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6. (10 points) Preparing financial statements from an adjusted trial balance. North Star Inc. Adjusted Trial...
6. (20 points) Preparing financial statements from an adjusted trial balance North Star Inc. Adjusted Trial...
6. (20 points) Preparing financial statements from an adjusted trial balance North Star Inc. Adjusted Trial Balance 31-Dec-18 185,000 Allowance for Doubtl Accounts Inventory (as of 12/31/18) Supplies Equipment 2,400 275,000 355,000 27s… Building Accumulated Deperciatbn- Building 195,000 29,500 Accounts Payable Salaries and Wages Payable $O.10 Common Stock APIC Retained Earnings 145,000 Selling Expenses Administratve Expenses Income Tax Expense 289,300 s 245,000 $ 286,000 75,000 52,049,950 EXCEL >Use of EXCEL is required. Create your own EXCEL file to complete the...
6. (10 points) Preparing financial statements from an adjusted trial balance. North Star Inc. Adjusted Trial...
6. (10 points) Preparing financial statements from an adjusted trial balance. North Star Inc. Adjusted Trial Balance 31-Dec-18 Debit Credit 185,000 14,250 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory (as of 12/31/18) Supplies Equipment Accumulated Deperciatbn - Equipment Building Accumulated Deperciatbn- Building Land Accounts Payable Salaries and Wages Payable Mortgage Payable Common Stock $0.10 APIC Retained Earnings Sales Revenue COGS Selling Expenses Administrative Expenses Income Tax Expense 48,000 2,400 275,000 180,000 355,000 195,000 275,000 29,500 4,500 125,000 1,000 145,000...
E3-39. Preparing Financial Statements and Closing Procedures Solomon Corporation's adjusted trial balance for the year ending...
E3-39. Preparing Financial Statements and Closing Procedures Solomon Corporation's adjusted trial balance for the year ending December 31, 2018, is: SOLOMON CORPORATION Adjusted Trial Balance December 31, 2018 Debit Credit $ 4,000 6,500 78,000 .. Cash.. Accounts receivable Equipment Accumulated depreciation Notes payable. Common stock Rotainod earnings Service fees revenue Rent expense... Salaries expense Depreciation expense. Totals $ 14,000 10,000 43.000 12,600 71,000 18,000 37.100 7,000 $150,600 $150,600 a. Prepare its income statement and statement of stockholders' equity for the...
We were unable to transcribe this imageInstructions Using the information in the adjusted trial balance, do...
We were unable to transcribe this imageInstructions 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....
Requirements 5 and 6 only. Learning Objectives P-F:4-29A Preparing financial statements including a classified balance sheet...
Requirements 5 and 6 only.
Learning Objectives P-F:4-29A Preparing financial statements including a classified balance sheet in report form, preparing and posting closing entries, and preparing a post-closing trial balance The adjusted trial balance of Erickson Real Estate Appraisal at June 30, 2024, follows: 1. Net Loss $(9,500) I ERICKSON REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2024 Balance Account Title Debit Credit Cash $ 4,600 Accounts Receivable 5,300 Office Supplies 1,500 Prepaid Insurance 1,700 Land 13,000 Building 82,000...
GLS Complete worksheet, prepare financial statements, closing entries, and post-closing trial balance (L01 2.4 The adjusted...
GLS Complete worksheet, prepare financial statements, closing entries, and post-closing trial balance (L01 2.4 The adjusted trial balance columns of the worksheet for Alshwer Company are as follows. Dr. Account No. 101 112 126 130 157 ALSHWER COMPANY Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Cr. Cash 5.300 Accounts Receivable 10.800 Supplies 1,500 Prepaid Insurance 2.000 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 15,000 Accounts Payable 6.100 Salaries and Wages Payable 2,400 Interest...
No. Cr. . The adjusted trial balance for Zahurak Company follows. Adjusted Trial Balance December 31,...
No. Cr. . The adjusted trial balance for Zahurak Company follows. Adjusted Trial Balance December 31, 2018 Account Title Dr. 101 Cash $ 6,500 106 Accounts receivable 28,405 153 Trucks 39,500 154 Accumulated depreciation-Trucks 15,879 183 Land 30,000 201 Accounts payable 15,145 209 Salaries payable 3,465 233 Unearned fees 2,865 307 Common stock 15,000 Retained earnings, December 31, 318 2017 47,700 319 Dividends 26,076 401 Plumbing fees earned 94,000 611 Depreciation expense-Trucks 5,293 622 Salaries expense 43,992 640 Rent expense...
P3-8A Financial Statements and Closing Entries The adjusted trial balance shown below is for Sharpe Consulting...
P3-8A Financial Statements and Closing Entries The adjusted
trial balance shown below is for Sharpe Consulting Service as of
December 31. Bryan Sharpe made no capital contributions during the
year. Please see attached picture for further details. Need
guidance for answering questions in excel. Thank you.
Cambridge Business Publishers Chapter 3 Accrual Basis of Accounting 1 Cash............. Accounts receivable... Supplies ... Prepaid insurance. ...... Equipment ............ Accumulated depreciation Equipment Accounts payable...... Long-term notes payable .. Common stock .... Retained earnings...
(22 points total) Following is an adjusted trial balance for Over Armour, Inc., a manufacturer of...
(22 points total) Following is an adjusted trial balance for Over Armour, Inc., a manufacturer of athletic gear, as of December 31 (year end). The trial balance is sorted alphabetically by account name. Your task is to prepare a Balance Sheet and a Statement of Retained Earnings in proper form. Remember that a classified balance sheet separates current and long-term assets as well as liabilities. You do not have to prepare an income statement: the Net Income for the year...
