Use the adjusted trial balance figures to prepare a balance sheet.
Homework Answers
| Income Statement | ||
| Fees Earned | 40,000.00 | |
| Expenses | ||
| Salary Expense | 1,705.00 | |
| Rent Expense | 1,600.00 | |
| Supplies Expense | 1,370.00 | |
| Depreciation Expense | 330.00 | |
| Insurance Expense | 275.00 | |
| Miscellaneous Expense | 1,295.00 | 6,575.00 |
| Net income | 33,425.00 | |
| Balance Sheet | ||
| Assets | ||
| Current Assets | ||
| Cash | 44,195.00 | |
| Accounts Receivable | 8,080.00 | |
| Supplies | 715.00 | |
| Prepaid Rent | 1,600.00 | |
| Prepaid Insurance | 1,225.00 | 55,815.00 |
| Office Equipment | 14,500.00 | |
| Less Accumulated Depreciation | 660.00 | 13840.00 |
| Total Assets | 69655.00 | |
| Liabailities And Equities | ||
| Current Liabilities | ||
| Accounts Payable | 895.00 | |
| Salaries Payable | 325.00 | |
| Unearned Fees | 3210.00 | 4430.00 |
| Equity | ||
| Kelly Pitney, Capital | 65,225.00 | |
| Total Liabailities And Equities | 69,655.00 | |
| Statement of Equity | |
| Kelly Pitney, Capital | 42,300.00 |
| Add Net Income | 33,425.00 |
| Less Kelly Pitney, Drawing | 10,500.00 |
| Kelly Pitney, Capital | 65,225.00 |
Add Answer to:
Use the adjusted trial balance figures to prepare a balance
sheet.
ADJUSTED TRIAL BALANCE May...
In total, there are pages 5 and 6 to the journal and page 7 is adjusting entries. there is also closing ent...
In total, there are pages 5 and 6 to the journal and page 7 is
adjusting entries. there is also closing entries (part of the
journal), I do NOT need to enter ledger accounts, there is also an
unadjusted trial balance, adjusted trial balance, income statement,
statement of owners equity, balance sheet, and post-closing trial
balance.
This is what I have already:
The trial balances are wrong becayse my totals dont match and
im not sure why. The other financial...
Complete the worksheet using the excel file. Add your adjusting journal entries and complete the adjusted...
Complete the worksheet using the excel file. Add your adjusting journal entries and complete the adjusted trial balance. Do not do the financial statements, closing entries, or post-close trial balance. The information for the adjusting journal entries are at the bottom of the tab- "adjusting entries" Adjusting Journal Entries Info. Insurance that expired during December was $275.00 A physical count of the supplies indicated that $715.00 were on hand. Depreciation on office equipment for the period was $330.00 Salaries worked...
Please provide the answer to all of the questions, I want to match up my work....
Please provide the answer to all of the questions, I want to
match up my work. I have the incorrect adjusted and unadjusted
trial
Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 20Y5. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter. During May, Kelly Consulting entered into the following transactions: May 3 Received cash from clients as an advance payment for services to be provided and recorded it as...
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000...
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000 Accounts Receivable 3,300 Prepaid Insurance 6,600 Supplies 1,200 Land 42,300 Equipment 5,700 Accumulated Depreciation Equipment Accounts Payable þwner, Capital pwner, Drawing 3,200 Service Fees Wages Expense 8,500 Supplies Expense 2,100 Utilities Expense 200 Insurance Expense 100 Depreciation Expense-Equipment 5,500 104,700 5,500 5,300 73,900 20,000 104,700 a. For each account, open a T account, title the account, and place its balance in it. Cash Accounts...
plzz adjusted trial balance, income statement and balance sheet for question End of Chapter Problem 4.6...
plzz adjusted trial balance, income statement and balance sheet
for question
End of Chapter Problem 4.6 The trial balance of Chelsea Elliott, marketing services provider, at 30 June 2015 was as follows: Chelsea Elliott, Marketing Services Unadjusted trial balance as at 30 June 2015 Account Debit Credit Cash at bank 57,940 Accounts receivable 22,130 GST receivable 2,650 Prepaid rent 2,140 Prepaid insurance 2,780 Office supplies 4,100 Office equipment 12,440 Accumulated depreciation - office equipment $2,520 Accounts payable 2,860 Unearned fees...
points) Below is the adjusted trial balance for Baba Repair Service. Please prepare the income statement...
points) Below is the adjusted trial balance for Baba Repair Service. Please prepare the income statement for the December 31, 2012. Baba Repair Service Adjusted Trial Balance December 31, 2012 Debit Credit $1,600 2,400 800 200 14,000 Accounts Cash Accounts receivable Prepaid rent Supplies Building Accumulated depreciation Accounts payable Salary payable Unearned revenue D. Baba, capital D. Baba, drawing Service revenue Salary expense Rent expense Depreciation expense Supplies expense Total $2,000 4,200 1,000 800 6,000 1,000 50,000 121.000 114,000 8.500...
