From the following Company B adjusted trial balance, prepare simple financial statements, as follows: Adjusted Trial Balance
Question:
From the following Company B adjusted trial balance, prepare simple financial statements, as follows:
Transcribed Image Text:
Adjusted Trial Balance Cash Accounts Receivable Supplies Accounts Payable Tax Payable Common Stock Fee Earned Revenue Operating Expense Debit $ 35,300 16,750 12,650 81,700 $146,400 Credit $ 20,850 3,000 30,000 92,550 $146,400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
Income Statement For the Period Ended Revenues Fee Earned Revenue 92550 Expenses Oper...View the full answer
Answered By
Labindao Antoque
I graduated in 2018 with a Bachelor of Science degree in Psychology from Dalubhasaan ng Lungsod ng San Pablo. I tutored students in classes and out of classes. I use a variety of strategies to tutor students that include: lecture, discussions about the subject matter, problem solving examples using the principles of the subject matter being discussed in class , homework assignments that are directed towards reinforcing what we learn in class , and detailed practice problems help students to master a concept. I also do thorough research on Internet resources or textbooks so that I know what students need to learn in order to master what is being taught in class .
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
From the following Company B adjusted trial balance, prepare simple financial statements, as follows: A. Income Statement B. Retained Earnings Statement C. Balance Sheet Adjusted Trial Balance Debit...
-
From the following Company A adjusted trial balance, prepare simple financial statements, as follows: A. Income Statement B. Retained Earnings Statement C. Balance Sheet Adjusted Trial Balance Debit...
-
From the following Company Y adjusted trial balance, prepare simple financial statements, as follows: A. Income Statement B. Retained Earnings Statement C. Balance Sheet Adjusted Trial Balance Debit...
-
The slurry of Prob. 29.3 is to be filtered in a press having a total area of 8 m 2 and operated at a constant pressure drop of 2 atm. The frames are 36 mm thick. Assume that the filter medium...
-
Suppose a firm pollutes a stream that has a recreational value only when pollution is below a certain level. If transaction costs are low, why does the assignment of property rights to the stream...
-
A valuable resource in which we typically forbid voluntary exchange is votes. This may be inefficient in that, as we have seen, given any initial endowment of resources, voluntary exchange always...
-
An article in the New York Times noted that these new ZIP codes were created in New York City: 10065, 10021, 10075. Find the mean of these three numbers. What is fundamentally wrong with this result?
-
You have just won the state lottery and have two choices for collecting your winnings. You can collect $50,000 today or receive $10,100 per year for the next seven years. A financial analyst has told...
-
For each account listed below, can you identify where it would be listed on the Balance Sheet (under Assets vs. Liabilities vs. Stockholders' Equity section)? For example, intangible assets would be...
-
Scenario: You are an accountant at Rock Castle Construction. Your boss has asked that you create general purpose financial statements from a trial balance that he has created for you. Additionally,...
-
Using the following account balances, calculate for the two years presented: A. Working capital B. Current ratio Unearned revenue Cash Prepaid rent Supplies Taxes payable Wages payable 12/31/2018...
-
Using the following account balances, calculate: A. Working capital B. Current ratio Cash Accounts Receivable Prepaid Insurance Accounts Payable Salaries Payable Common Stock Service Revenue...
-
The dynamic viscosities of carbon dioxide at 50C and 200C are 1.612 10 -5 Pas and 2.276 10 -5 Pas, respectively. Determine the constants a and b of Sutherland correlation for carbon dioxide at...
-
Stambaugh and Yuan (2017) developed a four-factor model. They added two new factors to the market and size factors. How did they construct these new factors? In empirical tests of over 80 anomalies,...
-
Hou et al. (2015) developed a model that is very close to the Fama and French four-factor model. Write the equation for their model. What is the theoretical foundation for their model? What did they...
-
At what point in the sequence of events in Table 6.4 is the ownership interest affected? Table 6.4 Transactions of a manufacturing company July 1 July 3 July 4 July 5 July 10 July 10 Purchase raw...
-
London Business Schools Entrepreneur Society recently held a dinner dance. The original (static) budget and actual results were as follows: 1. Subdivide each variance into a sales-activity variance...
-
1. Discuss trends in First Solars revenue streams. For more information about First Solars results, you may want to consult the Management Discussion and Analysis in its Form 10-K for 2017, available...
-
In preparing the financial statements for the year ended 31 December 20X5 Alpha plc discovers the following, all of which are material in the context of the company's results: Development...
-
Which of the following streaming TV devices does not involve use of a remote controller? A) Google Chromecast B) Apple TV C) Amazon Fire TV D) Roku
-
Define the functions of marketing in your own words. Using an example, explain how they can be shifted and shared.
-
Online computer shopping at websites makes it possible for individual consumers to get direct information from hundreds of companies they would not otherwise know about. Co n sumers can place an...
-
Explain why a small producer might want a marketing research firm to take over some of its informationgathering activities.
-
You have a stock solution of 2 0 X TBE Buffer. 2 0 X refers to the solute concentration of the stock relative to the final working concentration. How would you prepare 1 liter of TBE Buffer at...
-
When dealing with simple interest accounts, determine the missing piece: 1. The annual simple interest rate for a loan of 85 days requiring $96.90 interest on principal of $1095 is 2. The principal...
-
The free body diagram, the forces are acting on a 3.10 kg object. The x-axis is tilted down from the horizontal by 18.9 degrees. The magnitudes of the three forces are given by: Force F1: 97.0 N...
Study smarter with the SolutionInn App