Alert Security Services Co. offers security services to business clients. The adjusted trial balance is presented below.
Alert Security Services Co. |
End-of-Period Spreadsheet |
For the Year Ended October 31, 2016 |
1 |
Adjusted |
Adjusted |
|||||
2 |
Trial Balance |
Trial Balance |
Income Statement |
Income Statement |
Balance Sheet |
Balance Sheet |
|
3 |
Debit |
Credit |
Debit |
Credit |
Debit |
Credit |
|
4 |
Cash |
12.00 |
|||||
5 |
Accounts Receivable |
103.00 |
|||||
6 |
Supplies |
4.00 |
|||||
7 |
Prepaid Insurance |
2.00 |
|||||
8 |
Land |
190.00 |
|||||
9 |
Equipment |
50.00 |
|||||
10 |
Accumulated Depreciation-Equipment |
7.00 |
|||||
11 |
Accounts Payable |
36.00 |
|||||
12 |
Wages Payable |
1.00 |
|||||
13 |
Brenda Schultz, Capital |
260.00 |
|||||
14 |
Brenda Schultz, Drawing |
8.00 |
|||||
15 |
Fees Earned |
213.00 |
|||||
16 |
Wages Expense |
111.00 |
|||||
17 |
Rent Expense |
12.00 |
|||||
18 |
Insurance Expense |
10.00 |
|||||
19 |
Utilities Expense |
6.00 |
|||||
20 |
Supplies Expense |
4.00 |
|||||
21 |
Depreciation Expense |
3.00 |
|||||
22 |
Miscellaneous Expense |
2.00 |
|||||
23 |
$517.00 |
$517.00 |
|||||
24 |
Net income (loss) |
||||||
25 |
Prepare an income statement, statement of owner’s equity, and balance sheet for Alert Security Services Co. (Note: Be sure to read the instructions for each financial statement carefully.)
Labels and Amount Descriptions
Labels | |
Current assets | |
Current liabilities | |
Expenses | |
For the Year Ended October 31, 2016 | |
October 31, 2016 | |
Property, plant, and equipment | |
Revenues | |
Amount Descriptions | |
Add withdrawals | |
Brenda Schultz, capital, November 1, 2015 | |
Brenda Schultz, capital, October 31, 2016 | |
Decrease in owner’s equity | |
Increase in owner’s equity | |
Less withdrawals | |
Net income | |
Net loss | |
Total assets | |
Total current assets | |
Total expenses | |
Total liabilities | |
Total liabilities and owner’s equity | |
Total property, plant, and equipment | |
Total revenues |
Alert Security Services Co. | |||||
Income Statement | - | ||||
For the Year Ended October 31st,2016 | |||||
Fees Earned=(A) | $ 213.00 | ||||
Expenses | |||||
Wages Expense | $ 111.00 | ||||
Rent Expense | $ 12.00 | ||||
Insurance Expenses | $ 10.00 | ||||
Utilities Expense | $ 6.00 | ||||
Supplies | $ 4.00 | ||||
Depreciation Expenses | $ 3.00 | ||||
Miscellaneous Expenses | $ 2.00 | ||||
Total Expenses=(B) | $ 148.00 | ||||
Net Income=(A)-(B) | $ 65.00 | ||||
Alert Security Services Co. | |||||
Statement of Owner's Equity | |||||
For the Year Ended October 31st,2016 | |||||
Beginning Balance | $ 260.00 | ||||
Add: Net Income | $ 65.00 | ||||
Less: Drawings | $ 8.00 | ||||
Ending Balance | $ 317.00 | ||||
Alert Security Services Co. | |||||
Balance Sheet | |||||
For the Year Ended October 31st,2016 | |||||
Assets | |||||
Cash | $ 12.00 | ||||
Accounts Receivable | $ 103.00 | ||||
Supplies | $ 4.00 | ||||
Prepaid Insurance | $ 2.00 | ||||
Land | $ 190.00 | ||||
Equipment | $ 50.00 | ||||
Accumulated Depreciation-Equipment | $ -7.00 | ||||
Total Assets | $ 354.00 | ||||
Liabilities & Stockholder's equity | |||||
Liabilities | |||||
Accounts Payable | $ 36.00 | ||||
Wages Payable | $ 1.00 | ||||
Total Liability | $ 37.00 | ||||
Owner's Equity | |||||
Brenda Schultz Capital | $ 317.00 | ||||
Total Equity | $ 317.00 | ||||
Total Liabilities & Stockholder's Equity | $ 354.00 | ||||
Alert Security Services Co. offers security services to business clients. The adjusted trial balance is presented...
Appendix: Adjustment Data on an End-of-Period Spreadsheet Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has been prepared on the following end-of-period spreadsheet for the year ended October 31, 2019. In addition, the data for year- end adjustments are as follows: a. Fees earned, but not yet billed, $26. b. Supplies on hand, $7. c. Insurance premiums expired, $33. d. Depreciation expense, $13. e. Wages accrued, but not paid, $13....
Closing entries from an end-of-period spreadsheet Instructions Chart of Accounts Journal Instructions Alert Security Services Co. offers security services to business clients. Based on the end-of-period spreadsheet, prepare the two closing entries for Alert Security Services Co. Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 2019 Adjusted Adjusted Income Trial Balance Trial Balance Incon Staten 2 Statement Account Title Debit Credit 3 Debit Cred 4 Cash 18.00 5 Accounts Receivable 101.00 7.00 6 Supplies 7 Prepaid...
please do this as soon as possible it would mean a lot! thank you
so much in advance
inancial statements from an end-of-period spreadsheet Instructions Labels and Amount Descriptions Income Statement Statement of Owner's Equity Balance Sheet Instructions 2 Trial Balance Trial Balance Income Statement Balance Sheet Balance Sheet Income Statement Credit 3 Account Title Debit Credit Debit Debit Credit 4 Cath 12.00 5 Accounts Receivable 102.00 6 Supplies 3.00 1 Prepaid Insurance 200 8 Land 186.00 55.00 9.00 35.00...
Appendix 1: Completing an End-of-Period Spreadsheet Alert Security Services Co. offers security services to business clients. Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 20Y3 Adjusted Trial Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 329 Accounts Receivable 2,411 Supplies 110 Prepaid Insurance 82 Land 2,740 Equipment 1,096 Accum. Depr.—Equipment 219 Accounts Payable 986 Wages Payable 110 Common Stock 40 Retained Earnings 4,729 Dividends 219 Fees Earned 2,685 Wages Expense...
l
Alert Security Services Co. Statement of Owner's Equity For the Year Ended October 31, 2019 Brenda Schultz, capital, November 1, 2018 260 Net income Withdrawals ✓ Increase in owner's equity 36 Brenda Schultz, capital, October 31, 2 317
Closing entries from an end-of-period spreadsheet Instructions Chart of Accounts Journal Instructions 2 Trial Balance Trial Balance Income Statement Balance Sheet В. Income Statement Credith 3 Account Title Debit Credit Debit Debit 4 Cash 18.00 $ Accounts Receivable 105.00 6 Supplies 5.00 7 Prepaid Insurance 4.00 8 Land 200.00 50.00 12.00 Equipment 10 Accumulated Depreciation-Equipment 11 Accounts Payable 12 Wages Payable 13 Brenda Schultz, Capital 14 Brenda Schultz, Drawing 36.00 200 258.00 6.00 15 Fees Earned 224.00 109.00 10.00 8.00...
Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 20Y3 Adjusted Trial Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 494 Accounts Receivable 3,626 Supplies 165 Prepaid Insurance 124 Land 4,120 Equipment 1,648 Accum. Depr.-Equipment 330 Accounts Payable 1,483 Wages Payable 165 Common Stock 40 Retained Earnings 7,128 Dividends 330 Fees Earned 4,038 Wages Expense 989 Rent Expense 494 Insurance Expense 412 Utilities Expense 288 Supplies Expense 247 Depreciation Expense-Equip. 165...
Appendix 1: Adjustment Data on an End-of-Period Spreadsheet Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services has been prepared on the following end-of-period spreadsheet for the year ended October 31, 20Y3: Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 20Y3 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 81 Accounts Receivable 216 Supplies 22 Prepaid Insurance 32 Land 270...
Appendix 1: Adjustment Data on an End-of-Period Spreadsheet Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has been prepared on the end-of-period spreadsheet for the year ended October 31, 2018, shown below. Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 2018 Unadjusted Trial Balance Adjustments Dr. Cr. Dr. Cr. 66 Adjusted Trial Balance Dr. Cr. Account Title Cash Accounts Receivable Supplies 176 Prepaid Insurance Land Equipment...
ppendix 1: Closing Entries From an End-of-Period Spreadsheet Alert Security Services Co. offers security services to business dients. Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 2018 Adjusted Trial Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr Dr Cr. 314 2,306 105 79 2,620 1,048 Cash Accounts Receivable Supplies Prepaid Insurance Land Equipment Accum. Depr. Equipment Accounts Payable Wages Payable Common Stock 210 943 105 80 4,478 Retained Earnings Dividends 210 fees Earned...