Question

In: Accounting

The adjusted 12/31/22 Trial Balance for Sirius Corporation included these accounts and balances. All accounts have...

The adjusted 12/31/22 Trial Balance for Sirius Corporation included these accounts and balances. All accounts have a normal balance. No other accounts existed.

Retained Earnings (1/1/22)

$161

Salaries Expense

$170

Accounts Payable

$25

Common Stock

$50

Cash

$75

Accounts Receivable

$28

Unearned Service Revenue

$21

Salaries Payable

$9

Dividends

$25

Prepaid Rent

$8

Depreciation Expense: Equip.

$40

Cleaning Supplies

$15

Service Revenue

$350

Accumulated Depreciation: Equip.

$120

Cleaning Supplies Expense

$95

Equipment

$280
  1. Determine the total of the Adjusted Trial Balance columns.
  2. In proper format, prepare the Sirius Corporation:
    • 2022 Income Statement
    • 2022 Statement of Retained Earnings
    • 12/31/22 Balance Sheet
  • Show work (Equations used, if any)

Solutions

Expert Solution

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

The adjusted 12/31/22 Trial Balance for Sirius Corporation included these accounts and balances. All accounts have...
The adjusted 12/31/22 Trial Balance for Sirius Corporation included these accounts and balances. All accounts have a normal balance. No other accounts existed. Retained Earnings (1/1/22) $161 Salaries Expense $170 Accounts Payable $25 Common Stock $50 Cash $75 Accounts Receivable $28 Unearned Service Revenue $21 Salaries Payable $9 Dividends $25 Prepaid Rent $8 Depreciation Expense: Equip. $40 Cleaning Supplies $15 Service Revenue $350 Accumulated Depreciation: Equip. $120 Cleaning Supplies Expense $95 Equipment $280 Determine the total of the Adjusted Trial...
The adjusted 12/31/22 Trial Balance for Sirius Corporation included these accounts and balances. All accounts have...
The adjusted 12/31/22 Trial Balance for Sirius Corporation included these accounts and balances. All accounts have a normal balance. No other accounts existed. Retained Earnings (1/1/22) $161 Salaries Expense $170 Accounts Payable $25 Common Stock $50 Cash $75 Accounts Receivable $28 Unearned Service Revenue $21 Salaries Payable $9 Dividends $25 Prepaid Rent $8 Depreciation Expense: Equip. $40 Cleaning Supplies $15 Service Revenue $350 Accumulated Depreciation: Equip. $120 Cleaning Supplies Expense $95 Equipment $280 Determine the total of the Adjusted Trial...
The adjusted trial balance of Foster Products Company included the following balances for 12- 31-15, which...
The adjusted trial balance of Foster Products Company included the following balances for 12- 31-15, which was the first year of operations Accounts Payable $ 18000 -Credit Accumulated Depreciation 35000 -Credit Advertising Expense 17800 -Debit Cash 7400 -Debit Common Stock 3000 -Credit Cost of Goods Sold 75800 -debit Depreciation Expense 3000 -Debit Dividends 2000 _debit Equipment 81800 -Debit InsuranceExpense 2800 -Debit Interest Revenue 500 -Credit Inventory 24000-Debit Prepaid Insurance 3800 -Debit Rent Expense 26000 -Debit Retained Earnings 40000 -Credit Salaries...
The adjusted trial balance of Foster Products Company included the following balances for 12- 31-15, which...
The adjusted trial balance of Foster Products Company included the following balances for 12- 31-15, which was the first year of operations Accounts Payable $ 18000 Accumulated Depreciation 35000 Advertising Expense 17800 Cash 7400 Common Stock 3000 Cost of Goods Sold 75800 Depreciation Expense 3000 Dividends 2000 Equipment 81800 Insurance Expense 2800 Interest Revenue 500 Inventory 24000 Prepaid Insurance 3800 Rent Expense 26000 Retained Earnings 40000 Salaries Expense 63000 Sales 226600 Sales Discounts 1000 Sales Returns and Allowances 5000 Supplies...
The year-end adjusted trial balance of the Corporation included the following account balances:
