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For each adjustment, indicate the income statement and balance sheet account affected, and the impact on...
PLEASE ANSWER THE INCOME STATEMENT AND BALANCE SHEET AND IMPACT ON INCOME!!!!! Karla Tanner opened a...
PLEASE ANSWER THE INCOME STATEMENT AND BALANCE SHEET AND IMPACT
ON INCOME!!!!!
Karla Tanner opened a web consulting business called Linkworks
and recorded the following transactions in its first month of
operations.
Apr.
1
Tanner invests $80,000 cash along with office equipment valued
at $26,000 in the company in exchange for common stock.
Apr.
2
The company prepaid $9,000 cash for twelve months’ rent for
office space. The company's policy is record prepaid expenses in
balance sheet accounts.
Apr.
3...
The trial balance of Yewlett Company includes the following balance sheet accounts, which may require adjustment....
The trial balance of Yewlett Company includes the following balance sheet accounts, which may require adjustment. For each account that requires adjustment, indicate (a) the type of adjusting entry (prepaid expense, unearned revenue, accrued revenue, or accrued expense) and (b) the related account in the adjusting entry. (a) Type of Adjustment (b) Related Account Account Accounts Receivable Prepaid Insurance Accumulated Depreciation Equipment Interest Payable Unearned Service Revenue The adjusted trial balance of Parsons Company at December 31, 2020, includes the...
Need help on the Red X's shown here on the "Impact on income" and any other...
Need help on the Red X's shown here on the "Impact on income"
and any other "answer is not complete
Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Income For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be...
Instructions Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of...
Instructions Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of the current year, are as follows: Credits Debits $ 75,000 345,700 $112,500 9,000 3.350 Accounts Receivable Equipment Accumulated Depreciation Equipment Prepaid Rent Supplies Wages Payable Unearned Fees Fees Earned Wages Expense Rent Expense Depreciation Expense Supplies Expense 12,000 680,000 325,000 Data needed for year-end adjustments are as follows: . Unbilled fees at July 31, $11,150. • Supplies on hand at July 31. $900. Data...
Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of the...
Selected account balances before adjustment for Atlantic Coast
Realty at July 31, the end of the current year, are as follows:
Debits
Credits
Accounts Receivable
$75,000
Equipment
345,700
Accumulated Depreciation—Equipment
$112,500
Prepaid Rent
9,000
Supplies
3,350
Wages Payable
–
Unearned Fees
12,000
Fees Earned
660,000
Wages Expense
325,000
Rent Expense
–
Depreciation Expense
–
Supplies Expense
–
Data needed for year-end adjustments are as follows:
•
Unbilled fees at July 31, $11,150.
•
Supplies on hand at July 31, $900....
unadjusted, adjusted , all the sheet need to fill out 5. Award: 17.50 points GL0303 -...
unadjusted, adjusted , all the sheet need to fill out
5. Award: 17.50 points GL0303 - Extension of Problem 2-1A LO P1, P2, P3, P4, P5, P6 Mike Sweet opened a web consulting business called Sweet Homes and recorded the following transactions in its first month of operations Apr. 1 Sweet invest $2.000 cash along with office equipment valued at $35,500 in the company in exchange for common stock Apr. 2 The company prepaid $11.400 cash for telve months' rent...
Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of the...
Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of the current year, are as follows: Debits Credits Accounts Receivable $ 72,900 Equipment 349,200 Accumulated Depreciation—Equipment $117,900 Prepaid Rent 8,850 Supplies 3,020 Wages Payable – Unearned Fees 13,000 Fees Earned 657,700 Wages Expense 335,800 Rent Expense – Depreciation Expense – Supplies Expense – Data needed for year-end adjustments are as follows: • Unbilled fees at July 31, $10,500. • Supplies on hand at July 31,...
The unadjusted trial balance of PS Music as of July 31, 2016, along with the adjustment...
The unadjusted trial balance of PS Music as of July 31, 2016,
along with the adjustment data for the two months ended July 31,
2016, are shown in Chapter 3. Based upon the adjustment data, the
following adjusted trial balance was prepared:
PS Music
ADJUSTED TRIAL BALANCE
July 31, 2016
ACCOUNT TITLE
DEBIT
CREDIT
1
Cash
9,945.00
2
Accounts Receivable
4,150.00
3
Supplies
275.00
4
Prepaid Insurance
2,475.00
5
Office Equipment
7,500.00
6
Accumulated Depreciation-Office Equipment
50.00
7
Accounts Payable...
