Need help to prepare a trial balance using these amounts. At the end of the period, XYZ com has the following balances:...
Need help to prepare a trial balance using these amounts.
At the end of the period, XYZ com has the following balances:
Cash K550, 000 Accounts Receivable K117, 000 Inventory K84, 000 Prepaid Expenses K4, 800 Equipment K245, 000 Depreciation K49, 000 Accounts Payable K125, 000 Loans Payable K361, 300 Net Profit K465, 500
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Need help to prepare a trial balance using these amounts. At the end of the period, XYZ com has the following balances:...
PSA3.2 Prepare adjusting entries, post to ledger accounts, and prepare adjusted trial balance. L0...
PSA3.2 Prepare adjusting entries, post to ledger accounts, and prepare adjusted trial balance. L03, 4, 5 The unadjusted trial balance at 30 June 2020 for Maxi Services Ltd is as follows MAXI SERVICES LTD Trial balance as at 30 June 2020 No. Account name Debit Credit 100 Cash 104 Accounts receivable 112 Prepaid insurance 113 Supplies 130 Office equipment 131 Accumulated depreciation 200 Accounts payable 213 Service revenue received in advance 300 Share capital 310 Retained earnings 400 Service revenue...
Prepare a fully classified Income Statement using the Trial Balance provided for the period in question....
Prepare a fully classified Income Statement
using the Trial Balance provided for the period in question.
Ms Daphne Blake is the sole proprietor of 'Sunset, a beach shade sale and hire business specialising in beach tents. She is also a good friend of Fred Jones and often refers customers who are holidaying in the area to the 'Shore Read'. The following Trial Balance for 'Subsetz has been prepared at peaceod by Ms Blake who likes to keep a hand in...
Blitz Pty Ltd has the following accounts and balances listed in its trial balance. Assuming all...
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2.17 (LO 4) AP Use the ledger balances that follow to prepare a trial balance for...
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Instructions Using the information in the adjusted trial balance, do the following (a) Prepare an income statement and a retained earnings statement for the 2 months ended December 31, 2017, and a classified statement of financial position at December 31, 2017. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2019. (b) Mei-ling has decided that her year end will be December 31, 2017. Prepare closing entries as of...
Instructions: Below is the adjusted trial balance for Bear Advertising Inc. (1) Prepare an Income Statement....
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Instructions Using the information in the adjusted trial balance, do the following. (a) Prepare an income sta...
Instructions Using the information in the adjusted trial balance, do the following. (a) Prepare an income statement and a retained earnings statement for the 2 months ended December 31, 2017, and a classified statement of financial position at December 31, 2017. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2019. (b) Mei-ling has decided that her year-end will be December 31, 2017. Prepare closing entries as of December...
Using the following information, prepare a trial balance. Assume all asset, dividend, and expense accounts have...
Using the following information, prepare a trial balance. Assume all asset, dividend, and expense accounts have debit balances and all liability, stockholders' equity, and revenue accounts have credit balances. List the accounts in the following order: assets, liabilities, stockholders' equity, dividends, revenues, and expenses. Cash Salaries Payable Prepaid Rent Accounts Payable Retained Earnings Salaries Expense $6,050 600 800 1,950 1,750 2,900 Dividends Rent Expense Accounts Receivable Common Stock Service Revenue Advertising Expense $ 400 1,950 4,300 6,100 7,000 1,000 Trial...
PSA3.2 Prepare adjusting entries, post to ledger accounts, and prepare adjusted trial balance. L03, 4, 5 The unadjusted trial balance at 30 June 2020 for Maxi Services Ltd is as follows MAXI SERVICES LTD Trial balance as at 30 June 2020 No. Account name Debit Credit 100 Cash 104 Accounts receivable 112 Prepaid insurance 113 Supplies 130 Office equipment 131 Accumulated depreciation 200 Accounts payable 213 Service revenue received in advance 300 Share capital 310 Retained earnings 400 Service revenue...
Prepare a fully classified Income Statement
using the Trial Balance provided for the period in question.
Ms Daphne Blake is the sole proprietor of 'Sunset, a beach shade sale and hire business specialising in beach tents. She is also a good friend of Fred Jones and often refers customers who are holidaying in the area to the 'Shore Read'. The following Trial Balance for 'Subsetz has been prepared at peaceod by Ms Blake who likes to keep a hand in...
Syner-U Company Adjusted Trial Balance Year ending December 31, 2016 Balances 9,200 5,700 5,000 5,700 22,000 Accounts payable Accounts receivable Accumulated depreciation - equipment Shipping expenses Cash Owner's capital (1/1/16) Owner's drawings Depreciation expense Insurance expense Loans payable, due 12/15/18 Note payable, due 6/30/17 Prepaid insurance (12-month policy) 3,805 540 970 125 13,400 9,760 600 Rent expense 380 4200 21,000 800 Salaries and wages expense Revenues Supplies Utilities expense Equipment Unearned revenue 1,000 25,000 650 What is the company's net...
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Instructions: Below is the adjusted trial balance for Bear Advertising Inc. (1) Prepare an Income Statement. Sement of Retained Earnings anda Balance Sheet (2) Then pecare closing trics, pou them to accounts, and prepare a posl-closing trial balance The heverining in Income Statement 1000 Advance De 000 40 4000 15000 0 21500 Cowok Paired Earns Advertising Decatione We spend www.pw Supo LE 300 Statement of Retained Eamings 845196 545165 General Joumai PR Debt Balance Sheet Date Account Credit Cash Accounts...
Instructions Using the information in the adjusted trial balance, do the following. (a) Prepare an income statement and a retained earnings statement for the 2 months ended December 31, 2017, and a classified statement of financial position at December 31, 2017. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2019. (b) Mei-ling has decided that her year-end will be December 31, 2017. Prepare closing entries as of December...
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