  The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings $325,000 Service revenue 741,000 Salaries expense 396,000 Rent expense 27,000 Interest expense 5,000 Dividends 200,000 Prepare the closing entries. 34. $________   In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $________   In preparing the closing entries for the temporary accounts, how much should Retained earnings be debited? 36. $_________ After closing the accounts, what is the...
31) The following accounts were included on Aeroplane Consultants adjusted trial balance at December 31, 2018:...
31) The following accounts were included on Aeroplane Consultants adjusted trial balance at December 31, 2018: Accounts receivable $ 10,200 Accounts payable 16,000 Cash 7,500 Common stock 30,000 Dividends 12,000 Inventory 15,000 Sales taxes payable 1,350 Equipment 8,000 Interest expense 3,500 Note payable, due 8/31/21 60,000 Bonds payable 150,000 Salaries payable 7,000 Retained earnings 18,000 Unearned revenue 4,000 Prepaid supplies 2,000 Service revenue 44,000 Requirements: (Show all work) Total current assets? Total current liabilities?
Janson Corporation Co.'s trial balance included the following account balances at December 31, 2018: Accounts payable...
Janson Corporation Co.'s trial balance included the following account balances at December 31, 2018: Accounts payable $25,600 Bond payable, due 2027 24,200 Salaries payable 17,700 Note payable, due 2019 20,100 Note payable, due 2023 41,300 What amount should be included in the current liabilities section of Janson's December 31, 2018, balance sheet? Janson Corporation Co.'s trial balance included the following account balances at December 31, 2018: Accounts payable $25,600 Bond payable, due 2027 24,200 Salaries payable 17,700 Note payable, due...
The Zaarour Corporation's October 31 adjusted trial balance included many accounts, including the following. Accounts Payable...
The Zaarour Corporation's October 31 adjusted trial balance included many accounts, including the following. Accounts Payable $21,000 Accounts Receivable $27,000 Cash $23,000 Dividends $13,000 Fees Revenue $152,000 Income Taxes Expense $16,000 Income Taxes Payable $10,700 Insurance Expense $21,000 Interest Revenue $12,000 Prepaid Insurance $12,300 Retained Earnings $53,000 Supplies $16,000 Supplies Expense $15,000 Unearned Fees $12,000 Wages Expense $65,000 Wages Payable $11,000 Determine the dollar balance in the Corporation's income summary account before it was closed to retained earnings. a. $152,000...
Before closing entries at 12/31/2019, Trisco prepared the following adjusted trial balance (hint: accounts have not...
Before closing entries at 12/31/2019, Trisco prepared the following adjusted trial balance (hint: accounts have not been classified, yet): Debit                Credit - Cash                                                    3,000 - Rent expense                                     49,000 - Income taxes expense                        2,000 - Supplies expense                               23,000 - Salaries expense                              147,000 - Accounts receivable                           44,000 - Depreciation expense                        9,000 - Wages expense                                 42,000 - Prepaid insurance expense                   2,000 - Equipment                                        75,000 - Investments                                       20,000 - Interest expense                                 3,000 - Supplies inventory   ...
The balances for the accounts listed below appeared in the Adjusted Trial Balance columns of the...
The balances for the accounts listed below appeared in the Adjusted Trial Balance columns of the work sheet. Indicate whether each balance should be extended to (a) the Income Statement columns or (b) the Balance Sheet columns.       (1)    Salaries Payable   _____ (7)    Kim Lee, Drawing   ____         (2)    Fees Earned   ______ (8)    Equipment   ____         (3)    Accounts Payable   _____ (9)    Accounts Receivable   ____         (4)    Kim Lee, Capital   ______ (10)    Accumulated Depreciation   ____         (5)    Supplies Expense   _____ (11)    Salary Expense   ____        ...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT