ZuoTi.Pro
Question

Need Assistance with the following questions please.

Lalonde Engineering Services is owned by François Lalonde. Here is a listing, in random order, of financial statement items for the business, for the year ended December 31, 2014.

Lalonde Engineering Services is owned by François Lalonde. Here is a listing, in random order, of financial statement items for the business, for the year ended December 31, 2014. Cash Accounts receivable Supplies Office equipment Accounts payable Salaries payable F. Lalonde, capital January 1, 2014 6,800 F. Lalonde, drawings Engineering service revenue Rent expense Salaries expense Supplies expense Utilities expense $2,070 1,300 600 6,200 840 470 4,400 15,860 4,800 3,400 840 360 Prepare income statement. LALONDE ENGINEERING SERVICES Income Statement Year Ended December 31, 2014

Prepare statement of retained earnings. (List items that increase owners equity first.) LALONDE ENGINEERING SERVICES Statement of Owners Equity Year Ended December 31, 2014

Prepare balance sheet. LALONDE ENGINEERING SERVICES Balance Sheet December 31, 2014 Asset Liabilities and Owners Equity

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

I have solve the question based on the given details. I have tried to provide as much details as possible in the given format. I guess as per above images you have to select items as per drop down list which I cannot see, so there might be slight changes in wordings used by me. So if you have any doubts while selecting options from drop down list you can surely ask.Lalonde Engineering Services Income Statement Year Ended December 31,2014 Amount Revenue from Operations Engineering Services Revenue Less: Operatin Rent Expense Salaries Expense Supplies Expense Utilities Expense Net Income 15860 4800 3400 840 360 9400 6460 Lalonde Engineering Services Statement of Owners Equity Year Ended December 31,2014 Amount in $ F.Lalonde, Capital January 1, 2014 Add: Net Income Less: Drawings Retained Earnings 6800 6460 4400 8860 Lalonde Engineering Services Balance Sheet December 31,2014 Assets Amount in $ Office Equipment Accounts Receivable Supplies Cash Total 6200 1300 600 2070 10170 Liabilities & Owners Equi Amount in $ Owners Equity Accounts Payable Salaries Payable Total 8860 840 470 10170

0 0
Add a comment
Know the answer?
Add Answer to:
Need Assistance with the following questions please. Lalonde Engineering Services is owned by François Lalonde. Here...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • FUL Question 4 Waterway Engineering Services is owned by Francois Waterway. Here is a listing of...

    FUL Question 4 Waterway Engineering Services is owned by Francois Waterway. Here is a listing of financial statement items for the business for the year ended December 31, 2021. Cash $1,280 Accounts receivable 1,792 Supplies 768 Equipment 7,936 Accounts payable 1,048 Salaries payable 584 F. Waterway, capital January 1, 2021 8,320 F. Waterway, drawings 5,632 Service revenue 19,016 Rent expense 6,144 Salaries expense 3,968 Supplies expense 1,008 Utilities expense 440 Prepare income statement

  • prepare income statement 1.prepare income statement 2. prepare statement of owners equity 3.prepare a balance sheet...

    prepare income statement 1.prepare income statement 2. prepare statement of owners equity 3.prepare a balance sheet Question 5 of 5 < > View Policies Current Attempt in Progress Swifty Engineering Services is owned by François Swifty. Here is a listing of financial statement items for the bus ended December 31, 2021. Cash $1,080 Accounts receivable 1,512 Supplies 648 Equipment 6,696 Accounts payable 878 Salaries payable 494 F. Swifty, capital January 1, 2021 7,020 5. Swifty, drawings 4.752 Service revenue 16,046...

  • Oliver Nicholas, the owner of Nicholas Marketing Services, prepared the following trial balance at December 31,...

    Oliver Nicholas, the owner of Nicholas Marketing Services, prepared the following trial balance at December 31, 2021. NICHOLAS MARKETING SERVICES Trial Balance December 31, 2021 Debit Credit Cash $6,500    Accounts receivable 21,280    Supplies 3,720    Prepaid insurance 4,650    Prepaid rent 3,165    Equipment 27,500    Unearned revenue $3,400 Notes payable 15,600 O. Nicholas, capital 34,660 O. Nicholas, drawings 3,600    Service revenue 39,200 Interest expense 150    Rent expense 6,700    Salaries expense 13,455    Telephone expense...

