Homework Answers
- In the 1st case, as the balancing figure is debit balance, it will be a net income, net income = 16700 - 12900 = 3800. The balance that will be carried to the balance sheet will be 3800 credit.
- In the 2nd case, the balancing figure is credit balance which will be a loss, loss = 37100 - 33000 = 4100. The balance which will be carried to balance sheet will be 4100 debit balance.
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Activity 4.a-Calculating Net Income/Loss on Income Statement & Balance Sheet/Equity For each scenario, calculate the net...
For each scenario, calculate the net income/loss, identify if it is net income or loss, and...
For each scenario, calculate the net income/loss, identify if it is net income or loss, and finalize the totals for the Income Statement and Balance Sheet columns. SMART TOUCH LEARNING Worksheet December 31, 2016 Unadjusted Trial Balance Income Statement Adjustments Adiusted Trial Balance Balance Sheet Account Names Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Total 46,400 46,400 7,600 7,600 41,100 41,100 11,000 14,300 30,100 26,800 Total SMART TOUCH LEARNING Worksheet December 31, 2016 Unadjusted Trial Balance Income...
Using the Adjusted Trial Balance, complete the Income Statement, Statement of Owner's Equity, and Balance Sheet....
Using the Adjusted Trial Balance, complete the Income Statement, Statement of Owner's Equity, and Balance Sheet. Enter any decreases with a minus sign or parentheses SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash 19,200 Accounts Receivable 10,600 Office Supplies 200 Expenses: Prepaid Rent 12,800 Furniture 22,500 7.700 Accounts Payable Salaries Payable Interest Payable 2,500 600 300 Total Expenses Unearned Revenue 6,400 9,000 25,400 Net Income Notes Payable Bright, Capital Bright, Withdrawals 32,700 Service...
please answer completely :) act.pearsoncmg.com/activity/0/4/1 PART 4: Prepare the Unadjusted Trial Balance Prepare the Unadjusted Trial...
please answer completely :)
act.pearsoncmg.com/activity/0/4/1 PART 4: Prepare the Unadjusted Trial Balance Prepare the Unadjusted Trial Balance for Smart Touch Learning for December 31st. Check your spelling carefully and do not abbreviate. Enter the account names exactly as provided in the Chart of Accounts. Enter the accounts in the order of Assets, Liabilities, Equity, Revenues, and Expenses. ACCOUNT Smart Touch Learning Accounts Receivable 600 Unadjusted Trial Balance Cash 46,110 December 31, 2016 Common Stock 40.500 Balance Dividends 2.900 Account Title...
Build the unadjusted trial balance and adjustments columns from the given information and total the columns....
Build the unadjusted trial balance and adjustments columns from the given information and total the columns. Only input amounts for accounts with balances and do not enter zeros for blank cells. Accounts Payable 5.900 Accounts Receivable 19.600 SMART TOUCH LEARNING Worksheet December 31, 2016 Cash 27,900 Unadjusted Trial Balance Adjustments Common Stock 38,600 Account Names Debit Credit Debit Credit Dividends 5.400 Cash 27900 Furniture 4.400 Accounts Receivable 19600 Notes Payable 6.700 Office Supplies R800 Office Supplies 8.800 Prepaid Rent 12700...
Prepare a mulit-step income statement, balance sheet, and statement of owner's equity. I can't figure out the in...
Prepare a mulit-step income statement, balance sheet, and
statement of owner's equity. I can't figure out the income
statement but I believe I can get the other two!
Yoder's Cool Stuff Worksheet For the month ended 12/31/13 Balance Income Adjusted Sheet Trial Balance Adjustments Trial Balance Credit Debit Debit Credit Debit Credit Credit Credit Debit Debit 37 Account Name 37 37 sh Receivable a 2000 4000 Merchandise Inven 60 175 Supplies Prepaid Insurance 175 25 Equipment f 1000 A/Depr-Equipment 18...
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each...
Prepare the Statement of Retained Earnings from the Adjusted
Trial Balance and Income Statement. Within each section of the
statement, use the drop-down menus to enter the accounts in Chart
of Accounts order and select the account balances.
