Account Titles Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation-Equip. Notes Payable (due in October 2022) Accounts Payable Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable Totals tions e the worksheet. financial statements from worksheet. DeSousa Company Worksheet (partial) For the Month Ended April 30, 2022 Adjusted Trial Balance Dr. Cr. 10,000 7,840 2,280 23,050 3,650 10,840 760 671 57 59,148 4,921 5,700 4.920 20,000 7,960 15,590 57 59.148 Income Statement Dr. Cr. Balance Sheet Cr. Dr.

Account Titles Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation-Equip. Notes Payable (due in October 2022) Accounts Payable Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable Totals tions e the worksheet. financial statements from worksheet. DeSousa Company Worksheet (partial) For the Month Ended April 30, 2022 Adjusted Trial Balance Dr. Cr. 10,000 7,840 2,280 23,050 3,650 10,840 760 671 57 59,148 4,921 5,700 4.920 20,000 7,960 15,590 57 59.148 Income Statement Dr. Cr. Balance Sheet Cr. Dr.

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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wwwwwwwww The Sky Blue Corporation has the following adjusted trial balance at December 31. Credit Sm Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation. Accounts Payable Salaries and Wages Payable Income Taxes Payable. Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Required: Prepare a statement of retained earnings for the year. Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total SKY BLUE CORPORATION Statement of Retained Earnings Balance, January 1 Balance, December 31 Servers Debit $ 1,260 2,300 2,600 3,300 13,500 330 22,200 1,600 4,520 1,700 6,300 3,200 $ 62,810 $ 3,200 5,720 1, 150 3,200 660 2,700 1,120 44,730 330 $ 62,810
Quick and EZ Delivery Income Statement Year Ended December 31, 2018 Revenues: Service Revenue $192,000 Expenses: Salaries Expense $65,000 Rent Expense 9,000 Interest Expense 7,600 Insurance Expense 2,600 Total Expenses Net Income Choose from any list or enter any number in the input fields and then click Check Answer. 2 parts remaining Clear All Final Check Data Table Land $12,000 Common Stock $20,000 Notes Payable 34,000 Accounts Payable 9,000 Property Tax Expense 3,100 Accounts Receivable 1,300 Dividends 35,000 Advertising Expense 10,000 Rent Expense 9,000 Building 139,600 Salaries Expense 65,000 Cash 2,200…
need last three requirement
Instructions X Income Statement Balance Sheet Journal spreadsheet, a part of which follows: 1. Prepare an income statement for the year ended June 30, 20Y3. Be sure to complete the 1. Prepare a balance sheet as of June 30, 20Y3. Fixed assets must be entered in order according to account number. Be sure 2. Based upon the end-of-period spreadsheet, joumalize the closing entries. Refer to the chart of accounts for the exact wording of the account titles. Finders Investigative Services statement heading. Refer to the Chart of Accounts and the list of Labels and Amount to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact CNOW joumals do not use lines for joumal explanations. Every line on a joumal page used for debit or credit entries. CNOW joumals will automatically Descriptions for the exact wording of the answer choices for text entries. Enter amounts as wording of the answer choices for text entries. You will not…
Prepare journal
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:Accounts Debit CreditCash $ 25,100Accounts Receivable 46,200Allowance for Uncollectible Accounts $ 4,200Inventory 20,000Land 46,000Equipment 15,000Accumulated Depreciation 1,500Accounts Payable 28,500Notes Payable (6%, due April 1, 2022) 50,000Common Stock 35,000Retained Earnings…
Finley CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 Equipment 19,000 19,000 Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 10,000 Wages Payable 2,000 2,000 Common Stock 5,000 5,000 Retained Earnings 11,545 11,545 Dividends 1,000 1,000 Fees Earned 41,258 41,258 Wages Expense 21,776 21,776 Rent Expense 5,957 5,957 Depreciation Expense 4,070 4,070 Totals 75,803 75,803 31,803 41,258 44,000 34,545 Net Income (Loss) 9,455 9,455 41,258 41,258 44,000 44,000 The journal entry to close revenues and expenses would involve: a.debits to Fees Earned and Retained Earnings and credits to the expense accounts b.a debit to Fees Earned…
Financial Accounting ‏
adjusted ELIOT PAINTING SERVICES Worksheet (Partial) for the year ended 30 June 2019 Adjusted trial balance Credit Balance sheet Debit Income statement Account Debit Debit Credit Credit Cash at Bank 1 230 Accounts Receivable Prepaid Rent Office Supplies 75 600 1 800 8 320 Equipment Accum. Depr. Equip't Accounts Payable 160 000 25 000 54 000 Salaries Payable Unearned Revenue F. Elliot, Capital F. Elliot, Drawings Painting Revenue Salaries Expense Rent Expense Depreciation Expense Telephone Expense 8 760 3 430 101 500 22 000 219 650 106 000 6 050 8 040 4 020 Office Supplies Used 10 080 Sundry Expenses 9 200 $412 340 5412 340 Profit for the period Required: a) Complete the worksheet. b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of the entity's accounting period
Sample Worksheet Work Sheet For the Month Ended January 31, 2020 Trial Balance Adjustments Adj. T/Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 13,200 22,000 5,400 29,250 22,000 5,400 Cash 20,000 b-h 3,950 29,250 22,000 a CD'S Other Securities 5,400 Loan Payable Owner' Equity 25,000 15,600 b 25,000 15,100 25,000 15,100 500 Revenue a 20,000 20,000 20,000 Interest Income Utilities expense Internet & Telephone Advertising Expense C 300 300 300 150 150 150 e 300 300 300 Rent Expense f 2,000 2,000 2,000 Supplies expense 450 450 450 Insurance expense 250 250 250 40,100 16,550 56,650 40,600 23,950 60,100 3,450 16,550 20,000 40,600 23,950 60,100 20,000 56,650 Net income 20,000 56,650 1. Cash is overstate by 500.00 and Owners Equity is overstated by $500.00. 2. Utilities Expense of $300.00 was paid on January 25. 3. Insurance expense of $250.00 was paid on January 27. 4. supplies for the month in the amount of $450.00 was purchased. 5. Rent for…
PROBLEM 2 - Budgets for a David, Inc. is preparing production data have April Unit sales 400 Finished goods inventc Raw materials inventor Desired ending inventc Finished goods:30% of Raw materials:25% of r Number of pounds of ra Number of direct labor Labor rate per hour: $1 Instructions: a - Prepare the producti produced during April a b - Prepare the raw mat materials should be pur Prepar the budgeted