Question

In: Accounting

Prepare an adjusted Trial balance Accounts Payable- 88,851 Accounts receivable- 442,120 Accumulated depreciation: building- 1,265 Accumulated...

Prepare an adjusted Trial balance

Accounts Payable- 88,851

Accounts receivable- 442,120

Accumulated depreciation: building- 1,265

Accumulated depreciation: equipment- 9,900

Advertising Expense- 9,240

Allowance for doubtful accounts- 75,000

Allowance to Reduce Inventory to NRV- 16,000

Bad Debt Expense- 75,000

Bonds Payable- 700,000

Building- 37,500

Cash- 834,544

Common stock- 135,000

Depreciation Expense- 11,165

Dividends- 28,000

Equipment- 21,600

Impairment Loss Expense- 5,000

Income Taxes Expense- 99,000

Income taxes payable- 99,000

Insurance Expense- 22,500

Interest Expense- 31,171

Interest Payable- 35,000

Inventory- 70,000

Land- 88,000

Notes Payable- 0

Office Expense- 28,500

Paid In Capital- Treasury Stock- 6,000

Patent- 45,000

PIC in Excess of Par- Common Stock- 130,000

Premium on Bonds Payable- 52,045

Prepaid insurance- 4,500

Purchases- 177,000

Rent Revenue- 4,500

Retained earnings- 0

Sales Revenue- 790,000

Treasury Stock- 10,000

Unearned rent revenue- 9,000

Utilities Expense- 33,571

Wages Expense- 66,150

Wages Payable-4,000

Solutions

Expert Solution

Adjusted Trial Balance
Cash $834544
Accounts receivable- 442120
Allowance for doubtful accounts 75000
Inventory 70000
Allowance to Reduce Inventory to NRV 16000
Prepaid insurance 4500
Land- 88000
Building 37500
Accumulated depreciation: building 1265
Equipment 21600
Accumulated depreciation: equipment 9900
Patent 45000
Accounts Payable 88851
Interest Payable- 35000
Income taxes payable 99000
Wages Payable 4000
Unearned rent revenue 9000
Bonds Payable 700000
Premium on Bonds Payable 52045
Common stock 135000
PIC in Excess of Par- Common Stock 130000
Paid In Capital- Treasury Stock 6000
Retained earnings
Treasury Stock 10000
Dividends 28000
Sales Revenue 790000
Rent Revenue 4500
Purchases 177000
Wages Expense 66150
Bad Debt Expense- 75000
Office Expense 28500
Insurance Expense 22500
Advertising Expense 9240
Depreciation Expense 11165
Interest Expense 31171
Loss on Inventory 16000
Utilities Expense 33571
Impairment Loss Expense 5000
Income Taxes Expense 99000
Total 2155561 2155561

