4. Salini Poirot began operations as a private investigator on January 1, 2017. The trial balance...
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4. Salini Poirot began operations as a private investigator on January 1, 2017. The trial balance columns of the worksheet for Salini Poirot, P.I., SA at March 31 are as follows. SALINI POIROT, P.I., SA Un-adjusted Trial Balance For the Quarter Ended March 31, 2017 Dr. Account Titles Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Share Capital-Ordinary Dividends Service Revenue Salaries and Wages Expense Travel Expense Rent Expense Miscellaneous Expense Additional Information Total 11,410 5,920 1,250 2,400 15,000 600 2,240 1,300 1,200 230 41,550 Cr. a. Supplies on hand total Br. 500. b. Depreciation is Br. 680 per quarter. c. Interest accrued on 6-month note payable, issued January 1, Br. 300. d. Insurance expires at the rate of Br. 200 per month. e. Services performed but unbilled at March 31 total Br. 1,080. 10,000 7,350 14,000 10,200 41550 Instructions (2 pts) a) Enter the trial balance on a worksheet and complete the worksheet. b) Prepare an income statement and a retained earnings statement for the quarter and a classed statement of Financial position at March 31. c) Journalize the adjusting entries from the adjustments columns of the worksheet. d) Journalize the closing entries from the financial statement columns of the worksheet 4. Salini Poirot began operations as a private investigator on January 1, 2017. The trial balance columns of the worksheet for Salini Poirot, P.I., SA at March 31 are as follows. SALINI POIROT, P.I., SA Un-adjusted Trial Balance For the Quarter Ended March 31, 2017 Dr. Account Titles Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Share Capital-Ordinary Dividends Service Revenue Salaries and Wages Expense Travel Expense Rent Expense Miscellaneous Expense Additional Information Total 11,410 5,920 1,250 2,400 15,000 600 2,240 1,300 1,200 230 41,550 Cr. a. Supplies on hand total Br. 500. b. Depreciation is Br. 680 per quarter. c. Interest accrued on 6-month note payable, issued January 1, Br. 300. d. Insurance expires at the rate of Br. 200 per month. e. Services performed but unbilled at March 31 total Br. 1,080. 10,000 7,350 14,000 10,200 41550 Instructions (2 pts) a) Enter the trial balance on a worksheet and complete the worksheet. b) Prepare an income statement and a retained earnings statement for the quarter and a classed statement of Financial position at March 31. c) Journalize the adjusting entries from the adjustments columns of the worksheet. d) Journalize the closing entries from the financial statement columns of the worksheet
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Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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