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, use the drop-down menus to enter the accounts in Chart of Accounts order and select the account balances. SMART TOUCH LEARNING SMART...
Assignment: 1) complete the accountants worksheet excel (pictured below) 2) on a separate sheet, INCOME STATEMENT...
Assignment:
1) complete the accountants worksheet excel (pictured below)
2) on a separate sheet, INCOME STATEMENT
3) on a separate sheet, RETAINED EARNINGS
4) on a separate sheet, BALANCE SHEET
5) on a separate sheet, ADJUSTING/CLOSING ENTRIES
6) POST CLOSING TRIAL BALANCE*
Income Statement Debit Credit R. E. Statement Debit Credit Balance Sheet Debit Credit Unadjusted Trial Bal. Debit Credit 37,000 18,600 31,900 80,000 120,000 36,200 14,200 GWS Incorporated Accountant's Worksheet For the Month Ended September 30, 2010 Adjustments Adjusted...
Assignment Material 161 Required 0 Prepare the 20x8 balance sheet and statement of profit and loss....
Assignment Material 161 Required 0 Prepare the 20x8 balance sheet and statement of profit and loss. Problem 4.4 Completing Worksheet * Adjusted Trial Statement of Account Balance Profit and Loss Balance Sheet Debit Credit Debit Credit Debit Credit Merchandise inventory ? Sales 64,100 Sales returns and allowances 1,200 Purchases 43,290 Purchase returns and allowances 370 Purchase discounts 410 Freight in 3,280 Sales discounts. 560 Income tax expense. 4,500 Income tax payable 900 The beginning and ending merchandise inventories were 33,900...
Bolton Consulting Work Sheet For the year ended December 31 Balance Sheet and Statement of Stockholders...
Bolton Consulting Work Sheet For the year ended December 31 Balance Sheet and Statement of Stockholders Income Statement Equity Adjusted Unadjusted Trial Trial Balance Adjustments Balance Account Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Cash 31,000 Accounts Receivable 8,000 Supplies 12,500 Automobiles 175,000 Accum. Depr. - Autos 52,000 17,500 Accounts payable Unearned 26,500 fees Salaries payable Capital Stock 58.000 Dividends 42,500 241,750 Fees earned Salary 91,000 Module 8: Portfolio Project 262020 expense Rent expense 35,750 Advertising expense...
Trial Balance Adjustments Adj. Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit...
Trial Balance Adjustments Adj. Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Larkin, Drawing 600 600 600 Cash 3,000 2000 FORMULA FORMULA Salary Exp. 500 120 FORMULA FORMULA Rent Exp. 400 100 FORMULA FORMULA Supplies Exp. 0 200 FORMULA FORMULA Dep. Exp. 0 200 FORMULA FORMULA Insurance Exp. 0 150 FORMULA FORMULA Misc. Exp. 300 FORMULA FORMULA Total 10,300 10,300 2,770 2,770 FORMULA FORMULA FORMULA...
For each scenario, calculate the net income/loss, identify if it is net income or loss, and finalize the totals for the Income Statement and Balance Sheet columns. SMART TOUCH LEARNING Worksheet December 31, 2016 Unadjusted Trial Balance Income Statement Adjustments Adiusted Trial Balance Balance Sheet Account Names Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Total 46,400 46,400 7,600 7,600 41,100 41,100 11,000 14,300 30,100 26,800 Total SMART TOUCH LEARNING Worksheet December 31, 2016 Unadjusted Trial Balance Income...
