Homework Answers
| Baba Repairs Service | ||
| Income statement | ||
| For the year ended December 31,2012 | ||
| Service Revenue | $ 50,000 | |
| less: Expenses | ||
| Salaries and wages expense | $ 21,000 | |
| Rent expense | $ 14,000 | |
| Supplies expense | $ 500 | |
| Depreciation expense | $ 8,500 | ($ 44,000) |
| Net income | $ 6,000 |
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points) Below is the adjusted trial balance for Baba Repair Service. Please prepare the income statement...
The adjusted trial balance of Debit Company is shown below: &n
The adjusted trial balance of Debit Company is shown below: Debit Company Adjusted Trial Balance December 31, 2012 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable $4,000 Salary payable 2,000 Unearned revenue (2 month advance) 2,000 Note payable — long term 14,000 Common stock 10,000 Retained earnings 14,700 Dividends 4,000 Service revenue 75,000 Salary expense 40,000 Rent expense 10,000 Supplies expense 1,500 Depreciation expense 5,000 Utilities expense 1,200 ...
The unadjusted trial balance and income statement amounts from the December 31 adjusted trial balance of...
The unadjusted trial balance and income statement amounts from
the December 31 adjusted trial balance of
Emerson Production Company follow.
.Use the data in the partial worksheet to prepare Emerson
Production Company's
classified balance sheet at December 31 of the current year. Use
the report format. First you must calculate the adjusted balance
for several of the balance-sheet accounts.
Let's prepare the balance sheet for Emerson Production
Company
(If a box is not used in the balance sheet leave the...
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each...
Prepare the Statement of Retained Earnings from the Adjusted
Trial Balance and Income Statement. Within each section of the
statement, use the drop-down menus to enter the accounts in Chart
of Accounts order and select the account balances.
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, use the drop-down menus to enter the accounts in Chart of Accounts order and select the account balances. SMART TOUCH LEARNING SMART...
Create an Income Statement I TUDIUM 1. The adjusted trial balance of Debit Company is shown...
Create an Income Statement
I TUDIUM 1. The adjusted trial balance of Debit Company is shown below: Debit Company Adjusted Trial Balance December 31, 20X7 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock Retained earnings- Dividends Service revenue Salary expense 40,000 Rent expense 10,000 Supplies expense Depreciation expense 5,000 Utilities expense 1,200 $4,000 2,000 2,000 14,000 10,000...
The adjusted trial balance for Mosley's Mosaic Tiles at December 31, 2021 is as follows: Credit...
The adjusted trial balance for Mosley's Mosaic Tiles at December 31, 2021 is as follows: Credit $5,200 Mosley Mosaic Tiles Adjusted Trial Balance December 31, 2021 Debit Cash $31,400 Accounts receivable 26,500 Prepaid insurance 2,000 Prepaid rent 5,000 Supplies 3,330 Equipment 17.500 Accumulated depreciation equipment Furniture 25,000 Accumulated depreciation-furniture Accounts payable Salary payable Unearned revenue Mortgage payable (due in 2040) M. Mosaic, drawings 15,000 M. Mosaic, capital Service revenue Salary expense 24,387 Depreciation expense 4,500 Rent expense 5,500 Insurance expense...
Dawson Hair Stylists' adjusted trial balance follows Prepare Dawson's income statement for the year ended December...
Dawson Hair Stylists' adjusted trial balance follows Prepare Dawson's income statement for the year ended December 31, 2018 (Click on the icon to view the adjusted trial balance.) Year Ended December 31, 2018 Choose from any list or enter any number in the input fields and then click Check Answer. Cash $ 1,200 Accounts Receivable 2,000 Office Supplies 1,100 20,000 Equipment Accumulated Depreciation-Equipment $ 1,800 Accounts Payable 900 Interest Payable 400 Notes Payable 3.500 Common Stock 14.000 Common Stock 14,000...
Preparation of financial statements Using the Adjusted Trial Balance shown below, prepare the company’s: (a) ...
Preparation of financial statements Using the Adjusted Trial Balance shown below, prepare the company’s: (a) Income Statement (b) Statement of Retained Earnings (c) Balance Sheet by completing the tables provided on the following pages. Repair Shop Adjusted Trial Balance Dec. 31, 2016 Debit Credit Cash $ 30,000 Supplies 2,000 Accounts Receivable 70,000 Equipment 30,000 Accumulated Depreciation on Equipment $ 10,000 Accounts Payable 20,000 Notes Payable 5,000 Income Taxes Payable 20,000 Capital Stock 30,000 Retained Earnings (as of Jan 1, 2016)...
The adjusted trial balance for Jurassic Services Company at December 31, 2021 is as follows: Jurassic...
