DUE DATE:WEDNESDAY 08th MAY, 2024INSTRUCTIONS TO CANDIDATES:1. Read all questions carefully.2. Answer All Questions3. Show all Workings4. Your final answer must be presented clearly.5. No late assignments will be acceptedQuestion 1ACCOUNTS PAYABLE14,500.00ACCOUNTS RECEIVABLE7,500.00CAPITAL STOCK20,000.00CASH21,000.00CONSULTING REVENUE18,000.00OFFICE EQUIPMENT13,000.00OFFICE SUPPLIES500.00RENT EXPENSE9,000.00UTILITIES EXPENSE1,500.00InstructionsAbove is a list of balances for Steel Works Construction as at 31 December 2023.The following additional information was provided:1. Depreciation Charge on Office Equipment is $1,0002. All Office Supplies were used during the period.3. Rent Expense includes $2000 for January 20244. $300 was still owing on Utilities ExpenseYou are required to prepare the adjusted Trial Balance for Steel Works Construction asat 31st December, 2023 (30 marks)END2

First, let us record the adjusting entries for the additional information that were…

Answered: DUE DATE: WEDNESDAY 08th MAY, 2024…

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

Question Completion Status: | Chegg.com Mail-Nyamukondiwa, Tafad... Content QUESTION 3 At the beginning of the year, long-term debt of a firm is $272 and total liabilities is $321. At the end of the year, long- term debt is $251 and total liabilities is $331. The interest paid is $17. What is the amount of the cash flow to creditors? -$38 $21 $38 -$21 $17 QUESTION 4 At the beginning of the year, a firm has current assets of $324 and current liabilities of $228. At the end of the year, the current assets are $485 and the current liabilities are $268. What is the change in net working capital? $121 $0 -$121 $201 $161
A ezto.mheducation.com M Question 18 - Midterm 1- Connect b Accounting Question | bartleby Bb Announcements - 2021 Spring Term (1) Principles of .. Midterm 1 Saved Help Save & Exit Submit 18 Torrid Romance Publishers has total receivables of $2,800, which represents 20 days' sales. Total assets are $73,000. The firm's operating profit margin is 5.9%. Find the firm's ROA and asset turnover ratio. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 2 decimal places.) X 01:45:00 Asset turnover ratio ROA % Mc Graw Hill Education
Current Attempt in Progress Kingbird, Inc's trial balance at the end of its first month of operations reported the following accounts and amounts with normal balances: Cash Prepaid insurance Accounts receivable Accounts payable Notes payable Common stock Dividends Revenues Expenses $18240 O $35910 O $37050 O $36480 O $37620 570 2850 2280 3420 5700 570 25080 14250 Total credits on Kingbird, Inc's trial balance are
CrazyGames Apply AA Video 20-- Dashboard F v2.cengagenow.com Print Item July. 1 Cash K. Elliot, Capital Owner's original investment My Home Post the journal entries from Step 2 to the following general ledger accounts: Assets Liabilities Revenue 111 Cash 221 Accounts Payable 411 Consulting Fees 115 Supplies 512 Rent Expense 124 Equipment Owner's Equity 515 Telephone Expense 311 K. Elliot, Capital 312 K. Elliot, Drawing If an amount box does not require an entry, leave it blank. 20-- ACCOUNT GENERAL LEDGER Cash VPN 86% C CengageNOWv2 | Online teaching an... 111 1000000 10 000 00 ACCOUNT NO. 111 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Previous All work saved. Save and Exit Submit Assignment for Grading Pencil
pls help answer these two questions!
1. Prepare the closing entries (use the income summary account). 2. Prepare the post-closing (December 31, 2018) trial balance. 3. Prepare the January 1, 2019 opening trial balance. SafetyFirst Corporation Adjusted Trial Balance 2018 December 31. Workbook last modified: August 11 Debit Credit Cash 950,000 Accounts Receivable 3,800,000 Allowance for Doubtful Accounts 750,000 Inventory 8,500,000 Prepaid Insurance Notes Receivable Equipment 16,250,000 Building 2,800,000 Land 800,000 Accumulated Depreciation: Equipment Accumulated Depreciation: Building Accounts Payable 7,000,000 900,000 5,600,000 Notes Payable (Short-Term) Salaries Payable Interest Payable Mortgage Payable (Long-Term) 2,770,000 Common Stock Par $ 0.10 280,000 Additional Paid-In Capital Retained Earnings Dividends 10,000,000 800,000 Sales (Revenue) 35,300,000 Rent Revenue Cost of Goods Sold (COGS) Selling Expense Administrative Expense 23,500,000 2,150,000 2,450,000 Interest Expense Loss on Disposition of Equipment Income…
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…
The first image is the Post Closing trial balance The second one is the format needed. Thank you!
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS