Complete the following end-of-period spreadsheet for Danilo Enterprises. If an amount box does not require an entry, leave it blank. Danilo Enterprises End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Income Statement Balance Sheet Balance Debit Credit Debit Credit Debit Credit Account Title Cash 14,500 Accounts Receivable 7,500 Supplies 500 Equipment 20,500 Accumulated Depr-Equip. 15,000 Accounts Payable 9,500 Wages Payable 3,060 Common Stock 18,240 Dividends 1,000 Fees Earned 34,000 Wages Expense 18,000 Rent Expense 9,300 Depreciation Expense 8,500 79,800 79,800 Totals Net Loss

Complete the following end-of-period spreadsheet for Danilo Enterprises. If an amount box does not require an entry, leave it blank. Danilo Enterprises End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Income Statement Balance Sheet Balance Debit Credit Debit Credit Debit Credit Account Title Cash 14,500 Accounts Receivable 7,500 Supplies 500 Equipment 20,500 Accumulated Depr-Equip. 15,000 Accounts Payable 9,500 Wages Payable 3,060 Common Stock 18,240 Dividends 1,000 Fees Earned 34,000 Wages Expense 18,000 Rent Expense 9,300 Depreciation Expense 8,500 79,800 79,800 Totals Net Loss

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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Here is Deon's credit card statement for the month of November. Date Transaction November 1 November 7 November 19 November 26 Payment Beginning balance Payment Purchase Date (a) Use the credit card statement to help fill in the table below. Note that there are 30 days in November. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Transaction amount $2900.06 $540.00 $35.45 $700.00 Transaction November 1 Beginning balance November 7 Payment November 19 Purchase November 26 Payment Transaction amount Unpaid balance Number of days at that balance $2900.06 $2900.06 6 days (from November 1 through November 6) $540.00 $2360.06 $35.45 $700.00 days (from November 7 through November 18) $7 days (from November 19 through November 25) $5 days (from November 26 through November 30) Total: 30 days Unpaid Number balance of days X $17,400.36 $ $ $ Total: $
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Here is the partial work sheet for Eckland Stereo. Eckland Stereo Work Sheet For Year Ended December 31, 20-- BALANCE SHEET ACCOUNT NAME DEBIT CREDIT Cash 14,622.00 Notes Receivable 7,529.00 Accounts Receivable 29,036.00 Merchandise Inventory 51,103.00 Prepaid Property Taxes 2,202.00 Prepaid Insurance 1,739.00 Land 17,153.00 Building 54,966.00 Accumulated Depreciation, Building 15,470.00 Computer Equipment 7,111.00 Accumulated Depreciation, Computer Equipment 6,116.00 Store Equipment 7,054.00 Accumulated Depreciation, Store Equipment 4,530.00 Delivery Equipment 4,689.00 Accumulated Depreciation, Delivery Equipment 3,299.00 Notes Payable 5,380.00 Accounts Payable 27,818.00 Mortgage Payable (current portion) 3,020.00 Mortgage Payable 67,945.00 M. J. Eckland, Capital 57,665.00 M. J. Eckland, Drawing 23,205.00 Wages Payable 2,011.00 220,409.00 193,254.00 Net Income…
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