Test 11 Chapters 1-3 NOT Proctored Problem 3-5A Preparing financial statements from the adjusted trial balance...
Test 11 Chapters 1-3 NOT Proctored Problem 3-5A Preparing financial statements from the adjusted trial balance and computing profit margin LO P3, A1, A2 36 The following information applies to the questions displayed below] The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Credit $ 125,00 Accounts receivable receivable (due in a days) 19.000 170,000 17.00 Accumulated depreciation-utomobiles Equipment Accumulated depreciation Equipment 100.000 Interest payable notes payable 32.00 142.000 25,580 24,00 Depreciation expense-quipment Bagair expense Automobiles...
6. (20 points) Preparing financial statements from an adjusted trial balance North Star Inc. Adjusted Trial Balance 31-Dec-18 185,000 Allowance for Doubtl Accounts Inventory (as of 12/31/18) Supplies Equipment 2,400 275,000 355,000 27s… Building Accumulated Deperciatbn- Building 195,000 29,500 Accounts Payable Salaries and Wages Payable $O.10 Common Stock APIC Retained Earnings 145,000 Selling Expenses Administratve Expenses Income Tax Expense 289,300 s 245,000 $ 286,000 75,000 52,049,950 EXCEL >Use of EXCEL is required. Create your own EXCEL file to complete the...
6. (10 points) Preparing financial statements from an adjusted trial balance. North Star Inc. Adjusted Trial Balance 31-Dec-18 Debit Credit 185,000 14,250 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory (as of 12/31/18) Supplies Equipment Accumulated Deperciatbn - Equipment Building Accumulated Deperciatbn- Building Land Accounts Payable Salaries and Wages Payable Mortgage Payable Common Stock $0.10 APIC Retained Earnings Sales Revenue COGS Selling Expenses Administrative Expenses Income Tax Expense 48,000 2,400 275,000 180,000 355,000 195,000 275,000 29,500 4,500 125,000 1,000 145,000...
E3-39. Preparing Financial Statements and Closing Procedures Solomon Corporation's adjusted trial balance for the year ending December 31, 2018, is: SOLOMON CORPORATION Adjusted Trial Balance December 31, 2018 Debit Credit $ 4,000 6,500 78,000 .. Cash.. Accounts receivable Equipment Accumulated depreciation Notes payable. Common stock Rotainod earnings Service fees revenue Rent expense... Salaries expense Depreciation expense. Totals $ 14,000 10,000 43.000 12,600 71,000 18,000 37.100 7,000 $150,600 $150,600 a. Prepare its income statement and statement of stockholders' equity for the...
We were unable to transcribe this imageInstructions 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....
Requirements 5 and 6 only.
Learning Objectives P-F:4-29A Preparing financial statements including a classified balance sheet in report form, preparing and posting closing entries, and preparing a post-closing trial balance The adjusted trial balance of Erickson Real Estate Appraisal at June 30, 2024, follows: 1. Net Loss $(9,500) I ERICKSON REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2024 Balance Account Title Debit Credit Cash $ 4,600 Accounts Receivable 5,300 Office Supplies 1,500 Prepaid Insurance 1,700 Land 13,000 Building 82,000...
GLS Complete worksheet, prepare financial statements, closing entries, and post-closing trial balance (L01 2.4 The adjusted trial balance columns of the worksheet for Alshwer Company are as follows. Dr. Account No. 101 112 126 130 157 ALSHWER COMPANY Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Cr. Cash 5.300 Accounts Receivable 10.800 Supplies 1,500 Prepaid Insurance 2.000 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 15,000 Accounts Payable 6.100 Salaries and Wages Payable 2,400 Interest...
No. Cr. . The adjusted trial balance for Zahurak Company follows. Adjusted Trial Balance December 31, 2018 Account Title Dr. 101 Cash $ 6,500 106 Accounts receivable 28,405 153 Trucks 39,500 154 Accumulated depreciation-Trucks 15,879 183 Land 30,000 201 Accounts payable 15,145 209 Salaries payable 3,465 233 Unearned fees 2,865 307 Common stock 15,000 Retained earnings, December 31, 318 2017 47,700 319 Dividends 26,076 401 Plumbing fees earned 94,000 611 Depreciation expense-Trucks 5,293 622 Salaries expense 43,992 640 Rent expense...
P3-8A Financial Statements and Closing Entries The adjusted
trial balance shown below is for Sharpe Consulting Service as of
December 31. Bryan Sharpe made no capital contributions during the
year. Please see attached picture for further details. Need
guidance for answering questions in excel. Thank you.
Cambridge Business Publishers Chapter 3 Accrual Basis of Accounting 1 Cash............. Accounts receivable... Supplies ... Prepaid insurance. ...... Equipment ............ Accumulated depreciation Equipment Accounts payable...... Long-term notes payable .. Common stock .... Retained earnings...
(22 points total) Following is an adjusted trial balance for Over Armour, Inc., a manufacturer of athletic gear, as of December 31 (year end). The trial balance is sorted alphabetically by account name. Your task is to prepare a Balance Sheet and a Statement of Retained Earnings in proper form. Remember that a classified balance sheet separates current and long-term assets as well as liabilities. You do not have to prepare an income statement: the Net Income for the year...
Test 11 Chapters 1-3 NOT Proctored Problem 3-5A Preparing financial statements from the adjusted trial balance and computing profit margin LO P3, A1, A2 36 The following information applies to the questions displayed below] The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Credit $ 125,00 Accounts receivable receivable (due in a days) 19.000 170,000 17.00 Accumulated depreciation-utomobiles Equipment Accumulated depreciation Equipment 100.000 Interest payable notes payable 32.00 142.000 25,580 24,00 Depreciation expense-quipment Bagair expense Automobiles...
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