The adjusted trial balance columns in the worksheet of Elliot Painting Services are as follows.ELIOT PAINTING SERVICESWorksheet (Partial)for the year ended 30 June 2019Adjusted trial balanceDebit1 23075 6001 8008 320Income statementDebitBalance sheetDebitCreditAccountCash at BankAccounts ReceivablePrepaid RentOffice SuppliesEquipmentAccum. Depr. Equip'tAccounts PayableSalaries PayableUnearned RevenueF. Elliot, CapitalF. Elliot, DrawingPainting RevenueSalaries ExpenseRent ExpenseDepreciation ExpenseTelephone ExpenseOffice Supplies UsedSundry ExpensesCreditCredit160 00025 00054 0008 7603 430101 50022 000219 650106 0006 0508 0404 02010 0809 200$412 340$412 340Profit for the periodRequired:a) Complete the worksheet.b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of theentity's accounting period.

Income Statement: It is used to report a company financial statement during the accounting period…

Answered: The adjusted trial balance columns in…

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 trial balance columns of the worksheet for Cullumber Company at June 30, 2027, are as follows. Cash Cullumber Company Worksheet For the Month Ended June 30, 2027 Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Common Stock Service Revenue Account Titles Salaries and Wages Expense Miscellaneous Expense 1. Other data: 2, 3. MPANY Complete the worksheet. Cr. 30, 2027 Trial Balance Dr. 2,080 2,520 Accrued salaries are $290. 2,000 620 260 7,480 Dr. Cr. 1,100 A physical count reveals $500 of supplies on hand. $200 of the unearned revenue is still unearned at month-end. 420 2,960 3,000 7,480 M Income Statement Cr. II Dr. Balance Sheet IN Cr.
22 Salaries Payable 55 Insurance Expense 23 Unearmed Fees 59 Miscellaneous Expense The post-dosing trial balance as of April 30, 2019 Required: Journalize each of the May transactions using Kelly Consulling's clhar of accounts. (Do not Insert the account rumbers in the Post. Ref. colt compound transaction, if an amount box does not require an entry, leave it blank, May 3. Receved.cash fromn clients as an advance payrment for servies to be provided and recorded it as unearned fees, s1.500. Post. Ref. 4,500 May 5: Received cash from dlients on account, $2,450. Post. Ref. Debit 2,450 May 9: Paid cash for a newspaper advertisement, $225. Post. Ref. Debit DOOdODS日 May 13: Paid Office Station Co. for part of the debt incurred on April 5, $640. Post. Ref. Debit 640 May 15: Provided services on accournt for the period May 1-15, $9,180. Description Post. Ref. Debit 9,180 9,180 May 16: Paid part-time receptionist for two weeks' salary induding the amount owed on April 30, $750. Description Post.…
At December 31, 2024, Crane Industries reports the following selected accounts from the unadjusted trial balance for its first year of operations: Accounts payable Accounts receivable Account Cash Cost of goods sold Interest receivable Interest revenue Merchandise inventory Notes receivable, due April 10, 2025 Prepaid insurance Sales Sales returns and allowances Short-term investments Unearned revenue (a) Date Account Titles Dec. 31 Debit $686,000 39,200 1,715,000 1,100 318,500 44,100 7,840 98,000 49,000 Credit $343,000 2,200 3,596,600 Prepare the journal entry to record the bad debt expense on December 31, 2024, assuming the credit manager estimates that 4% of the accounts receivable will become uncollectible. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) 24,500 Debit Credit
Tech Support Services has the following unadjusted trial balance as of January 31, 2019: Tech Support Services Unadjusted Trial Balance January 31, 2019 Debit Balances Credit Balances Cash 25,550 Accounts Receivable. 44,050 Supplies... Prepaid Insurance Equipment.... Notes Payable.. Accounts Payable Thad Engelberg, Capital Thad Engelberg, Drawing Fees Earned..... 6,60 3,600 162,000 75,000 13,200 101,850 33,000 534,000 Wages Expense Rent Expense Advertising Expense... Gas, Electricity, and Water Expense 306,000 62,550 23,850 17,000 684,260 724,050 The debit and credit totals are not equal as a result of the following errors: a. The cash entered on the trial balance was overstated by $8,000. b. A cash receipt of $4,100 was posted as a debit to Cash of $1,400
Use the following Adjusted Trial Balance. Adjusted Trial Balance Debit Credit Cash $16,500 Accounts Receivable 18,200 Supplies 2,000 Prepaid Insurance 2,300 Equipment 14,000 Accounts Payable $14,200 Unearned Fee Revenue 4,300 Common Stock 31,000 Service Fee Revenue 21,500 Salaries Expense 12,000 Rent Expense 6,000 $71,000 $71,000 Prepare a classified Balance Sheet. Balance Sheet December 31, 2019 Assets Current Assets: Total Current Assets Property, Plant, and Equipment: Total Assets Liabilities Current Liabilities: Total Current Liabilities Stockholders' Equity $ Total Stockholders' Equity Total Liabilities and Stockholders' Equity
These accounts are among the accounts in Sportsline's adjusted trial balance in the worksheet: Accounts payable Accounts receivable Cash Equipment Notes payable Owner's Capital $13900 O $61900. $56900. O $75800. 18900 8000 30000 9600 33400 *K What are the total credits in the adjusted trial balance in the worksheet, based only on these accounts?
Required: a. Prepare a Trial balance as at 30 June 2022.
The following are account balances of Grameen Corporation: Account Title Amount in Unadjusted Trial Balance Balance after Adjustment Interest Receivable $ -0- $100 Prepaid Insurance 1,500 700 Interest Payable -0- 80 Salaries Payable -0- 450 Unearned Rent 500 200 Required: 1. Enter the unadjusted balance for each account in the following 2. Ledger accounts: Interest Receivable, Prepaid Insurance, Interest Payable, Salaries Payable, Unearned Rent, Interest Earned, Rent Earned, Insurance Expense, Interest Expense, and Salaries Expense. 3. Do the adjusting entry that must have been recorded for each account from the following report. 4. Post these adjusting entries and agree ending balances in each ledger to the adjusted balances above. 5. Identify revenue and expense amounts for the period.
Do not give image format
Prepare a) Income Statement for the year ended 31 December 2022 b) Statement of Owner's equity for the year ended 31 December 2022 c) Balance sheet as at December 31, 2022
Please do not give solution in image format thanku
URGENT1. Reconstruct the adjusting entries made. 2. Complete the 10-column worksheet.

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