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Mastery Problem: The Adjusting Process. Unadjusted Financial Statements These financial statements were prepared from the unadjusted...
Calculator Mastery Problem: The Adjusting Process Unadjusted Financial Statements Adjusted Financial Statements Chart of Accounts Unadjusted...
Calculator Mastery Problem: The Adjusting Process Unadjusted Financial Statements Adjusted Financial Statements Chart of Accounts Unadjusted Financial Statements These financial statements were prepared from the unadjusted trial balance. Cole Designs Inc. Income Statement For the Year Ended December 31, 2017 1 Fees eamed $68,200.00 2 Wages expense 3 Net income 44,300.00 $23,900.00 Cole Designs Inc. Balance Sheet December 31, 2017 Assets 2 Cash 3 Accounts receivable $5,000.00 31,400.00 4 Supplies 3,575.00 Work 1 more Check My Work uses remaining. Unadjusted...
Unadjusted Financial Statements income Statement For the Year Ended December 31, 2017 Service revenue $70,600.00 Wages...
Unadjusted Financial Statements income Statement For the Year Ended December 31, 2017 Service revenue $70,600.00 Wages expense 44,300.00 Net income $26,300.00 Cole Designs Inc. Balance Sheet December 31, 2017 Assets Cash $5,000.00 Accounts receivable 32,600.00 Supplies 3,650.00 5 Prepaid insurance 4,000.00 6 Office equipment 11,000.00 Total assets $56,250.00 Liabilities Unearned revenue $9,500.00 Stockholders' Equity Common stock $12,000.00 12 Retained earnings 34,750.00 46,750.00 13 Total liabilities and stockholders'equity $56,250.00 Cole Designs Inc. Income Statement For the Year Ended December 31, 2017...
please answer the red boxes. one of the red boxes is not Capital, cash or equipment....
please answer the red boxes. one of the red boxes is not
Capital, cash or equipment. the first two boxes are not net
income.
Aujusteu PInancial Statements Matching Principle/Revenue Recognition Oversta- Adjusting Entries These financial statements were prepared from the unadjusted trial balance. Cole Designs Income Statement For the Year Ended December 31, 2018 1 Fees earned $70,600.00 2 Wages expense 44,300.00 3 Net income $26,300.00 Adjusted Financial Statements Matching Principle/Revenue RecognitionOverstate- Adjusting Entries Assets 2 Cash $5,000.00 3 Accounts...
CHART OF ACCOUNTS Cole Designs General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts...
CHART OF ACCOUNTS Cole Designs General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 14 Supplies EXPENSES 15 Prepaid Insurance 51 Wages Expense 18 Equipment 52 Supplies Expense 55 Insurance Expense 19 Accumulated Depreciation-Equipment 56 Depreciation Expense 18 Equipment 52 Supplies Expense 19 Accumulated Depreciation-Equipment 55 Insurance Expense 56 Depreciation Expense LIABILITIES 22 Wages Payable 23 Unearned Fees EQUITY 31 Ann Cole, Capital 32 Ann Cole, Drawing These financial statements were prepared from the unadjusted trial balance....
Financial Statements from the End-of-Period Spreadsheet Financial Statements from the End-of-Period Spreadsheet Triton Consulting is a...
Financial Statements from the End-of-Period Spreadsheet
Financial Statements from the End-of-Period Spreadsheet Triton Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended April 30, 2013: During the year ended April 30, 20Y3, common stock of $5,000 was issued. Triton Consulting End-of-Period Spreadsheet For the Year Ended April 30, 20Y3 Unadjusted Trial Balance Dr. Cr. Adjustments Dr. Cr. Adjusted Trial Balance Dr. Cr. Account Title Cash 21,500 51,150 2,400...
Hi, I'm stuck on two adjusting entries. The problem gives me an unadjusted trial balance and...
