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In: Accounting

The AHMADO company’s’ record showed the alphabetical order of the accounts as follows: Accounts payable            SR20             &nb

The AHMADO company’s’ record showed the alphabetical order of the accounts as follows:

Accounts payable            SR20                                                     

Accounts receivable       SR12                                                     

Accumulated depreciation – computer SR5        

Ahmed Capital SR30                                                                     

Ahmed Withdrawal         SR10                                                     

Cash      SR 51                                                                                    

Computer           SR50     

Prepaid insurance            SR 7

Service revenue                               SR70

Supplies               SR 5

Unearned revenues       SR15

Utilities expense              SR 15

Wages                  SR 10

Required:

  • Prepare the trial balance by listing the accounts in correct order with balances in appropriate debit or credit column
  • Adjust accounts, if you have the following facts:
    • Expired Insurance SR 5.
    • Estimated depreciation on office computer SR 5.
    • Accrued wages SR 5
    • Unused supplies on hands   SR 3.
    • SR 5 Of the unearned revues balance had been earned by the end of the month.
  • Prepare income statement
  • Prepare balance sheet
  • Use worksheet to answer

Solutions

Expert Solution

Note: The trial balance items provided does not balance the un-adjusted trial balance, it appears some item is missing, hence assumed Wages Payable of $20 to balance the trial balance

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ekkarill92 answered 1 year ago
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