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Step Six Data (Click on the link to return to the prompt.) [Note: This is a...
Prepare the income statement from the trial balance below. Adjusting entries Debit Credit Peyton Approved Trial...
Prepare the income statement from the trial balance below.
Adjusting entries Debit Credit Peyton Approved Trial Balance 2018 Unadjusted trial balance Debit Credit 32,236.75 18,500.00 175.65 1,500.00 2,400.00 6,000.00 17,400.00 400.00 250.00 550.00 600.00 7,700.00 10,000.00 150.00 5,000.00 480.00 16,000.00 Account Cash Baking Supplies Merchandise Inventory (FIFO) Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies Accounts Receivable Notes Payable Interest Payable Accounts Payable Wages Payable Common Stock Dividends Bakery Sales Merchandise Sales Baking Supplies Expense Rent Expense Interest...
Complete the “Closing Entries” tab in your workbook by closing all temporary income statement amounts to...
Complete the “Closing Entries” tab in your workbook by closing
all temporary income statement amounts to create closing
entries.
Prepare the “Post Closing Trial Balance” tab for the next
accounting period.
Adjusting entries Debit Credit Peyton Approved Trial Balance 2018 Unadjusted trial balance Debit Credit 32,236.75 18,500.00 175.65 1,500.00 2,400.00 6,000.00 17,400.00 400.00 250.00 550.00 600.00 7,700.00 10,000.00 150.00 5,000.00 480.00 16,000.00 Account Cash Baking Supplies Merchandise Inventory (FIFO) Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies...
Create financial statements by properly employing prescribed methods in accordance with generally accepted accounting principles: A....
Create financial statements by properly employing prescribed
methods in accordance with generally accepted accounting
principles: A. Step Eight: Prepare the financial statements. Note
that you must use your adjusted trial balance to prepare the income
statement, statement of owner’s equity, and balance sheet. You must
complete these statements in this order, as there are
interdependencies among them.
Adjusting entries Debit Credit Peyton Approved Trial Balance 2018 Unadjusted trial balance Debit Credit 32,236.75 18,500.00 175.65 1,500.00 2,400.00 6,000.00 17,400.00 400.00 250.00...
Create financial statements by properly employing prescribed methods in accordance with generally accepted accounting principles: A....
Create financial statements by properly employing prescribed
methods in accordance with generally accepted accounting
principles:
A. Step Eight: Prepare the financial statements. Note that you must
use your adjusted trial balance to prepare the income statement,
statement of
owner’s equity, and balance sheet. You must complete these
statements in this order, as there are interdependencies among
them. [ACC-201-
03]
B. Step Nine: Complete the “Closing Entries” tab in your workbook
by closing all temporary income statement amounts to create closing...
Overview: In this milestone, you will move through the next phase of the accounting cycle by...
Overview: In this milestone, you will move through the next
phase of the accounting cycle by creating the trial balance,
adjusting entries, and adjusted trial balance. Completing the
adjusting entries implements the matching, timing, and periodicity
of the generally accepted accounting principles. Omission of this
step will show a higher net income than there actually is, which
could cause users of the financial statements to make an incorrect
decision and suffer financially. Prompt: You will find the provided
data for...
I NEED HELP WITH STEPS 5,6,7 and the T-Accounts ! Incorporate the feedback that you received...
I NEED HELP WITH STEPS 5,6,7 and the T-Accounts ! Incorporate the feedback that you received from your Milestone One submission on Steps 1–4. A. Step One: Complete the “July Journal Entries” tab in your workbook using the Step One data in the appendix. B. Step Two: Complete the “August Journal Entries” tab in your workbook using the Step Two data in the appendix. C. Step Three: Complete the “September Journal Entries” tab in your workbook using the Step Three...
I need the closing entries filled out based on the adjusted trial balance provided please. PDF...
I need the closing entries filled out based on the adjusted trial
balance provided please.
PDF worksheet.pdf X + V - a x 6 a worksheet.pdf E 0 0 i oft lo file:///C:/Users/Meredith/Desktop/worksheet.pdf + - Fit to page OD Page view | A' Read aloud L Add notes o e l so Adjusting entries Debit Credit 137,400.00 2017 Unadjusted trial balance Debit Credit 64,713.72 165,250.00 25,750.00 7,500.00 2,400.00 17,000.00 3,285.72 10.000.00 2,000.00 2,300.00 1,600.00 30,401.00 10,000.00 Adjusted trial balance Debit...
4. Below is the Adjusted Trial Balance as of December 31, 2019. Prepare the four closing...
4. Below is the Adjusted Trial Balance as of December 31, 2019. Prepare the four closing entries for the year end. Account Title Debit Credit Cash 20,000.00 Office Supplies 5,000.00 Prepaid Insurance 4,000.00 Equipment 30,000.00 Accumulated Depreciation - Equip 17,000.00 Accounts Payable 16,000.00 Common Stock 10,000.00 Retained Earnings 2,500.00 Dividends 5,000.00 Consulting Services 90,000.00 Wages Expense 55,000.00 Rent Expense 12,000.00 Utilities Expense 3,000.00 Taxes Expense 1,500.00 Totals $ 135,500.00 $ 135,500.00 Account DR CR Date Dec. 31, 2019
I need I need the closing entries and income statement completed please based on the adjusted...
I need I need the closing entries and income statement completed
please based on the adjusted trial balance.
