From the following Company R adjusted trial balance, prepare the following:1. Income Statement2. Retained Earnings Statement3. Balance Sheet (simple-unclassified)4. Closing journal entries5. Post-Closing Trial BalanceAdjusted Trial BalanceDebitCreditCashAccounts ReceivablePrepaid InsuranceLand$ 44,00013,8006,40016,000$ 14,900Accounts PayableSalaries Payable4,500Common Stock31,00010,200Retained EarningsDividendsService RevenueInsurance ExpenseSalaries ExpenseMiscellaneous Expense12,00086,0007,60032,00014,800$146,600$146,600

Name: From the following Company R adjusted trial balance, prepare the foll
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Description: From the following Company R adjusted trial balance, prepare the following:1. Income Statement2. Retained Earnings Statement3. Balance Sheet (simple-unclassified)4. Closing journal entries5. Post-Closing Trial BalanceAdjusted Trial BalanceDebitCredi

In the Books Of Company R. Part 1)…

Business

Accounting

From the following Company R adjusted trial balance, prepare the following: 1. Income Statement 2. Retained Earnings Statement 3. Balance Sheet (simple-unclassified) 4. Closing journal entries 5. Post-Closing Trial Balance Adjusted Trial Balance Debit Credit $ 44,000 13,800 6,400 16,000 Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends $ 14,900 4,500 31,000 10,200 12,000 86,000 Service Revenue Insurance Expense Salaries Expense Miscellaneous Expense 7,600 32,000 14,800 $146,600 $146,600

From the following Company R adjusted trial balance, prepare the following: 1. Income Statement 2. Retained Earnings Statement 3. Balance Sheet (simple-unclassified) 4. Closing journal entries 5. Post-Closing Trial Balance Adjusted Trial Balance Debit Credit $ 44,000 13,800 6,400 16,000 Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends $ 14,900 4,500 31,000 10,200 12,000 86,000 Service Revenue Insurance Expense Salaries Expense Miscellaneous Expense 7,600 32,000 14,800 $146,600 $146,600

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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The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals 8. November 20 9. December 30 Requirement The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 Provide storage services for cash, $144,100, and on account, $57,200. Collect on accounts receivable, $52,500. General Journal Receive cash in advance from customers, $13,900. Purchase supplies on account, $11,200. Pay property taxes, $9,500. Pay on accounts payable, $12,400. Pay salaries, $133,600. Issue shares of common stock in exchange for $37,000 cash. Pay $3,800 cash dividends to stockholders. Insurance expired during the year is $8,000. Supplies remaining on hand at the end of the year equal $3,900. Provide services of $12,800 related to cash paid in advance by…
Use the Adjusted Trial Balance below for the Year Ended December 31, 2020 to complete the Income Statement, Statement of Stockholder's Equity, and Balance Sheet. Statement formats are included on the Exam 1 format document. M4 Engineering Use the $ dollar sign convention on all statements Debit Credit Cash 25,000 Accounts Receivable 7,500 Supplies Building 500 100,000 Accum. Depreciation 37,500 Accounts Payable 8,000 Notes Payable 12,500 Common Stock 5,000 Retained Earnings 10,000 Dividends 3,750 Fees Earned 85,500 Advertising Expense 10,000 Telephone Expense 6,250 Depreciation Expense 5.500 Total 158,500 158.500
The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: $5,300 Accounts receivable 3,300 Common stock 4,500 Revenue 2,450 Expense 7,200 Cash Dividends Land Accounts payable Retained earnings What is the amount of total assets that will be reported on the balance sheet as of December 31, Year 1? Multiple Choice $19,000 $9,800 $14,500 $4,700 5,200 4,500 2,850 $17,800
M4-14 through M4-17 (Algo) Reporting an Income Statement, Reporting a Statement of Retained Earnings, Reporting a Balance Sheet and Recording Closing Journal Entries [LO 4-4, LO 4-5] Skip to question [The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash $ 1,260 Accounts Receivable 2,300 Prepaid Insurance 2,600 Notes Receivable (long-term) 3,300 Equipment 13,500 Accumulated Depreciation $ 3,200 Accounts Payable 5,720 Salaries and Wages Payable 1,150 Income Taxes Payable 3,200 Deferred Revenue 660 Common Stock 2,700 Retained Earnings 1,120 Dividends 330 Sales Revenue 44,730 Rent Revenue 330 Salaries and Wages Expense 22,200 Depreciation Expense 1,600 Utilities Expense 4,520 Insurance Expense 1,700 Rent Expense 6,300 Income Tax Expense 3,200 Total $ 62,810 $ 62,810 M4-17 (Algo)…
Prepare correct Trial BAlance?
Provide journal entry for the following transaction: The following is taken from Adjusted Trial Balance of Company. Provide journal entry to close related revenue accounts. Accounts Debit Credit Sales Revenues 160,000 Sales Return 4,000 5,000 80,000 40,000 Interest Expense Cost of Goods Sold Salaries and Wages Expense Losses due to fire 8,000 10,000 Dividends
Question Content Area Finley CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 Equipment 19,000 19,000 Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 10,000 Wages Payable 2,000 2,000 Common Stock 5,000 5,000 Retained Earnings 2,911 2,911 Dividends 1,000 1,000 Fees Earned 49,736 49,736 Wages Expense 21,463 21,463 Rent Expense 5,022 5,022 Depreciation Expense 5,162 5,162 Totals 75,647 75,647 31,647 49,736 44,000 25,911 Net Income (Loss) 18,089 18,089 49,736 49,736 44,000 44,000 The ending balance of retained earnings is
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PB16. LO 5.4 From the following Company S adjusted trial balance, prepare the following: A. Income Statement B. Retained Earnings Statement C. Balance Sheet (simple-unclassified) D. Closing journal entries E. Post-Closing Trial Balance Adjusted Trial Balance Debit Credit Cash $ 55,200 Accounts Receivable 30,200 6,000 Prepaid Insurance Land 30,000 Accounts Payable Salaries Payable $ 14,300 6,100 Common Stock 26,000 Retained Earnings Dividends 38,900 16,500 Service Revenue Insurance Expense 211,850 24,000 Salaries Expense Miscellaneous Expense 128,350 6,900 $297,150 $297,150 A F9 F10 Book Air F7 *8 8 1 DII F8 ( 9 0 ) 0 P J F11 { [ + 11 F12 }