Question

In: Accounting

The account balances from the December 31, 2019, trial balance for Haman Accounting Services are shown...

The account balances from the December 31, 2019, trial balance for Haman Accounting Services are shown below.

HAMAN ACCOUNTING
Trial Balance
December 31, 2019
ACCOUNT NAME DEBIT CREDIT
Cash 7,500
Accounts Receivable 3,500
Supplies 2,500
Prepaid Rent 16,000
Equipment 15,000
Accounts Payable 9,600
Erik Haman, Capital 23,500
Erik Haman, Drawing 4,500
Fees Income 23,000
Salaries Expense 4,500
Utilities Expense 2,600
Totals 56,100 56,100

Prepare an income statement for the Haman Accounting Services for the month ended December 31, 2019.

Prepare a statement of owner’s equity for Haman Accounting Services for the month ended December 31, 2019.

Prepare a balance sheet for Haman Accounting Services as of December 31, 2019.

Solutions

Expert Solution

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

The account balances from the December 31, 2019, trial balance for Haman Accounting Services are shown...
The account balances from the December 31, 2019, trial balance for Haman Accounting Services are shown below. HAMAN ACCOUNTING Trial Balance December 31, 2019 ACCOUNT NAME DEBIT CREDIT Cash 7,500 Accounts Receivable 3,500 Supplies 2,500 Prepaid Rent 16,000 Equipment 15,000 Accounts Payable 9,600 Erik Haman, Capital 23,500 Erik Haman, Drawing 4,500 Fees Income 23,000 Salaries Expense 4,500 Utilities Expense 2,600 Totals 56,100 56,100 Prepare an income statement for the Haman Accounting Services for the month ended December 31, 2019. Prepare...
1. The account balances from the December 31, 20X1, trial balance for Haman Accounting Services are...
1. The account balances from the December 31, 20X1, trial balance for Haman Accounting Services are shown below. HAMAN ACCOUNTING Trial Balance December 31, 20X1 ACCOUNT NAME DEBIT CREDIT Cash 7,300 Accounts receivable 3,200 Supplies 1,200 Prepaid rent 12,000 Equipment 15,500 Accounts payable 9,450 Erik Haman, Capital 20,000 Erik Haman, Drawing 4,200 Fees income 21,000 Salaries expense 6,200 Utilities expense 850 Totals 50,450 50,450 Prepare an income statement for the Haman Accounting Services for the month ended December 31, 20X1....
The adjusted trial balance for Wisdom Company, as of December 31, 2019, is shown below: Wisdom...
The adjusted trial balance for Wisdom Company, as of December 31, 2019, is shown below: Wisdom Company Adjusted Trial Balance As at December 31, 2019 Dr Cr Accounts receivable 19,800 Machinery 44,800 Cash 22,600 Accumulated depreciation - Machinery Depreciation expense - Machinery 2,000 21,000 Rental expense 44,000 Salary expense 35,580 Electricity expense 2,400 Accounts payable 3,500 Notes payable 30,000 Interest payable 3,980 Share Capital 10,000 Retained earnings as at January 1, 2019 23,000 Marketing revenue Dividends 20,000 110,000 Supplies Unearned...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020:...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020: Accounts Payable ............ $56,000 Accounts Receivable ......... $42,000 Cash ........................ $11,000 Common Stock ................ $63,000 Cost of Goods Sold .......... $52,000 Income Tax Expense .......... $12,000 Insurance Expense ........... $21,000 Inventory ................... $70,000 Land ........................ $68,000 Mortgage Payable ............ $49,000 Patent ...................... $31,000 Prepaid Insurance ........... $17,000 Rental Revenue .............. $46,000 Retained Earnings ........... $72,000 (at January 1, 2020) Sales Revenue ............... $95,000 Supplies...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020:...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020: Accounts Payable ............ $56,000 Accounts Receivable ......... $42,000 Cash ........................ $11,000 Common Stock ................ $63,000 Cost of Goods Sold .......... $52,000 Income Tax Expense .......... $12,000 Insurance Expense ........... $21,000 Inventory ................... $70,000 Land ........................ $68,000 Mortgage Payable ............ $49,000 Patent ...................... $31,000 Prepaid Insurance ........... $17,000 Rental Revenue .............. $46,000 Retained Earnings ........... $72,000 (at January 1, 2020) Sales Revenue ............... $95,000 Supplies...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020:...
The following account balances were taken from ABC Company’s unadjusted trial balance at December 31, 2020: Accounts Payable ............ $56,000 Accounts Receivable ......... $42,000 Cash ........................ $11,000 Common Stock ................ $63,000 Cost of Goods Sold .......... $52,000 Income Tax Expense .......... $12,000 Insurance Expense ........... $21,000 Inventory ................... $70,000 Land ........................ $68,000 Mortgage Payable ............ $49,000 Patent ...................... $31,000 Prepaid Insurance ........... $17,000 Rental Revenue .............. $46,000 Retained Earnings ........... $72,000 (at January 1, 2020) Sales Revenue ............... $95,000 Supplies...
On December 31, 2019, the following were the balances in SRK Inc’s Trial Balance: Accounts Receivable:...
On December 31, 2019, the following were the balances in SRK Inc’s Trial Balance: Accounts Receivable: DR $107,250; Allowance for Doubtful Accounts: CR$1,900. What amount should be debited to Bad Debt Expense, assuming 6% of the outstanding Accounts Receivable at December 31, 2019 are still estimated to be uncollectible? Provide a journal entry to show the adjustment.
The following balances are taken from the Trial Balance of Alpha Corp as of December 31,...
The following balances are taken from the Trial Balance of Alpha Corp as of December 31, 2018: Cash               $19,000               Accounts Receivable   $ 8,000 Accounts Payable          5,500                   Equipment       25,000 Interest Income           500                   Prepaid Insurance   2,500 Accumulated Depreciation      10,000               Common Stock       20,000 Notes Payable (due in 2019)      7,000                   Salaries Expense   28,000 Retained Earnings...
Account balances from the ledger of Crosby Company on December 31, 2019, are as follows: Accounts...
Account balances from the ledger of Crosby Company on December 31, 2019, are as follows: Accounts Payable .................................................................................. $   23,000 Accounts Receivable ............................................................................. 38,000 Accumulated Depreciation--Equipment .................................................   64,000 Allowance for Doubtful Accounts ........................................................... 2,000 Patent .................................................................................................... 8,400 Capital Stock, $10 par ........................................................................... 100,000 Cash ...................................................................................................... 60,260 Inventory ................................................................................................ 105,000 Sales Supplies Inventory ....................................................................... 900 Interest Expense .................................................................................... 6,600 Inventory, December 31, 2018 .............................................................. 104,850 Contributed Capital in Excess of Par Value ........................................... 15,000 Long-Term Note Receivable, 14% ......................................................... 12,000 Mortgage Payable,...
WALNUT GROVE TRIAL BALANCE For the Years Ended December 31, 2019 and December 31, 2020 2019...
WALNUT GROVE TRIAL BALANCE For the Years Ended December 31, 2019 and December 31, 2020 2019 2020 Debit Credit Debit Credit Cash          185,500 Accounts Receivable          125,600 Inventory             55,000 Prepaid Expenses                            - Building          275,000 Computers & Software             10,000 Furniture & Fixtures             25,000 Land             75,000 Machinery & Equipment                            - Accumulated Depreciation             15,385 Accounts Payable             48,500 Payroll Tax Payable                1,050 Sales Tax Payable                7,913 Unearned Revenue                            - Line of Credit          300,000 Notes Payable                            - Peters, J., Capital                2,500 Peters, M., Capital                2,500 Retained...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT