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7:20 Land Furniture Building Accumulated Depreciation: Furniture Accumulated Depreciation: Building Cash Supplies Notes Receivable Interest Receivable Prepaid Insurance Acounts Payable Interest Payable Salary Payable Shop Write Services Trial Balance at March 31, 2019 $ Unearned Service Revenue Note Payable (long term) S. Wright, Capital S. Wright, Withdrawals Service Revenue Interest Revenue Salary Expense Insurance Expense Interest Expense Utilities Expense Supplies Expense Depreciation Expense - Furniture Depreciation Expense- Building Total 25,050 41,100 85,850 6,450 750 15,450 6750 2,550 5,700 3,150 1,650 187,700 ... 30% - 2,100 51,750 22,050 13,200 28,050 44,850 25,200 500 187,700 Additional data at March 31, 2019: i. Prepaid insurance represents premiums for 15 months, from April 1, 2018 to June 30, 2019. ii. Accrued interest expense $300 iii. Accrued interest revenue $400 iv. Unearned service revenue remaining at year-end $5,200 v. Accrued advertising expense $600 (credit Accounts Payable) vi. Supplies on hand $600 vii. Accrued salary expense $900

7:20 Land Furniture Building Accumulated Depreciation: Furniture Accumulated Depreciation: Building Cash Supplies Notes Receivable Interest Receivable Prepaid Insurance Acounts Payable Interest Payable Salary Payable Shop Write Services Trial Balance at March 31, 2019 $ Unearned Service Revenue Note Payable (long term) S. Wright, Capital S. Wright, Withdrawals Service Revenue Interest Revenue Salary Expense Insurance Expense Interest Expense Utilities Expense Supplies Expense Depreciation Expense - Furniture Depreciation Expense- Building Total 25,050 41,100 85,850 6,450 750 15,450 6750 2,550 5,700 3,150 1,650 187,700 ... 30% - 2,100 51,750 22,050 13,200 28,050 44,850 25,200 500 187,700 Additional data at March 31, 2019: i. Prepaid insurance represents premiums for 15 months, from April 1, 2018 to June 30, 2019. ii. Accrued interest expense $300 iii. Accrued interest revenue $400 iv. Unearned service revenue remaining at year-end $5,200 v. Accrued advertising expense $600 (credit Accounts Payable) vi. Supplies on hand $600 vii. Accrued salary expense $900

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hi, can someone help me with questions

D-F on the attached.

