AccountNumber101106153154183201209236301302403611622640677Account TitleCashAccounts receivableTrucksAccumulated depreciation-TrucksLandAccounts payableSalaries payableUnearned revenueB. Planta, CapitalB. Planta, WithdrawalsPlumbing revenueDepreciation expense-TrucksSalaries expenseRent expenseMiscellaneous expensesTotalsNet incomeTotalsWork SheetAdjusted TrialBalanceDebit$ 8,50037,14543,50030,00018,6895,82945,86414,8969,604$214,027Credit$ 17,48719,8054,5313,93170,27398,000$214,027Income StatementDebit8,500$ 5,82945,86414,8969,60484,693$ 84,693$-Credit00Balance Sheet andStatement ofOwner's EquityDebit37,14543,50030,0004,5313,93118,689137,796$ 137,796Credit$ 17,48719,80570,27398,000205,565$ 205,565

Account NumberAccount TitleAdjusted Trial Balance DebitAdjusted Trial Balance CreditIncome Statement…

Account Number 101 106 153 154 183 201 209 236 301 302 Account Title Cash Accounts receivable Trucks Accumulated depreciation-Trucks Land Accounts payable Salaries payable Unearned revenue B. Planta, Capital B. Planta, Withdrawals Work Sheet Adjusted Trial Balance Debit $ 8,500 37,145 43,500 30,000 18,689 Credit $ 17,487 19,805 4,531 3,931 70,273 Income Statement Debit 8,500X Credit Balance Sheet and Statement of Owner's Equity Debit Credit 37,145 43,500 30,000 4,531 3,931 18,689 $ 17,487 19,805 70,273

Account Number 101 106 153 154 183 201 209 236 301 302 Account Title Cash Accounts receivable Trucks Accumulated depreciation-Trucks Land Accounts payable Salaries payable Unearned revenue B. Planta, Capital B. Planta, Withdrawals Work Sheet Adjusted Trial Balance Debit $ 8,500 37,145 43,500 30,000 18,689 Credit $ 17,487 19,805 4,531 3,931 70,273 Income Statement Debit 8,500X Credit Balance Sheet and Statement of Owner's Equity Debit Credit 37,145 43,500 30,000 4,531 3,931 18,689 $ 17,487 19,805 70,273

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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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.
Need Help with Statement Matching
Ergonomics Supply Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 27,000 shares of preferred 2% stock, $100 par, and 600,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: July 1. Issued 213,000 shares of common stock at par for cash. 1. Issued 400 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Aug. Issued 69,400 shares of common stock in exchange for land, buildings, and equipment with fair market 7. prices of $149,100, S505,120 and $164,700 respectively. Sept. 20. Issued 17,600 shares of preferred stock at $105 for cash. Required: Journalize the transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a…
CHART OF ACCOUNTS 101 Cash 401 Service Revenue 211 Notes Payable 212 Accounts Payable 451 Rent Revenue 111 Notes Receivable 214 Interest Payable 491 Interest Revenue 112 Accounts Receivable 114 Interest Receivable 216 Wages Payable 511 Depreciation Expense 125 Supplies 261 Unearned Revenue 513 Insurance Expense 130 Prepaid Insurance 311 Common Stock 515 Rent Expense 320 Retained Earnings 517 Wages Expense 519 Supplies Expense 132 Prepaid Rent 161 Equipment 162 Accumulated Depreciation 591 Interest Expense Corporation purchased equipment on July 1 and gave an 18-month, 10% interest-bearing note with a face value of $45,000. Depreciation will be for 10 years using the straight-line method. The December 31 depreciation adjusting entry would be: Date Enter Account Number Debit Credit XX/XX/XX Would this adjusting entry be reversed? (Y for Yes or N for No)
Net income Accounts payable increased by Accounts receivable decreased by Inventories increased by Depreciation expense. Net cash provided by operating activities was: Multiple Choice О $138,200 $69,800 O $85,400 O $101,000. $153,800. $ 66,000 19,400 26,400 7,800 34,200
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…
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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 Income Tax Payable 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…