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

Prepare the Adjusted Trial Balance Accounts Payable – 65,340 Accounts Receivable – 190,300 Accumulated Depreciation (Building)...
Prepare the Adjusted Trial Balance Accounts Payable – 65,340 Accounts Receivable – 190,300 Accumulated Depreciation (Building) – 5,400 Accumulated Depreciation (Equipment – 29,359 Accumulated other comprehensive income – 15,000 Additional Paid in Capital – Treasury Stock – 21,000 Advertising Expense – 8,400 Allowance for Doubtful Accounts – 25,000 Bad Debt Expense – 25,000 Bonds Interest Expense – 43,088 Bonds Payable - $1,600,000 Building – 150,000 Cash – 1,270,676 Common Stock – 101,000 Depreciation Expense – 33,759 Dividends – 41,000 Employee...
Account Balance Accounts Payable* $62,000 Accounts Receivable* $41,000 Accumulated Depreciation – PPE* $116,000 Accumulated Other Comprehensive...
Account Balance Accounts Payable* $62,000 Accounts Receivable* $41,000 Accumulated Depreciation – PPE* $116,000 Accumulated Other Comprehensive Income $17,000 Additional Paid in Capital $159,000 Amortization Expense $5,000 Cash and Cash Equivalents * $79,000 Common Stock $6,000 Cost of Goods Sold $1,650,000 Depreciation Expense $20,000 Dividends $8,000 Gain on Sale of Discontinued Operations $60,000 Gain on Sale of Held-To-Maturity Securities $1,000 Goodwill* $26,000 Impairment of Intangible Assets $40,000 Interest Expense $10,000 Interest Revenue $2,000 Inventory* $88,000 Long-Term Debt $115,000 Long-Term Investments* $18,000...
Accounts payable $33,110 Merchandise inventory $34,360 Accounts receivable 13,570 Mortgage payable 106,000 Accumulated depreciation—building 61,200 Prepaid...
Accounts payable $33,110 Merchandise inventory $34,360 Accounts receivable 13,570 Mortgage payable 106,000 Accumulated depreciation—building 61,200 Prepaid insurance 4,500 Accumulated depreciation—equipment 19,880 Property tax expense 3,500 Building 175,000 Purchases 627,700 B. Hachey, capital 104,480 Purchase discounts 6,800 B. Hachey, drawings 12,700 Purchase returns and allowances 13,315 Cash 22,460 Rent revenue 3,700 Depreciation expense 14,100 Salaries expense 121,000 Equipment 57,000 Salaries payable 8,500 Freight in 5,060 Sales 875,000 Freight out 8,200 Sales discounts 8,290 Insurance expense 9,000 Sales returns and allowances 9,845...
Accounts and balances from the adjusted trial balance of Stark Company. Notes payable $ 11,000 Accumulated...
Accounts and balances from the adjusted trial balance of Stark Company. Notes payable $ 11,000 Accumulated depreciation-Buildings $ 15,000 Prepaid insurance 2,500 Accounts receivable 4,000 Interest expense 500 Utilities expense 1,300 Accounts payable 1,500 Interest payable 100 Wages payable 400 Unearned revenue 800 Cash 10,000 Supplies expense 200 Wages expense 7,500 Buildings 40,000 Insurance expense 1,800 Stark, Withdrawals 3,000 Stark, Capital 24,800 Depreciation expense-Buildings 2,000 Services revenue 20,000 Supplies 800 Please. Prepare the (1) income statement and (2) statement of...
REQUIRED: Prepare General Ledger, Accounts Receivable Ledger, Accounts Payable Ledger, Trial Balance, Schedule of Accounts Receivable...
REQUIRED: Prepare General Ledger, Accounts Receivable Ledger, Accounts Payable Ledger, Trial Balance, Schedule of Accounts Receivable and Schedule of Accounts Payable from the following information and Journals using T Accounts with a balance column. Grassley Company completes these transactions during November of the current year (terms for all its credits sales are 2/10, n/30). Nov.1 Purchased $5,058 of office equipment on credit from Brun supply, invoice dated November 1, terms n/10 EOM. 2 Borrowed $88, 500 cash from Wisconsin Bank...
The following selected accounts appear in the adjusted trial balance for Bender Company: 1 .Accumulated Depreciation...
The following selected accounts appear in the adjusted trial balance for Bender Company: 1 .Accumulated Depreciation 5. Supplies 2 .Depreciation Expense 6. Accounts Payable 3 .J. Bender, Capital 7. Service Revenue 4 .J. Bender, Drawings Instructions Identify the accounts that would be included in the post-closing trial balance.
Prepare Income Statement and Balance Sheet from the following Accounts payable 249,750 Accounts receivable 777,000 Accumulated...
Prepare Income Statement and Balance Sheet from the following Accounts payable 249,750 Accounts receivable 777,000 Accumulated depreciation 416,250 Advertising expense 55,500 Allowance for doubtful accounts 57,665 Bad debt expense 41,070 Capital gains 12,210 Capital stock (common) 999,000 Cash 376,623 Charitable contributions 29,970 Compensation expense 1,443,000 Cost of goods sold 921,300 Depreciation expense 22,200 Dividends (paid) 88,800 Dividends (received) 13,320 Entertainment expense 6,771 Equipment 832,500 Federal income tax expense 278,388 Gain from disposition of fixed assets 4,496 Interest expense 68,820 Interest...
Prepare Income Statement and Balance Sheet from the following Accounts payable 249,750 Accounts receivable 777,000 Accumulated...
Prepare Income Statement and Balance Sheet from the following Accounts payable 249,750 Accounts receivable 777,000 Accumulated depreciation 416,250 Advertising expense 55,500 Allowance for doubtful accounts 57,665 Bad debt expense 41,070 Capital gains 12,210 Capital stock (common) 999,000 Cash 376,623 Charitable contributions 29,970 Compensation expense 1,443,000 Cost of goods sold 921,300 Depreciation expense 22,200 Dividends (paid) 88,800 Dividends (received) 13,320 Entertainment expense 6,771 Equipment 832,500 Federal income tax expense 278,388 Gain from disposition of fixed assets 4,496 Interest expense 68,820 Interest...
Accounts payable $       40,000 Accounts receivable           33,000 Accumulated depreciation—buildings           25,000 Ac
Accounts payable $       40,000 Accounts receivable           33,000 Accumulated depreciation—buildings           25,000 Accumulated depreciation—equipment           20,000 Advertising Expense             4,500 Bonds payable, due December 31, 2024         260,000 Buildings         180,000 Capital stock, $1 par value         220,000 Cash           92,120 Commission Expense             8,400 Cost of Goods Sold           31,480 Depreciation Office             2,970 Equipment           75,500 Income Tax Expense             7,150 Income taxes payable             3,860 Insurance Expense Sales Auto             3,200 Interest Expense             1,550 Interest payable...
prepare unadjusted trial balance, adjusted trial balance Accounts Receivable: April 30 1,300 Balance, April 30 1,300...
prepare unadjusted trial balance, adjusted trial balance Accounts Receivable: April 30 1,300 Balance, April 30 1,300 Lawn and Garden Supplies: April 2 6,000 April 24 500 Lawn and Garden Supplies Expense 4,650 Balance, April 30 850 Office Supplies: April 6 500 Office Supplies Expense 350 Balance, April 30 150 Prepaid Rent: April 1 4,000 Rent Expense 1,000 Balance, April 30 3,000 Prepaid Insurance: April 8 1,600 Insurance Expense 400 Balance, April 30 1,200 Security Deposit: Rent April 1 1,500 Balance,...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT