CRANE COMPANY Worksheet (partial) For the Month Ended April 30, 2022 Adjusted Trial Balance Account Titles Dr. Cr. Cash 11.700 Accounts Receivable 8,100 Prepaid Rent 2,400 Equipment 23.300 Accumulated Depreciation-Equip. Notes Payable Accounts Payable 4,500 5.500 4,700 Owner's Capital 31,450 Owner's Drawings 3,800 Service Revenue 15,400 Salaries and Wages Expense 10,800 Rent Expense 800 Depreciation Expense 650 Interest Expense 50 Interest Payable 50 Totals 61.600 61.600 (b) Post the closing entries. (Post entries in the order of journal entries posted in the previous part of the question.) Income Summary

CRANE COMPANY Worksheet (partial) For the Month Ended April 30, 2022 Adjusted Trial Balance Account Titles Dr. Cr. Cash 11.700 Accounts Receivable 8,100 Prepaid Rent 2,400 Equipment 23.300 Accumulated Depreciation-Equip. Notes Payable Accounts Payable 4,500 5.500 4,700 Owner's Capital 31,450 Owner's Drawings 3,800 Service Revenue 15,400 Salaries and Wages Expense 10,800 Rent Expense 800 Depreciation Expense 650 Interest Expense 50 Interest Payable 50 Totals 61.600 61.600 (b) Post the closing entries. (Post entries in the order of journal entries posted in the previous part of the question.) Income Summary

Name: CRANE COMPANYWorksheet (partial)For the Month Ended April 30, 2022Adj
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Description: CRANE COMPANYWorksheet (partial)For the Month Ended April 30, 2022Adjusted Trial BalanceAccount TitlesDr.Cr.Cash11,700Accounts Receivable8,100Prepaid Rent2,400EquipmentAccumulated Depreciation-Equip.23,3004,500Notes Payable5,500Accounts Payable4,700

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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В E H. 1 Use the following adjusted trial balance and additional information to complete the requirements: Company XYZ Adjusted Trial Balance December 31, 2020 4. 19,200 51,000 6. Cash Merchandise Inventory Store Supplies Equipment 10 Accumulated depreciation, equipment Accounts payable Salaries payable Claire Smith, Capital 7 8. 950 6. 43,500 15,400 8,950 1,200 68,000 11 12 13 14 Claire Smith, Withdrawals 7,000 15 Interest Income 400 16 Sales 326,000 Sales Discounts 6,100 4,000 150,000 3,850 1,600 28,300 29,800 13,500 27,000 5,750 17 18 Sales Returns and Allowances 19 Cost of Goods Sold 20 Depreciation expense, store equipment 21 Depreciation expense, office equipment 22 Sales salaries expense Office salaries expense 23 24 Insurance expense Rent expense (70% is store, 30% is office) Store supplies expense 27 Advertising expense 25 26 28,400 419,950 28 Totals 419,950 29
Problem The trial balance of the Mabilis Repair Shop appears below at the end of its calendar period: pplies y Cash on hand Accounts Receivable Estimated uncollectible accounts hable Mabilis Repair Shop Trial Balance December 31, 19A Notes Receivable Shop equipment Accum. Depreciation-Shop equipment Furniture and Fixture Accum. depreciation-fur. and fixt. Accounts payable Notes payable Leynes, Capital Leynes, Drawing Service Income Salaries expense Rent expense Supplies expense Taxes and licenses Light and water expesne Additional information: Debit P10,000 25,000 1,000 - Interest inne 8,000 8,000 4,000 1,500 3,000 P105,500 7,000 30,000 8,000 145 Credit P750 2,000 5,000 11,000 12,000 44,750 30,000 P105,500 1. Unpaid taxes P600 2. Accrued salaries, P3,000 3. Accrued interest on notes payable P200. 4. Unpaid light and water, P500 5. Supplies on hand, P1,000. 6. Bad debt expense is estimated to be 5% of Accounts Re- ceivable. 7. Fixed assets have estimated useful life of 10 years without…
The following accounts are taken from the ledger of Crane Company at December 31, 2022.
PLEASE DO ALL REQUIREMENTS AND SHOW STEP BY STEP SOLUTION C D
Prepare the Adjusted Trial balance for the period ending June 30, 2020
Open with Google Docs The following trial balance was extracted from the books of Fasuha Trading as at 31 December 2020. Debit RM Particulars Credit RM 12,250 9,150 3,600 Office equipment Motor vehicles Fumiture Accumulated depreciation as at 1 January 2020: Office equipment Motor vehicles Fumiture 2,450 1,373 1,060 3,632 29,608 6,860 Account receivables and account payables Сapital 6% loan to Rara Purchases and sales Discount Advertising Cash in hand Provision for doubtful debts 2,500 19,110 31,560 215 175 4,250 1,630 300 740 8,000 700 Commission received 6% loan from Afina Bank (taken from 1 May 2020) 1,200 1,900 1,260 4,005 1,000 5,270 210 250 610 915 110 Rent Drawings Maintenance and petrol Staff's wages Insurance Cash at bank Carriage inwards Carriage outwards Telephone and electricity Duties on purchases Returns 112 3.415 Inventory as at 1 January 2020 79.710 79.710 TOTAL Page 718 РОСО SHOT ON POCO F2 PRO
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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
Income Statement and Balance SheetRoss Airport Auto Service provides parking and minor repair service atthe local airport while customers are away on business or pleasure trips,The following account balances (except for retained earnings) areavailable for R055 Airport Auto Service at December 31, 2019. Required:Prepare a single-step income statement and a classified balance sheetfor the year ended December 31, 2019.
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…
Instructions Chart of Accounts Journal The estimated amount of depreciation on CHART OF ACCOUNTS Journalize the adjusting entry to record the depreciation on December 31. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for equipment for the current year is $8,255. journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. General Ledger Journalize the adjusting entry to record the depreciation. Refer to the chart of accounts for the ASSETS REVENUE PAGE 10 exact wording of the account titles. CNOW journals 11 Cash 41 Fees Earned JOURNAL ACCOUNTING EQUATION do not use lines for journal explanations. Every line 12 Accounts Receivable DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY on a journal page is used for debit or credit entries. 13 Supplies EXPENSES Adjusting Entries CNOW journals will…