The adjusted trial balance for Jurassic Services Company at December 31, 2021 is as follows: Jurassic Services Company Adjusted Trial Balance December 31, 2021 Debit Credit Cash $21,400 Accounts receivable 1,500 Prepaid insurance 2,000 Prepaid rent 5,000 Supplies 3,330 Equipment 17,500 Accumulated depreciation-equipment $5,200 Furniture 25,000 Accumulated depreciation-furniture 4,250 Accounts payable 8,400 Salary payable 12,200 Unearned revenue 6,700 J. Jurassic, drawings 15,000 J. Jurassic, capital 58,567 Service revenue 33,500 Salary expense 24,387 Depreciation expense 4,500 Rent expense 5,500 Insurance expense...
Instructions Using the information in the adjusted trial balance, do the following (a) Prepare an income...
Instructions Using the information in the adjusted trial balance, do the following (a) Prepare an income statement and a retained earnings statement for the 2 months ended December 31, 2017, and a classified statement of financial position at December 31, 2017. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2019. (b) Mei-ling has decided that her year end will be December 31, 2017. Prepare closing entries as of...
the template adjusted trail balance, prepare an Income Statement, Owner's Equity Statement, and CLASSIFIED Balance Sheet...
the template
adjusted trail balance, prepare an Income Statement, Owner's Equity Statement, and CLASSIFIED Balance Sheet for the month ended Dec. 31st. You may use the template provided or attach an excel spreadsheet with your solution. Trent Company Adjusted Trial Balance December 31 Account Debit Credit 12700 20000 15000 35000 Cash Accounts Receivable Prepaid Insurance Equipment Acc Depreciation Equipment Accounts Payable Unearned Revenue Notes Payable Trent, Capital Trent, Drawing Service Revenue Adversting Expense Depreciation Expense Salary Expense Insurance Expense Rent...
The unadjusted trial balance and income statement amounts from
the December 31 adjusted trial balance of
Emerson Production Company follow.
.Use the data in the partial worksheet to prepare Emerson
Production Company's
classified balance sheet at December 31 of the current year. Use
the report format. First you must calculate the adjusted balance
for several of the balance-sheet accounts.
Let's prepare the balance sheet for Emerson Production
Company
(If a box is not used in the balance sheet leave the...
Prepare the Statement of Retained Earnings from the Adjusted
Trial Balance and Income Statement. Within each section of the
statement, use the drop-down menus to enter the accounts in Chart
of Accounts order and select the account balances.
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, use the drop-down menus to enter the accounts in Chart of Accounts order and select the account balances. SMART TOUCH LEARNING SMART...
Create an Income Statement
I TUDIUM 1. The adjusted trial balance of Debit Company is shown below: Debit Company Adjusted Trial Balance December 31, 20X7 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock Retained earnings- Dividends Service revenue Salary expense 40,000 Rent expense 10,000 Supplies expense Depreciation expense 5,000 Utilities expense 1,200 $4,000 2,000 2,000 14,000 10,000...
The adjusted trial balance for Mosley's Mosaic Tiles at December 31, 2021 is as follows: Credit $5,200 Mosley Mosaic Tiles Adjusted Trial Balance December 31, 2021 Debit Cash $31,400 Accounts receivable 26,500 Prepaid insurance 2,000 Prepaid rent 5,000 Supplies 3,330 Equipment 17.500 Accumulated depreciation equipment Furniture 25,000 Accumulated depreciation-furniture Accounts payable Salary payable Unearned revenue Mortgage payable (due in 2040) M. Mosaic, drawings 15,000 M. Mosaic, capital Service revenue Salary expense 24,387 Depreciation expense 4,500 Rent expense 5,500 Insurance expense...
Dawson Hair Stylists' adjusted trial balance follows Prepare Dawson's income statement for the year ended December 31, 2018 (Click on the icon to view the adjusted trial balance.) Year Ended December 31, 2018 Choose from any list or enter any number in the input fields and then click Check Answer. Cash $ 1,200 Accounts Receivable 2,000 Office Supplies 1,100 20,000 Equipment Accumulated Depreciation-Equipment $ 1,800 Accounts Payable 900 Interest Payable 400 Notes Payable 3.500 Common Stock 14.000 Common Stock 14,000...
Instructions Using the information in the adjusted trial balance, do the following (a) Prepare an income statement and a retained earnings statement for the 2 months ended December 31, 2017, and a classified statement of financial position at December 31, 2017. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2019. (b) Mei-ling has decided that her year end will be December 31, 2017. Prepare closing entries as of...
the template
adjusted trail balance, prepare an Income Statement, Owner's Equity Statement, and CLASSIFIED Balance Sheet for the month ended Dec. 31st. You may use the template provided or attach an excel spreadsheet with your solution. Trent Company Adjusted Trial Balance December 31 Account Debit Credit 12700 20000 15000 35000 Cash Accounts Receivable Prepaid Insurance Equipment Acc Depreciation Equipment Accounts Payable Unearned Revenue Notes Payable Trent, Capital Trent, Drawing Service Revenue Adversting Expense Depreciation Expense Salary Expense Insurance Expense Rent...
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