Account Names Cash Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Note Payable Farm, Capital Service Revenue Rent Expense Supplies Expense Depreciation Expense-Equipment Interest Expense Total $ Unadjusted Trial Balance Debit 800 900 14,400 Credit $ 700 300 3,900 4,000 12,700 4,800 700 21,600 $ 21,600 Adjustments Debit Credit 300 More info a. Office supplies on hand, $300. b. Depreciation, $700. c. Accrued interest expense, $800. Print Done X

Account Names Cash Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Note Payable Farm, Capital Service Revenue Rent Expense Supplies Expense Depreciation Expense-Equipment Interest Expense Total $ Unadjusted Trial Balance Debit 800 900 14,400 Credit $ 700 300 3,900 4,000 12,700 4,800 700 21,600 $ 21,600 Adjustments Debit Credit 300 More info a. Office supplies on hand, $300. b. Depreciation, $700. c. Accrued interest expense, $800. Print Done X

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A Accounts Payable AA Losses due to fire B Accounts Receivable BB Merchandise Inventory E Accumulated Depreciation—Equip EE Notes Payable F Allowance for Doubtful Accounts FF Payroll Tax Expense G Bad Debt Expense GG Premium on Bonds Payable H Bonds Payable HH Prepaid Insurance I Building II Prepaid Rent J Capital Lease Payable JJ Rent Expense K Cash KK Rent Revenue L Cost of Goods Sold LL Retained Earnings M Depreciation Expense MM Salaries and Wages Expense N Discount on Bonds Payable NN Salaries and Wages Payable O Dividends OO Sales Commission Expense P Equipment PP Sales Commission Payable Q Fed Income Tax Payable QQ Sales Returns R Fed Unemployment Tax Payable RR Sales Revenues S FICA Taxes Payable SS Sales Taxes Payable T Income Summary TT Service Revenue U Insurance Expense UU State Income Tax Payable V Interest Expense VV State Unemployment Tax Payable W Interest Payable WW Supplies X Interest Receivable XX Supplies Expense Y…
A Accounts Payable AA Losses due to fire B Accounts Receivable BB Merchandise Inventory E Accumulated Depreciation—Equip EE Notes Payable F Allowance for Doubtful Accounts FF Payroll Tax Expense G Bad Debt Expense GG Premium on Bonds Payable H Bonds Payable HH Prepaid Insurance I Building II Prepaid Rent J Capital Lease Payable JJ Rent Expense K Cash KK Rent Revenue L Cost of Goods Sold LL Retained Earnings M Depreciation Expense MM Salaries and Wages Expense N Discount on Bonds Payable NN Salaries and Wages Payable O Dividends OO Sales Commission Expense P Equipment PP Sales Commission Payable Q Fed Income Tax Payable QQ Sales Returns R Fed Unemployment Tax Payable RR Sales Revenues S FICA Taxes Payable SS Sales Taxes Payable T Income Summary TT Service Revenue U Insurance Expense UU State Income Tax Payable V Interest Expense VV State Unemployment Tax Payable W Interest Payable WW Supplies X Interest Receivable XX Supplies Expense Y…
Prepare SFP
Prepare Multi step income statement
Don't give answer in image format
A junior accountant at Salah Traders has prepared the post - adjustment trial balance below. He requires your assistance in preparing the financial statements for the entity. Post adjustment Trial Balance for Salah Traders for the year ended 31 October 2023. Required: Prepare the Statement for Financial Position for Salah Traders as at the 31 October 2023.
Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the credit period. a. $20,700 b. 10,500 7,800 2,500 1,800 C. d. Merchandise e. a. b. $ d. $ 19,700 e. $ Freight Paid by Seller c. $ 3,762 X X X X $400 100 Terms FOB shipping point, n/30 FOB shipping point, n/30 FOB destination, n/30 FOB shipping point, n/eom FOB destination, n/30 Returns and Allowances $1,000 1,300 700 400
EXERCISE 6: CALCULATING ROA USING THE DUPONT FINANCIAL SYSTEM The following accounts are included in Eva's retail store financial statements: Cost of sales Administrative expenses Prepaid expenses Inventories Depreciation/amortization Cash Trade receivables Revenue Non-current assets Distribution costs $2,300,000 170,000 60,000 300,000 25,000 25,000 250,000 3,000,000 1,700,000 200,000 170 Questions 1. Calculate her ROA by using the DuPont financial system. 2. What impact would there be on the ROA if the revenue account changed to $3,200,000?
answer the balance column of the general ledger (periodic method)
required:Prepare the preliminary trial balance. Arrange the Accounts in their correct order thank you
A Accounts Payable AA Losses due to fire B Accounts Receivable BB Merchandise Inventory E Accumulated Depreciation—Equip EE Notes Payable F Allowance for Doubtful Accounts FF Payroll Tax Expense G Bad Debt Expense GG Premium on Bonds Payable H Bonds Payable HH Prepaid Insurance I Building II Prepaid Rent J Capital Lease Payable JJ Rent Expense K Cash KK Rent Revenue L Cost of Goods Sold LL Retained Earnings M Depreciation Expense MM Salaries and Wages Expense N Discount on Bonds Payable NN Salaries and Wages Payable O Dividends OO Sales Commission Expense P Equipment PP Sales Commission Payable Q Fed Income Tax Payable QQ Sales Returns R Fed Unemployment Tax Payable RR Sales Revenues S FICA Taxes Payable SS Sales Taxes Payable T Income Summary TT Service Revenue U Insurance Expense UU State Income Tax Payable V Interest Expense VV State Unemployment Tax Payable W Interest Payable WW Supplies X Interest Receivable XX Supplies Expense Y…
Account Name Debit Amount Credit Amount Create a Journal Entry Gaston owns equipment that cost $90,000 with accumulated depreciation of $68,000. Gaston sells the equipment for $25,000. Prepare the journal entry to record the disposal of the equipment and enter it below.