7:20 Land Furniture Building Accumulated Depreciation: Furniture Accumulated Depreciation: Building Cash Supplies Notes Receivable Interest Receivable Prepaid Insurance Acounts Payable Interest Payable Salary Payable Shop Write Services Trial Balance at March 31, 2019 $ Unearned Service Revenue Note Payable (long term) S. Wright, Capital S. Wright, Withdrawals Service Revenue Interest Revenue Salary Expense Insurance Expense Interest Expense Utilities Expense Supplies Expense Depreciation Expense - Furniture Depreciation Expense- Building Total 25,050 41,100 85,850 6,450 750 15,450 2,550 5,700 3,150 1,650 Ś ..|| 30% 2,100 51,750 22,050 13,200 28,050 44,850 25,200 500 187,700 187,700 Additional data at March 31, 2019: i. Prepaid insurance represents premiums for 15 months, from April 1, 2018 to June 30, 2019. ii. Accrued interest expense $300 iii. Accrued interest revenue $400 iv. Unearned service revenue remaining at year-end $5,200 v. Accrued advertising expense $600 (credit Accounts Payable) vi. Supplies on hand $600 vii. Accrued salary expense $900 viii. Depreciation - Furniture $750 ix. Depreciation - Buildings $500
Transcribed Image Text:7:20 Land Furniture Building Accumulated Depreciation: Furniture Accumulated Depreciation: Building Cash Supplies Notes Receivable Interest Receivable Prepaid Insurance Acounts Payable Interest Payable Salary Payable Shop Write Services Trial Balance at March 31, 2019 $ Unearned Service Revenue Note Payable (long term) S. Wright, Capital S. Wright, Withdrawals Service Revenue Interest Revenue Salary Expense Insurance Expense Interest Expense Utilities Expense Supplies Expense Depreciation Expense - Furniture Depreciation Expense- Building Total 25,050 41,100 85,850 6,450 750 15,450 2,550 5,700 3,150 1,650 Ś ..|| 30% 2,100 51,750 22,050 13,200 28,050 44,850 25,200 500 187,700 187,700 Additional data at March 31, 2019: i. Prepaid insurance represents premiums for 15 months, from April 1, 2018 to June 30, 2019. ii. Accrued interest expense $300 iii. Accrued interest revenue $400 iv. Unearned service revenue remaining at year-end $5,200 v. Accrued advertising expense $600 (credit Accounts Payable) vi. Supplies on hand $600 vii. Accrued salary expense $900 viii. Depreciation - Furniture $750 ix. Depreciation - Buildings $500
7:21 |Notes Receivable Interest Receivable Prepaid Insurance Acounts Payable Interest Payable Salary Payable Unearned Service Revenue Note Payable (long term) S. Wright, Capital S. Wright, Withdrawals Service Revenue Interest Revenue Salary Expense Insurance Expense Interest Expense Utilities Expense Supplies Expense Depreciation Expense - Furniture Depreciation Expense- Building Total 15,450 2,550 5,700 3,150 1,650 187,700 ...| 30% 22,050 13,200 28,050 44,850 25,200 500 187,700 Additional data at March 31, 2019: i. Prepaid insurance represents premiums for 15 months, from April 1, 2018 to June 30, 2019. ii. Accrued interest expense $300 iii. Accrued interest revenue $400 iv. Unearned service revenue remaining at year-end $5,200 v. Accrued advertising expense $600 (credit Accounts Payable) vi. Supplies on hand $600 vii. Accrued salary expense $900 viii. Depreciation - Furniture $750 ix. Depreciation - Buildings $500 Required Prepare: a) journal entries to show the above adjustments b) the adjusted trial balance at March 31, 2019 c) The Income Statement for the Month. d) The Statement of Owner's Equity for the Month e) The Balance sheet for Shop Write as at March 31, 2019 f) Prepare the closing entries and post-closing trial balance
Transcribed Image Text:7:21 |Notes Receivable Interest Receivable Prepaid Insurance Acounts Payable Interest Payable Salary Payable Unearned Service Revenue Note Payable (long term) S. Wright, Capital S. Wright, Withdrawals Service Revenue Interest Revenue Salary Expense Insurance Expense Interest Expense Utilities Expense Supplies Expense Depreciation Expense - Furniture Depreciation Expense- Building Total 15,450 2,550 5,700 3,150 1,650 187,700 ...| 30% 22,050 13,200 28,050 44,850 25,200 500 187,700 Additional data at March 31, 2019: i. Prepaid insurance represents premiums for 15 months, from April 1, 2018 to June 30, 2019. ii. Accrued interest expense $300 iii. Accrued interest revenue $400 iv. Unearned service revenue remaining at year-end $5,200 v. Accrued advertising expense $600 (credit Accounts Payable) vi. Supplies on hand $600 vii. Accrued salary expense $900 viii. Depreciation - Furniture $750 ix. Depreciation - Buildings $500 Required Prepare: a) journal entries to show the above adjustments b) the adjusted trial balance at March 31, 2019 c) The Income Statement for the Month. d) The Statement of Owner's Equity for the Month e) The Balance sheet for Shop Write as at March 31, 2019 f) Prepare the closing entries and post-closing trial balance
Expert Solution
Step 1: Introduction

"Since you have posted a question with multiple sub-parts, we will solve the subparts asked by you. To get the remaining sub-part solved please repost the complete question and mention the sub-parts to be solved.”

Income Statement: A financial report showing a company's revenues, expenses, and net profit or loss over a specific period.

Statement of Owner’s Equity: A concise document showing the owner's equity by comparing total assets to total liabilities over a specific period.
Balance Sheet: A snapshot of a company's assets, liabilities, and shareholder equity at a specific point in time, crucial for assessing returns and capital structure.
Adjusted Trial Balance: List of account balances after adjustments, accounting for expenses, and non-monetary items, and reflecting updated financial status.

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