Question

In: Accounting

The following is the adjusted trial balance for Nadia Company. Nadia Company Adjusted Trial Balance December...

The following is the adjusted trial balance for Nadia Company.

Nadia Company
Adjusted Trial Balance
December 31
Account No. Debit Balances Credit Balances
Cash 11 5,130
Accounts Receivable 12 3,300
Prepaid Expenses 13 420
Equipment 18 12,400
Accumulated Depreciation 19 2,200
Accounts Payable 21 700
Notes Payable (due on June 30) 22 3,070
Nadia Porter, Capital 31 13,000
Nadia Porter, Drawing 32 700
Fees Earned 41 10,930
Wages Expense 51 2,450
Rent Expense 52 1,900
Utilities Expense 53 1,475
Depreciation Expense 54 1,150
Miscellaneous Expense 59 975
Totals 29,900 29,900

Assume that the capital account started with a beginning balance of $10,000 and that the owner made an additional investment of $3,000 during the period.

Prepare an Income Statement.

Nadia Company
Income Statement
For the Year Ended December 31
$
Expenses:
$
Total expenses
$

Prepare a Statement of Owner's Equity.

Nadia Company
Statement of Owner's Equity
For the Year Ended December 31
$
$
$

Prepare a Balance Sheet.

Nadia Company
Balance Sheet
December 31
Assets
Current assets
$
Total current assets $
Property, plant, and equipment
$
Total property, plant, and equipment $
Total assets $
Liabilities
Current liabilities
$
Total liabilities $
Owner's Equity
$
Total liabilities and owner's equity $

Solutions

Expert Solution

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

The following is the Easton Company adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31,...
The following is the Easton Company adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665 Accounts Receivable 232,400 Supplies 17,000 Equipment 395,000 Accumulated Depreciation $224,260 Accounts Payable 72,555 Capital Stock 220,000 Retained Earnings 127,145 Service Revenue 881,105 Interest Income 5,500 Dividends 9,000 Rent Expense 59,500 Wages Expense 529,000 Supplies Expense 42,000 Utilities Expense 8,000 Depreciation Expense 150,000 ________ Totals $1,530,565 $1,530,565 Use this information to prepare the Single-Step Income Statement for the...
The following is the Frederick Company's adjusted Trial Balance. Frederick Company Adjusted Trial Balance December 31,...
The following is the Frederick Company's adjusted Trial Balance. Frederick Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $85,150 Accounts Receivable 229,140 Supplies 16,955 Equipment 395,285 Accumulated Depreciation $221,260 Accounts Payable 74,235 Capital Stock 220,000 Retained Earnings 101,145 Service Revenue 893,105 Interest Income 1,500 Dividends 2,000 Rent Expense 58,500 Wages Expense 527,260 Supplies Expense 42,520 Utilities Expense 8,595 Depreciation Expense 145,840 ________      Totals $1,522,565 $1,522,565 Use this information to prepare the Balance Sheet for the fiscal...
12. The following is the Weston Company's adjusted Trial Balance. Weston Company Adjusted Trial Balance December...
12. The following is the Weston Company's adjusted Trial Balance. Weston Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665 Accounts Receivable 232,000 Supplies 17,000 Equipment 395,000 Accumulated Depreciation $224,260 Accounts Payable 72,555 Capital Stock 220,000 Retained Earnings 127,145 Service Revenue 877,105 Interest Income 5,500 Dividends 7,000 Rent Expense 59,900 Wages Expense 529,000 Supplies Expense 40,000 Utilities Expense 8,000 Depreciation Expense 150,000 ________ Totals $1,526,565 $1,526,565 Use this information to prepare the Balance Sheet for the...
1. The following is the Frederick Company's adjusted Trial Balance. Frederick Company Adjusted Trial Balance December...
1. The following is the Frederick Company's adjusted Trial Balance. Frederick Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $85,150 Accounts Receivable 229,140 Supplies 16,955 Equipment 395,285 Accumulated Depreciation $221,260 Accounts Payable 74,235 Capital Stock 220,000 Retained Earnings 101,145 Service Revenue 893,105 Interest Income 1,500 Dividends 2,000 Rent Expense 58,500 Wages Expense 527,260 Supplies Expense 42,520 Utilities Expense 8,595 Depreciation Expense 145,840 ________ Totals $1,522,565 $1,522,565 Use this information to prepare the Balance Sheet for the...
The following is the Frederick Company's adjusted Trial Balance. Frederick Company Adjusted Trial Balance December 31,...
The following is the Frederick Company's adjusted Trial Balance. Frederick Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $85,150 Accounts Receivable 229,140 Supplies 16,955 Equipment 395,285 Accumulated Depreciation $221,260 Accounts Payable 74,235 Capital Stock 220,000 Retained Earnings 101,145 Service Revenue 893,105 Interest Income 1,500 Dividends 2,000 Rent Expense 58,500 Wages Expense 527,260 Supplies Expense 42,520 Utilities Expense 8,595 Depreciation Expense 145,840 ________ Totals $1,522,565 $1,522,565 Use this information to prepare the Balance Sheet for the fiscal...
The following is the Easton Company's adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31,...
The following is the Easton Company's adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665 Accounts Receivable 232,000 Supplies 17,000 Equipment 395,000 Accumulated Depreciation $224,260 Accounts Payable 72,555 Capital Stock 220,000 Retained Earnings 127,145 Service Revenue 877,105 Interest Income 5,500 Dividends 7,000 Rent Expense 59,900 Wages Expense 529,000 Supplies Expense 40,000 Utilities Expense 8,000 Depreciation Expense 150,000 ________      Totals $1,526,565 $1,526,565 Use this information to prepare the Balance Sheet for the fiscal...
The following is the Easton Company's adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31,...
The following is the Easton Company's adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665 Accounts Receivable 232,000 Supplies 17,000 Equipment 395,000 Accumulated Depreciation $224,260 Accounts Payable 72,555 Capital Stock 220,000 Retained Earnings 127,145 Service Revenue 877,105 Interest Income 5,500 Dividends 7,000 Rent Expense 59,900 Wages Expense 529,000 Supplies Expense 40,000 Utilities Expense 8,000 Depreciation Expense 150,000 ________ Totals $1,526,565 $1,526,565 Use this information to prepare the Balance Sheet for the fiscal...
The following is the Easton Company's adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31,...
The following is the Easton Company's adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665 Accounts Receivable 232,000 Supplies 17,000 Equipment 395,000 Accumulated Depreciation $224,260 Accounts Payable 72,555 Capital Stock 220,000 Retained Earnings 127,145 Service Revenue 877,105 Interest Income 5,500 Dividends 7,000 Rent Expense 59,900 Wages Expense 529,000 Supplies Expense 40,000 Utilities Expense 8,000 Depreciation Expense 150,000 ________ Totals $1,526,565 $1,526,565 Use this information to prepare the Balance Sheet for the fiscal...
The adjusted trial balance of King Cornelius Company follows: KING CORNELIUS COMPANY Adjusted Trial Balance December...
The adjusted trial balance of King Cornelius Company follows: KING CORNELIUS COMPANY Adjusted Trial Balance December 31, 2014 Cash $ 5,600 Accounts receivable 37,100 Inventory 25,800 Supplies 1,300 Prepaid rent 1,000 Furniture 26,500 Accumulated depreciation $ 23,800 Accounts payable 6,300 Salary payable 2,000 Interest payable 600 Unearned sales revenue 2,400 Note payable, long-term 35,000 K. Cornelius, Capital 22,200 K. Cornelius, Drawing 48,000 Sales revenue 244,000 Interest revenue 2,000 Sales discounts 10,000 Sales returns and allowances 8,000 Cost of goods sold...
The adjusted trial balance for Cowboy Company follows: Cowboy Company Adjusted Trial Balance December 31, 2019...
The adjusted trial balance for Cowboy Company follows: Cowboy Company Adjusted Trial Balance December 31, 2019 ACCOUNT NAME DEBIT CREDIT Cash       101,100 Accounts Receivable           5,000 Prepaid Rent           2,200 Building       120,000 Accumulated Depreciation - Building         80,000 Accounts Payable           3,000 Salaries Payable           5,600 Interest Payable           4,500 Unearned Revenue           9,500 Notes Payable         50,000 Cowboy, Capital         70,000 Cowboy, Withdrawals         30,000 Fees Earned       115,000 Wages Expense         40,000 Rent Expense         26,400...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT