3. (15 points) (Adjusting Entries and Financial Statements) The following are the trial balance and the...
(Adjusting Entries and Financial Statements) The following are the trial balance and the other information related to Yorkis Perez, a consulting engineer. YORKIS PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2014 Debit Credit Cash $ 44,500 Accounts Receivable 49,600 Allowance For Doubtful Accounts $ 750 Inventory 1,960 Prepaid Insurance 1,100 Prepaid Rent 3,750 Equipment 25,000 Accumulated Depreciation—Equipment 6,250 Unearned Revenue 15,000 Notes Payable 7,200 Owner’s Capital 35,010...
The following are the trial balance and the other information related to Martinez Perez, a consulting engineer. MARTINEZ PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2017 Debit Credit $29,500 56,400 $718 1,730 1,050 33,800 Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Notes Payable Owner's Capital Service Revenue Rent Expense (13 months of rent) Salaries and Wages Expense Utilities Expenses Office Expense 8,450 7,200 35,342 112,964 9,334 30,360 1,750 750 Totals $164,674 $164,674 1....
MARTINEZ PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2017 Debit $29,500 56,400 Credit Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Owner's Capital Service Revenue Rent Expense (13 months of rent) Salaries and Wages Expense Utilities Expenses Office Expense Totals $718 1,730 1,050 33,800 8,450 7,200 35,342 112,964 9,334 30,360 1,750 750 $164,674 $164,674 1. Fees received in advance from clients $6,010, which were recorded as revenue 2. Services performed for clients that...
Problem 3-06 The following are the trial balance and the other information related to Kenneth Consulting Engineer. Credit $817 KENNETH CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2020 Debit Cash $29,500 Accounts Receivable 57,200 Allowance for Doubtful Accounts Supplies 1,500 Prepaid Insurance 1,270 Equipment 29,700 Accumulated Depreciation Equipment Notes Payable Common Stock Retained Earnings Service Revenue Rent Expense 10,621 Salaries and Wages Expense 34,650 Utilities Expenses 1,680 Office Expense 680 $166,801 5,759 7,200 10,000 22,092 120,933 $166,801 1. Fees received in...
Problem 3-6 The following are the trial balance and the other information related to Pearl Perez, a consulting engineer. PEARL PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2017 Debit Credit Cash $29,500 Accounts Receivable 57,000 Allowance for Doubtful Accounts $815 Supplies 1,880 Prepaid Insurance 1,940 Equipment 30,300 Accumulated Depreciation-Equipment 7,575 Notes Payable 7,200 Owner’s Capital 36,778 Service Revenue 115,887 Rent Expense (13 months of rent) 10,595 Salaries and Wages Expense 34,700 Utilities Expenses 1,720 Office Expense 620 Totals $168,255 $168,255...
Determining Adjusting Entries, Posting to T Accounts, and Preparing an Adjusted Trial Balance P6. Brave Advisors Service's trial balance on December 31, 2014, is as follows. GENERAL LEDGER Adjusted trial balance: $121,792 16,500 8,250 2,662 1,320 9.240 Brave Advisors Service Trial Balance December 31, 2014 Cash Accounts Receivable Office Supplies Prepaid Rent Office Equipment Accumulated Depreciation Office Equipment Accounts Payable Notes Payable Unearned Service Revenue B. Cooper, Capital B. Cooper, Withdrawals Service Revenue Salaries Expense Rent Expense Utilities Expense 1,540...
The following are the trial balance and the other information related to Charles Consulting Engineer. CHARLES CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $29,500 Accounts Receivable 52,700 Allowance for Doubtful Accounts $701 Supplies 2,000 Prepaid Insurance 1,680 Equipment 26,300 Accumulated Depreciation-Equipment 6,310 Notes Payable 7,200 Common Stock 10,000 Retained Earnings 24,581 Service Revenue 107,741 Rent Expense 9,113 Salaries and Wages Expense 32,990 Utilities Expenses 1,640 Office Expense 610 $156,533 $156,533 1. Fees received in advance from clients...
Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Post entries in the order of journal entries presented in the previous part.) Sharon Lee started her own consulting firm, Lee Consulting, on May 1, 2020. The trial balance at May 31 is as follows. LEE CONSULTING Trial Balance May 31, 2020 Credit Debit $4,600 5.900 2.000 4.800 10.200 Account Number 101 112 126 130 149 201 209 301 400 726...
PROBLEM NO. 4 – FINANCIAL STATEMENTS The adjusted trial balance of Perez Company appears below. Using the information from the adjusted trial balance, you are to prepare for the quarter ending March 31, 2020: 1. an income statement. 2. an owner’s equity statement. 3. a balance sheet. Perez Company Adjusted Trial Balance March 31, 2020 Debit Credit Cash......................................................................................................... $ 17,000 Accounts Receivable.................................................................................. 4,500 Supplies.................................................................................................... 1,000 Equipment................................................................................................. 18,000 Accumulated Depreciation—Equipment........................................................ $ 6,000 Accounts Payable....................................................................................... 8,000 Unearned Service Revenue......................................................................... 7,000 Salaries and Wages Payable....................................................................... 1,000 Perez, Capital............................................................................................ 18,250 Perez, Drawings......................................................................................... 3,500 Service Revenue........................................................................................ 16,400 Salaries...
#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...