*E3.22 (LO 8) (Worksheet and Balance Sheet Presentation) The adjusted trial balance for Ed Bradley Co. is presented in the following worksheet for the month ended April 30, 2020. 123 2 3 4 10 5 Ed Bradley Co. Home Insert Page Layout Formulas Data Review View P18 A 6 7 Account Titles 8 Cash 9 Accounts Receivable 10 Prepaid Rent 11 Equipment B Ed Bradley Co. Worksheet (partial) For the Month Ended April 30, 2020 Adjusted Trial Balance 12 Accumulated Depreciation-Equipment 13 Notes Payable 14 Accounts Payable 15 Common Stock 16 Retained Earnings-April 1, 2020 17 Dividends 18 Service Revenue 19 Salaries and Wages Expense 20 Rent Expense 21 Depreciation Expense 22 Interest Expense E F Income Statement Balance Sheet Dr. Cr. Dr. Cr. Dr. Cr. 24,552 6,920 2,280 18,050 4,895 5,700 4,472 34,960 1,000 1,100 12,590 6,840 3,760 145 83 83 23 Interest Payable Instructions Complete the worksheet and prepare a classified balance sheet.

*E3.22 (LO 8) (Worksheet and Balance Sheet Presentation) The adjusted trial balance for Ed Bradley Co. is presented in the following worksheet for the month ended April 30, 2020. 123 2 3 4 10 5 Ed Bradley Co. Home Insert Page Layout Formulas Data Review View P18 A 6 7 Account Titles 8 Cash 9 Accounts Receivable 10 Prepaid Rent 11 Equipment B Ed Bradley Co. Worksheet (partial) For the Month Ended April 30, 2020 Adjusted Trial Balance 12 Accumulated Depreciation-Equipment 13 Notes Payable 14 Accounts Payable 15 Common Stock 16 Retained Earnings-April 1, 2020 17 Dividends 18 Service Revenue 19 Salaries and Wages Expense 20 Rent Expense 21 Depreciation Expense 22 Interest Expense E F Income Statement Balance Sheet Dr. Cr. Dr. Cr. Dr. Cr. 24,552 6,920 2,280 18,050 4,895 5,700 4,472 34,960 1,000 1,100 12,590 6,840 3,760 145 83 83 23 Interest Payable Instructions Complete the worksheet and prepare a classified balance sheet.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 9RE: Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for...

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The adjusted trial balance columns in the worksheet of Elliot Painting Services are as follows.ELLIOT PAINTING SERVICESWorksheet (Partial)for the year ended 30 June 2019Adjusted trial balance Income statement Balance sheetAccount Debit Credit Debit Credit Debit CreditCash at Bank 1 230Accounts Receivable 75 600Prepaid Rent 1 800Office Supplies 8 320Equipment 160 000Accum. Depr. Equip’t 25 000Accounts Payable 54 000Salaries Payable 8 760Unearned Revenue 3 430F. Elliot, Capital 101 500F. Elliot, Drawings 22 000Painting Revenue 219 650Salaries Expense 106 000Rent Expense 6 050Depreciation Expense 8 040Telephone Expense 4 020Office Supplies Used 10 080Sundry Expenses 9 200$412 340 $412 340Profit for the periodRequired:a) Complete the worksheet.b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of theentity’s accounting period.
Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for 8,500. Prepare the journal entry for McKinncy to record the collection of the account previously written off.
Prepare an annual income statement from the following adjusted trial balance.Blossom EnterprisesAdjusted Trial Balance December 31, 2020AccountDebitCreditCash$1,900Accounts Receivable 14, 100Allowance for Doubtful Accounts$900Prepaid Insurance1, 900Equipment26, 400Accumulated Depreciation4, 600Notes Payable9, 000Accounts Payable2, 800Salaries and Wages Payable2, 000 Interest Payable100Common Stock16,000Retained Earnings7, 800Dividends2, 500Service Revenue123, 500Salaries and Wages Expense84, 700Rent Expense23, 000Supplies Expense5, 500Insurance Expense3, 000Interest Expense600Bad Debt Expense900Depreciation Expense2, 200$166, 700$166, 700
Please do E4.7 part a.(listed under instructions) Part a. is Prepare closing entries at June 30, 2020.
Details about the account balances and general journal information of Maxwell Company for 2019 are given below. Beginning account balances for 2019 Amunt Ca Land Suli Unmed Reven ee Cn Sk Retainad Eanings 20.00 The following are the general journal information of Maxwell Соmpany for 2019 Mane Compy General ural. 219 Account T Event D Cre 1. Cad Bask Lon Offee Egieel 15.000 Cah 150 Accou Rocile 35,000 Service Reven 35, 4. Ca 15000 Account Roceinabe 15,00 Dividends 5000 Cah 5,00 hupaid Re 120 Cah 12,00 Lncamed Revenee 5000 Senice Reven Rest Eapee huped Ro 4.000 6000 Spples spense Supple 10,00 Required: b. Prepare T- Account c. Prepare Trial Balanc. d. Prepare Income Statement e. Prepare Balance Sheet
Read the following information and answer questions that follow.Tamapo prepared the following trial balance as at 31 December 2019 which contains errors: TamapoTrial Balance as at 31 December 2019P PMotor Vehicle at net 38,000.00 Sales 109,000.00Purchases 80,230.00Inventory 5,100.00Bank Overdraft 13,900.00Cash in Hand 1,500.00Drawings 6,500.00Discount Allowed 720.00Other Operating Expenses 9,350.00Wages and Salaries 16,500.00Capital 35,000.00Difference 60,700.00 188,250.00 188,250.00Required:Prepare a corrected trial balance as at 31 December 2019.
a) Prepare the adjusted trial balance. For each adjustment, describe your workings and justify them. b) Use the adjusted trial balance to prepare the income statement for 2020. c) Use the adjusted trial balance to prepare the balance sheet for 2020.
The adjusted trial balance for Bonita Co. is presented in the following worksheet for the month ended April 30, 2020. BONITACO. Worksheet (PARTIAL) For the Month Ended April 30, 2020 Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Cash $20,632 %24 20.632 Accounts Receivable 8,580 8.580 Prepaid Rent 2,511 2511 Equipment 19,710 19.710 Accumulated Depreciation-Equipment 5.126 5,126 Notes Payable 7.360 7,360 Accounts Payable 6,132 6.132 Common Stock 36.620 36.620 Retained Earnings-April 1, 2020 1.000 1.000 Dividends 6.650 6.650 Service Revenue 14.250 14.250 Salaries and Wages Expense 8.500 8.500 Rent Expense 3,760 3.760 Depreciation Expense 145 145 Interest Expense 314 314 Interest Payable 314 314 Totals S70,802 $70,802 Net Income Totals
Using the ledger bal & addtl data given, do the following for Callahan Lumber for the yr ended December 31, 2019: Account Balances for Callahan Lumber Account No. 110 Cash $1,140 111 Accounts Receivable 1,270 112 Merch Inv 5,600 113 Lumber Supplies 260 114 Prepaid Insurance 117 121 Lumber Equip 2,600 122 Accu Depreciation, Lumber Equip 340 220 Accs Payable 1,330 221 Wages Payable - 330 L. Callahan, Cap 7,562 331 L. Callahan, Withdrawals 3,500 332 Income Summary - 440 Sales 23,000 441 Sales Returns and Allowances 400 550 Cost of Goods Sold 13,175 660 Wages Exp 2,390 661 Advertising Exp 940 662 Rent Exp840 663 Dep Exp, Lumber Equip - 664 Lumber Supplies Exp- 665 Ins Exp - Addtl Data a. Physical count of inv, Dec 31 $4,700 b. Lumber supp on hand, Dec 31 80 c. Insurance expd 70 d. Dep for the yr 460 e. Accrued wages on Dec 31 165 d. Prepare a post-closing trial balance. e. Journalize the reversing entry for…
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The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2019. 1) Prepare a multiple step income statement.
LTI Post Attend cengage lo * CengageNO M Reset your E Homework com/ilm/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inpr.. Chart of Accounts General Journal Instructions Delmarva Company, during its first year of operations in 2020, reported taxable income of $170,000 and pretax financial income of $100,000. The differenc between taxable income and pretax financial income was caused by two timing differences: excess depreciation on tax return, $70,000; and warranty expenses in excess of warranty payments, $40,000. These two timing differences will reverse in the next three years as follows: Year Depreciation Warranty Expenses 2021 $10,000 $20,000 2022 20,000 16,000 2023 40,000 4,000 Enacted tax rates are 30% for 2020, 35% for 2021 and 2022, and 40% for 2023. Required: