Prepare Trial balance, Income Statement & Balance sheet with the help of the following ledger balances on December 31, 2018. Cash 15,000 SR, Accounts Receivable- 10,000 SR, Accounts Payable- 5,000 SR, Salary Payable- 10,000 SR, Service revenue- 14,000 SR, Advertising Expenses - 5,000 SR, Plant- 25,000 SR, Prepaid Insurance- 7,000 SR, Rashids Capital- 35,500 SR, Repair Expenses- 2,500 SR
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- Prepare Trial balance with the given ledger account balances the year ended March 2019. Capital 82,000; Sales 1,100,000; Adjusted Purchase 900,000; Current A/c(cr) 10,000; Petty Cash 12,000; Sales Ledger Balance 120,000; Purchase Ledger Balance 50,000; Salaries 20,000; Carriage Inwards 8,000; Carriage Outward 5,000; Discount Allowed 10,000; Building 80,000; Outstanding Expenses 20,000; Prepaid Insurance 2,000; Depreciation 4,000; Cash at Bank 80,000; Loan A/c (cr) 66,000; Profit & Loss A/c(cr) 20,000; Bad Debts Recovered 3,000; Stock at 31.03.2019 1,20,000; Interest Received 10,000; Accrued Interest 4,000; Investment 20,000; Provision for Bad Debts (01.04.2018) 6,000; General Reserve 19,000; Rent 1,000.The accounting records of Nettle Distribution show the following assets and liabilities as of December 31,2018 and 2019.December 31 2018 2019Cash . . . . . . . . . . . . . . . . . . . . . . . . $ 64,300 $ 15,640Accounts receivable . . . . . . . . . . . 26,240 19,100Office supplies . . . . . . . . . . . . . . . . 3,160 1,960Office equipment . . . . . . . . . . . . . . 44,000 44,000Trucks . . . . . . . . . . . . . . . . . . . . . . . 148,000 157,000December 31 2018 2019Building . . . . . . . . . . . . . . . . . . . . . $ 0 $80,000Land . . . . . . . . . . . . . . . . . . . . . . . . 0 60,000Accounts payable . . . . . . . . . . . . . 3,500 33,500Note payable . . . . . . . . . . . . . . . . . 0 40,000Required1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equityon the balance sheet and remember that total equity equals the difference between assets and liabilities.2. Compute net income for 2019 by comparing total equity amounts for these…Please assist with the attached. Thank you.
- The general ledger of Zips Storage at January 1, 2021, includes the following account balances:Accounts Debits CreditsCash $ 24,600Accounts Receivable 15,400Prepaid Insurance 12,000Land 148,000Accounts Payable $ 6,700Deferred Revenue 5,800Common Stock 143,000Retained Earnings 44,500Totals $200,000 $200,000The following is a summary of the transactions for the year:1. January 9 Provide storage services for cash, $134,100, and on account, $52,200.2. February 12 Collect on accounts receivable, $51,500.3. April 25 Receive cash in advance from customers, $12,900.4. May 6 Purchase supplies on account, $9,200.5. July 15 Pay property taxes, $8,500.6. September 10 Pay on accounts payable,…The following is the pre-closing trial balance for Christina Rehabilitation Hospital as of September 30, 2020. CHRISTINA REHABILITATION HOSPITAL Preclosing Trial Balance September 30, 2020 (000s omitted) Debits Credits Cash and Cash Equivalents $ 50,235 Accounts Receivable 61,880 Allowance for Uncollectible Receivables $ 16,580 Inventory 8,440 Prepaid Expenses 6,640 Assets Limited as to Use—Investments 49,470 Investments 201,000 Pledges Receivable 3,850 Discount on Pledges Receivable 940 Land 7,610 Buildings 325,940 Accumulated Depreciation—Buildings 145,960 Equipment 262,160 Accumulated Depreciation—Equipment 119,540 Accounts Payable 20,760 Accrued Payables 26,820 Interest Payable…Renegade Landscaping's general ledger includes the following account balances on December 31, 2018 Accounts Payable Interest Payable Salaries Payable Notes Payable, Current Portion Notes Payable, Long-Term Portion $19,560 a) Calculate current liabilities. Required Do not enter dollar signs or commas in the input boxes. Total Current Liabilities: $ $11,570 $520 b) Calculate long-term liabilities. Total Long-Term Liabilities: $ $14,220 $19,560
