A six-column table for JKL Company follows. The first two columns
contain the unadjusted trial balance for the company as of July 31,
2018. The last two columns contain the adjusted trial balance as of
the same date.
Unadjusted Trial Balance |
Adjusted Trial Balance |
||||||||
Cash | $ | 83,420 | $ | 83,420 | |||||
Accounts receivable | 13,000 | 22,000 | |||||||
Office supplies | 18,400 | 8,000 | |||||||
Prepaid insurance | 9,640 | 3,960 | |||||||
Office equipment | 88,000 | 88,000 | |||||||
Accum. Depreciation—Office equip. | $ | 23,000 | $ | 36,000 | |||||
Accounts payable | 10,100 | 18,000 | |||||||
Interest payable | 0 | 2,500 | |||||||
Salaries payable | 0 | 5,000 | |||||||
Unearned consulting fees | 24,000 | 18,000 | |||||||
Long-term notes payable | 54,000 | 54,000 | |||||||
Common stock | 26,400 | 26,400 | |||||||
Retained earnings | 17,600 | 17,600 | |||||||
Dividends | 8,500 | 8,500 | |||||||
Consulting fees earned | 162,000 | 177,000 | |||||||
Depreciation expense—Office equip. | 0 | 13,000 | |||||||
Salaries expense | 67,680 | 72,680 | |||||||
Interest expense | 1,300 | 3,800 | |||||||
Insurance expense | 0 | 5,680 | |||||||
Rent expense | 14,680 | 14,680 | |||||||
Office supplies expense | 0 | 10,400 | |||||||
Advertising expense | 12,480 | 20,380 | |||||||
Totals | $ | 317,100 | $ | 317,100 | $ | 354,500 | $ | 354,500 | |
2(a-1) Prepare JKL Company's income statement
for the year ended July 31, 2018.
2(a-2) Prepare JKL Company's statement of retained
earnings for the year ended July 31, 2018. Note: Retained earnings
at July 31, 2017, was $17,600, and the current-year dividends were
$8,500.
2(b) Prepare JKL Company's balance sheet as of
July 31, 2018.
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A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance...
A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance Adjusted Trial Balance Cash $ 108,120 $ 108,120 Accounts receivable 10,000 20,000 Office supplies 17,200 6,500 Prepaid insurance 7,540 3,160 Office equipment 90,000 90,000 Accum. Depreciation—Office equip. $ 25,000 $ 32,000 Accounts payable 10,100 24,000 Interest payable 0 3,000...
Required information A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance Adjusted Trial Balance Cash $ 106,100 $ 106,100 Accounts receivable 12,000 21,000 Office supplies 16,600 10,000 Prepaid insurance 6,940 3,560 Office equipment 91,000 91,000 Accum. Depreciation—Office equip. $ 25,000 $ 28,000 Accounts payable 10,100 24,000 Interest payable...
A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2015. The last two columns contain the adjusted trial balance as of the same date. Analyze the differences between the unadjusted and adjusted trial balances to determine the adjustments that likely were made. Show the results of your analysis by entering these adjustment amounts in the cells provided.
Required information (The following information applies to the questions displayed below.] A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance $ 34,000 14,000 16,000 8,540 84,000 $ 14,000 9, 100 Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accum. Depreciation office equip. Accounts payable Interest payable Salaries payable...
Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3, P4, P5, P6 [The following information applies to the questions displayed below.) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance $ 92,680 12.000 17,200 6,940 88,000 $ 24,000 9.100 Cash Accounts receivable...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3, P4, P5, P6 The following information applies to the questions displayed below.) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance $ 92,680 12.000 17.200 6,90 88,000 $ 24,000 9.100 Mccounts...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 [The following information applies to the questions displayed below.) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. $ Unadjusted Trial Balance 90.400 12,000 17,800 6.640 90,000 $ 24,000 10,100 Cash Accounts receivable...
Ngorithmic Soved Help Save & Exit Submit Check my work A six column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Tr Balance $ 103,390 14.000 17.200 9,840 BS, 080 $ 24,000 9,100 26, Cash Accounts receivable office supplies Prepaid insurance Office equipment Accum. Depreciation Office equip. Accounts payable Interest payable Salaries...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 The following information applies to the questions displayed below] A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Adjusted Trial Balance $ 90,400 19,000 Unadjusted Trial Balance $ 90,400 12,000 17,800 6,640 90,000...
(The following information applies to the questions displayed below.) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance $120,660 11,000 17,800 6,640 82,000 $ 23,000 9,100 Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accum. Depreciation-office equip. Accounts payable Interest payable Salaries payable Unearned consulting fees Long-term notes...