I need help filling in letter e (unbilled fees). Thanks!! u per month d) Straight-line depreciation...
I
need help filling in letter e (unbilled fees). Thanks!!
u per month d) Straight-line depreciation of office equipment, based on a 5-year life and a $4,000 saivage value, is s e) The company has completed work for a client, but has not yet billed the $1,800 fee. f) Wages due to employees, but not yet pald, as of April 30 total $2,600. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Income...
Karla Tanner opened a web consulting business called Linkworks and recorded the following transactions in its...
Karla Tanner opened a web consulting business called Linkworks and recorded the following transactions in its first month of operations. Apr. 1 Tanner invests $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock. Apr. 2 The company prepaid $9,000 cash for twelve months’ rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. Apr. 3 The company made credit purchases for $8,000 in office equipment and $3,600...
PLEASE ANSWER THE INCOME STATEMENT AND BALANCE SHEET AND IMPACT
ON INCOME!!!!!
Karla Tanner opened a web consulting business called Linkworks
and recorded the following transactions in its first month of
operations.
Apr.
1
Tanner invests $80,000 cash along with office equipment valued
at $26,000 in the company in exchange for common stock.
Apr.
2
The company prepaid $9,000 cash for twelve months’ rent for
office space. The company's policy is record prepaid expenses in
balance sheet accounts.
Apr.
3...
The trial balance of Yewlett Company includes the following balance sheet accounts, which may require adjustment. For each account that requires adjustment, indicate (a) the type of adjusting entry (prepaid expense, unearned revenue, accrued revenue, or accrued expense) and (b) the related account in the adjusting entry. (a) Type of Adjustment (b) Related Account Account Accounts Receivable Prepaid Insurance Accumulated Depreciation Equipment Interest Payable Unearned Service Revenue The adjusted trial balance of Parsons Company at December 31, 2020, includes the...
Need help on the Red X's shown here on the "Impact on income"
and any other "answer is not complete
Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Income For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be...
Instructions Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of the current year, are as follows: Credits Debits $ 75,000 345,700 $112,500 9,000 3.350 Accounts Receivable Equipment Accumulated Depreciation Equipment Prepaid Rent Supplies Wages Payable Unearned Fees Fees Earned Wages Expense Rent Expense Depreciation Expense Supplies Expense 12,000 680,000 325,000 Data needed for year-end adjustments are as follows: . Unbilled fees at July 31, $11,150. • Supplies on hand at July 31. $900. Data...
Selected account balances before adjustment for Atlantic Coast
Realty at July 31, the end of the current year, are as follows:
Debits
Credits
Accounts Receivable
$75,000
Equipment
345,700
Accumulated Depreciation—Equipment
$112,500
Prepaid Rent
9,000
Supplies
3,350
Wages Payable
–
Unearned Fees
12,000
Fees Earned
660,000
Wages Expense
325,000
Rent Expense
–
Depreciation Expense
–
Supplies Expense
–
Data needed for year-end adjustments are as follows:
•
Unbilled fees at July 31, $11,150.
•
Supplies on hand at July 31, $900....
unadjusted, adjusted , all the sheet need to fill out
5. Award: 17.50 points GL0303 - Extension of Problem 2-1A LO P1, P2, P3, P4, P5, P6 Mike Sweet opened a web consulting business called Sweet Homes and recorded the following transactions in its first month of operations Apr. 1 Sweet invest $2.000 cash along with office equipment valued at $35,500 in the company in exchange for common stock Apr. 2 The company prepaid $11.400 cash for telve months' rent...
The unadjusted trial balance of PS Music as of July 31, 2016,
along with the adjustment data for the two months ended July 31,
2016, are shown in Chapter 3. Based upon the adjustment data, the
following adjusted trial balance was prepared:
PS Music
ADJUSTED TRIAL BALANCE
July 31, 2016
ACCOUNT TITLE
DEBIT
CREDIT
1
Cash
9,945.00
2
Accounts Receivable
4,150.00
3
Supplies
275.00
4
Prepaid Insurance
2,475.00
5
Office Equipment
7,500.00
6
Accumulated Depreciation-Office Equipment
50.00
7
Accounts Payable...
I
need help filling in letter e (unbilled fees). Thanks!!
u per month d) Straight-line depreciation of office equipment, based on a 5-year life and a $4,000 saivage value, is s e) The company has completed work for a client, but has not yet billed the $1,800 fee. f) Wages due to employees, but not yet pald, as of April 30 total $2,600. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Income...
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