For each scenario, calculate the net income/loss, identify if it is net income or loss, and finalize the totals for the Income Statement and Balance Sheet columns. SMART TOUCH LEARNING Worksheet December 31, 2016 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Names Total 44.000 44,000 5,000 5,000 50.600 50.600 13.600 17,700 37,000 12.900 Net income Total Net Loss SMART TOUCH LEARNING Worksheet December 31, 2016 Unadjusted Trial Adjustments Adjusted Trial Balance Income Statement Balance Sheet Balance Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Names Total 47.200 47,200 5400 5.400 54.600 54.600 30.900 35.500 14.700 19.100 Total
For each scenario, calculate the net income/loss, identify if it is net income or loss, and finalize the totals for the Income Statement and Balance Sheet columns. SMART TOUCH LEARNING Worksheet December 31, 2016 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Names Total 44.000 44,000 5,000 5,000 50.600 50.600 13.600 17,700 37,000 12.900 Net income Total Net Loss SMART TOUCH LEARNING Worksheet December 31, 2016 Unadjusted Trial Adjustments Adjusted Trial Balance Income Statement Balance Sheet Balance Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Names Total 47.200 47,200 5400 5.400 54.600 54.600 30.900 35.500 14.700 19.100 Total
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
1
Transcribed Image Text:For each scenario, calculate the net income/loss, identify if it is net income or loss, and finalize the totals
for the Income Statement and Balance Sheet columns.
SMART TOUCH LEARNING
Worksheet
December 31, 2016
Unadjusted Trial
Adjustments
Adjusted Trial Balance
Income Statement
Balance Sheet
Balance
Account
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Names
Total
44.000
44,000
5,000
5,000
50.600
50.600
13,600
17.700
37,000
32.900
Net Income
Total
Net Loss
SMART TOUCH LEARNING
Worksheet
December 31, 2016
Unadjusted Trial
Adjustments
Adjusted Trial Balance
Income Statement
Balance Sheet
Balance
Account
Names
Debit
Credit
Dehit Credit
Debir
Credit
Debit
Credit
Debit
Credit
Total
47.200
47,200
3400
5.400
54.600
54.600
39.900
35.500
14,700
19.100
Total
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