Answer Happy

Questions:
1) What is the Trial Balance on the debit side (TB) forthis company at the end of the period? (Assuming your debit sideand credit side are equal)?
2) What is your Net Income in the Income Statement?
3) What is the Retained Earnings (RE) balance at the end ofthe period?
4) What is the total asset in the Balance Sheet at the endof the period?
5) What is the total liability in the Balance Sheet at theend of the period?
Enter Name Corporation opened the year 20X6, with the following trial balance information: (a) Cash Accounts Receivable Land Accounts Payable Loan Payable Capital Stock Retained Earnings Dividends Revenues Salaries Expense Rent Expense Supplies Expense Interest Expense $ 4,050,000 3,375,000 3,825,000 $11.250.000 $ 2,700,000 1,350,000 2,250,000 4,950,000 $11.250.000 Examine the journal entry descriptions below and select the appropriate accounts to debit and credit. Enter the transaction amount in the debit box; the credit box will automatically populate. Check marks will appear indicating that you have selected the correct account titles and amounts.

GENERAL JOURNAL Date Jan. 2 Jan. 5 Jan. 7 Jan. 9 Jan. 10 Accounts Purchased additional tract of land for $900,000 cash. Collected $450,000 on an open account receivable. Borrowed $267,000 on a term loan payable. Provided services on account to a customer for $675,000. Paid salaries of $135,000. Debit 0 0 0 0 Credit 0 0 0 0 0

Jan. 12 Jan. 15 Jan. 16 Jan. 18 Jan. 21 Provided services to customers for cash, $495,000. Purchased (and used) office supplies on account, $14,000. Collected $360,000 on accounts receivable. Paid salaries of $210,000. Paid rent of $450,000. 0 0 0 0 0 0 0 0 0 0

Jan. 25 Jan. 28 Dividends Cash Jan. 31 Paid $675,000 on the open accounts payable. Jan. 31 The company paid shareholders a $225,000 dividend. Paid interest of loans of $45,000. Repaid loans of $270,000. 0 0 0 0 0 0 0 0