Cullumber Company | ||
Income Statement | ||
For the year ended July 31, 2020 | ||
$ | $ | |
Revenue: | ||
Service revenue | 64,200.00 | |
Rent revenue | 6,500.00 | |
Total Revenue | 70,700.00 | |
Less Expenses: | ||
Depreciation expense | 9,500.00 | |
Salaries and Wages expense | 56,000.00 | |
Utilities expense | 15,400.00 | |
Total Expenses | 80,900.00 | |
Net Income (Loss) | (10,200.00) |
Cullumber Company | ||
Owner's Equity Statement | ||
$ | $ | |
Owner's capital, Opening | 45,200.00 | |
Less: | ||
Net Loss | 10,200.00 | |
Drawings | 16,200.00 | |
26,400.00 | ||
Owner's capital, Closing | 18,800.00 |
Cullumber Company | ||
BALANCE SHEET | ||
AS OF JULY 31, 2020 | ||
$ | $ | |
Assets | ||
Current Assets | ||
Cash | 8,300.00 | |
Accounts receivable | 9,000.00 | |
Total current assets | 17,300.00 | |
Property, plant and equipment | ||
Equipment | 15,800.00 | |
Less: Accumulated depreciation - Equipment | (7,700.00) | |
Total property, plant, and equipment | 8,100.00 | |
Total assets | 25,400.00 | |
Liabilities and stockholders’ equity | ||
Current liabilities | ||
Accounts payable | 4,700.00 | |
Unearned rent revenue | 1,900.00 | |
Total liabilities | 6,600.00 | |
Stockholders’ equity | ||
Owner's capital | 18,800.00 | |
Total stockholders’ equity | 18,800.00 | |
Total liabilities and stockholders’ equity | 25,400.00 |
PREPARE A CLASSIFIED BALANCE SHEET 2:06:08 PM / Remaining: 109 min. Adjusted Trial Balance July 31,...
prepare an owners equity statement for the year. cullumber did not make any capital investments during the year ESOURCES 13 Credit Debit $8,300 9,000 15,800 s by Study Cullumber Company Adjusted Trial Balance July 31, 2020 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Uneamed Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense $7,700...
CES Question 1 Cullumber Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Cullumber Company Adjusted Trial Balance July 31, 2020 tudy NO. Account Titles Credit Debit $8,300 9,000 15,800 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Uneamed Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries...
list of accounts Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Blossom Company Adjusted Trial Balance July 31, 2020 Account Titles No. Debit Credit $8,000 9,000 16,200 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense Salaries and Wages...
Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Credit Debit $8,000 8,500 15,500 Blossom Company Adjusted Trial Balance July 31, 2020 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732...
These financial statement items are for Rugen Company at year-end, July 31, 2016. (20 pts Salaries and wages payable $ 2,980 Notes payable (long-term) $ 3,000 Salaries and wages expense 45,700 Cash 5,200 utilities expense 21,100 Accounts receivable 9,730 Suipment 38,000 Accumulated depreciation 5,000 A unts payable 4,100 Owner's Drawings 4,000 Service revenue 57,200 Depreciation expense 4,000 Rent revenue 6,500 Owner's capital (beginning 48,000 of the year) Instructions a) Prepare an income statement and an owner's equity statement for the...
on the Production Classified balance Sheet sheet based Prepare a classified balance adjusted trial Balance for the wood on January 30,2020 Dhaliwal froductions Adjusted Tural Balance January 30, 2020 4 2000 Cash $ 9000 Acounts Receivable $ 5,000 Prepaid Rent 95,00 Prepaid insurance 32.00 Subblies 30,000 Land Building 50,000 19ooo Accundulated Depreciation Building Equipment 35,000 7,000 Accumulated depreciation equipment 8,000 Accounts payable Salary bayable 3,000 Interfest payable 1,000 Mortgage payable due (12/31/2013) 40,000 (P. Bhaliwal Capital 84,900 (P. Dhaliwal drawings....
Frank's Trucking Co. Adjusted Trial Balance October 31, 2021 Dobit Credit $ 35,420 Cash. Supplies ($6,000 - $4,000).... 2,000 Equipment...... 140,000 $ 56,000 Accumulated depreciation equipment... Vehicles.. 110,000 61,875 Accumulated depreciation-vehicles................ Accounts payable.. 7,950 Salaries payable 2,550 60,000 275 75,750 36,000 200,525 Notes payable... Interest payable. H. Burke, capital ......... H. Burke, drawings ....- Service revenue Depreciation expense.... Repairs expense.... Insurance expense ........ Interest expense ($3,392 + $275).......... Rent expense..... Salaries expense ($45,000 + $2,550)...... Supplies expense ... 27,750 28,038...
Continuing Problem Chapter 4-Instruction #1 The adjusted trial balance of PS Music as of July 31, 2019 is shown below: PS Music Adjusted Trial Balance July 31, 2019 Debit Balances Credit Balances Cash 9,945 Accounts Receivable 4,150 Supplies 275 Prepaid Insurance 2,475 Office Equipment 7,500 Accumulated Depreciation—Office Equipment 50 Accounts Payable 8,350 Wages Payable 140 Unearned Revenue 3,600 Peyton Smith, Capital 9,000 Peyton Smith, Drawing 1,750 Fees Earned 21,200 Music Expense 3,610 Wages Expense 2,940 Office Rent Expense 2,550 Advertising...
Exercise 3-18 a-c (Video) The adjusted trial balance for Oriole Company is shown below. ORIOLE COMPANY Trial Balance August 31, 2020 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,000 10,000 $10,000 9,000 2,500 3,800 14,300 500 2,500 14,300 $ 3,500 5,700 $ 4,400 5,700 0 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Owner's Capital Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance...
prepare a post closing trial balance Question 2 Cullumber Company had the following adjusted trial balance. Cullumber Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,570 Accounts Receivable 3,950 Supplies 600 Accounts Payable $1,500 Unearned Service Revenue Owner's Capital 4,710 Owner's Drawings Service Revenue 5,600 Salaries and Wages Expense Miscellaneous Expense Supplies Expense Salaries and Wages Payable 520 $12,500 O DO 170 N O $ U J.UU ) Prepare...