance to Klean Kars andthe project is expected to begin on January 15, 2012
15-Dec Purchased $1,100 of cleaning supplies on credit fromHarris Office Products
16-Dec Sent a reminder to Suzy Solomon to pay the fee forservices recorded on November 8
20-Dec Started and completed a cleaning project for LiuCorporation and received $5,625 cash
28-Dec Received $3,000 cash from Suzy Solomon on her accountsreceivable
31-Dec Reimbursed an employee for business automobile mileage -600 total miles at a rate of $.50 per mile
The following additional facts are collected for use in makingadjusting entries prior to preparing financial
The December 31 inventory count of cleaning supplies shows $580still available
On October 1, 2011, Klean Kars paid their annual insurancepremium in the amount of $2,220, which
As of December 31, Lyn Addie has not been paid for 4 days ofwork at $125 per day
Record depreciation expense for the company's computer in theamount of $1200
Record depreciation expense for the company's office equipmentin the amount of $800
On October 1, 2011, Klean Kars signed a 2 year lease agreement,which had the following terms:
** $825 per month ** First 4 months rent due at time of signing(October 1, 2011). ** Payments will be made monthly startingFebruary 1, 2012.
Required:
Record and post the necessary closing entries for Klean Kars
Prepare a Post-closing trial balance as of December 31, 2011
Can anyone help with These last two steps?
Klean Kars, which began operations in October, is enjoyingcontinuing success. The November 30, 2011 unadjusted trial balanceis as follows:
Acct No | Acct Title | Debit | Credit |
25 | Cash | 38264 | |
106 | Accounte receivable | 12618 | |
126 | Cleaning supplies | 2545 | |
128 | Prepaid insurance | 2220 | |
131 | Prepaid rent | 3300 | |
163 | Office equipment | 8000 | |
164 | Accum. Dep - Office equip | 0 | |
167 | Computer equip | 20000 | |
168 | Accum. Dep - Computerequip. | 0 | |
201 | Accounts Payable | 0 | |
210 | Wages payable | 0 | |
236 | Unearned Services Revenue | 0 | |
301 | Common stock | 44850 | |
302 | Retained earnings | 22300 | |
403 | Services revenue | 25659 | |
612 | Depreciation expense - OfficeEquip | 0 | |
613 | Depreciation expense -Computer Equip | 0 | |
623 | Wages expense | 2625 | |
637 | Insurance expense | 0 | |
640 | Rent expense | 0 | |
655 | Advertising expense | 1728 | |
676 | Mileage expense | 704 | |
684 | Repairs Expense -Computer | 805 |
Klean Kars had the following transactions and events in December2011
2-Dec Paid $1,025 cash to Hillside Mall for Klean Kars share ofmall advertising costs
3-DecPaid $500 cash for minor repairs to company's computer
4-Dec Received $3,950 cash from Jane Smith for a receivablerecorded in November
10-Dec Paid cash to Lyn Addie for 6 days of work at the rate of$125 per day. Ignore associated payroll taxes
14-Dec Contacted by James Johnson, who indicated Klean Karswould be hired to perform $7,000 worth of cleaning services overthe next 6 months.
14-Dec J. Johnson paid a $1,500 cash advance to Klean Kars andthe project is expected to begin on January 15, 2012
15-Dec Purchased $1,100 of cleaning supplies on credit fromHarris Office Products
16-Dec Sent a reminder to Suzy Solomon to pay the fee forservices recorded on November 8
20-Dec Started and completed a cleaning project for LiuCorporation and received $5,625 cash
28-Dec Received $3,000 cash from Suzy Solomon on her accountsreceivable
31-Dec Reimbursed an employee for business automobile mileage -600 total miles at a rate of $.50 per mile
The following additional facts are collected for use in makingadjusting entries prior to preparing financial
The December 31 inventory count of cleaning supplies shows $580still available
On October 1, 2011, Klean Kars paid their annual insurancepremium in the amount of $2,220, which
As of December 31, Lyn Addie has not been paid for 4 days ofwork at $125 per day
Record depreciation expense for the company's computer in theamount of $1200
Record depreciation expense for the company's office equipmentin the amount of $800
On October 1, 2011, Klean Kars signed a 2 year lease agreement,which had the following terms:
** $825 per month ** First 4 months rent due at time of signing(October 1, 2011). ** Payments will be made monthly startingFebruary 1, 2012.
I also need to add an account called cleaning supplies expensethat needs to be added on to my adjusted trail balance
Adam is a part-time employee who earned $495.00 during the mostrecent pay period. He is married with two withholding allowances.Prior to this pay period, his year-to-date pay is $6,492.39. Howmuch should be withheld from Adam's gross pay for Social Securitytax for the most recent period, assuming no pre-tax deductions?
