I need help with this extensive accounting problem. My numbers are not adding up so I...
Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file "Accounting Cycle Excel Template.xlsx". Use the following accounts as appropriate: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation, Accounts Payable, Wages Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Depreciation Expense, Wages Expense, Supplies Expense, Rent Expense, and Insurance Expense.1-DecBegan business by depositing $8500 in a bank account in the name of the company in exchange for 850 shares of $10 per...
My Balance Sheet is Unbalanced.. I have no idea where I went wrong :( Can you provde income statement to show ? The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Debits $ 26,680 17,400 16,000 168,000 Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 8,700 7,800 163.ee 48,500 $228,000 $228.000 The following is a summary of the transactions for the year: 1. January 9...
*Specifically looking for help with t-accounts and question 4, thank you!!* As a recently hired accountant for a small business, SMC, Inc., you are provided with last year’s balance sheet, income statement, and post-closing trial balance to familiarize yourself with the business. You are also given the following information that summarizes the business activity for the current year,2018 a. Issued 10,000 additional shares of common stock for $25,000 cash on January 1st. b. Borrowed $10,000 on March 1, 2018, from...
Just need help with the organization and possibly some of the numbers on the balance sheet Required Information (The following information applies to the questions displayed below.] Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows the amounts are rounded to thousands of dollars to simplify): Debit Credit Account Titles Cash Accounts Receivable Supplies...
I need help with the balance sheet part The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Debits $ 25,400 16,200 13,600 156,000 $ 7,500 6,600 151,000 46,100 $211,200 Totals $211,200 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $142,100, and on account, $56,200. 2. February 12...
prepare balance sheet with above info (check if my numbers are correct thankyou) below I have opened the drop downs to give you all the options At the beginning of 2018, Artichoke Academy reported a balance in common stock of $152,000 and a balance in retained earnings of $52,000. During the year, the company issued additional shares of stock for $42,000, earned net income of $32,000, and paid dividends of $10,200. In addition, the company reported balances for the following...
a) Prepare Closing entries b) Post adjusting and closing entries (just need help with owner's capital & Income Summary) c) Prepare a post-closing trial balance d) Determine whether the subsidiary ledgers agree with the control accounts in the general ledger Prepare a trial balance at January 31, 2020, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information. 1. Office supplies at January 31 total $900. 2. Insurance coverage expires on October 31, 2020....
need help with the income statement amd balance sheet MC Lumiy Dolce Values from the General Ledger tab flows through to the Trial Balance below. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Post-closing Zips Storage Trial Balance December 31, 2021 Account Title Debit Credit is 111,800 Cash Accounts Receivable Supplies Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Total 20,100 3,700 5,800 156,000 6,100 7,700 186,000 97,600 297,400 297.400...
Ive done all the previous statements. I need help on how to do the post-closing trial balance for this question. I've already done the previous statements. Scenario: Moonlight Bay Inn is incorporated on January 2, 2017, by its three owners, each of whom contributes $20,000 in cash in exchange for shares of stock in the business. In addition to the sale of stock, the following transactions are entered into during the month of January: Requirement #10: Prepare a post-closing trial...
Please answer question E only. i attach prior work for reference. Thank you so much Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Ayayai Company are as follows. . 130 157 Ayayai Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account No. Account Titles Dr. Cr. 101 Cash 5,000 112 Accounts Receivable 10,500 126 Supplies 1,200 Prepaid Insurance 1,800 Equipment 26,500 158 Accumulated Depreciation-Equipment 5,000 200 Notes Payable 12,000...