Question

G CONSTRUCTION COMPANY Unadjusted Trial Balance December 31, 2030 ADJUSTMENTS DEBIT CREDIT CERIT DEBIT CREDIT 210.000 III 18.000 12,500 75.000 124.000 ACCOUNT TITLE Cash Notes Receivable Accounts Recente Inventory 12/31/2020 Prepaid insurance Prepaid Rent Supplies Land Equipment Accum Deprec-Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable (Due 2022) Owner's Capital Owner's Drawings Sales Revenue Sales Returns and Allowances Sales Discount Purchases Purchases and Allowances Purchases Discount Freight-in Rent Expense alaries and Wages Expense tilitities Expense dvertising Expense Ceret Expense Cerest Revenue int Revenue als 279.000 51.000 3.000 21.000 18.000 2.800 TIT 1900 2.200 15,000 2700 556.200 556,200

can you help andwering e & f

Answer 1

282400 -2100 -1900 278400 Statement of Income For the period ending 31.12.2020 Sales Revenue Sales Returns and Allowances Sales Discount Net Sales Cost of goods sold: Beginning Inventory Purchases Purchases and Allowances Purchases discount Freight in 47000 51000 -800 -1200 3000 99000 -42000 Ending Inventory 57000 26900 20800 2800 1900 9000 1100 Rent Expense Salaries and Wages Expense Utilities Expense Advertising Expense Depreciation Expense Supplies Expense Insurance Expense Operating Income Non Operating Items: Interest Revenue Rent Revenue Interest Expense Net Income 2300 64800 156600 15400 10700 -2200 23900 180500 Statement of Owner's Equity For the period ending 31.12.2020 Beginning Balance Net Income 124000 180500 304500 -4700 299800 Owner's Drawing

Amounts in $ Amounts in $ Balance sheet As at 31.12.2020 Assets Current Assets Cash Notes Receivable Interest Receivable Accounts Receivable Inventory Prepaid Insurance Prepaid Rent Supplies 28000 4500 2800 35300 Amounts in $ Amounts in $ Liabilities Current Liabilities 220000 Accounts Payable 24000 Unearned Rent Revenue 400 Salaries and Wages Payable 26400 42000 Non Current Liabilities 2000 Mortgage Payable 2500 1800 319100 75000 Non Current Assets Land Equipment Accum. Depre - Equip Total Assets 90000 -27000 28000 Owner's Equity 63000 Owner's Capital 410100 Total Liabilities & equity 299800 410100

Big Construction Company Adjusting Enteries Trans. Particulars Depreciation Expense a/c To Accum. Depre - Equip (To record depreciation) Dr. Debit in $ Credit in $ 9000 9000 2800 Salaries and Wages Expense a/c Dr. To Salaries and Wages Payable (Salaries accrued) 2800 alo Dr.. 5900 Rent Expense a/c To Prepaid Rent (Rent expensed) 8400 - 2500 5900 1100 Supplies Expense a/c Dr. To Supplies (Supplies expensed) 2900 - 1800 1100 6 Dr. 3400 Accounts Receivable a/c To Sales Revenue (Sales on account) 3400 2300 Insurance Expense a/c Dr. To Prepaid Insurance (Insurance expensed) 4300 - 2000 2300 Dr. 400 Interest Receivable a/c To Interest Revenue (Interest accrrued) 400 Dr. 8000 Unearned Rent Revenue a/c To Rent Revenue (Revenue earned) 8000

Closing Enteries Date Particulars 31.12.2020 Income Summary a/c Dr. To Sales Returns and Allowances To Sales Discount To Cost of goods sold To Rent Expense To Salaries and Wages Expense To Utilities Expense To Advertising Expense To Depreciation Expense To Supplies Expense To Insurance Expense To Interest Expense (Expense accounts closed) Debit in $ Credit in $ 128000 2100 1900 57000 26900 20800 2800 1900 9000 1100 2300 2200 Dr. 31.12.2020 Sales Revenue a/c Interest Revenue a/c Rent Revenue a/c To Income Summary (Revenue accounts closed) 282400 15400 10700 Dr. 308500 Dr. 180500 31.12.2020 Income Summary a/c To Owner's Capital (Profits transferred) 180500 Dr. 4700 31.12.2020 Owner's Capital a/c To Owner's Drawing (Drawings charged) 4700

Worksheet For the period ending 31.12.2020 Particulars Cash Notes Receivable Interest Receivable Accounts Receivable Inventory Prepaid Insurance Prepaid Rent Supplies Land Equipment Accum. Depre - Equip Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Mortgage Payable Owner's Capital Owner's Drawing Income Summary Sales Revenue Sales Returns and Allowances Sales Discount Purchases Purchases and allowances Purchases discount Freight in Rent Expense Salaries and Wages Expense Utilities Expense Advertising Expense Interest Expense Interest Revenue Rent Revenue Totals Depreciation Expense Supplies Expense Insurance Expense Totals Net Income Unadjusted Adjustments Adjusted Income Statement Balance sheet Debit in $ Credit in $ Debit in $ Credit in $ Debit in $ Credit in $ Debit in $ Credit in $ Debit in $ Credit in $ 220000 220000 220000 24000 24000 24000 400 400 400 23000 3400 26400 26400 47000 5000 42000 42000 4300 2300 2000 2000 8400 5900 2500 2500 2900 1100 1800 1800 28000 28000 28000 90000 90000 90000 18000 9000 27000 27000 28000 28000 28000 12500 8000 4500 4500 2800 2800 2800 75000 75000 75000 124000 124000 299800 4700 4700 5000 5000 5000 279000 3400 282400 282400 2100 2100 2100 1900 1900 1900 51000 51000 51000 800 800 800 1200 1200 1200 3000 3000 3000 21000 5900 26900 26900 18000 2800 20800 20800 2800 2800 2800 1900 1900 1900 2200 2200 2200 15000 400 15400 15400 2700 8000 10700 10700 556200 556200 9000 9000 9000 1100 1100 1100 2300 2300 2300 37900 37900 571800571800 130000 310500 437100 437100 180500