$40.02
$30.69
$37.92
$28.46
Julian is a part-time, nonexempt employee in Texas who earns$21.50 per hour. During the last biweekly pay period he worked 45hours. He is single with one withholding allowance (use thewage-bracket table). What is his net pay? (Donot roundinterim calculations,only round finalanswer to twodecimal points.)
Wage Bracket Method Tables for Income TaxWithholding | ||||||||||||
And the wages are | And the number of withholding allowances claimedis- | |||||||||||
Atleast | But less | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
The amount of income tax to be withheld is- | ||||||||||||
$800 | $820 | $90 | $67 | $44 | $26 | $11 | $0 | $0 | $0 | $0 | $0 | $0 |
820 | 840 | 93 | 70 | 47 | 28 | 13 | 0 | 0 | 0 | 0 | 0 | 0 |
840 | 860 | 96 | 73 | 50 | 30 | 15 | 0 | 0 | 0 | 0 | 0 | 0 |
860 | 880 | 99 | 76 | 53 | 32 | 17 | 1 | 0 | 0 | 0 | 0 | 0 |
880 | 900 | 102 | 79 | 56 | 34 | 19 | 3 | 0 | 0 | 0 | 0 | 0 |
900 | 920 | 105 | 82 | 59 | 36 | 21 | 5 | 0 | 0 | 0 | 0 | 0 |
920 | 940 | 108 | 85 | 62 | 39 | 23 | 7 | 0 | 0 | 0 | 0 | 0 |
940 | 960 | 111 | 88 | 65 | 42 | 25 | 9 | 0 | 0 | 0 | 0 | 0 |
960 | 980 | 114 | 91 | 68 | 45 | 27 | 11 | 0 | 0 | 0 | 0 | 0 |
980 | 1,000 | 117 | 94 | 71 | 48 | 29 | 13 | 0 | 0 | 0 | 0 | 0 |
1,000 | 1,020 | 120 | 97 | 74 | 51 | 31 | 15 | 0 | 0 | 0 | 0 | 0 |
1,020 | 1,040 | 123 | 100 | 77 | 54 | 33 | 17 | 2 | 0 | 0 | 0 | 0 |
1,040 | 1,060 | 126 | 103 | 80 | 57 | 35 | 19 | 4 | 0 | 0 | 0 | 0 |
1,060 | 1,080 | 129 | 106 | 83 | 60 | 37 | 21 | 6 | 0 | 0 | 0 | 0 |
1,080 | 1,100 | 132 | 109 | 86 | 63 | 40 | 23 | 8 | 0 | 0 | 0 | 0 |
1,100 | 1,120 | 135 | 112 | 89 | 66 | 43 | 25 | 10 | 0 | 0 | 0 | 0 |
1,120 | 1,140 | 138 | 115 | 92 | 69 | 46 | 27 | 12 | 0 | 0 | 0 | 0 |
1,140 | 1,160 | 141 | 118 | 95 | 72 | 49 | 29 | 14 | 0 | 0 | 0 | 0 |
1,160 | 1,180 | 144 | 121 | 98 | 75 | 52 | 31 | 16 | 0 | 0 | 0 | 0 |
1,180 | 1,200 | 147 | 124 | 101 | 78 | 55 | 33 | 18 | 2 | 0 | 0 | 0 |
1,200 | 1,220 | 150 | 127 | 104 | 81 | 58 | 35 | 20 | 4 | 0 | 0 | 0 |
1,220 | 1,240 | 153 | 130 | 107 | 84 | 61 | 38 | 22 | 6 | 0 | 0 | 0 |
1,240 | 1,260 | 156 | 133 | 110 | 87 | 64 | 41 | 24 | 8 | 0 | 0 | 0 |
1,260 | 1,280 | 159 | 136 | 113 | 90 | 67 | 44 | 26 | 10 | 0 | 0 | 0 |
1,280 | 1,300 | 162 | 139 | 116 | 93 | 70 | 47 | 28 | 12 | 0 | 0 | 0 |
1,300 | 1,320 | 165 | 142 | 119 | 96 | 73 | 50 | 30 | 14 | 0 | 0 | 0 |
1,320 | 1,340 | 168 | 145 | 122 | 99 | 76 | 53 | 32 | 16 | 1 | 0 | 0 |
1,340 | 1,360 | 171 | 148 | 125 | 102 | 79 | 56 | 34 | 18 | 3 | 0 | 0 |
1,360 | 1,380 | 174 | 151 | 128 | 105 | 82 | 59 | 36 | 20 | 5 | 0 | 0 |
1,380 | 1,400 | 177 | 154 | 131 | 108 | 85 | 62 | 39 | 22 | 7 | 0 | 0 |
1,400 | 1,420 | 180 | 157 | 134 | 111 | 88 | 65 | 42 | 24 | 9 | 0 | 0 |
1,420 | 1,440 | 183 | 160 | 137 | 114 | 91 | 68 | 45 | 26 | 11 | 0 | 0 |
1,440 | 1,460 | 186 | 163 | 140 | 117 | 94 | 71 | 48 | 28 | 13 | 0 | 0 |
1,460 | 1,480 | 189 | 166 | 143 | 120 | 97 | 74 | 51 | 30 | 15 | 0 | 0 |
1,480 | 1,500 | 192 | 169 | 146 | 123 | 100 | 77 | 54 | 32 | 17 | 2 | 0 |
1,500 | 1,520 | 195 | 172 | 149 | 126 | 103 | 80 | 57 | 34 | 19 | 4 | 0 |
1,520 | 1,540 | 199 | 175 | 152 | 129 | 106 | 83 | 60 | 37 | 21 | 6 | 0 |
1,540 | 1,560 | 204 | 178 | 155 | 132 | 109 | 86 | 63 | 40 | 23 | 8 | 0 |
1,560 | 1,580 | 209 | 181 | 158 | 135 | 112 | 89 | 66 | 43 | 25 | 10 | 0 |
1,580 | 1,600 | 214 | 184 | 161 | 138 | 115 | 92 | 69 | 46 | 27 | 12 | 0 |
1,600 | 1,620 | 219 | 187 | 164 | 141 | 118 | 95 | 72 | 49 | 29 | 14 | 0 |
1,620 | 1,640 | 224 | 190 | 167 | 144 | 121 | 98 | 75 | 52 | 31 | 16 | 0 |
1,640 | 1,660 | 229 | 193 | 170 | 147 | 124 | 101 | 78 | 55 | 33 | 18 | 2 |
1,660 | 1,680 | 234 | 196 | 173 | 150 | 127 | 104 | 81 | 58 | 35 | 20 | 4 |
1,680 | 1,700 | 239 | 200 | 176 | 153 | 130 | 107 | 84 | 61 | 38 | 22 | 6 |
1,700 | 1,720 | 244 | 205 | 179 | 156 | 133 | 110 | 87 | 64 | 41 | 24 | 8 |
1,720 | 1,740 | 249 | 210 | 182 | 159 | 136 | 113 | 90 | 67 | 44 | 26 | 10 |
1,740 | 1,760 | 254 | 215 | 185 | 162 | 139 | 116 | 93 | 70 | 47 | 28 | 12 |
1,760 | 1,780 | 259 | 220 | 188 | 165 | 142 | 119 | 96 | 73 | 50 | 30 | 14 |
1,780 | 1,800 | 264 | 225 | 191 | 168 | 145 | 122 | 99 | 76 | 53 | 32 | 16 |
1,800 | 1,820 | 269 | 230 | 194 | 171 | 148 | 125 | 102 | 79 | 56 | 34 | 18 |
1,820 | 1,840 | 274 | 235 | 197 | 174 | 151 | 128 | 105 | 82 | 59 | 36 | 20 |
1,840 | 1,860 | 279 | 240 | 202 | 177 | 154 | 131 | 108 | 85 | 62 | 39 | 22 |
1,860 | 1,880 | 284 | 245 | 207 | 180 | 157 | 134 | 111 | 88 | 65 | 42 | 24 |
1,880 | 1,900 | 289 | 250 | 212 | 183 | 160 | 137 | 114 | 91 | 68 | 45 | 26 |
1,900 | 1,920 | 294 | 255 | 217 | 186 | 163 | 140 | 117 | 94 | 71 | 48 | 28 |
1,920 | 1,940 | 299 | 260 | 222 | 189 | 166 | 143 | 120 | 97 | 74 | 51 | 30 |
1,940 | 1,960 | 304 | 265 | 227 | 192 | 169 | 146 | 123 | 100 | 77 | 54 | 32 |
1,960 | 1,980 | 309 | 270 | 232 | 195 | 172 | 149 | 126 | 103 | 80 | 57 | 34 |
1,980 | 2,000 | 314 | 275 | 237 | 198 | 175 | 152 | 129 | 106 | 83 | 60 | 37 |
2,000 | 2,020 | 319 | 280 | 242 | 203 | 178 | 155 | 132 | 109 | 86 | 63 | 40 |
2,020 | 2,040 | 324 | 285 | 247 | 208 | 181 | 158 | 135 | 112 | 89 | 66 | 43 |
2,040 | 2,060 | 329 | 290 | 252 | 213 | 184 | 161 | 138 | 115 | 92 | 69 | 46 |
2,060 | 2,080 | 334 | 295 | 257 | 218 | 187 | 164 | 141 | 118 | 95 | 72 | 49 |
2,080 | 2,100 | 339 | 300 | 262 | 223 | 190 | 167 | 144 | 121 | 98 | 75 | 52 |
$2,100 and over | Use Table 2(a) for a SINGLE person on page 45. Also see theinstructions on page 43. | |||||||||||
Page 52 | Publication 15 (2015) |
$818.40
$797.18
$825.99
$802.49