Hi, I'm stuck on two adjusting entries. The problem gives me an
unadjusted trial balance and I have to calculate net income using
the additional data they give me. I figured out the AJEs for
transactions A, B, and E, but I need help with transactions B and
C. I'm confused because for transaction C I debited insurance
expense of 1,800 and credited prepaid insurance of 1,800 (which
seems to be a deferred expense) and for transaction D I debited...
Problem 3-73B Adjusting Entries and Financial Statements Objective 4, 5 The unadjusted trial balance for Mitchell...
Problem 3-73B Adjusting Entries and Financial Statements Objective 4, 5 The unadjusted trial balance for Mitchell Pharmacy appears below. Mitchell Pharmacy Unadjusted Trial Balance December 31, 2018 Debit Account Credit S 3.400 64,820 583.400 11.200 230,000 S 44.000 Cash Accounts Receivable Inventory Prepaid Insurance Building Accumulated Depreciation (Building) Land Other Assets Accounts Payable Notes Payable (due 2020) Common Shares Retained Earnings, 12/31/2017 Service Revenue Wages Expense Interest Expense Total 31,200 25.990 47,810 150.000 600,000 41.200 950,420 871.420 12.000 $1.833.430 51.833.430...
North Star prepared the following unadjusted trial balance at the end of its second year of...
North Star prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. Account Titles Debit Credit Cash $ 12,000 Accounts Receivable 6,000 Prepaid Rent 2,400 Equipment 21,000 Accumulated Depreciation $ 1,000 Accounts Payable 1,000 Income Tax Payable 0 Common Stock 24,800 Retained Earnings 2,100 Sales Revenue 50,000 Salaries and Wages Expense 25,000 Utilities Expense 12,500 Rent Expense 0 Depreciation Expense 0 Income Tax Expense 0 Totals $ 78,900 $ 78,900 Other data...
Mastery Problem: Analyzing Transactions KL Company Inc. In February, Katie Long formed KL Company Inc. Transactions...
Mastery Problem: Analyzing Transactions KL Company Inc. In February, Katie Long formed KL Company Inc. Transactions for the month of March have been posted to the T accounts. An intern has prepared a trial balance from th T accounts, but there seem to be some errors. T accounts Bal. 3/25 3/28 3/30 Cash 8,000 3/3 7,425 3/27 4,500 3/29 7,825 3/31 2,300 1,275 3,625 1,875 Bal. Accounts Receivable 1,950 9,875 3/30 7,825 3/18 Bal 3/7 Supplies 225 1,450 Office Equipment...
T Accounts, Adjusting Entries, Financial Statements, and Closing Entries; optional end-of-period spreadsheet The unadjusted trial balance...
T Accounts, Adjusting Entries, Financial Statements, and Closing Entries; optional end-of-period spreadsheet The unadjusted trial balance of La Mesa Laundry at August 31, 20Y5, the end of the fiscal year, follows: La Mesa Laundry Unadjusted Trial Balance August 31, 20Y5 Debit Balances Credit Balances Cash 3,800 Laundry Supplies 9,000 Prepaid Insurance 6,000 Laundry Equipment 180,800 Accumulated Depreciation 49,200 Accounts Payable 7,800 Common Stock 15,000 Retained Earnings 80,000 Dividends 2,400 Laundry Revenue 248,000 Wages Expense 135,800 Rent Expense 43,200 Utilities Expense...
Calculator Mastery Problem: The Adjusting Process Unadjusted Financial Statements Adjusted Financial Statements Chart of Accounts Unadjusted Financial Statements These financial statements were prepared from the unadjusted trial balance. Cole Designs Inc. Income Statement For the Year Ended December 31, 2017 1 Fees eamed $68,200.00 2 Wages expense 3 Net income 44,300.00 $23,900.00 Cole Designs Inc. Balance Sheet December 31, 2017 Assets 2 Cash 3 Accounts receivable $5,000.00 31,400.00 4 Supplies 3,575.00 Work 1 more Check My Work uses remaining. Unadjusted...
