Question

In: Accounting

Ryan Company Trial Balance December 31, 2017 Debit Credit Cash 21,800 Accounts Receivable 18,800 Prepaid Insurance...

Ryan Company

Trial Balance

December 31, 2017

Debit Credit
Cash 21,800
Accounts Receivable 18,800
Prepaid Insurance 1,000
Equipment 5,000
Accumulated Depreciation-Equipment 9,600
Accounts Payable 11,600
Salaries and Wages Payable 2,200
Unearned Rent Revenue 1,600
Common Stock 20,000
Retained Earnings 11,000
Dividends 5,600
Service Revenue 69,200
Rent Revenue 26,200
Salaries and Wages Expense 36,200
Supplies Expense 4,000
Rent Expense 21,600
Insurance Expense 3,000
Depreciation Expense 2,400
151,400 151,400

Prepare the income and statement of changes in stockholders' equity statements for the year and the classified balance sheet at December 31.

Solutions

Expert Solution


Related Solutions

WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2017 Debit Credit Cash $ 34,000 Accounts receivable...
WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2017 Debit Credit Cash $ 34,000 Accounts receivable 0 Teaching supplies 8,000 Prepaid insurance 12,000 Prepaid rent 3,000 Professional library 35,000 Accumulated depreciation—Professional library $ 10,000 Equipment 80,000 Accumulated depreciation—Equipment 15,000 Accounts payable 26,000 Salaries payable 0 Unearned training fees 12,500 Common stock 10,000 Retained earnings 80,000 Dividends 50,000 Tuition fees earned 123,900 Training fees earned 40,000 Depreciation expense—Professional library 0 Depreciation expense—Equipment 0 Salaries expense 50,000 Insurance expense 0 Rent expense...
HANSON PRODUCTS COMPANY Adjusted Trial Balance December 31, 2018 Debit Credit Cash $    14,400 Accounts receivable...
HANSON PRODUCTS COMPANY Adjusted Trial Balance December 31, 2018 Debit Credit Cash $    14,400 Accounts receivable 35,000 Allowance for doubtful accounts 800 Merchandise inventory 50,400 Office supplies 900 Prepaid Insurance 1,200 Equipment 60,000 Accumulated depreciation – equipment 25,000 Accounts payable 12,000 Notes payable 10,000 Common stock 40,000 Retained earnings 22,250 Dividends 21,000 Net Sales 320,300 Cost of goods sold 205,000 Sales salaries expense 32,500 Depreciation expense – equipment 7,500 Office supplies expense 1,300 Interest expense 600 Bad Debts Expense 200...
GREAT ADVENTURES, Inc. Adjusted Trial Balance December 31, 2019 Accounts Debit Credit Cash 64,200 Accounts Receivable...
GREAT ADVENTURES, Inc. Adjusted Trial Balance December 31, 2019 Accounts Debit Credit Cash 64,200 Accounts Receivable 2,000 Inventory 5,000 Prepaid insurance 2,400 Prepaid rent 1,600 Supplies (Office) 300 Supplies (Racing) 200 Equipment (Bikes) 12,000 Equipment (Kayaks) 21,000 Accumulated depreciation 8,000 Accounts payable 2,800 Income tax payable 14,000 Interest payable 750 Notes payable   30,000 Common stock ($1.00 par - 1,000,000 shares authorized,10,000 shares issued and outstanding) 10,000 Paid-in Capital in Excess of Par-Common 10,000 Dividends 4,000 Merchandise Sales Revenue 27,500 Sales...
Trial balance Debit Credit Cash 15300 Accounts receivable 10800 Inventory 1/1/20 3800 Prepaid insurance 2000 Equipment...
Trial balance Debit Credit Cash 15300 Accounts receivable 10800 Inventory 1/1/20 3800 Prepaid insurance 2000 Equipment 37000 Accumulated depreciation 5600 Notes payable 1500 Accounts payable 6100 Unpaid salaries 3600 Share capital 3000 Retained earnings 10600 Dividends 5300 Sale 81000 Purchase of inventory 24600 Market cost 4600 Insurance 3500 Salaries 18000 Total 124900 124900 The inventory costing was 1500. Notes payable was taken at the beginning of 2018 to five years, 5% interest, the interests are paid at the beginning of...
Unadjusted Trial Balance December 31, 2019 Debit Credit Cash 165,200 Office Supplies/Lures 8,500 Prepaid Insurance 2,900...
Unadjusted Trial Balance December 31, 2019 Debit Credit Cash 165,200 Office Supplies/Lures 8,500 Prepaid Insurance 2,900 Equipment - Boat 17,000 Accounts Payable 4,500 Unearned Service Revenue 21,000 Notes Payable 15,000 Common Stock 14,000 Additional Paid in Capital - CS 134,000 Service Revenue 32,000 Unearned Revenue- Gain on Sale 400 Interest Expense 300 Salaries Expense 11,000 Utilities Expense 3,000 Boat Gas Expense 13,000 Total 220,900 220,900 Prepare Adjusting Journal Entries The 3/1/19 Notes Payable principle from First Hawaiian Bank is due...
