Following are two income statements for Alexis Company for the year ended December 31. The left number column isprepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company recocash receipts and payments related to unearned and prepaid items in balance sheet accounts.RevenuesServices revenueCommissions revenueTotal revenuesExpensesDepreciation expense-ComputersDepreciation expense-Office furnitureSalaries expenseInsurance expenseRent expenseOffice supplies expenseIncome StatementsFor Year Ended December 31Advertising expenseUtilities expenseTotal expensesNet incomeUnadjusted Adjustments< Prev$ 24,00042,500$ 66,5000012,50004,50003,0001,25021,250$ 45,250a.6 of 7b.ONde.f.AdjustedNext >$ 30,60042,50073,1001,6501,92515,1951,4304,500Analyze the statements and prepare the seven adjusting entries a. through g. that likely were recorded. Hint. The entry for arefers to revenue that has been earned but not yet billed. No adjusting entry involves cash.Check my w5283,0001,32729,555$ 43,545

Name: Following are two income statements for Alexis Company for the year e
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Description: Following are two income statements for Alexis Company for the year ended December 31. The left number column isprepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company recocash receipts a

Adjusted trial balance is the trial balance which is prepared after the adjusting entries has been…

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Following are two income statements for Alexis Company for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company re cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Revenues Services revenue Commissions revenue Total revenues Expenses Depreciation expense-Computers Depreciation expense-Office furniture Salaries expense Insurance expense Rent expense Office supplies expense Advertising expense Utilities expense Total expenses Income Statements For Year Ended December 31 Unadjusted Net income $ 24,000 42,500 $ 66,500 < Prev 12,500 0 4,500 0 3,000 1,250 21,250 $ 45,250 Adjustments 6 of 7 14 www ‒‒‒ a. b. C. d. e. f. Adjusted Next > MREINI $ 30,600 42,500 73,100 Analyze the statements and prepare the seven adjusting entries a. through g. that likely were recorded. Hint. The entry fo refers to revenue that has been earned but not yet billed. No adjusting entry involves cash. 1,650 1,925 15,195 1,430 4,500 528 3,000 1,327 29,555 $ 43,545

Following are two income statements for Alexis Company for the year ended December 31. The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company re cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Revenues Services revenue Commissions revenue Total revenues Expenses Depreciation expense-Computers Depreciation expense-Office furniture Salaries expense Insurance expense Rent expense Office supplies expense Advertising expense Utilities expense Total expenses Income Statements For Year Ended December 31 Unadjusted Net income $ 24,000 42,500 $ 66,500 < Prev 12,500 0 4,500 0 3,000 1,250 21,250 $ 45,250 Adjustments 6 of 7 14 www ‒‒‒ a. b. C. d. e. f. Adjusted Next > MREINI $ 30,600 42,500 73,100 Analyze the statements and prepare the seven adjusting entries a. through g. that likely were recorded. Hint. The entry fo refers to revenue that has been earned but not yet billed. No adjusting entry involves cash. 1,650 1,925 15,195 1,430 4,500 528 3,000 1,327 29,555 $ 43,545

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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