Debit Company Adjusted Trial Balance December 31, 20X7 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid...
Create a balance sheet I TUDIUM 1. The adjusted trial balance of Debit Company is shown below: Debit Company Adjusted Trial Balance December 31, 20X7 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock Retained earnings- Dividends Service revenue Salary expense 40,000 Rent expense 10,000 Supplies expense Depreciation expense 5,000 Utilities expense 1,200 $4,000 2,000 2,000 14,000 10,000...
Create an Income Statement I TUDIUM 1. The adjusted trial balance of Debit Company is shown below: Debit Company Adjusted Trial Balance December 31, 20X7 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock Retained earnings- Dividends Service revenue Salary expense 40,000 Rent expense 10,000 Supplies expense Depreciation expense 5,000 Utilities expense 1,200 $4,000 2,000 2,000 14,000 10,000...
The adjusted trial balance of Debit Company is shown below: Debit Company Adjusted Trial Balance December 31, 2012 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable $4,000 Salary payable 2,000 Unearned revenue (2 month advance) 2,000 Note payable — long term 14,000 Common stock 10,000 Retained earnings 14,700 Dividends 4,000 Service revenue 75,000 Salary expense 40,000 Rent expense 10,000 Supplies expense 1,500 Depreciation expense 5,000 Utilities expense 1,200 ...
Journalize the closing entries at the end of the year. I TUDIUM 1. The adjusted trial balance of Debit Company is shown below: Debit Company Adjusted Trial Balance December 31, 20X7 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock Retained earnings- Dividends Service revenue Salary expense 40,000 Rent expense 10,000 Supplies expense Depreciation expense 5,000 Utilities expense...
Prepare Debit Company's income statement and statement of retained earnings for the year ended December 31, 20X7 Income Statement Revenue Expenses Total Expenses Net Income Statement of Retained Earnings Beginning Retained Earnings Net Income Less: Dividends Ending Retained Earnings Debit Company Adjusted Trial Balance December 31, 20X7 $4,000 2,000 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock...
Problem I: The adjusted trial balance of Debit Company is shown below: Debit Company Adjusted Trial Balance December 31, 2020 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable $4,000 Salary payable 2,000 Unearned revenue (2 month advance) 2,000 Note payable — long term 14,000 Common stock 10,ooo Retained earnings 14,700 Dividends 4000 Service revenue 75,000 Salary expense 40,000 Rent expense 10,ooo Supplies expense 1,500 Depreciation expense 5,000 Utilities expense 1200...
Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,050 5,650 Accounts Receivable Prepaid Insurance Equipment 4,480 42,000 Accumulated Depreciation, Equipment Accounts Payable Salaries Payable $24,000 2,700 4,450 3,875 Unearned Service Revenue Common Stock 8,000 Retained Earnings 2,255 10,500 99,600 Dividends Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense 49,400 17,250 2,200 4,950 5,400 Totals $144,880 $144,880 Required: TO Required: Prepare a classified balance sheet for Sparrow at December 31, 2019. Sparrow Company...
Barney Company Unadjusted Trial Balance December 31, 2018 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle 145,000 23,000 6,500 24,000 110,000 15,000 75,000 50,000 8,000 16,900 3,000 45,000 46,000 67,600 5,000 490,000 Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 10,000 45,000 5,000 54,000 12,000 145,000 13,000 4,000...
Trial balance Account Titles Debit Credit Cash $ 95,430 Accounts Receivable $ 6,000 Prepaid Rent $ 25,000 Prepaid Insurance $ 2,700 Prepaid Supplies $ 120 Equipment $ 400,000 Accumulated Depreciation $ 3,250 Accounts Payable $ 970 Accrued Interest $ 1,400 Accrued Salaries $ 550 Unearned Rental Revenue $ 1,950 Notes Payable $ 350,000 Capital Stock-Mike $ 80,000 Capital Stock-Julie $ 80,000 Dividend $ 4,000 Retained Earnings $ - Rental Revenue $ 46,100 Salaries Expense $ 19,950 Rent Expense $ 5,000...
Barney Company Unadjusted Trial Balance December 31, 2018 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle 145,000 23,000 6,500 24,000 110,000 15,000 75,000 50,000 8,000 16,900 3,000 45,000 46,000 67,600 5,000 490,000 Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 10,000 45,000 5,000 54,000 12,000 145,000 13,000 4,000...