Using the Adjusted Trial Balance, complete the Income Statement, Statement of Owner's Equity, and Balance Sheet. Enter any decreases with a minus sign or parentheses SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash 19,200 Accounts Receivable 10,600 Office Supplies 200 Expenses: Prepaid Rent 12,800 Furniture 22,500 7.700 Accounts Payable Salaries Payable Interest Payable 2,500 600 300 Total Expenses Unearned Revenue 6,400 9,000 25,400 Net Income Notes Payable Bright, Capital Bright, Withdrawals 32,700 Service...
please answer completely :)
act.pearsoncmg.com/activity/0/4/1 PART 4: Prepare the Unadjusted Trial Balance Prepare the Unadjusted Trial Balance for Smart Touch Learning for December 31st. Check your spelling carefully and do not abbreviate. Enter the account names exactly as provided in the Chart of Accounts. Enter the accounts in the order of Assets, Liabilities, Equity, Revenues, and Expenses. ACCOUNT Smart Touch Learning Accounts Receivable 600 Unadjusted Trial Balance Cash 46,110 December 31, 2016 Common Stock 40.500 Balance Dividends 2.900 Account Title...
Build the unadjusted trial balance and adjustments columns from the given information and total the columns. Only input amounts for accounts with balances and do not enter zeros for blank cells. Accounts Payable 5.900 Accounts Receivable 19.600 SMART TOUCH LEARNING Worksheet December 31, 2016 Cash 27,900 Unadjusted Trial Balance Adjustments Common Stock 38,600 Account Names Debit Credit Debit Credit Dividends 5.400 Cash 27900 Furniture 4.400 Accounts Receivable 19600 Notes Payable 6.700 Office Supplies R800 Office Supplies 8.800 Prepaid Rent 12700...
Prepare a mulit-step income statement, balance sheet, and
statement of owner's equity. I can't figure out the income
statement but I believe I can get the other two!
Yoder's Cool Stuff Worksheet For the month ended 12/31/13 Balance Income Adjusted Sheet Trial Balance Adjustments Trial Balance Credit Debit Debit Credit Debit Credit Credit Credit Debit Debit 37 Account Name 37 37 sh Receivable a 2000 4000 Merchandise Inven 60 175 Supplies Prepaid Insurance 175 25 Equipment f 1000 A/Depr-Equipment 18...
Prepare the Statement of Retained Earnings from the Adjusted
Trial Balance and Income Statement. Within each section of the
statement, use the drop-down menus to enter the accounts in Chart
of Accounts order and select the account balances.
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, use the drop-down menus to enter the accounts in Chart of Accounts order and select the account balances. SMART TOUCH LEARNING SMART...
Assignment:
1) complete the accountants worksheet excel (pictured below)
2) on a separate sheet, INCOME STATEMENT
3) on a separate sheet, RETAINED EARNINGS
4) on a separate sheet, BALANCE SHEET
5) on a separate sheet, ADJUSTING/CLOSING ENTRIES
6) POST CLOSING TRIAL BALANCE*
Income Statement Debit Credit R. E. Statement Debit Credit Balance Sheet Debit Credit Unadjusted Trial Bal. Debit Credit 37,000 18,600 31,900 80,000 120,000 36,200 14,200 GWS Incorporated Accountant's Worksheet For the Month Ended September 30, 2010 Adjustments Adjusted...
Assignment Material 161 Required 0 Prepare the 20x8 balance sheet and statement of profit and loss. Problem 4.4 Completing Worksheet * Adjusted Trial Statement of Account Balance Profit and Loss Balance Sheet Debit Credit Debit Credit Debit Credit Merchandise inventory ? Sales 64,100 Sales returns and allowances 1,200 Purchases 43,290 Purchase returns and allowances 370 Purchase discounts 410 Freight in 3,280 Sales discounts. 560 Income tax expense. 4,500 Income tax payable 900 The beginning and ending merchandise inventories were 33,900...
Bolton Consulting Work Sheet For the year ended December 31 Balance Sheet and Statement of Stockholders Income Statement Equity Adjusted Unadjusted Trial Trial Balance Adjustments Balance Account Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Cash 31,000 Accounts Receivable 8,000 Supplies 12,500 Automobiles 175,000 Accum. Depr. - Autos 52,000 17,500 Accounts payable Unearned 26,500 fees Salaries payable Capital Stock 58.000 Dividends 42,500 241,750 Fees earned Salary 91,000 Module 8: Portfolio Project 262020 expense Rent expense 35,750 Advertising expense...
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