TAMARISK GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit Credit Cash $17,550 Accounts Receivable 14,700 Allowance...
TAMARISK GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit Credit Cash $17,550 Accounts Receivable 14,700 Allowance for Doubtful Accounts $1,200 Prepaid Insurance 9,500 Land 353,200 Buildings 150,000 Accumulated Depreciation-Buildings 48,000 Equipment 196,500 Accumulated Depreciation-Equipment 91,700 Common Stock 381,500 Retained Earnings 158,117 Dues Revenue 204,200 Green Fees Revenue 5,703 Rent Revenue 17,600 Utilities Expenses 58,420 Salaries and Wages Expense 82,100 Maintenance and Repairs Expense 26,050 $908,020 $908,020 From the trial balance and the information given below, prepare annual adjusting entries. (1)...
Presented below is the trial balance of Nash Corporation at December 31, 2017. Debit Credit Cash...
Presented below is the trial balance of Nash Corporation at December 31, 2017. Debit Credit Cash $   201,180 Sales $ 8,104,150 Debt Investments (trading) (cost, $145,000) 157,150 Cost of Goods Sold 4,800,000 Debt Investments (long-term) 303,180 Equity Investments (long-term) 281,180 Notes Payable (short-term) 94,150 Accounts Payable 459,150 Selling Expenses 2,004,150 Investment Revenue 67,230 Land 264,150 Buildings 1,044,180 Dividends Payable 140,180 Accrued Liabilities 100,150 Accounts Receivable 439,150 Accumulated Depreciation-Buildings 152,000 Allowance for Doubtful Accounts 29,150 Administrative Expenses 904,230 Interest Expense 215,230 Inventory...
Presented below is the trial balance of Gilead Pharmaceuticals at December 31, 2017. Debit Credit Cash...
Presented below is the trial balance of Gilead Pharmaceuticals at December 31, 2017. Debit Credit Cash 295,000 Sales Revenue $12,150 Debt Investments (trading) (at cost, $218,000) 230,000 Cost of Goods Sold 7,200 Debt Investments (long-term) 448,000 Equity Investments (long-term) 416,000 Notes Payable (short-term) 135,000 Accounts Payable 682,000 Selling Expenses 3,000,000 Investment Revenue 95,000 Land 390,000 Buildings 1,560,000 Dividends Payable 204,000 Accrued Liabilities 144,000 Accounts Receivable 652,000 Accumulated Depreciation–Buildings 228,000 Allowance for Doubtful Accounts 38,000 Administrative Expenses 1,350,000 Interest Expense 317,000...
Presented below is the trial balance of Marigold Corporation at December 31, 2017. Debit Credit Cash...
Presented below is the trial balance of Marigold Corporation at December 31, 2017. Debit Credit Cash $   200,620 Sales $ 8,104,760 Debt Investments (trading) (cost, $145,000) 157,760 Cost of Goods Sold 4,800,000 Debt Investments (long-term) 302,620 Equity Investments (long-term) 280,620 Notes Payable (short-term) 94,760 Accounts Payable 459,760 Selling Expenses 2,004,760 Investment Revenue 66,470 Land 264,760 Buildings 1,043,620 Dividends Payable 139,620 Accrued Liabilities 100,760 Accounts Receivable 439,760 Accumulated Depreciation-Buildings 152,000 Allowance for Doubtful Accounts 29,760 Administrative Expenses 903,470 Interest Expense 214,470 Inventory...
Presented below is the trial balance of Splish Corporation at December 31, 2017. Debit Credit Cash...
Presented below is the trial balance of Splish Corporation at December 31, 2017. Debit Credit Cash $   200,230 Sales $ 8,104,580 Debt Investments (trading) (cost, $145,000) 157,580 Cost of Goods Sold 4,800,000 Debt Investments (long-term) 302,230 Equity Investments (long-term) 280,230 Notes Payable (short-term) 94,580 Accounts Payable 459,580 Selling Expenses 2,004,580 Investment Revenue 67,550 Land 264,580 Buildings 1,043,230 Dividends Payable 139,230 Accrued Liabilities 100,580 Accounts Receivable 439,580 Accumulated Depreciation-Buildings 152,000 Allowance for Doubtful Accounts 29,580 Administrative Expenses 904,550 Interest Expense 215,550 Inventory...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT