As per policy, only four parts are allowed to answer at a time, but here answering 5 parts for you:
Worksheet: | ||||||||||
Trial balance | Adjustments | Adj. Trial Balance | Income Statement | Balance Sheet | ||||||
Account titles | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. |
Cash | 8500 | 8500 | 8500 | |||||||
AR | 28600 | 28600 | 28600 | |||||||
Inventory | 42500 | 41800 | 42500 | 41800 | 41800 | |||||
Supplies | 6100 | 3600 | 2500 | 2500 | ||||||
Equipment | 131000 | 131000 | 131000 | |||||||
Acc Dep-Eq. | 27000 | 14000 | 41000 | 41000 | ||||||
Notes payable | 50500 | 50500 | 50500 | |||||||
AP | 39400 | 39400 | 39400 | |||||||
Com Stock | 50000 | 50000 | 50000 | |||||||
RE | 40000 | 10500 | 29500 | 29500 | ||||||
Dividends | 10500 | 10500 | ||||||||
Sales Rev. | 755800 | 755800 | 755800 | |||||||
Sales Ret.& Allow. | 8800 | 8800 | 8800 | |||||||
COGS | 497400 | 42500 | 41800 | 498100 | 498100 | |||||
Sal.& wages exp. | 139600 | 139600 | 139600 | |||||||
Advertising exp. | 24000 | 24000 | 24000 | |||||||
Utilities exp. | 13900 | 13900 | 13900 | |||||||
Maint.& Rep exp. | 11600 | 11600 | 11600 | |||||||
Freight out | 16400 | 16400 | 16400 | |||||||
Rent expense | 23800 | 23800 | 23800 | |||||||
Totals | 962700 | 962700 | ||||||||
Supplies exp. | 3600 | 3600 | 3600 | |||||||
Dep. Exp. | 14000 | 14000 | 14000 | |||||||
Int. exp. | 4000 | 4000 | 4000 | |||||||
Int. payable | 4000 | 4000 | 4000 | |||||||
totals | 116400 | 116400 | 970200 | 970200 | 757800 | 755800 | ||||
Net loss | 2000 | 2000 | ||||||||
Totals | 214400 | 214400 |
Income Statement: | |
Amount $ | |
Sales Rev. | 755800 |
Sales Ret.& Allow. | 8800 |
Net Sales | 747000 |
Less: COGS | 498100 |
Gross profit | 248900 |
Less: Expenses: | |
Sal.& wages exp. | 139600 |
Advertising exp. | 24000 |
Utilities exp. | 13900 |
Maint.& Rep exp. | 11600 |
Freight out | 16400 |
Rent expense | 23800 |
Supplies exp. | 3600 |
Dep. Exp. | 14000 |
Int. exp. | 4000 |
Total Expenses | 250900 |
Net Loss | 2000 |
Retained Earnings Statement: | |
Amount $ | |
Opening Balance | 40000 |
Less:Net Loss | 2000 |
Less:Dividends paid | 10500 |
Closing Balance | 27500 |
Balance Sheet: | |
Assets: | Amount $ |
Cash | 8500 |
AR | 28600 |
Inventory | 41800 |
Supplies | 2500 |
Current Assets | 81400 |
Equipment | 131000 |
Acc Dep-Eq. | -41000 |
Total Assets | 171400 |
Liabilities & Stock Eq.: | Amount $ |
Notes payable | 50500 |
AP | 39400 |
Int. payable | 4000 |
Current Liabilities | 93900 |
Com Stock | 50000 |
RE | 27500 |
Total Liabi. & St. Eq. | 171400 |
Adjusting Journal Entries; | |||
Date | Acc Titles | Debit $ | Credit $ |
30-Nov | Supplies exp. | 3600 | |
Supplies | 3600 | ||
(to adjust supplies exp.) | |||
30-Nov | Depre. Exp. | 14000 | |
Acc. Dep.- Eq. | 14000 | ||
(to adjust depreciation on equipment) | |||
30-Nov | Interest exp. | 4000 | |
Interest payable | 4000 | ||
(to adjust interest exp.) | |||
30-Nov | Inventory | 41800 | |
Cost of goods sold | 41800 | ||
(to adjust closing inventory) |
Problem 5-05A a, b1-b3, c-e (Video) The trial balance of Blue Spruce Corp. contained the following...
Problem 5-05A a, b1-b3, c-e (Video) The trial balance of Blue Spruce Corp. contained the following accounts at November 30, the end of the company's fiscal year. Blue Spruce Corp. Trial Balance November 30, 2020 Credit Debit $ 8,500 28,500 42,500 6,100 131,000 $ 27,000 50,500 39,400 50,000 40,000 Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages...
Problem 5-05A a, b1-b3, c-e (Video) The trial balance of Blue Spruce Corp. contained the following accounts at November 30, the end of the company's fiscal year. Blue Spruce Corp. Trial Balance November 30, 2020 Credit Debit $ 8,500 28,500 42,500 6,100 131,000 $ 27,000 50,500 39,400 50,000 40,000 Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages...
The trial balance of Blue Spruce Corp.contained the following accounts at November 30, the end of the company's fiscal year. The company uses the perpetual inventory system. Blue Spruce Corp Trial Balance November 30, 2022 Credit Debit $8.500 28,600 42,500 6,100 131,000 Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages Expense $ 27.000 50,500 39,400 50,000 40,000 10.500...
Help! The trial balance of Nue Spruce Corp. contained the following accounts at November 30, the ex Trial Balance November 30, 2020 Credit Debit $ 8,500 28,600 2,500 6.100 131,000 $ 27,000 50,500 39,400 50.000 10,000 10,500 Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation Equipment Notes Pavable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages Expense Advertising Expense Utilities Expense Maintenance and Repairs Expense Freight-Out Rent Expense Totals...
The adjusted trial balance columns of the worksheet for Blue Spruce Company are as follows. Blue Spruce Company Worksheet (Partial) For the Month Ended April 30, 2019 Adjusted Trial Balance Account Titles Dr. Cr. Cash 11,400 Accounts Receivable 7,900 Prepaid Rent 2,100 Equipment 23,300 Accumulated Depreciation—Equip. 4,500 Notes Payable 5,500 Accounts Payable 4,800 Common Stock 22,290 Retained Earnings 7,810 Dividends 3,500 Service Revenue 15,800 Salaries and Wages Expense 10,900 Rent Expense 900 Depreciation Expense 700 Interest Expense 60 Interest Payable...
he adjusted trial balance columns of the worksheet for Blue Spruce Company are as follows. Blue Spruce Company Worksheet (Partial) For the Month Ended April 30, 2019 Adjusted Trial Balance Account Titles Dr. Cr. Cash 11,400 Accounts Receivable 7,900 Prepaid Rent 2,100 Equipment 23,300 Accumulated Depreciation—Equip. 4,500 Notes Payable 5,500 Accounts Payable 4,800 Common Stock 22,290 Retained Earnings 7,810 Dividends 3,500 Service Revenue 15,800 Salaries and Wages Expense 10,900 Rent Expense 900 Depreciation Expense 700 Interest Expense 60 Interest Payable...
The trial balance for Blue Spruce Corp. appears as follows: Blue Spruce Corp. Trial Balance December 31, 2022 $260 459 72 158 3520 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense $530 338 1060 1230 2631 880 440 $5789 $5789 If service for $154 had been performed but not billed, the adjusting entry to record this would include a: O debit to Service Revenue...
Blue Spruce Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cr. Cash 4,400 Accounts Receivable 3,200 1,670 Supplies Equipment 11,440 Accumulated Depreciation --Equipment 1,300.0 Accounts Payable 2,540 Unearned Service Revenue Common Stock 630 10,405 1,665 Retained Earnings Dividends 1,070 Service Revenue 6.700 Salaries and Wages Expense 1.130 Miscellaneous Expense 330 23.240 23.240. Other data: 1. A physical count reveals only $600 of roofing supplies on hand. 2. Depreciation for March is $260. 3. Unearned service...
The trial balance for Blue Spruce Corp. is shown below. Credit Blue Spruce Corp. Trial Balance October 31, 2020 Debit Cash $16,000 Supplies 2.100 Prepaid Insurance 800 Equipment 4,600 Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends 300 $4,900 2,000 1,800 10,100 -0- 10,600 Service Revenue Salaries and Wages Expense Rent Expense 4,800 800 $29,400 $29,400 Assume the following adjustment data. 1. 2. 3. 4. Supplies on hand at October 31 total $600. Expired insurance for...
Please help with all red sections Problem 5-05A a-e The trial balance of Flounder Fashion Center contained the following accounts at November 30, the end of the company's fiscal year, Credit FLOUNDER FASHION CENTER Trial Balance November 30, 2020 Debit Cash $ 21,100 Accounts Receivable 31,200 Inventory 43,400 Supplies 6,100 Equipment 133,000 Accumulated Depreciation Equipment Notes Payable Accounts Payable Owner's Capital Owner's Drawings 14,000 Sales Revenue Sales Returns and Allowances 9,000 Cost of Goods Sold 497,000 Salaries and Wages Expense...