Homework Answers
Answer
--Statement of Owner's equity
| B Walter, Capital (Beginning) | $72,000 |
| Add: Net Income ($207000 - 124000) | $83,000 |
| Less: Withdrawals/Drawings | $39,800 |
| B Walter, Capital (ending) | $115,200 |
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QS 4-3 Interpreting a work sheet LO P1 The following selected information is taken from the...
Exercise 4-2 Extending accounts in a work sheet LO P1 The Adjusted Trial Balance for Planta...
Exercise 4-2 Extending accounts in a work sheet LO P1 The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement cr. Dr. Cr. $ $ Dr. 6,200 27,094 42,000 $ 16,884 Balance Sheet and Statement of Owner's Equity Dr. Cr. 6,200 27,094 42,000 $ 16,884 30,000...
part1 part 2 part 3 Exercise 4-7 Preparing a work sheet and recording closing entries LO...
part1
part 2
part 3
Exercise 4-7 Preparing a work sheet and recording closing entries LO P1, P2 The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31 a. Unrecorded depreciation on the trucks at the end of the year is $40,000. b. The total amount of accrued interest expense at year-end is $6,000. C. The cost of unused office supplies still available at year-end is $2,000. 1. Use the above information...
Using the following additional information, enter the adjustments into the work sheet with the help of...
Using the following additional information, enter the
adjustments into the work sheet with the help of unadjusted trial
balance given below: (10 marks)
Unadjusted Trial Balance
No.
Account
Debit
Credit
101
Cash
9,100
106
Accounts receivable
18,700
111
Notes receivable, due February 2015
16,000
128
Prepaid insurance
5,100
161
Furniture
6,750
201
Accounts payable
6,925
230
Unearned tour revenue
12,430
301
Jan Rider, capital
60,975
302
Jan Rider, withdrawals
-0-
403
Tour revenue
16,700
623
Wages expense
41,380
Totals
97,030...
Please give me an income statement, statement of owner's equity, and balance sheet. (No need explanation,...
Please give me an income statement,
statement of owner's equity, and balance sheet. (No need
explanation, just want to check my answer)
J. Tren Worksheet Month Ended May 31, 201X Trial Balance | Adjustments Adjusted Trial Balance | Income Statement Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Balance Sheet Dr. Cr. Account Titles Cash Accounts Receivable Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation, Store Equipment Accounts Payable J. Tren, Capital J. Tren, Withdrawals Revenue from Clients Rent Expense...
2. Use the following adjustment Information to complete the Adjustments columns of the work sheet. a....
2. Use the following adjustment Information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment, $3 b. Accrued salarles, $6 c. The $12 of unearned revenue has been earned d. Supplies available at December 31, $15 e. Explred Insurance, $15 3. Extend the balances in the Adjusted Trial Balance columns of the work sheet to the proper financial statement columns. Compute totals for those columns Including net Income. WESTCOTT COMPANY Partial Work Sheet For the year...
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, P4, P5, P6 [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. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance $ 92,680 12.000 17,200 6,940 88,000 $ 24,000 9.100 Cash Accounts receivable...
2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a....
2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment. $19 b. Accrued salaries, $22 C. The $28 of unearned revenue has been earned d. Supplies available at December 31, $95 e. Expired insurance, $31 3. Extend the balances in the Adjusted Trial Balance columns of the work sheet to the proper financial statement columns. Compute totals for those columns including net income. WESTCOTT COMPANY Partial Work Sheet For the year...
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, P4, P5, P6 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. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance $ 92,680 12.000 17.200 6,90 88,000 $ 24,000 9.100 Mccounts...
The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account...
The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Dr. Cr. Cr. Dr. Cr. Dr. 6,700 29,279 40,500 $ 16,281 30,000 15,611 No. Account Title 101 Cash 106 Accounts receivable 153 Trucks 154 Accumulated depreciation-Trucks 183 Land 201...
Check my 1 The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by...
Check my 1 The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. 10 points PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Dr. Cr. Cr. Dr. Cr. Book $ Dr. 7000 27.200 42.000 References $ 17,500 32.000 No. Account Title 101 Cash 106 Accounts receivable 153...
Exercise 4-2 Extending accounts in a work sheet LO P1 The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement cr. Dr. Cr. $ $ Dr. 6,200 27,094 42,000 $ 16,884 Balance Sheet and Statement of Owner's Equity Dr. Cr. 6,200 27,094 42,000 $ 16,884 30,000...
part1
part 2
part 3
Exercise 4-7 Preparing a work sheet and recording closing entries LO P1, P2 The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31 a. Unrecorded depreciation on the trucks at the end of the year is $40,000. b. The total amount of accrued interest expense at year-end is $6,000. C. The cost of unused office supplies still available at year-end is $2,000. 1. Use the above information...
Using the following additional information, enter the
adjustments into the work sheet with the help of unadjusted trial
balance given below: (10 marks)
Unadjusted Trial Balance
No.
Account
Debit
Credit
101
Cash
9,100
106
Accounts receivable
18,700
111
Notes receivable, due February 2015
16,000
128
Prepaid insurance
5,100
161
Furniture
6,750
201
Accounts payable
6,925
230
Unearned tour revenue
12,430
301
Jan Rider, capital
60,975
302
Jan Rider, withdrawals
-0-
403
Tour revenue
16,700
623
Wages expense
41,380
Totals
97,030...
Please give me an income statement,
statement of owner's equity, and balance sheet. (No need
explanation, just want to check my answer)
J. Tren Worksheet Month Ended May 31, 201X Trial Balance | Adjustments Adjusted Trial Balance | Income Statement Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Balance Sheet Dr. Cr. Account Titles Cash Accounts Receivable Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation, Store Equipment Accounts Payable J. Tren, Capital J. Tren, Withdrawals Revenue from Clients Rent Expense...
2. Use the following adjustment Information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment, $3 b. Accrued salarles, $6 c. The $12 of unearned revenue has been earned d. Supplies available at December 31, $15 e. Explred Insurance, $15 3. Extend the balances in the Adjusted Trial Balance columns of the work sheet to the proper financial statement columns. Compute totals for those columns Including net Income. WESTCOTT COMPANY Partial Work Sheet For the year...
Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3, P4, P5, P6 [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. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance $ 92,680 12.000 17,200 6,940 88,000 $ 24,000 9.100 Cash Accounts receivable...
2. Use the following adjustment information to complete the Adjustments columns of the work sheet. a. Depreciation on equipment. $19 b. Accrued salaries, $22 C. The $28 of unearned revenue has been earned d. Supplies available at December 31, $95 e. Expired insurance, $31 3. Extend the balances in the Adjusted Trial Balance columns of the work sheet to the proper financial statement columns. Compute totals for those columns including net income. WESTCOTT COMPANY Partial Work Sheet For the year...
Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO P1, P2, P3, P4, P5, P6 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. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance $ 92,680 12.000 17.200 6,90 88,000 $ 24,000 9.100 Mccounts...
The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Dr. Cr. Cr. Dr. Cr. Dr. 6,700 29,279 40,500 $ 16,281 30,000 15,611 No. Account Title 101 Cash 106 Accounts receivable 153 Trucks 154 Accumulated depreciation-Trucks 183 Land 201...
Check my 1 The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. 10 points PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Dr. Cr. Cr. Dr. Cr. Book $ Dr. 7000 27.200 42.000 References $ 17,500 32.000 No. Account Title 101 Cash 106 Accounts receivable 153...
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