Identify Financial Statements from Adjusted Trial Balance Accounts
Identify Financial Statements from Adjusted Trial
Balance Accounts
Trownel Corp reports the following accounts in its adjusted trial
balance. Identify which financial statement each account would
appear on:
Homework Answers
| Account | Financial Statement |
| Cash | Balance Sheet ( As an Asset) |
| Sales | Income Statement |
| Accounts Payable | Balances sheet, ( As a Liability) |
| Unearned Revenue | Balances sheet, ( As a Liability) |
| Retained Earnings | Balances sheet, ( As a Equity) |
| Interest Income | Income Statement |
1) The financial statements are prepared from the A) adjusted trial balance B) chart of accounts...
1) The financial statements are prepared from the A) adjusted trial balance B) chart of accounts C) statement of owner's equity D) unadjusted trial balance 2) Assets that are expected to be converted to cash, sold, or used up during the next 12 months, or within the business's normal operating cycle if the cycle is longer than a year, are called assets. A) intangible B) plant C) long-term D) current
O Preparing financial statements from an adjusted trial balance. ta-50 min] May 31, 2012, follows P3-37A...
O Preparing financial statements from an adjusted trial balance. ta-50 min] May 31, 2012, follows P3-37A year en PARTY PIANO TUNING SERVICE Adjusted Trial Balanoe May 31, 2012 12,600 0,800 1,900 25,900 s 12.500 Accounts payable Linearned service revenoe Salary payabe Nose payable Lindros, capital Lindros, drawing Service tevenne 14,000 13,600 Salary espens Calities expense lnsurance expene Supplies expense Toca 9,600 3,900 3,700 1. Prepare Party's 2012 income statement 2 Prepare the statement of owner's equity for the year 3....
Listed below are accounts that appear in financial statements.
Listed below are accounts that appear in financial statements.Required:Identify the financial statement(s) in which each of the following three accounts would be found.Note: An account may appear in more than one financial statement.
EX 4-1 Flow of accounts into financial statements OBJ. 1, 2 The balances for the accounts...
EX 4-1 Flow of accounts into financial statements The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner's equity, or balance sheet. 1. Accounts Payable 6. Supplies 2. Accounts Receivable 7. Unearned Rent 3. Cash 8. Utilities Expense 4. Eddy Rosewood, Drawing 9. Wages Expense 5. Fees Earned 10. Wages Payable EX 4-2 Classifying accounts Balances for each of the following accounts appear in an adjusted trial balance. Identify each as (a)...
Flow of Accounts into Financial Statements The balances for the accounts that follow appear in the...
Flow of Accounts into Financial Statements The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner's equity, or balance sheet. 1. Accounts Payable 2. Depreciation Expense 3. Nat Hager, Capital (beginning of period) 4. Office Equipment 5. Rent Revenue 6. Supplies Expense 7. Unearned Rent 8. Wages Payable
02 Exercises The balances for the accounts that follow appear in the Adjusted Trial Bal of...
02 Exercises The balances for the accounts that follow appear in the Adjusted Trial Bal of the Obi 1,2 lance columns account would flow into the EX 4-1 Flow of accounts into financial statements end-of-period spreadsheet. Indicate whether each earnings statement, or balance sheet. e stat 1. Accounts Payable 85 6. Supplies & Accounts Receivable 3. Cash 8S 4. Dividends e s fres amed S 7. Unearned Rent 8. Utilities Expense 9. Wages Expense TS 10. Weges Payable Obj. 1,...
5-11. Financial Statements from an adjusted trial balance you are given the following accounts in alphabetical...
5-11. Financial Statements from an adjusted trial balance you are given the following accounts in alphabetical order. On the columnar nan follow e columnar papers following create a multi-step Income Statement, a Statement of Retained Earnings, and a classified Balance Sheet in good form. Your Tum, Inc. Account Listing For the year ended June 30, 2027 8,562 18.128 6,000 12,300 500 50,000 74,729 83.950 Accounts Payable Accounts Receivable Accumulated Depreciation: Truck Additional Paid-In Capital Amortization Expense Bonds Pavable Cash Common...
5-11. Financial Statements. From an adjusted trial balance, you are given the following accounts in alphabetical...
