Consider the unadjusted trial balance of Fabuloso, Inc. at December 31, 2016, and the related month-end...
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Consider the unadjusted trial balance of Fabuloso, Inc. at December 31, 2016, and the related month-end adjustment data. O (Click the icon to view the month-end adjustment data.) Requirements 1. Using the worksheet, prepare the adjusted trial balance of Fabuloso, Inc. at December 31, 2016. The unadjusted balances have been entered for you. Key each adjusting entry by letter. 2. Prepare the single-step monthly income statement, the statement of retained earnings, and the classified balance sheet. Requirement 1. Using the worksheet, prepare the adjusted trial balance of Fabuloso, Inc., at December 31, 2016. The unadjusted balances have been entered for you. Key each adjusting entry by letter. Calculate the total debits and credits. Then calculate the adjusted balance of each account and total the debit and credit columns in the adjusted trial balance. Fabuloso, Inc. Trial Balance Work Sheet December 31, 2016 Trial Balance Adjustments Choose from any list or enter any number in the input fields and then continue to the next question. ? a 10:29 PM 底 ) 6/21/2017 hp More Info Adjustment data at December 31, 2016: a. Accrued service revenue at December 31, $2,550. b. Prepaid rent expired during the month. The unadjusted prepaid balance of $1,200 relates to the period December 1, 2016 through February 28, 2017. c. Supplies used during December, $1,400. d. Depreciation on furniture for the month. The estimated useful life of the furniture is five years. e. Accrued salary expense at December 31 for Monday, Tuesday and Wednesday. The five-day weekly payroll of $26,000 will be paid on Friday. Consider the unadjusted trial balance of Fabuloso, Inc. at December 31, 2016, and the related month-end adjustment data. O (Click the icon to view the month-end adjustment data.) Requirements 1. Using the worksheet, prepare the adjusted trial balance of Fabuloso, Inc. at December 31, 2016. The unadjusted balances have been entered for you. Key each adjusting entry by letter. 2. Prepare the single-step monthly income statement, the statement of retained earnings, and the classified balance sheet. Requirement 1. Using the worksheet, prepare the adjusted trial balance of Fabuloso, Inc., at December 31, 2016. The unadjusted balances have been entered for you. Key each adjusting entry by letter. Calculate the total debits and credits. Then calculate the adjusted balance of each account and total the debit and credit columns in the adjusted trial balance. Fabuloso, Inc. Trial Balance Work Sheet December 31, 2016 Trial Balance Adjustments Choose from any list or enter any number in the input fields and then continue to the next question. ? a 10:29 PM 底 ) 6/21/2017 hp More Info Adjustment data at December 31, 2016: a. Accrued service revenue at December 31, $2,550. b. Prepaid rent expired during the month. The unadjusted prepaid balance of $1,200 relates to the period December 1, 2016 through February 28, 2017. c. Supplies used during December, $1,400. d. Depreciation on furniture for the month. The estimated useful life of the furniture is five years. e. Accrued salary expense at December 31 for Monday, Tuesday and Wednesday. The five-day weekly payroll of $26,000 will be paid on Friday.
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Answer rating: 100% (QA)
Adjusting Entries 31Dec16 Debit Credit Accounts Receivables 2550 Service Revenue 2550 Rent Expense 4... View the full answer
Related Book For
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo-Ann L. Johnston, Peter R. Norwood
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