Nadia CompanyAdjusted Trial BalanceDecember 31,2015Cash5,130Accounts Receivable3,300Prepaid Expenses55012,400EquipmentAccumulated Depreciation2,200Accounts Payable700Notes Payable-Due on June 30, 2016Nadia Porter, Capital4,00013,000Nadia Porter, Drawing700Fees Earned9,9302,450Wages ExpenseRent Expense1,900Utilities Expense1,475Depreciation Expanse1,150Miscellaneous Expense77529,83029,830Totals Nadia CompanyIncome StatementFor the Month Ended December 31, 2015

Income statement: The financial statement which reports revenues and expenses from business…

Answered: Nadia Company Adjusted Trial Balance…

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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A Company Unadjusted Trial Balance December 31, 2020 Cash $ 27,300 Accounts receivable 4,500 Supplies 900 Prepaid Rent 7,800 Equipment 73,500 Accumulated depreciation: equipment $19,400 Accounts payable 5,700 Unearned revenue 3,800 Note payable 20,000 Common stock 35,000 Retained earnings. 1/1/20 6,400 Service revenue 32,600 Salary expense 8,400 Telephone expense 300 Utilities expense 200 _______ Total $122,900 $122,900 Prepare the adjusting entry for the following: (Answers without supporting calculations will receive 0 points.) The note payable originated on September 1, 2020. The note has an interest rate of 10% with all interest and principle to be paid when the note matures on August 31, 2021. Debit Credit
2019 Ending Balances DEBITS CREDITS Cash 17,000 Marketable Securities 2,000 Accounts Rec. 14,000 Allowance for Bad Debt 2,000 Inventory 15,000 Prepaid Insurance 5,000 Land 30,000 Building 150,000 Accumulated Dep. - Building 45,000 Equipment 100,000 Accumulated Dep. - Equipment 20,000 Accounts Payable 9,000 Salaries Payable Unearned Revenue 2,000 Interest Payable Income Taxes Payable 3,000 Note Payable Bonds 100,000 Common Stock 50,000 Additional Pd-in-Capital 80,000 Retained Earnings 22,000 333,000 333,000 Complete the following jounral entries: Salaries are $2,200 per month (12 months of salaries expense must be booked). It is expected that one-half month will be owed on 12/31/20 because of when payday falls (therefore, 11.5 months of salaries have been paid and ½ month is still owed to the employees at year end). $56,000 in cash is borrowed on 9/30/20 by issuing a Note…
Lion Consulting Adjusted Trial Balance June 30, 2019 Debit Balances Credit Balances Cash 92,000 Accounts Receivable 450,000 Merchandise Inventory 370,000 Estimated Returns Inventory 5,000 Office Supplies 10,000 Prepaid Insurance 12,000 Office Equipment 220,000 Accumulated Depreciation - Office Equip. 58,000 Store Equipment 650,000 Accumulated Depreciation - Store Equip. 87,500 Accounts Payable 38,500 Customer Refunds Payable 10,000 Salaries Payable 4,000 Note Payable (final payment due 2029)* *140,000 M.T. Lion, Capital 431,000 M.T. Lion, Drawing 300,000 Sales 8,925,000 Cost of Merchandise Sold 5,620,000 Sales Salary Expense 850,000 Advertising Expense 420,000 Depreciation Expense--Store Equipment 33,000 Miscellaneous Selling Expense…
Woods Company                                Adjusted Trial Balance      for the year ended December 31st 2012                                       DETAILS      DEBIT $ CREDIT $ Cash 45,000 Accounts Receivable 50,000 Inventory 96,000 Equipment 100,000 Accumulated depreciation-equipment 20,000 Accounts payable 56,000 D. Woods - Capital 201,000 D. Woods - Drawing 36,000 Sales revenue 455,000 Sales returns and allowances        30,000      Sales discounts      25,000 Cost of goods sold 260,000 Salary expense 52,000 Insurance expense 9,000 Utilities expense 19,000 Depreciation expense 10,000 Delivery expense 15,000 Interest revenue 28,000 Interest expense 13,000 Total 760,000 760,000 Required: Prepare the company’s closing entries Prepare a multiple-step income statement, statement…
Trial Balance as at 30 September 2021 Dr Cr $ $ Equity 2,300,000 Sales 4,281,923 Purchases 1,893,612 Carriage Outwards 43,000 Drawings 15,000 Rent & Rates 96,000 Stationery 25,962 Advertising 100,000 Salaries & Wages 325,711 Returns 5,296 3,481 Bad Debts 33,250 Rent Receivables 100,000 Provision for Depreciation        -Building 390,000        -Motor Vehicle 160,000        -Equipment 450,000 Carriage Inwards 56,009 Bank 25,000 Inventory, 1 October 2017 120,000 Equipment – at cost 1,500,000 Building – at cost 2,600,000 Motor Vehicle – at cost 800,000 Land 1,500,000 Commission Receivable 6,200 Discounts 12,693 32,158 Trade receivables 298,730 Trade payables 226,501 Cash 50,000…
A Company Unadjusted Trial Balance December 31, 2020 Cash $ 27,300 Accounts receivable 4,500 Supplies 900 Prepaid Rent 7,800 Equipment 73,500 Accumulated depreciation: equipment $19,400 Accounts payable 5,700 Unearned revenue 3,800 Note payable 20,000 Common stock 35,000 Retained earnings. 1/1/20 6,400 Service revenue 32,600 Salary expense 8,400 Telephone expense 300 Utilities expense         200 _______ Total $122,900 $122,900 Prepare the adjusting entry for the following: (Answers without supporting calculations will receive 0 points.) At year-end, services for $2,300 of the unearned fees have not been performed.                                 Debit Credit
Prepare the retained earnings statement Prepare the balance sheet (Classified Format)

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