6 5 - o x E Income statement.pdf x + v = 0 a 0 file:///C:/Users/Meredith/Desktop/Income%20statement.pdf of lo - + Fit to width Page view | A Read aloud h Add notes o E se Peyton Approved Income Statement For Year Ending 12/31/2017 Bakery Sales Merchandise Sales Total Revenues Merchandise Cost of Goods Sold (FIFO) Baking Cost of Goods Sold Gross Profit...
How do I turn this trial balance into an income statement and the balance sheet ACCOUNT...
How do I turn this trial balance into an income statement and the balance sheet ACCOUNT ACCOUNT TYPE DEBIT CREDIT BALANCE Checking Bank $ 35,600.00 $ 34,762.00 $ 838.00 Equipment Fixed Asset $ 15,000.00 $ - $ 15,000.00 A/D - Equipment Fixed Asset $ - $ 150.00 $ (150.00) Land Fixed Asset $ 25,000.00 $ - $ 25,000.00 Building Fixed Asset $ 175,000.00 $ - $ 175,000.00 A/D - Building Fixed Asset $ - $ 850.00 $ (850.00) Small Business...
Prepare the income statement from the trial balance below.
Adjusting entries Debit Credit Peyton Approved Trial Balance 2018 Unadjusted trial balance Debit Credit 32,236.75 18,500.00 175.65 1,500.00 2,400.00 6,000.00 17,400.00 400.00 250.00 550.00 600.00 7,700.00 10,000.00 150.00 5,000.00 480.00 16,000.00 Account Cash Baking Supplies Merchandise Inventory (FIFO) Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies Accounts Receivable Notes Payable Interest Payable Accounts Payable Wages Payable Common Stock Dividends Bakery Sales Merchandise Sales Baking Supplies Expense Rent Expense Interest...
Complete the “Closing Entries” tab in your workbook by closing
all temporary income statement amounts to create closing
entries.
Prepare the “Post Closing Trial Balance” tab for the next
accounting period.
Adjusting entries Debit Credit Peyton Approved Trial Balance 2018 Unadjusted trial balance Debit Credit 32,236.75 18,500.00 175.65 1,500.00 2,400.00 6,000.00 17,400.00 400.00 250.00 550.00 600.00 7,700.00 10,000.00 150.00 5,000.00 480.00 16,000.00 Account Cash Baking Supplies Merchandise Inventory (FIFO) Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies...
Create financial statements by properly employing prescribed
methods in accordance with generally accepted accounting
principles: A. Step Eight: Prepare the financial statements. Note
that you must use your adjusted trial balance to prepare the income
statement, statement of owner’s equity, and balance sheet. You must
complete these statements in this order, as there are
interdependencies among them.
Adjusting entries Debit Credit Peyton Approved Trial Balance 2018 Unadjusted trial balance Debit Credit 32,236.75 18,500.00 175.65 1,500.00 2,400.00 6,000.00 17,400.00 400.00 250.00...
Create financial statements by properly employing prescribed
methods in accordance with generally accepted accounting
principles:
A. Step Eight: Prepare the financial statements. Note that you must
use your adjusted trial balance to prepare the income statement,
statement of
owner’s equity, and balance sheet. You must complete these
statements in this order, as there are interdependencies among
them. [ACC-201-
03]
B. Step Nine: Complete the “Closing Entries” tab in your workbook
by closing all temporary income statement amounts to create closing...
Overview: In this milestone, you will move through the next
phase of the accounting cycle by creating the trial balance,
adjusting entries, and adjusted trial balance. Completing the
adjusting entries implements the matching, timing, and periodicity
of the generally accepted accounting principles. Omission of this
step will show a higher net income than there actually is, which
could cause users of the financial statements to make an incorrect
decision and suffer financially. Prompt: You will find the provided
data for...
I need the closing entries filled out based on the adjusted trial
balance provided please.
PDF worksheet.pdf X + V - a x 6 a worksheet.pdf E 0 0 i oft lo file:///C:/Users/Meredith/Desktop/worksheet.pdf + - Fit to page OD Page view | A' Read aloud L Add notes o e l so Adjusting entries Debit Credit 137,400.00 2017 Unadjusted trial balance Debit Credit 64,713.72 165,250.00 25,750.00 7,500.00 2,400.00 17,000.00 3,285.72 10.000.00 2,000.00 2,300.00 1,600.00 30,401.00 10,000.00 Adjusted trial balance Debit...
4. Below is the Adjusted Trial Balance as of December 31, 2019. Prepare the four closing entries for the year end. Account Title Debit Credit Cash 20,000.00 Office Supplies 5,000.00 Prepaid Insurance 4,000.00 Equipment 30,000.00 Accumulated Depreciation - Equip 17,000.00 Accounts Payable 16,000.00 Common Stock 10,000.00 Retained Earnings 2,500.00 Dividends 5,000.00 Consulting Services 90,000.00 Wages Expense 55,000.00 Rent Expense 12,000.00 Utilities Expense 3,000.00 Taxes Expense 1,500.00 Totals $ 135,500.00 $ 135,500.00 Account DR CR Date Dec. 31, 2019
I need I need the closing entries and income statement completed
please based on the adjusted trial balance.
6 5 - o x E Income statement.pdf x + v = 0 a 0 file:///C:/Users/Meredith/Desktop/Income%20statement.pdf of lo - + Fit to width Page view | A Read aloud h Add notes o E se Peyton Approved Income Statement For Year Ending 12/31/2017 Bakery Sales Merchandise Sales Total Revenues Merchandise Cost of Goods Sold (FIFO) Baking Cost of Goods Sold Gross Profit...
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