Question

I had a question about Step 5-9. I already completed the general journal with the entries into the general ledger. Now I need help creating the adjusted trial balance, I cant get it to equal to $20,743. Also, I need help completing the financial statements: income statements, statement of owners equity, and a balance sheet. *Net Income has to equal $1024 and total assets has to equal $18,354.

credit CACEELILLE LAPSI 7000 105 Bive Raider Adventure Park ndusted Tool Pouane Account Name DORT can 9060 M.Lapinsk captal CONIS COCODIO Loan 10.000 Equipment 2,100 Aivortising Openso 250 Accounts payable in curančo expenso 160 wdoar expenso 380 Uncamca raunve OCHVITY courses 5650 mawing cxpenses Cuppies 420 Milaninski withdrawals 100 can Ticket verenve 420 3000 2925 y have to equal $20,743

The question is how can I balance out my adjusted trial balance to $20,743.

I need help finishing the adjusted trial balance because the debit and credit has to equal to $20,743. I can then create the financial statements including the income statement, statement of owners equity, and the balance sheet.

Answer 1

Answer:

The following is the correct Adjusted Trial Balance:

Adjusted Trial Balance Particulars drcr Cash 88101 M. Lapinski Capital Alc I I Notes payable loan from Grandfather) 100001 Equipment 21001 Sign 650 Advertisement Exps. 250 Activity Course 5650 Insurance Expenses 165 Prepaid Insurance 495 Suppies expenses 288 Accounts payable (Credit facility) 420 Ticket Revenue 2565 Accounts Receivable (Rutherford) 665 moweing Exps. 601 Wages Expenses 530 M. Lapinski, Withdrawal 700 Unearned Revenue 360 Interest Expenses 100 Interest payable Supplies 132 Depreciation Expenses 148 Accumulated Depreciation Equipment Accumulated Depreciation-Sign Accumulated Depreciation- Activity Course 100 Wages Payable Total 20743 20743 150

your cash balance was wrong. please consider following receipts and expenses for cash balance:

Receipts

7000 - capital instroduced

10000- loan from grand father

900 - ticket

675 - ticket

325 - rutherford club ticket

360 - unearned income

19260 - Total cash received in business

Less: Expenses

2100 - euipment purchased

250 - advertisment exps.

5650 - activity course

660 - insurance

650 - sign

60 - moweing exps.

380 - wages

700 - withdrawal

8810 - balance cash

As desired by you i have provided adjusted trala balance and necessary clerification, kindly feel free to ask question in case needed.