Unadjusted Financial Statements income Statement For the Year Ended December 31, 2017 Service revenue $70,600.00 Wages expense 44,300.00 Net income $26,300.00 Cole Designs Inc. Balance Sheet December 31, 2017 Assets Cash $5,000.00 Accounts receivable 32,600.00 Supplies 3,650.00 5 Prepaid insurance 4,000.00 6 Office equipment 11,000.00 Total assets $56,250.00 Liabilities Unearned revenue $9,500.00 Stockholders' Equity Common stock $12,000.00 12 Retained earnings 34,750.00 46,750.00 13 Total liabilities and stockholders'equity $56,250.00 Cole Designs Inc. Income Statement For the Year Ended December 31, 2017...
please answer the red boxes. one of the red boxes is not
Capital, cash or equipment. the first two boxes are not net
income.
Aujusteu PInancial Statements Matching Principle/Revenue Recognition Oversta- Adjusting Entries These financial statements were prepared from the unadjusted trial balance. Cole Designs Income Statement For the Year Ended December 31, 2018 1 Fees earned $70,600.00 2 Wages expense 44,300.00 3 Net income $26,300.00 Adjusted Financial Statements Matching Principle/Revenue RecognitionOverstate- Adjusting Entries Assets 2 Cash $5,000.00 3 Accounts...
CHART OF ACCOUNTS Cole Designs General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 14 Supplies EXPENSES 15 Prepaid Insurance 51 Wages Expense 18 Equipment 52 Supplies Expense 55 Insurance Expense 19 Accumulated Depreciation-Equipment 56 Depreciation Expense 18 Equipment 52 Supplies Expense 19 Accumulated Depreciation-Equipment 55 Insurance Expense 56 Depreciation Expense LIABILITIES 22 Wages Payable 23 Unearned Fees EQUITY 31 Ann Cole, Capital 32 Ann Cole, Drawing These financial statements were prepared from the unadjusted trial balance....
Financial Statements from the End-of-Period Spreadsheet
Financial Statements from the End-of-Period Spreadsheet Triton Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended April 30, 2013: During the year ended April 30, 20Y3, common stock of $5,000 was issued. Triton Consulting End-of-Period Spreadsheet For the Year Ended April 30, 20Y3 Unadjusted Trial Balance Dr. Cr. Adjustments Dr. Cr. Adjusted Trial Balance Dr. Cr. Account Title Cash 21,500 51,150 2,400...
Hi, I'm stuck on two adjusting entries. The problem gives me an
unadjusted trial balance and I have to calculate net income using
the additional data they give me. I figured out the AJEs for
transactions A, B, and E, but I need help with transactions B and
C. I'm confused because for transaction C I debited insurance
expense of 1,800 and credited prepaid insurance of 1,800 (which
seems to be a deferred expense) and for transaction D I debited...
Problem 3-73B Adjusting Entries and Financial Statements Objective 4, 5 The unadjusted trial balance for Mitchell Pharmacy appears below. Mitchell Pharmacy Unadjusted Trial Balance December 31, 2018 Debit Account Credit S 3.400 64,820 583.400 11.200 230,000 S 44.000 Cash Accounts Receivable Inventory Prepaid Insurance Building Accumulated Depreciation (Building) Land Other Assets Accounts Payable Notes Payable (due 2020) Common Shares Retained Earnings, 12/31/2017 Service Revenue Wages Expense Interest Expense Total 31,200 25.990 47,810 150.000 600,000 41.200 950,420 871.420 12.000 $1.833.430 51.833.430...
Mastery Problem: Analyzing Transactions KL Company Inc. In February, Katie Long formed KL Company Inc. Transactions for the month of March have been posted to the T accounts. An intern has prepared a trial balance from th T accounts, but there seem to be some errors. T accounts Bal. 3/25 3/28 3/30 Cash 8,000 3/3 7,425 3/27 4,500 3/29 7,825 3/31 2,300 1,275 3,625 1,875 Bal. Accounts Receivable 1,950 9,875 3/30 7,825 3/18 Bal 3/7 Supplies 225 1,450 Office Equipment...
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