7-1 APPLICATION PROBLEM Preparing an income statement A form is given below. The following information is...
7-1 APPLICATION PROBLEM İtamar AUTOMATED ACCOUNTIHG Preparing an income statement A form is given in the Working Papers. The following information is obtained from the work sheet of Len's Laundry for the month ended August 31 of the current year. INCOME STATEMENT BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT Sales 6 23300 12 Advertising Expense 80000 20000 31500 45000 1495 00 12 Insurance Expense Miscellaneous Expense Supplies Expense Utilities Expense 4 326000 623300 1043600 746300 17 29 73008 623300...
8-2 APPLICATION PROBLEM Journalizing and posting closing entries Use the journal and general ledger accounts for Len's Laundry below. A partial work sheet for the month ended April 30 of the current year is shown below. BALANCE SHEET Cash a Accounts Recelvable-Natasha Goodlad - Accounts RecelvableR Henry " Supplies 760700 49800 43100 20000 Prepaid Insurance . Accounts Payable-Tri-County Supplies ' Accounts Payable West End Supply Co. -- tt-t- 38100 55500 6 52700 Leonard Long, Capital Leonard Long, Drawing , 1...
7-2 APPLICATION PROBLEM Preparing a balance sheet A form is given below. The following information is obtained from the work sheet of Len's Laundry for the month ended August 31 of the current year. ACCOUNT TITLE BALANCE SHEET DEBIT CREDIT Cash Accts. Rec.-Natasha Goodlad Accts. Rec.-R. Henry Supplies 760700 70000 49800 43 100 20000 s Prepald Insurance Acts. Pay-Tri-County Supplies Accts. Pay-West End Supply Co. 38 100 55500 7 65 2700 8 이 Leonard Long, Capital 이 Leonard Long, Drawing...
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7-2 APPLICATION PROBLEM Preparing a balance sheet A form is given below. The following information is obtained from the work sheet of Len's Laundry for the month ended August 31 of the current year. BALANCE SHEET ACCOUNT TITLE CREDIT DEBIT 60 700 70000 Cash Accts. Rec.-Natasha Goodlad Accts. Rec-R. Henry Supplles 49800 43 100 20000 sPrepaid Insurance 3 8100 Accts. Pay-TH-County Supplies Accts. Pay-West End Supply Co....
8-1 APPLICATION PROBLEM Journalizing and posting adjusting entries A journal and general ledger accounts for Len's Laundry are given below. A partial work sheet for the month ended April 30 of the current year is shown below. ADJUSTMENTS ACCOUNT TITLE DEBIT CREDIT (a) 45000 )200o0 Supplies Prepald Insurance Insurance Expense Supplles Expense ) 20000 14 Miscellaneous Expense a)45000 Use page 12 of the journal. Journalize and post the adjusting entries. 1. Application Problem 8-1 Aa Aa Page 12 JOURNAL Doc.Post....
8-3 APPLICATION PROBLEM Preparing a post-closing trial balance Use the general ledger accounts for Len's Laundry below. A form to complete a post-closing trial balance is given below Prepare a post-closing trial balance for Len's Laundry on April 30 of the current year. NOCOUNT Cash OCOUNT NO 110 c Accounts Receivable Natasha Goodlad Apr 30 Balance Apr 30 Balance c Accounts Receivable-R. Henry MOCOUNT NO 140 ies GCOUNT NO 150 EALANG ApT.30 Balance Apr 30 Balance G12 45 010에 1431|...
PROBLEM 1 -Worksheet The worksheet for Gibler Rental Company appears below. Using the adjustment data below, complete the worksheet. Add any accounts that are necessary. Adjustment data: A physical count of supplies indicates $3 on hand at August 31. The amount of insurance that expired in the month of August was $2. Depreciation on equipment for August was $5. Interest accrued on the note payable was $1. GIBLER RENTAL COMPANY Worksheet For the Month Ended August 31, 2010 Trial Balance...
Assignment:
1) complete the accountants worksheet excel (pictured below)
2) on a separate sheet, INCOME STATEMENT
3) on a separate sheet, RETAINED EARNINGS
4) on a separate sheet, BALANCE SHEET
5) on a separate sheet, ADJUSTING/CLOSING ENTRIES
6) POST CLOSING TRIAL BALANCE*
Income Statement Debit Credit R. E. Statement Debit Credit Balance Sheet Debit Credit Unadjusted Trial Bal. Debit Credit 37,000 18,600 31,900 80,000 120,000 36,200 14,200 GWS Incorporated Accountant's Worksheet For the Month Ended September 30, 2010 Adjustments Adjusted...
6. Use the following accounts and information to prepare, in good form, an income statement and a retained earnings statement for the month of August and a balance sheet at August 31, 2014 for Pierce Industries. Accounts payable Accounts receivable Buildings Cash Service revenue Common stock $ 1,100 5,400 63,000 18,600 25,700 52,000 Dividends Insurance expense Supplies Notes payable Rent expense Salaries and wages expense $3,000 1,200 1,400 3,300 3,400 12,000 25,900 Retained earnings (beginning) END
Problem 2.4A (Static) Preparing an income statement, a statement of owner's equity, and a balance sheet. LO 2-4, 2-5 The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton + + Assets Accts. Rec. + Supp. + Equip. 3,000 + 5,800 + 33,800 Liab. Accts. Pay. 7, eee Owner's Equity T. Cotton, + Capital Rev. se,600 + + + Cash 15,000 980 14,020 + 4,980 19,00 Exp. @ + 980 980...