Complete the work sheet by extending the Adjusted Trial Balance amounts into the appropriate financial statement...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Complete the work sheet by extending the Adjusted Trial Balance amounts into the appropriate financial statement columns and by entering the amount of net income for the reporting period. Work Sheet Account Number Adjusted Trial Balance Income Statement Account Title Debit Credit Debit Credit Debit Balance Sheet Credit 101 Cash $ 6,300 106 Accounts receivable 27,531 166 Equipment 43,000 167 Accumulated depreciation Equipment $ 17,286 183 Land 30,000 201 Accounts payable 14,679 210 Wages payable 3,358 236 Unearned revenue 2,758 307 Common stock 11,614 318 Retained earnings 55,500 319 Dividends 9,804 403 Services revenue 61,000 $ 9,804 612 Depreciation expense-Equipment 5,762 $ 61,000 623 Wages expense 28,548 5,762 655 Advertising expense 9,272 28,548 690 Utilities expense 5,978 9,272 Totals $ 166,195 $166,195 104,582 9,804 0 0 Net income 94,778 Complete the work sheet by extending the Adjusted Trial Balance amounts into the appropriate financial statement columns and by entering the amount of net income for the reporting period. Work Sheet Account Number Adjusted Trial Balance Income Statement Account Title Debit Credit Debit Credit Debit Balance Sheet Credit 101 Cash $ 6,300 106 Accounts receivable 27,531 166 Equipment 43,000 167 Accumulated depreciation Equipment $ 17,286 183 Land 30,000 201 Accounts payable 14,679 210 Wages payable 3,358 236 Unearned revenue 2,758 307 Common stock 11,614 318 Retained earnings 55,500 319 Dividends 9,804 403 Services revenue 61,000 $ 9,804 612 Depreciation expense-Equipment 5,762 $ 61,000 623 Wages expense 28,548 5,762 655 Advertising expense 9,272 28,548 690 Utilities expense 5,978 9,272 Totals $ 166,195 $166,195 104,582 9,804 0 0 Net income 94,778
Expert Answer:
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
Students also viewed these accounting questions
-
As an organizer of a new Muay Thai tournament in the city of Madrid, Spain, create the budget necessary to finance such an event (expenses + revenue). Additionally, develop a Mission and Vision...
-
Question 1 (20 points): In research whose objective is to compare access to financing for innovative versus non-innovative SMEs and to demonstrate that accepted applications are identical, the...
-
The Adjusted Trial Balance columns of a work sheet for Planta Company follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by...
-
A jet is traveling westward with the sun directly overhead (the jet is on a line between the sun and the center of the Earth). How fast must the jet fly in order to keep the sun directly overhead?...
-
Give the coordinates of the y-intercept of each graph. a. b. c. d. -intercept: 103 r-intereept: 108 -50 1sp -intereept:-100 -inlercept:-90
-
An object is dropped from the top of a 100-m tower. Its height above ground after t sec is 100 - 4.9t 2 m. How fast is it falling 2 sec after it is dropped?
-
Why do capital campaigns start with a lengthy silent period? What is the board s role in a successful capital campaign?
-
Mr. Larry Leininger donated $3,000,000 to a nongovernment VHWO on June 17, 20X8. 1. Assume that no restrictions are placed on the use of the donated resources. a. Prepare the required June 17, 20X8,...
-
How can a company use its sourcing/procurement team (resource) to effectively manage the company's marketing spend?
-
Use mesh analysis to find ix in Fig. 13.80, Where is = 4 cos(600t) A and vs = 110 cos(600t + 30º) 12 F 150 800 mH 600 mH
-
The Keynesian approach fell out of favor 50 years ago, and now we are in a very different phase of monetary policy with administered rates. However, the Keynesian approach and a regime of...
-
What are the mechanisms of DNA replication and repair specific to eukaryotic chromosomes, and how do they ensure faithful transmission of genetic information during cell division while minimizing the...
-
How can I paraphrase this block of writing so not to plagiarism Therefore, evidence-based feedback has to be approached from a scientific perspective. I have seen the oppression of new nurses within...
-
Righton's export market of frozen food is South Africa, which has recently imposed a 40% tariff on imported products of frozen food in order to protect its local industry. The imposition of this...
-
As a new parent, you would like to start setting aside some money to pay for your child's college tuition costs in the future. You estimate that you will need a total of $100,000 in eighteen years to...
-
Which of the two models do you think is more reasonable (Constant DDM or Non-constant DDM) and WHY?
-
Assume the variable us cabinet refers to a dictionary that maps department names to department heads. Write a statement that assigns the value 'Randolph' to the key 'Justice Department'. 1 Enter your...
-
Respond to the ethical judgments required based on the following scenarios. Scenario 1. Assume you have collected a sample using MUS and that you have evaluated that sample to calculate a total...
-
Basilex Company produces its product through a single processing department. Direct materials are added at the beginning of the process. Direct labor and overhead are added to the product evenly...
-
Review the 2009 balance sheet for Nokia in Appendix A and list the amounts for treasury shares and retained earnings.
-
Describe how each of the following characteristics of organizations applies to corporations. 1. Duration of life 2. Owner liability 3. Legal status 4. Tax status of income 5. Owner authority and...
-
Explain the general format and give examples of the data that would appear on (a) a sales order, (b) a bill of materials, and (c) a job order cost sheet.
-
Why can we say that the sale of a manufactured product is recorded at two different amounts?
-
Lyle Manufacturing Company applies manufacturing overhead at the rate of 150% of direct labor cost. During October 2019, Lyle incurred \($82,000\) of direct labor costs and \($120,000\) of...
Study smarter with the SolutionInn App