33) Using the adjusted trial balance below write the four closing entries necessary to prepare accounts...
33) Using the adjusted trial balance below write the four closing entries necessary to prepare accounts for the beginning of the next accounting period. DODSON CONTAINERS Adjusted Trial Balance December 31 $ 3,050 400 830 80 4,200 $ 1,100 98,000 28,000 115,000 880 1,400 2,200 Cash.... Accounts receivable.......... Prepaid insurance Office supplies ........... Office equipment Accumulated depreciation office equipment ... Buildings.. Accumulated depreciation—buildings.......... Land Wages Payable.............. Property taxes payable... Interest payable............. Unearned rent........... Long-term notes payable........... Common stock ........... •...
trial balance adjusting entries income owners equity cash flows balance sheet solve each page (Part 3)...
trial balance
adjusting entries
income
owners equity
cash flows
balance sheet
solve each page (Part 3)
Honors Accounting~Case 7.2 Part 1 JournalEntries 1 Cash 25,000 Briggs, capital Prepaid rent Cash Office supplies Cash Office furniture 25,000 5,400 5,400 900 900 8 4,800 4,800 Accounts payable Advertising expense Cash Accounts receivable Fees earned 10 250 250 12 850 850 15 Cash 350 350 Fees earned Insurance expense Cash 18 300 300 20 Cash 5,000 Unearned fees 5,000 21 Cash 200 200...
The adjusted trial balance of College Book Store as of November 30, 2016, after the firm's...
The adjusted trial balance of College Book Store as of November 30, 2016, after the firm's first month of operations, appears below. Appropriate adjustments have been made for the following items: a. Supplies used during the month, $4,300. b. Expired rent for the month, $5,500. c. Depreciation expense for the month, $2,150. Credit COLLEGE BOOK STORE Adjusted Trial Balance November 30, 2016 Account Name Debit 44,650 Cash Accounts Receivable 6,124 Supplies 6,200 33,000 Prepaid Rent 53.500 Equipment Accumulated Depreciation Equipment...
Given the adjusted trial balance, can you help me correct what I did wrong on my...
Given the adjusted trial balance, can you help me correct what I
did wrong on my statement of owners equity as well as fill in the
journal the correct way.
PS Music Adjusted Trial Balance July 31, 2019 Debit Credit Balances Balances 9,945 4,150 275 2,475 7,500 Cash Accounts Receivable Supplies Prepaid Insurancee Office Equipment Accumulated Depreciation-Office Equipment Accounts Payable Wages Payable Unearned Revenue Peyton Smith, Capital Peyton Smith, Drawing Fees Earned Music Expense Wages Expense Office Rent Expense Advertising...
In total, there are pages 5 and 6 to the journal and page 7 is
adjusting entries. there is also closing entries (part of the
journal), I do NOT need to enter ledger accounts, there is also an
unadjusted trial balance, adjusted trial balance, income statement,
statement of owners equity, balance sheet, and post-closing trial
balance.
This is what I have already:
The trial balances are wrong becayse my totals dont match and
im not sure why. The other financial...
Please provide the answer to all of the questions, I want to
match up my work. I have the incorrect adjusted and unadjusted
trial
Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 20Y5. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter. During May, Kelly Consulting entered into the following transactions: May 3 Received cash from clients as an advance payment for services to be provided and recorded it as...
Calculator Credit Use the adjusted trial balance below. Adjusted Trial Balance Account Title Debit Cash 26,000 Accounts Receivable 3,300 Prepaid Insurance 6,600 Supplies 1,200 Land 42,300 Equipment 5,700 Accumulated Depreciation Equipment Accounts Payable þwner, Capital pwner, Drawing 3,200 Service Fees Wages Expense 8,500 Supplies Expense 2,100 Utilities Expense 200 Insurance Expense 100 Depreciation Expense-Equipment 5,500 104,700 5,500 5,300 73,900 20,000 104,700 a. For each account, open a T account, title the account, and place its balance in it. Cash Accounts...
plzz adjusted trial balance, income statement and balance sheet
for question
End of Chapter Problem 4.6 The trial balance of Chelsea Elliott, marketing services provider, at 30 June 2015 was as follows: Chelsea Elliott, Marketing Services Unadjusted trial balance as at 30 June 2015 Account Debit Credit Cash at bank 57,940 Accounts receivable 22,130 GST receivable 2,650 Prepaid rent 2,140 Prepaid insurance 2,780 Office supplies 4,100 Office equipment 12,440 Accumulated depreciation - office equipment $2,520 Accounts payable 2,860 Unearned fees...
points) Below is the adjusted trial balance for Baba Repair Service. Please prepare the income statement for the December 31, 2012. Baba Repair Service Adjusted Trial Balance December 31, 2012 Debit Credit $1,600 2,400 800 200 14,000 Accounts Cash Accounts receivable Prepaid rent Supplies Building Accumulated depreciation Accounts payable Salary payable Unearned revenue D. Baba, capital D. Baba, drawing Service revenue Salary expense Rent expense Depreciation expense Supplies expense Total $2,000 4,200 1,000 800 6,000 1,000 50,000 121.000 114,000 8.500...
33) Using the adjusted trial balance below write the four closing entries necessary to prepare accounts for the beginning of the next accounting period. DODSON CONTAINERS Adjusted Trial Balance December 31 $ 3,050 400 830 80 4,200 $ 1,100 98,000 28,000 115,000 880 1,400 2,200 Cash.... Accounts receivable.......... Prepaid insurance Office supplies ........... Office equipment Accumulated depreciation office equipment ... Buildings.. Accumulated depreciation—buildings.......... Land Wages Payable.............. Property taxes payable... Interest payable............. Unearned rent........... Long-term notes payable........... Common stock ........... •...
trial balance
adjusting entries
income
owners equity
cash flows
balance sheet
solve each page (Part 3)
Honors Accounting~Case 7.2 Part 1 JournalEntries 1 Cash 25,000 Briggs, capital Prepaid rent Cash Office supplies Cash Office furniture 25,000 5,400 5,400 900 900 8 4,800 4,800 Accounts payable Advertising expense Cash Accounts receivable Fees earned 10 250 250 12 850 850 15 Cash 350 350 Fees earned Insurance expense Cash 18 300 300 20 Cash 5,000 Unearned fees 5,000 21 Cash 200 200...
The adjusted trial balance of College Book Store as of November 30, 2016, after the firm's first month of operations, appears below. Appropriate adjustments have been made for the following items: a. Supplies used during the month, $4,300. b. Expired rent for the month, $5,500. c. Depreciation expense for the month, $2,150. Credit COLLEGE BOOK STORE Adjusted Trial Balance November 30, 2016 Account Name Debit 44,650 Cash Accounts Receivable 6,124 Supplies 6,200 33,000 Prepaid Rent 53.500 Equipment Accumulated Depreciation Equipment...
Given the adjusted trial balance, can you help me correct what I
did wrong on my statement of owners equity as well as fill in the
journal the correct way.
PS Music Adjusted Trial Balance July 31, 2019 Debit Credit Balances Balances 9,945 4,150 275 2,475 7,500 Cash Accounts Receivable Supplies Prepaid Insurancee Office Equipment Accumulated Depreciation-Office Equipment Accounts Payable Wages Payable Unearned Revenue Peyton Smith, Capital Peyton Smith, Drawing Fees Earned Music Expense Wages Expense Office Rent Expense Advertising...
Most questions answered within 3 hours.
-
This is QA Tester's task
What was the most heinous bug that you let slip through?...
asked 9 minutes ago -
What is the chemical equation (with states) for this
reaction in balanced and unbalanced form?
In...
asked 13 minutes ago -
In engineering and product design, it is important to consider
the weights of people so that...
asked 18 minutes ago -
The first-order decomposition of N2O5 at 328 K has a rate
constant of 1.70 × 10-3...
asked 20 minutes ago -
Do you believe that some things that fall into the category of
“pseudoscience” are worth believing...
asked 42 minutes ago -
A 0.100-kg, 59.6-cm-long uniform bar has a small 0.070-kg mass
glued to its left end and...
asked 34 minutes ago -
Direct Labor Variances
The following data relate to labor cost for production of 4,600
cellular telephones:...
asked 48 minutes ago -
On July 27, 2018, shareholders of the Walt Disney Company and
21st Century Fox agreed to...
asked 26 minutes ago -
Write a brief response, 30-90-words, for each question below. 1.
In your own words, define “Auditing.”...
asked 31 minutes ago -
Water flows through a 8-foot wide and 4-foot tall rectangular
channel. If the desired flow rate...
asked 38 minutes ago -
Cruz Video Center accumulates the following cost and net
realizable data at December 31.
Cameras $14,700...
asked 42 minutes ago -
1. Describe the differences between management in the nonprofit
sector and management in other sectors. How...
asked 49 minutes ago