Noah's Foods has a fiscal year ending on September 30. Selected data from the September 30 work
Question:
Instructions
(a) Prepare a complete work sheet.
(b) Prepare a statement of financial position. (In the next fiscal year, $ 10,000 of the mortgage payable is due for payment.)
(c) Journalize the adjusting entries, using data in the work sheet.
(d) Journalize the closing entries, using data in the worksheet.
(e) Prepare a post-closing trial balance.
Transcribed Image Text:
NOAH'S FOODS Work Sheet For the Year Ended September 30, 2014 Trial Balance Adjusted Trial Balance Dr Cr Dr. 37,400 1,500 3,600 13,500 62,800 120,000 Cr Cash Supplies Prepaid insurance FV-OCI investments Land Equipment Accumulated depreciation-equipment Accounts payable Unearned revenue Mortgage payable Common shares Retained earnings Dividends Sales revenue Salaries and wages expense Maintenance and repairs expense Utilities expense 37, 400 18,600 31,900 17.200 62,800 120,000 36,200 14,600 2,700 0,000 50,000 59,700 41,000 14,600 1,700 50,000 50,000 59,700 14,000 14,000 278,500 279,500 109,000 30,500 26,300 109,000 30,500 26,300 Trial Balance Dr. 8,000 6,000 Adjusted Trial Balance Cr. Dr. 21,000 12,200 Cr. Property tax expense Interest expense Totals 491,700 491,700 28,300 Insurance expense Supplies expense Interest payable Depreciation expense Property tax payable Unrealized gain or loss cl Totals 6,200 3,000 505,700 505,700 17,100 4,800 3,700
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NOAHS FOODS Work Sheet For the Year Ended September 30 2014 Account Titles Trial Balance Adjustments Adjusted Trial Balance Stmt of Comp Income Stmt of Financial Position Dr Cr Dr Cr Dr Cr ...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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