Question

QUESTION: Complete a final balance sheet. With information from the following information below. There is the t-account following trial balance information for the final balance sheet.

Thank you

8:08 Done COMPREHNSIVE PROBLEM PART... The Part 1 Part 2 - T-accounts 3. Adiusted Trial Balance Cash SI 067.000 $206,700 Accounts Receivable S10.000 Prepaid Insurance $24,000 Inventory $10,000 ABC, Inc. Adjusted Trial Balance As of June 30 20XX S25.6081 $320,100 $24,000 S10,000 $22.000 $20,000 1.500 $2.000 Building $320,100 Equipment S106,700 Debit 914,692 10,000 22.000 R500 320.100 106.700 25. MIR S500 SI.RO 54.000 $120,100 S106,700 889.1 Accum Depr-Buildine Accum Depr-Equip S8891 8891 116,7 5914,6921 1.72 $889 $889 $8,500 Cash Accounts Receivable Land Prepaid Insurance $25,608 Inventory Building Equipment $25,608 Land Accumulated Depreciation - Building Accounts Payable Accumulated Depreciation - Equipment $106,700 Accounts Payable $10,000 Advanice Deposits Accrued Interest $116,700 Accrued Wages Note Payable Accrued Wages Common Stock $400 Dividends Service Revenue Consulting Revenue $400 Advertising Expense Utilities Expense Consulting Revenue R&M Expense $10.000 Wages Expense Interest Expense Insurance Expense S10,000 Cost of Goods Sold Depreciation Expense Wages Expense Total $4,000 $400 206,7 1,067,0 Advance Deposits Accrued Interest Note Payable $206,700 $500 $1,7231 500 20,0 10.0 S500 $206,700 S1.7231 Common Stock S1.007.000 Dividends 5500 Service Revenue $20,000 1,500 2.000 1.800 4.400 1.723 2.000 1.500 1.778 1.424.00 R331 $1,067,000 5500 $20,000 1 494 Advertising Expense $1,500 Utilities Expense $2,000 R&M Expense $1,800 $1,500 S2 (100) $1.00 $4,400 Interest Expense $1.723 Depreciation Expense S889 S889 Insurance Expense $2,000 COGS S1.500 $1,723 $1.778 $2,000 $1,500

Answer 1

ABC. Ine Income Statement Four the Perid ending 30, 208X Particulars Scervicce Revenue Consulting Revenue $ 20,000 $ 10.000 $ 30,000 $ 1,500 - Cost of goods sold GROSS Margin $ 28.500 -operating expenses Advertising expenses utilities exprensies R & M expenses $ 1,500 $ 2,000 $ 1,800 8 4,400 $ 2,000 $ 1,778 Wages expenses. Ingwrance expcensies Depreciation operating expenses income - $ 13,478 $ 15,022 Non Operating sex buensies Interest expensies $ 1723 $ 13,299 Net income

ABC. Inc Balance Sheet AS ON June 30, 20XX Assets & Share holders Liabilities Eauity 116, 700 Current arsiers: Liabilities Cash 914,692 Accounts payable Account Recceivable 10.000 Advance deposits Porepaid Insurance 22,000 Accruced interest Inventary 8.500 Acerved wages Note payable Toral current arsets a 55,192 Total liabilities 500 1,723 400 206, 700 326,023 Share holder's Eauity Common stock Neet income 1,067, 000 13,299 1,080,299 non current arsets Building 320,100 Accumulated 889 depreciation - Building 319,211 Equipment 106, 700 Accumulated 889 debere eiation - Equipment 1 105,811 Land 25,608 Total non current 450, 630 assets 500 - Dividend net Share holders eauity (1,079,799 Total assets. 11405.822 total liabilities & Share holders! Eauity 17.405,822