![Required information [The following information applies to the questions displayed below.] The December 31, 2021, unadjusted](http://img.homeworklib.com/questions/efa35560-719b-11ea-ac24-bb1fa3f415da.png?x-oss-process=image/resize,w_560)
Homework Answers
| Particulars | Unadjusted Trial Balance | Adjustments | Adjusted Trial Balance | Income Statement | Balance sheet | |||||
| Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr | |
| Cash | 53,040 | 53,040 | - | 53,040 | - | |||||
| Accounts receivable | 29,000 | 29,000 | - | 29,000 | - | |||||
| Prepaid Rent | 4,400 | 4,400 | - | 4,400 | - | |||||
| Inventory | 45,000 | 45,000 | - | 45,000 | - | |||||
| Equipment | 98,000 | 98,000 | - | 98,000 | - | |||||
| Accumalated depreciation | 29,400 | 9,800 | - | 39,200 | - | 39,200 | ||||
| Accounts Payable | 32,000 | - | 32,000 | - | 32,000 | |||||
| Salary payable | - | 5,840 | - | 5,840 | - | 5,840 | ||||
| Common Stock | 1,00,000 | - | 1,00,000 | - | 1,00,000 | |||||
| Retained Earning | 28,000 | - | 28,000 | - | 28,000 | |||||
| Sales Revenue | 4,53,000 | - | 4,53,000 | - | 4,53,000 | |||||
| Cost of goods | 2,71,800 | 2,71,800 | - | 2,71,800 | - | |||||
| Salary Expenses | 90,600 | 5,840 | 96,440 | - | 96,440 | - | ||||
| Rent Expenses | 26,400 | 26,400 | - | 26,400 | - | |||||
| Depreciation | - | 9,800 | 9,800 | - | 9,800 | - | ||||
| Utilities expense | 18,120 | 18,120 | - | 18,120 | - | |||||
| Advertising Expense | 6,040 | 6,040 | - | 6,040 | - | |||||
| Net Profit | - | - | - | 24,400 | - | - | 24,400 | |||
| TOTAL | 6,42,400 | 6,42,400 | 15,640 | 15,640 | 6,58,040 | 6,58,040 | 4,53,000 | 4,53,000 | 2,29,440 | 2,29,440 |
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Required information [The following information applies to the questions displayed below.] The December 31, 2021, unadjusted...
Required Information The following information applies to the questions displayed below) The December 31, 2021, unadjusted...
Required Information The following information applies to the questions displayed below) The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting dute. Account Title Debits Credits Cash 20,000 Accounts receivable 35,000 Prepaid rent 5,00 Inventory 50,00 Equipment 100,00 Accumulated depreciation Be, Accounts payable 25,000 Salaries payable Common stock 300. Retained earnings Sales revenue 323,00 Cost of goods sold 180,00 Salaries expense 71, Rent expense Depreciation expense 30,000 Utilities...
Exercise 2-20 (Algo) Worksheet (Appendix 2A) [The following information applies to the questions displayed below.) The...
Exercise 2-20 (Algo) Worksheet (Appendix 2A) [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Credits Debits 41,870 32,750 5,400 51,250 118,000 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Utilities expense Advertising expense...
Required information [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted...
Required information [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense Debit $ 8, 800 13,800 5,760 2,800 $ 1,800 10,000 4,800 43,560 29,000 $60,160 $60, 160 At year-end, the following additional information is available. 1. The balance of Prepaid Rent, $5,760, represents payment on October 31, 2021,...
Check Required information Exercise 2-20 (Algo) Worksheet (Appendix 2A] (The following information applies to the questions...
Check Required information Exercise 2-20 (Algo) Worksheet (Appendix 2A] (The following information applies to the questions displayed below.] The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Credits Debits 75,370 21,500 2,400 32,500 58,800 17,480 22,880 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation...
The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December...
The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company’s year-end reporting date. Account Title Debits Credits Cash 46,340 Accounts receivable 31,250 Prepaid rent 5,000 Inventory 48,750 Equipment 110,000 Accumulated depreciation 33,000 Accounts payable 35,000 Salaries payable 0 Common stock 100,000 Retained earnings 32,500 Sales revenue 483,000 Cost of goods sold 289,800 Salaries expense 96,600 Rent expense 30,000 Depreciation expense 0 Utilities expense 19,320 Advertising expense 6,440 Totals 683,500 683,500...
Required information [The following information applies to the questions displayed below.) The December 31, 2021, adjusted...
Required information [The following information applies to the questions displayed below.) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,500 135,000 4,500 22,500 250,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $ 120,000 10,500 9,500 3,500 25,000 150,000 45,000 350,000...
Required: 1. Prepare and complete a worksheet. 2. Prepare an income statement for 2021 and a...
Required:
1. Prepare and complete a worksheet.
2. Prepare an income statement for 2021 and a
balance sheet as of December 31, 2021.
Required information [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Credits Debits 50,810 29,750 4,600 46,250 102,000 30,600 33,000 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries...
The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December...
The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date Credits Debits 75,370 21,500 2,400 32, see 58, eee 17,480 22,000 2 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Utilities expense Advertising expense Totals 100,000 13,000 353,000 211,800 70,600 14,400 14,120 4.710 505,...
The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December...
The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Credits Debits 41,870 32,750 5,400 51,250 118,000 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Utilities expense Advertising expense Totals 35,400 37,000 0 100,000 35,500 503,000 301,800 100,600 32,400 20,120 6710 710,900 710,900 The...
Required information [The following information applies to the questions displayed below) The December 31, 2021, unadjusted...
Required information [The following information applies to the questions displayed below) The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense Debit $ 8,800 13,800 5,760 2,800 $ 1.800 10.000 4.300 43, 560 29,000 660,160 $60,160 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,760, represents payment on October 31, 2021, for...
Required Information The following information applies to the questions displayed below) The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting dute. Account Title Debits Credits Cash 20,000 Accounts receivable 35,000 Prepaid rent 5,00 Inventory 50,00 Equipment 100,00 Accumulated depreciation Be, Accounts payable 25,000 Salaries payable Common stock 300. Retained earnings Sales revenue 323,00 Cost of goods sold 180,00 Salaries expense 71, Rent expense Depreciation expense 30,000 Utilities...
Exercise 2-20 (Algo) Worksheet (Appendix 2A) [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Credits Debits 41,870 32,750 5,400 51,250 118,000 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Utilities expense Advertising expense...
Required information [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense Debit $ 8, 800 13,800 5,760 2,800 $ 1,800 10,000 4,800 43,560 29,000 $60,160 $60, 160 At year-end, the following additional information is available. 1. The balance of Prepaid Rent, $5,760, represents payment on October 31, 2021,...
Check Required information Exercise 2-20 (Algo) Worksheet (Appendix 2A] (The following information applies to the questions displayed below.] The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Credits Debits 75,370 21,500 2,400 32,500 58,800 17,480 22,880 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation...
Required information [The following information applies to the questions displayed below.) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,500 135,000 4,500 22,500 250,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $ 120,000 10,500 9,500 3,500 25,000 150,000 45,000 350,000...
Required:
1. Prepare and complete a worksheet.
2. Prepare an income statement for 2021 and a
balance sheet as of December 31, 2021.
Required information [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Credits Debits 50,810 29,750 4,600 46,250 102,000 30,600 33,000 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries...
The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date Credits Debits 75,370 21,500 2,400 32, see 58, eee 17,480 22,000 2 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Utilities expense Advertising expense Totals 100,000 13,000 353,000 211,800 70,600 14,400 14,120 4.710 505,...
The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Credits Debits 41,870 32,750 5,400 51,250 118,000 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Utilities expense Advertising expense Totals 35,400 37,000 0 100,000 35,500 503,000 301,800 100,600 32,400 20,120 6710 710,900 710,900 The...
Required information [The following information applies to the questions displayed below) The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense Debit $ 8,800 13,800 5,760 2,800 $ 1.800 10.000 4.300 43, 560 29,000 660,160 $60,160 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $5,760, represents payment on October 31, 2021, for...
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