Above is the question that needs to be answered, I will post useful information below to assist with the problem.
ADJ: Adjustments that need to be made
T Accounts WITH ADJ included
ADJ entires made
Summary of everything done
Trial Balance after ADJ entries as well
(All needed to answer the first question above)
Income statement
Landscaping service revenue | 344,600 | |
Expenses: | ||
Supplies expense | 22,350 | |
Wages expenses | 218,000 | |
Rent expenses | 14,600 | |
Utilities exepnses | 7,000 | |
Total exepnses | 261,950 | |
Net income | 82,650 | |
Statement of Retained Earnings
Retained earnings openings balance | 57,740 |
Add: Net Income | 82,650 |
140,390 | |
Less: Dividends | 2,600 |
Retained earnings closing balance | 137,790 |
Balance sheet
Assets | Amount | equity and liabilities | ||
Current assets | Current liabilities | |||
Cash | 45,200 | Accounts Payable | 1,350 | |
Account Recievable | 70,000 | Deferred revenue | 2,400 | |
Supplies | 6,740 | Notes payable | 24,000 | |
Prepaid advertising | 1,800 | Total liabilities | 27,750 | |
Total current assets | 123,740 | stockholders equity | ||
Non current assets | Common stock | 38,000 | ||
Equipment | 94,000 | Retained earnings | 137,790 | |
Accumulated depreciation | 14,200 | 79,800 | Total stockholders equity | 175,790 |
Total assets | 203,540 | Total liabilities and stockholders equity | 203,540 |
Above is the question that needs to be answered, I will post useful information below to...
The above question needs to be answered: Below is a screenshot of the Account Balances that were used for the previous assignment. If anything else is needed please comment below. Thank you Review Material Homework 2 1. Prepare all necessary adjusting entries for CGS at December 31, 2019. Assume that the company has made no adjusting entries throughout the year. Post the entries to T-accounts. For your adjusting entries, the following additional information is relevant: 1. As of December 31,...
Consider the recorded transactions below. Credit Debit 9,000 1. Accounts Receivable Service Revenue 9,000 1,500 2. Supplies Accounts Payable 1,500 8,600 3. Cash Accounts Receivable 8,600 4. Advertising Expense Cash 1,000 1,000 5. Accounts Payable Cash 2,100 2,100 6. Cash Deferred Revenue 1,100 1,100 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $1,800; Accounts Receivable, $2,600; Supplies, $240; Accounts Payable, $1,900; Deferred Revenue,...
Question: Prepare a post closing trial balance with the information provided below. There is the t accounts, trial balance and the closing journal. 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...
Post the transactions to the T-accounts. Use the transaction dates as posting references. Use a "Bal" posting reference to show the ending balance of each account. For any accounts with a zero balance, select the "Bal" posting reference and enter a "0" on the normal side of the account. Review the journal entries you prepared above Cash Accounts Payable Service Revenue Salaries Payable Accounts Receivable Unearned Revenue Salaries Expense Office Supplies Common Stock Depreciation Expense Truck Prepaid Insurance Retained Earnings...
Post each transaction to T-accounts and compute the end balance of each account. Consider the recorded transactions below. Debit 7,600 Credit 1. Accounts Receivable Service Revenue 7,600 1,900 2. Supplies Accounts Payable 1,900 9,400 3. Cash Accounts Receivable 9,400 4. Advertising Expense Cash 1,100 1,100 5. Accounts Payable Cash 2,900 2,900 1,200 6. Cash Deferred Revenue 1,200 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions...
please fill out the post closing trail balance section at the far right better picture Trial Balance Account Titles Adjustments DR CR Adj. Trial Balance Income Statement Post Closing TB DR OR DR 1.500 7.700 6,200 10,100 1,800 4,800 9,000 Balance Sheet DR CR 7,700 11,100 400 4,600 9,000 1.400 4,500 9,000 Cash Accounts Receivable Supplies Prepaid Insurance Vehicle Accum. Depr - Vehicle Accounts Payable Salaries and Wages Payable Owner's Capital Owner's Drawing Service Revenue 2 6,000 0,000 18,000 19.500...
QUESTION: With the above information I need help with 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...
Consider the recorded transactions below. Credit 1. Accounts Receivable Service Revenue Debit 9,300 9,300 2. Supplies Accounts Payable 1,350 1,350 3. Cash Accounts Receivable 8,300 0 8,300 4. Advertising Expense Cash 1,000 1,000 5. Accounts Payable Cash 1,800 1,800 6. Cash Deferred Revenue 1,100 1,100 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $1,500; Accounts Receivable, $2,300; Supplies, $210; Accounts Payable, $1,600; Deferred...
#6,7,8 Comple P4-31A Completing the accounting cycle from adiusting entries to post-closing trial balance with an optional worksheet The unadjusted trial balance of Williamson Anvils at December 31, 2016, and the data for the adjustments follow: WILLIAMSON ANVILS Unadjusted Trial Balance December 31, 2016 Balance Debit Credit $ 16,370 16,500 2.530 1,800 29,000 5 10,000 6,600 Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Williamson, Capital Williamson, Withdrawals Service...
Based on the above information: Cut the Green Stuff (CGS) is a landscape service company that provides its customers with lawn and garden maintenance. For a new customer, CGS requires a prepayment of the first 3 months of service fees. After three months, customers are billed as services are provided (billing occurs on the 15th and 30th of each month) with invoices due in 30 days. At the end of November 2019, CGS has the following balances in its accounts:...