  • The adjusted trial balance of Wong Consulting Services is as follows: WONG CONSULTING SERVICES Adjusted Trial...

    The adjusted trial balance of Wong Consulting Services is as follows: WONG CONSULTING SERVICES Adjusted Trial Balance December 31, 2021 Debit Credit Cash $2,500 Accounts receivable 1,000 Prepaid insurance 840 Supplies 140 Furniture 15,000 Accumulated depreciation – furniture $1,200 Accounts payable 740 Salaries payable 610 Interest payable 34 Unearned revenue 200 Notes payable, due 2026 2,600 V. Wong, capital 5,500 V. Wong, drawings 8,300 Service revenue 30,436 Rent revenue 560 Depreciation expense 500 Insurance expense 740 Interest expense 120 Rent...

  • Russell Engineering provides consulting services related to land development. Below is the year-end adjusted trial balan...

    Russell Engineering provides consulting services related to land development. Below is the year-end adjusted trial balance of Russell Engineering.      RUSSELL ENGINEERING Adjusted Trial Balance December 31, 2021 Accounts Debits Credits Cash $ 5,500 Accounts Receivable 4,200 Supplies 2,300 Prepaid Rent 6,100 Equipment 114,000 Accumulated Depreciation $ 25,000 Accounts Payable 3,600 Salaries Payable 3,500 Utilities Payable 1,500 Notes Payable (due in 4 years) 20,000 Common Stock 44,800 Retained Earnings 20,200 Service Revenue 118,500 Salaries Expense 45,000 Rent Expense 17,600 Depreciation...

  • I need help with this scenario please: Directions: After the success of the company's first two...

    I need help with this scenario please: Directions: After the success of the company's first two months, K. Wilson continues to operate Business Solutions. The December 31, adjusted trial balance of Business Solutions follows: Prepare an income statement for the month ended December 31. Prepare a statement of owner's equity for the month ended December 31. (Note: The company just began operations on January 1) Prepare a balance sheet as of December 31. Record and post the necessary closing entries...

  • Accounting and the Business Environment 61 Use the following information to answer SI-12 through S1-14. Elegant...

    Accounting and the Business Environment 61 Use the following information to answer SI-12 through S1-14. Elegant Arrangements has just completed operations for the year ended December 31, 2014. This is the third year of operations for the company. The following data hae been assembled for the business Insurance Expense Service Revenue Utilities Expense Rent Expense Rose, Capital, Jan. 1,2014 Cash 4,000 Salaries Expense 74,000 Accounts Payable 1,100 Office Supplies 13,000 Rose, Withdrawals 10,500 42,000 6,800 2,100 3,900 Accounts Receivable 5,500...

  • 29 Received the telephone bill for September, $325. 30 Billed the government $10,000 for services provided...

    29 Received the telephone bill for September, $325. 30 Billed the government $10,000 for services provided to patients in September. Instructions (a) Beginning with the August 31 balances, prepare a tabular analysis of the effects of the September transactions on the accounting equation. (b) Prepare an income statement and statement of owner's equity for September, and a balance sheet at September 30. TAKING IT FURTHER What are the differences between purchasing an item on account and signing a note payable...

  • The account balances from the December 31, 2019, trial balance for Haman Accounting Services are shown...

    The account balances from the December 31, 2019, trial balance for Haman Accounting Services are shown below. HAPAN ACCOUNTING Trial Balance December 31, 2019 ACCOUNT NAME DEBIT CREDIT Cash 7,600 Accounts Receivable 3,600 Supplies Prepaid Rent 17.ee Equipment 16,000 Accounts Payable 9.200 Erik Haman, Capital 12/1/19 25,000 Erik Haman, Drawing 4,6ee Fees Income Salaries Expense 4.600 Utilities Expense Totals 58.700 58.700 1. Prepare an income statement for the Haman Accounting Services for the month ended December 31, 2019 2. Prepare...

  • Answer all please. Financial Statements and Closing Entries The Gorman Group is a financial planning services...

    Answer all please. Financial Statements and Closing Entries The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31, 2019, the end of the fiscal year, the accountant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows: The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 2019 Adjusted Trial Balance Account Title Dr Cr Cash 11,520 Accounts Receivable 25,090 Supplies 3,920 Prepaid Insurance 8,470 Land 89,000 Buildings...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT