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Calculator Mastery Problem: The Adjusting Process Unadjusted Financial Statements Adjusted Financial Statements Chart of Accounts Unadjusted...
Mastery Problem: The Adjusting Process. Unadjusted Financial Statements These financial statements were prepared from the unadjusted...
Mastery Problem: The Adjusting Process. Unadjusted Financial Statements These financial statements were prepared from the unadjusted trial balance. Cole Designs Inc. Income Statement For the Year Ended December 31, 20Y3 Fees earned $69,400 Wages expense (44,600) Net income $24,800 Cole Designs Inc. Balance Sheet December 31, 20Y3 Assets Cash Accounts receivable Supplies Prepaid insurance Office equipment Total assets Liabilities Unearned fees Stockholders' Equity $4,250 31,800 3,650 4,600 11,000 $55,300 $10,100 Chapter 3 Quiz Calculator $10,100 Unearned fees Stockholders' Equity Common...
CHART OF ACCOUNTS Cole Designs General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts...
CHART OF ACCOUNTS Cole Designs General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 14 Supplies EXPENSES 15 Prepaid Insurance 51 Wages Expense 18 Equipment 52 Supplies Expense 55 Insurance Expense 19 Accumulated Depreciation-Equipment 56 Depreciation Expense 18 Equipment 52 Supplies Expense 19 Accumulated Depreciation-Equipment 55 Insurance Expense 56 Depreciation Expense LIABILITIES 22 Wages Payable 23 Unearned Fees EQUITY 31 Ann Cole, Capital 32 Ann Cole, Drawing These financial statements were prepared from the unadjusted trial balance....
please answer the red boxes. one of the red boxes is not Capital, cash or equipment....
please answer the red boxes. one of the red boxes is not
Capital, cash or equipment. the first two boxes are not net
income.
Aujusteu PInancial Statements Matching Principle/Revenue Recognition Oversta- Adjusting Entries These financial statements were prepared from the unadjusted trial balance. Cole Designs Income Statement For the Year Ended December 31, 2018 1 Fees earned $70,600.00 2 Wages expense 44,300.00 3 Net income $26,300.00 Adjusted Financial Statements Matching Principle/Revenue RecognitionOverstate- Adjusting Entries Assets 2 Cash $5,000.00 3 Accounts...
Unadjusted Financial Statements income Statement For the Year Ended December 31, 2017 Service revenue $70,600.00 Wages...
Unadjusted Financial Statements income Statement For the Year Ended December 31, 2017 Service revenue $70,600.00 Wages expense 44,300.00 Net income $26,300.00 Cole Designs Inc. Balance Sheet December 31, 2017 Assets Cash $5,000.00 Accounts receivable 32,600.00 Supplies 3,650.00 5 Prepaid insurance 4,000.00 6 Office equipment 11,000.00 Total assets $56,250.00 Liabilities Unearned revenue $9,500.00 Stockholders' Equity Common stock $12,000.00 12 Retained earnings 34,750.00 46,750.00 13 Total liabilities and stockholders'equity $56,250.00 Cole Designs Inc. Income Statement For the Year Ended December 31, 2017...
Need help setting up Adjusted balance, Unadjusted balance, trial balance, Income statement, balance sheet, retained earnings,...
Need help setting up Adjusted balance, Unadjusted balance,
trial balance, Income statement, balance sheet, retained earnings,
and closing entries.
Guadalupe Rios demonstrated entrepreneurial spirit by starting a graphic design business called G's Designs. Based on an excellent business plan, Guadalupe was able to raise sufficient capital to begin operations on 1 July 2019. Guadalupe must now close the books at 31 December and prepare financial statements, 4 6 8 Item Adjusting entries needed 1 The balance in the Prepaid Insurance...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1,...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 The following information applies to the questions displayed below] A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Adjusted Trial Balance $ 90,400 19,000 Unadjusted Trial Balance $ 90,400 12,000 17,800 6,640 90,000...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO C3,...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO C3, A1, P1, P2, P3 [The following information applies to the questions displayed below.] A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance Adjusted Trial Balance Cash $ 121,140 $ 121,140 Accounts receivable...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1,...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 The following information applies to the questions displayed below.) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Unad justed Trial Balance $ 90,400 12,000 17,800 6.640 90,000 $ 24,000 10,100 0 Cash...
Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3...
Problem 3-4A Interpreting unadjusted and adjusted trial
balances, and preparing financial statements LO P1, P2, P3
A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Unad usted Trial Balance $187.240 11,089 17,200 9.648 88,888 $24.888 10,180 Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accum. Depreciation-office equip. Accounts payable Interest...
Calculator Instruction Chart of Accounts General Journal Final Question Instruction REM Consulting is completing the accounting...
Calculator Instruction Chart of Accounts General Journal Final Question Instruction REM Consulting is completing the accounting information processing at the end of the fiscal year, December 31. The following trial balances are available Accounts Unadjusted Trial Adjusted Trial Debit Credit Debit Credit Cash 13,000 13,000 Accounts Receivable 1,500 1,800 Prepaid Insurance 600 200 Supplies 3,800 3,000 Machines 30,000 30,000 Accumulated Depreciation 12,000 17,500 Wages Payable 900 Uneamed Fees 6,700 6,500 Common stock 24,000 24,000 Dividends 4.800 4,800 Fees Earned 25,000...
Mastery Problem: The Adjusting Process. Unadjusted Financial Statements These financial statements were prepared from the unadjusted trial balance. Cole Designs Inc. Income Statement For the Year Ended December 31, 20Y3 Fees earned $69,400 Wages expense (44,600) Net income $24,800 Cole Designs Inc. Balance Sheet December 31, 20Y3 Assets Cash Accounts receivable Supplies Prepaid insurance Office equipment Total assets Liabilities Unearned fees Stockholders' Equity $4,250 31,800 3,650 4,600 11,000 $55,300 $10,100 Chapter 3 Quiz Calculator $10,100 Unearned fees Stockholders' Equity Common...
CHART OF ACCOUNTS Cole Designs General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 14 Supplies EXPENSES 15 Prepaid Insurance 51 Wages Expense 18 Equipment 52 Supplies Expense 55 Insurance Expense 19 Accumulated Depreciation-Equipment 56 Depreciation Expense 18 Equipment 52 Supplies Expense 19 Accumulated Depreciation-Equipment 55 Insurance Expense 56 Depreciation Expense LIABILITIES 22 Wages Payable 23 Unearned Fees EQUITY 31 Ann Cole, Capital 32 Ann Cole, Drawing These financial statements were prepared from the unadjusted trial balance....
please answer the red boxes. one of the red boxes is not
Capital, cash or equipment. the first two boxes are not net
income.
Aujusteu PInancial Statements Matching Principle/Revenue Recognition Oversta- Adjusting Entries These financial statements were prepared from the unadjusted trial balance. Cole Designs Income Statement For the Year Ended December 31, 2018 1 Fees earned $70,600.00 2 Wages expense 44,300.00 3 Net income $26,300.00 Adjusted Financial Statements Matching Principle/Revenue RecognitionOverstate- Adjusting Entries Assets 2 Cash $5,000.00 3 Accounts...
Unadjusted Financial Statements income Statement For the Year Ended December 31, 2017 Service revenue $70,600.00 Wages expense 44,300.00 Net income $26,300.00 Cole Designs Inc. Balance Sheet December 31, 2017 Assets Cash $5,000.00 Accounts receivable 32,600.00 Supplies 3,650.00 5 Prepaid insurance 4,000.00 6 Office equipment 11,000.00 Total assets $56,250.00 Liabilities Unearned revenue $9,500.00 Stockholders' Equity Common stock $12,000.00 12 Retained earnings 34,750.00 46,750.00 13 Total liabilities and stockholders'equity $56,250.00 Cole Designs Inc. Income Statement For the Year Ended December 31, 2017...
Need help setting up Adjusted balance, Unadjusted balance,
trial balance, Income statement, balance sheet, retained earnings,
and closing entries.
Guadalupe Rios demonstrated entrepreneurial spirit by starting a graphic design business called G's Designs. Based on an excellent business plan, Guadalupe was able to raise sufficient capital to begin operations on 1 July 2019. Guadalupe must now close the books at 31 December and prepare financial statements, 4 6 8 Item Adjusting entries needed 1 The balance in the Prepaid Insurance...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 The following information applies to the questions displayed below] A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Adjusted Trial Balance $ 90,400 19,000 Unadjusted Trial Balance $ 90,400 12,000 17,800 6,640 90,000...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3 The following information applies to the questions displayed below.) A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Unad justed Trial Balance $ 90,400 12,000 17,800 6.640 90,000 $ 24,000 10,100 0 Cash...
Problem 3-4A Interpreting unadjusted and adjusted trial
balances, and preparing financial statements LO P1, P2, P3
A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Unad usted Trial Balance $187.240 11,089 17,200 9.648 88,888 $24.888 10,180 Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accum. Depreciation-office equip. Accounts payable Interest...
Calculator Instruction Chart of Accounts General Journal Final Question Instruction REM Consulting is completing the accounting information processing at the end of the fiscal year, December 31. The following trial balances are available Accounts Unadjusted Trial Adjusted Trial Debit Credit Debit Credit Cash 13,000 13,000 Accounts Receivable 1,500 1,800 Prepaid Insurance 600 200 Supplies 3,800 3,000 Machines 30,000 30,000 Accumulated Depreciation 12,000 17,500 Wages Payable 900 Uneamed Fees 6,700 6,500 Common stock 24,000 24,000 Dividends 4.800 4,800 Fees Earned 25,000...
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