5-11. Financial Statements. From an adjusted trial balance, you are given the following accounts in alphabetical order. On the columnar papers following, create a multi-step Income Statement, a Statement of Retained Earnings, and a classified Balance Sheet in good form. Your Tum, Inc. Account Listing For the year ended June 30, 2027 8,562 18,128 6,000 12,300 500 50,000 74.729 83,950 I Accounts Payable Accounts Receivable Accumulated Depreciation: Truck Additional Paid-In Capital Amortization Expense Bonds Payable Cash Common Stock Cost of...
Below are all the accounts from the adjusted trial balance of Fisk Corporation. All accounts have...
Below are all the accounts from the adjusted trial balance of Fisk Corporation. All accounts have normal balances. Using the information below, prepare for the month ending December 31, 2016. 1. an income statement. 2. a retained earnings statement. 3. a balance sheet. **Remember to format your Financial Statements FISK CORPORATION Account Balances from the Adjusted Trial Balance December 31, 2016 Account Balance Salaries & Wages Payable………………………………………………. $ 5,800 Insurance Expense……………………………………………………….. 2,000 Notes Receivable…………………………………………………………. 10,000 Common Stock…………………………………………………………… 44,000 Inventory………………………………………………………………… 49,400 Cost of Goods...
The End of the Accounting Cycle – prepare the financial statements: The adjusted trial balance for...
The End of the Accounting Cycle – prepare the financial statements: The adjusted trial balance for Scoops Ahoy, Inc. as of July, 2020 is given below: Scoops Ahoy Adjusted Trial Balance As of 7/31/2020 Account: DEBIT: CREDIT: Cash $ 61,080 Accounts Receivable $ 59,111 Inventory $ 50,354 Equipment $ 90,240 Accumulated Depreciation - Equipment $ 9,024 Land $ 11,440 Goodwill $ 68,707 Accounts Payable $ 44,819 Wages Payable $ 8,420 Utilities Payable $ 930 Interest Payable $ 820 Notes Payable...
1) The financial statements are prepared from the A) adjusted trial balance B) chart of accounts C) statement of owner's equity D) unadjusted trial balance 2) Assets that are expected to be converted to cash, sold, or used up during the next 12 months, or within the business's normal operating cycle if the cycle is longer than a year, are called assets. A) intangible B) plant C) long-term D) current
O Preparing financial statements from an adjusted trial balance. ta-50 min] May 31, 2012, follows P3-37A year en PARTY PIANO TUNING SERVICE Adjusted Trial Balanoe May 31, 2012 12,600 0,800 1,900 25,900 s 12.500 Accounts payable Linearned service revenoe Salary payabe Nose payable Lindros, capital Lindros, drawing Service tevenne 14,000 13,600 Salary espens Calities expense lnsurance expene Supplies expense Toca 9,600 3,900 3,700 1. Prepare Party's 2012 income statement 2 Prepare the statement of owner's equity for the year 3....
Listed below are accounts that appear in financial statements.Required:Identify the financial statement(s) in which each of the following three accounts would be found.Note: An account may appear in more than one financial statement.
02 Exercises The balances for the accounts that follow appear in the Adjusted Trial Bal of the Obi 1,2 lance columns account would flow into the EX 4-1 Flow of accounts into financial statements end-of-period spreadsheet. Indicate whether each earnings statement, or balance sheet. e stat 1. Accounts Payable 85 6. Supplies & Accounts Receivable 3. Cash 8S 4. Dividends e s fres amed S 7. Unearned Rent 8. Utilities Expense 9. Wages Expense TS 10. Weges Payable Obj. 1,...
5-11. Financial Statements from an adjusted trial balance you are given the following accounts in alphabetical order. On the columnar nan follow e columnar papers following create a multi-step Income Statement, a Statement of Retained Earnings, and a classified Balance Sheet in good form. Your Tum, Inc. Account Listing For the year ended June 30, 2027 8,562 18.128 6,000 12,300 500 50,000 74,729 83.950 Accounts Payable Accounts Receivable Accumulated Depreciation: Truck Additional Paid-In Capital Amortization Expense Bonds Pavable Cash Common...
5-11. Financial Statements. From an adjusted trial balance, you are given the following accounts in alphabetical order. On the columnar papers following, create a multi-step Income Statement, a Statement of Retained Earnings, and a classified Balance Sheet in good form. Your Tum, Inc. Account Listing For the year ended June 30, 2027 8,562 18,128 6,000 12,300 500 50,000 74.729 83,950 I Accounts Payable Accounts Receivable Accumulated Depreciation: Truck Additional Paid-In Capital Amortization Expense Bonds Payable Cash Common Stock Cost of...
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