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5-11. Financial Statements. From an adjusted trial balance, you are given the following accounts in alphabetical order. On the columnar papers following, create a multi-step Income Statement, a Statement of Retained Earnings, and a classified Balance Sheet in good form. Your Tum, Inc. Account Listing For the year ended June 30, 2027 8,562 18,128 6,000 12,300 500 50,000 74.729 83,950 I Accounts Payable Accounts Receivable Accumulated Depreciation: Truck Additional Paid-In Capital Amortization Expense Bonds Payable Cash Common Stock Cost of...
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Following are the accounts and balances (in random order) from the adjusted trial balance of Stark Company $ 11,000 2,5ee 500 1,500 Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Retained earnings Services revenue Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 15,000 4,000 1,300 100 800 2ee 40,000 3,000 2,000 800 10,000 7,500 1,800 10,000 14,800 20,000 Prepare the (1)...
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Following are the accounts and balances (in random-order from the adjusted trial balance of Stark Company. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash $ 11,000 2,500 See 1,500 400 10,000 7,5ee 1,800 10,eee 14,800 2e, eee Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 15,000 4,000 1,300 100 Bee 200 40,ce 3,000 2,80 800 Wages expense Insurance expense Common stock Retained earnings Services revenue Prepare the...
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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...
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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...
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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 Accounts Receivable Allowance for Doubtful Accounts Inventory (as of 12/31/18) Supplies Equipment Accumulated Deperciatbn - Equipment Building Accumulated Deperciaton- Building Land Accounts Payable Salaries and Wages Payable Mortgage Payable Common Stock$0.10 APIC Retained Earnings Sales Revenue coss Selling Expenses Administratve Expenses Income Tax Expense 48,000 2,400 275,000 180,000 195,000 29,500 355,000 275,000 125,000 1,000 145,000 84,000 289,300 245,000...
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Preparation of financial statements
Using the Adjusted Trial Balance shown below, prepare
the company’s:
(a) Income Statement
(b) Statement of Retained
Earnings
(c) Balance Sheet
by completing the tables provided on the following
pages.
Repair Shop
Adjusted Trial Balance
Dec. 31, 2016
Debit
Credit
Cash
$ 30,000
Supplies
2,000
Accounts Receivable
70,000
Equipment
30,000
Accumulated Depreciation on Equipment
$ 10,000
Accounts Payable
20,000
Notes Payable
5,000
Income Taxes Payable
20,000
Capital Stock
30,000
Retained Earnings (as of Jan 1,
2016)...
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Given the adjusted trial balance shown below:
1) Prepare a multi-step income statement
2) a statement of retained earnings
3) Prepare a classified balance sheet in horizontal format
Dr 155,000 35,000 3,750 6,000 2,000 7,000 10,000 100,000 54,000 25,000 10,000 75,000 Big, Inc. Adjusted Trial Balance For the year ended 12/31/16 Account Cash Accounts Receivable 5 Allowance for Doubtful Accounts Prepaid Insurance Prepaid Property Taxes Inventory Loan Receivable Building A/D - Building Equipment A/D - Equipment Investments - Accounts Payable...
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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...
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how
do i switch my adjusted trial balance sheet to financial statements
(income statement, statement of stockholders equity, and classified
balance sheet) and how do i do the retained earnings of this
account?
А C D E F B Adjusted Trial Balance WN 4 Credit Debit $ 10,100 $ 2,800 $ 90 $ 550 $ 3,600 $ $ $ $ 60 130 480 10,500 5 6 Cash 7 Accounts Receivables 8 Supplies 9 Prepaid Insurance 10 Equipment 11 Accumulated Depreciation...
5-11. Financial Statements. From an adjusted trial balance, you are given the following accounts in alphabetical order. On the columnar papers following, create a multi-step Income Statement, a Statement of Retained Earnings, and a classified Balance Sheet in good form. Your Tum, Inc. Account Listing For the year ended June 30, 2027 8,562 18,128 6,000 12,300 500 50,000 74.729 83,950 I Accounts Payable Accounts Receivable Accumulated Depreciation: Truck Additional Paid-In Capital Amortization Expense Bonds Payable Cash Common Stock Cost of...
Following are the accounts and balances (in random order) from the adjusted trial balance of Stark Company $ 11,000 2,5ee 500 1,500 Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Retained earnings Services revenue Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 15,000 4,000 1,300 100 800 2ee 40,000 3,000 2,000 800 10,000 7,500 1,800 10,000 14,800 20,000 Prepare the (1)...
Following are the accounts and balances (in random-order from the adjusted trial balance of Stark Company. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash $ 11,000 2,500 See 1,500 400 10,000 7,5ee 1,800 10,eee 14,800 2e, eee Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 15,000 4,000 1,300 100 Bee 200 40,ce 3,000 2,80 800 Wages expense Insurance expense Common stock Retained earnings Services revenue Prepare 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...
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 Accounts Receivable Allowance for Doubtful Accounts Inventory (as of 12/31/18) Supplies Equipment Accumulated Deperciatbn - Equipment Building Accumulated Deperciaton- Building Land Accounts Payable Salaries and Wages Payable Mortgage Payable Common Stock$0.10 APIC Retained Earnings Sales Revenue coss Selling Expenses Administratve Expenses Income Tax Expense 48,000 2,400 275,000 180,000 195,000 29,500 355,000 275,000 125,000 1,000 145,000 84,000 289,300 245,000...
Given the adjusted trial balance shown below:
1) Prepare a multi-step income statement
2) a statement of retained earnings
3) Prepare a classified balance sheet in horizontal format
Dr 155,000 35,000 3,750 6,000 2,000 7,000 10,000 100,000 54,000 25,000 10,000 75,000 Big, Inc. Adjusted Trial Balance For the year ended 12/31/16 Account Cash Accounts Receivable 5 Allowance for Doubtful Accounts Prepaid Insurance Prepaid Property Taxes Inventory Loan Receivable Building A/D - Building Equipment A/D - Equipment Investments - Accounts Payable...
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...
how
do i switch my adjusted trial balance sheet to financial statements
(income statement, statement of stockholders equity, and classified
balance sheet) and how do i do the retained earnings of this
account?
А C D E F B Adjusted Trial Balance WN 4 Credit Debit $ 10,100 $ 2,800 $ 90 $ 550 $ 3,600 $ $ $ $ 60 130 480 10,500 5 6 Cash 7 Accounts Receivables 8 Supplies 9 Prepaid Insurance 10 Equipment 11 Accumulated Depreciation...