- You are required to prepare a trial balance for Alina Ltd as at 31st December 2021 and assess the source and structure of the trial Balance of Alex Ltd. The following information should be used to prepare the trial balance; £000 Capital 200 - Source - General ledger Stocks 20 - Source - General ledger Sales 100 - Source - Sales ledger or accounts receivable Cash and cash equivalent 110 - Source - Cash book Bank loan 70 - Source - General ledger Furniture and Fittings 180 - Source - General ledger or nominal ledger Trade Receivables 30 - Source - Sales ledger or receivables ledger Trade Payables 20 - Source - Payable ledger or purchase ledger Wages 50 - Source - General ledger or nominal ledgerUse the table for the questions below. Consider the following balance sheets: PharmPic DosageDoc Reported Dec. 31, 2020 2021 2020 2021 Assets Cash 224,224 200,400 301,540 230,876 Accounts Receivable 129,000 118,125 130,316 110,345 Inventories 154,890 171,147 184,717 186,000 Total Current Assets 508,114 489,672 616,573 527,221 Net Property Plant & Equipt. 421,162 431,795 456,462 460,000 Patents and Trademarks 212,770 210,110 201,348 199,990 Total Assets 1,142,046 1,131,577 1,274,383 1,187,211 Liabilities and Stockholders' Equity: Short Term Borrowings (Bank) 257,000 264,023 302,453 270,000 Accounts Payable 212,900 209,000 267,004 225,000 Current Portion of LTD (Interest Bearing Debt) 39,532 29,081 32,611 46,048 Total Current Liabilities 509,432 502,104 602,068…Included in Cheyenne Company's December 31, 2025, trial balance are the following accounts: Prepaid Rent $6,030, Debt Investments (to be held to maturity until 2028) $70,300, Unearned Fees $26,700, Land (held for investment) $40,400, and Notes Receivable (long-term) $53,500. Prepare the long-term investments section of the balance sheet. (Enter account name only and do not provide the descriptive information provided in the question.) CHEYENNE COMPANY Balance Sheet (Partial) $ $
- Data for item nos. 16 and 17 The following accounts and their balances in an unadjusted trial balance of Record of Youth Company as of December 31, 2020: Cash and cash equivalents- P400,000; Trade and other receivable P2,000,000; Subscription receivable- P375,000; Inventory- P500,000; Trade and other payables- P670,000; Income tax payable- P196,500. Additional information are as follows: • Trade and other receivables include long term advances to company officers amounting to P430,000. • The subscription receivable has the following call dates: June 30, 2021, P200,000; December 31, 2021, P100,000; and June 30, 2022, P75,000. • Inventory of P500,000 was determined by physical count. At December 31, 2020, goods costing P125,000 are in transit from a supplier. Terms of purchase of said goods is FOB shipping point. The goods and the related invoice have not been received as of year-end. • Trade and other payables include dividends payable amounting to P170,000, of which P70,000 is payable…On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances:Accounts Debit CreditCash $23,800Accounts Receivable 5,200Supplies 3,100Land 50,000Accounts Payable $ 3,200Common Stock 65,000Retained Earnings 13,900Totals $82,100 $82,100During January 2021, the following transactions occur:January 2 Purchase rental space for one year in advance, $6,000 ($500/month).January 9 Purchase additional supplies on account, $3,500January 13 Provide services to customers on account, $25,500.January 17 Receive cash in advance from customers for services to be provided in the future, $3,700.January 20 Pay cash for salaries, $11,500.January 22 Receive cash on accounts receivable, $24,100.January 29 Pay cash on…Trial balance
