Mossley Mosaic Tiles
Balance sheet of December 31,2021
ASSETS | |
Current Assets | |
Cash | 31400 |
Accounts Receivable | 26500 |
Prepaid Insurance | 2000 |
Prepaid Rent | 5000 |
Supplies | 3330 |
Total Current Asset | 68230 |
Fixed Asset | |
Equipment | 17500 |
Accumulated Depreciation-Equipment | (5200) |
Furniture | 25000 |
Accumulated Depreciation-Furniture | (4250) |
Total Non-current assets | 33050 |
Total Assets | 101280 |
LIABILITIES AND EQUITY | |
Current Liabilities | |
Accounts Payable | 8400 |
Salary Payable | 12200 |
Unearned revenue | 6700 |
Total current liabilities | 27300 |
Long-term Liabilities | |
Mortgage Payable | 35000 |
Total Non-current liabilities | 35000 |
Total Liabilities | 62300 |
Shareholder's Equity | |
M.Mosaic Capital | 58567 |
M.Mosaic Drawings | (15000) |
Retained Earnings/Profit&Loss | (4587) |
Total Equity | 38980 |
Total Liabilities and Equity | 101280 |
Profit and Loss Statement
Service revenue | 33500 | |
Salary Expense | 24387 | |
Depreciation expense | 4500 | |
Rent expense | 5500 | |
Insurance expense | 2200 | |
Supplies expense | 700 | |
Advertising expense | 800 | (38087) |
Net Loss | (4587) |
The adjusted trial balance for Mosley's Mosaic Tiles at December 31, 2021 is as follows: Credit...
The adjusted trial balance for Jurassic Services Company at December 31, 2021 is as follows: Jurassic Services Company Adjusted Trial Balance December 31, 2021 Debit Credit Cash $21,400 Accounts receivable 1,500 Prepaid insurance 2,000 Prepaid rent 5,000 Supplies 3,330 Equipment 17,500 Accumulated depreciation-equipment $5,200 Furniture 25,000 Accumulated depreciation-furniture 4,250 Accounts payable 8,400 Salary payable 12,200 Unearned revenue 6,700 J. Jurassic, drawings 15,000 J. Jurassic, capital 58,567 Service revenue 33,500 Salary expense 24,387 Depreciation expense 4,500 Rent expense 5,500 Insurance expense...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,200 132,000 4,200 220,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $117,000 10,200 9,200 3,200 22,000 120,000 42,000 320,000 220,000 11,000 22,000 3,200 $643, 600 $643, 600 FIGHTIN' BLUE HENS CORPORATION Post-Closing...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit 12,000 150,000 6,000 30,000 400,000 $ Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals 135,000 12,000 11,000 5,000 40,000 300,000 60,000 500,000 400,000 20,000 40,000 5,000 $1,063,000 $1,063,000 2. Prepare a statement of stockholders'...
Question Completion Status: The adjusted trial balance for Novakowski Company as at December 31, 2021 is as follows: NOVAKOWSKI COMPANY Adjusted Trial Balance December 31, 2021 Debit Credit Cash $20,000 Accounts receivable 4,000 Prepaid insurance 7,000 Supplies 4,500 Equipment 48.000 Accumulated depreciation-equipment $ 4,800 Patents 7,500 Accumulated amortization-patent 1.500 Accounts payable 21.500 Bonds payable, due in 2023 18,000 M. Novakowski, capital 46,000 M. Novakowski, drawings 4.200 Service revenue 23.400 Salaries expense 5 200 Depreciation and amortization expense 6.300 Insurance expense...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. AccountsDebitCreditCash$10,600Accounts Receivable136,000Prepaid Rent4,600Supplies23,000Equipment260,000Accumulated Depreciation$121,000Accounts Payable10,600Salaries Payable9,600Interest Payable3,600Notes Payable (due in two years)26,000Common Stock160,000Retained Earnings46,000Service Revenue360,000Salaries Expense260,000Rent Expense13,000Depreciation Expense26,000Interest Expense3,600Totals$736,800$736,800Prepare a classified balance sheet as of December 31, 2021.(Amounts to be deducted should be indicated by a minus sign.)
The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit Cash $ 11,000 Accounts receivable 150,000 Prepaid rent 5,000 Supplies 25,000 Equipment 300,000 Accumulated depreciation $ 135,000 Accounts payable 20,000 Salaries payable 4,000 Interest payable 1,000 Notes payable (due in two years) 30,000 Common stock 200,000 Retained earnings 50,000 Dividends 20,000 Service revenue 400,000 Salaries expense 180,000 Advertising expense 70,000 Rent expense 15,000 Depreciation expense 30,000 Interest expense 2,000 Utilities expense 32,000...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 10,600 Accounts Receivable 136,000 Prepaid Rent 4,600 Supplies 23,000 Equipment 260,000 Accumulated Depreciation $ 121,000 Accounts Payable 10,600 Salaries Payable 9,600 Interest Payable 3,600 Notes Payable (due in two years) 26,000 Common Stock 160,000 Retained Earnings 46,000 Service Revenue 360,000 Salaries Expense 260,000 Rent Expense 13,000 Depreciation Expense 26,000 Interest Expense 3,600 Totals $ 736,800 $ 736,800 Prepare an...
The following information applies to the questions displayed below) The December 31, 2021. adjusted trial balance for Fight Blue Hens Corporation is presented below. Debit $ 10,500 135.00 1,500 22,500 250, $120,000 10,5ee 9, See Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals 45, 350,000 250.000 5713,500 $713,50 Required: 1. Prepare an...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 10,600 Accounts Receivable 136,000 Prepaid Rent 4,600 Supplies 23,000 Equipment 260,000 Accumulated Depreciation $ 121,000 Accounts Payable 10,600 Salaries Payable 9,600 Interest Payable 3,600 Notes Payable (due in two years) 26,000 Common Stock 160,000 Retained Earnings 46,000 Service Revenue 360,000 Salaries Expense 260,000 Rent Expense 13,000 Depreciation Expense 26,000 Interest Expense 3,600 Totals $ 736,800 $ 736,800 Prepare a...
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