1. Journal Entries
2. Adjustment Entries
3. Adjusted Trial Balance
4. Income Statement
5. Stockholder's Equity
6. Balance Sheet
7. Closing Entries
Income Summary
Please provide rating.
Exercise 3-20A Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries...
Exercise 3-20A Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) On January 1, 2021, Red Flash Photography had the following balances: Cash, $13,000; Supplies, $8,100; Land, $61,000; Deferred Revenue, $5,100: Common Stock $51,000; and Retained Earnings, $26,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $21,000. 2. May 20 Provide services to customers for cash, $36,000, and on account,...
Exercise 3-20A Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) On January 1, 2021, Red Flash Photography had the following balances: Cash, $13,000; Supplies, $8,100; Land, $61,000; Deferred Revenue, $5,100: Common Stock $51,000; and Retained Earnings, $26,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $21,000. 2. May 20 Provide services to customers for cash, $36,000, and on account,...
Required information Exercise 3-20A Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) (The following information applies to the questions displayed below! On January 1, 2021, Red Flash Photography had the following balances: Cash, $27,000, Supplies, 59,500, Land, $75,000 Deferred Revenue, $6,500; Common Stock $65,000; and Retained Earnings, $40,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $35,000. 2. May 20...
On January 1, 2021, Red Flash Photography had the following balances: Cash, $13,000; Supplies, $8,100; Land, $61,000; Deferred Revenue, $5,100; Common Stock $51,000; and Retained Earnings, $26,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $21,000. 2. May 20 Provide services to customers for cash, $36,000, and on account, $31,000. 3. August 31 Pay salaries to employees for work in 2021, $24,000. 4. October 1 Purchase rental space for one year,...
Required information [The following information applies to the questions displayed below.] On January 1, 2021, Red Flash Photography had the following balances: Cash, $20,000; Supplies, $8,800; Land, $68,000; Deferred Revenue, $5,800; Common Stock $58,000; and Retained Earnings, $33,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $28,000. 2. May 20 Provide services to customers for cash, $43,000, and on account, $38,000. 3. August 31 Pay salaries to employees for work in...
Exercise 3-19 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) [The following information applies to the questions displayed below.,] The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Debit Credit Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense $ 11,800 148,000 5,800 29,000...
Please help me fill out these remaining charts on this problem. I have no idea what to put View transaction list View journal entry worksheet Date Account Title Credit No 1 Debit 33 000 Feb 15 Cash Common Stock 33.000 2 May 20 Cash Accounts Receivable Service Revenue 48.000 43.000 91.000 Aug 31 36.000 Salaries Expense Cash 35.000 4 Oct 01 25.000 Prepaid Rent Cash 25.000 5 Nov 17 35.000 Supplies Accounts Payable 35.000 Dec 30 Dividends 3.300 Cash 3.300...
Exercise 3-18A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker incorporated's fiscal year-end is December 31, 2021. The following is an adjusted trial balance as of December 31. Credit Debit $ 12,000 39,000 30,000 $ Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals 3,000 30,000 40,000 9,000 4,000 54,000 20,000 13,000 10,000 8.000 $136,000 $136,000 Required: 1. Prepare the...
Part 1 of 2 Required information Exercise 3-19A Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) [The following information applies to the questions displayed below.) points The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit eBook Hint Debit $ 11,100 141,000 5,100 25,500 310,000 Print References Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock...
C4-3 Recording Transactions (Including Adjusting Journal Entries), Preparing Financial Statements and Closing Journal Entries, and Computing Net Profit Margin and Current Ratio (Chapters 2, 3, and 4) (LO 2-3, LO 3-3, LO 4-1, LO 4-2, LO 4-3, LO 4-4, L Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows (the amounts...