complete the Excel where the semi circle is to make the last two columns balance? complete the
Fantastic news! We've Found the answer you've been seeking!
Question:
complete the Excel where the semi circle is to make the last two columns balance?
complete the adjusting journal entries and the closing entries?
Transcribed Image Text:
Account Titles Cash Accounts receivable Merchandise inventory Office supplies Store supplies Prepaid insurance Office equipment Accumulated depreciation-Office Equipment Store Equipment Accumulated depreciation-Store Equipment Accounts payable J. Spark, Capital J. Spark, Withdrawals Sales revenue Sales returns and allowances Sales discounts Cost of Goods Sold Depreciation expense - Office Equipment Depreciation expense - Store Equipment Office supplies expense Store supplies expense nsurance expense Rent expense -Selling space Rent expense -Office space Salaries expense- Sales Salaries expense-Office Utilities expense - Electric Totals Net Income Unadjusted Trial Balance Dr. Cr. 155,205 31,970 54,660 1,248 3,104 1,659 5,720 16,580 7,000 175 350 99,910 2,968 742 10,640 6,300 1,283 399,514 658 2,268 96,882 132,534 167,172 399,514 OF MOT Adjustments Dr. 329 567 504 2,632 553 4,585 Cr. 504 2632 553 329 567 Adjusted Trial Balance Dr. Cr. 155,205 31,970 54,660 744 472 1,106 5,720 16,580 7,000 175 350 99,910 329 567 504 2,632 553 2,968 742 10,640 6,300 1,283 4,585 400,410 987 2,835 96.882 132,534 167,172 400,410 Income Statement Dr. Cr. 7000 167,172 Balance Sheet & Statement of Owner's Equity Dr. Cr. 155,205 31,970 54,660 1,248 3,104 1,659 5,720 16,580 175 350 99,910 329 567 504 2,632 553 2,968 742 10,640 6,300 1,283 133,953 167,172 270,146 33,219 167,172 167,172 270,146 987 2,835 96,882 132,534 233,238 33,219 266,457 Account Titles Cash Accounts receivable Merchandise inventory Office supplies Store supplies Prepaid insurance Office equipment Accumulated depreciation-Office Equipment Store Equipment Accumulated depreciation-Store Equipment Accounts payable J. Spark, Capital J. Spark, Withdrawals Sales revenue Sales returns and allowances Sales discounts Cost of Goods Sold Depreciation expense - Office Equipment Depreciation expense - Store Equipment Office supplies expense Store supplies expense nsurance expense Rent expense -Selling space Rent expense -Office space Salaries expense- Sales Salaries expense-Office Utilities expense - Electric Totals Net Income Unadjusted Trial Balance Dr. Cr. 155,205 31,970 54,660 1,248 3,104 1,659 5,720 16,580 7,000 175 350 99,910 2,968 742 10,640 6,300 1,283 399,514 658 2,268 96,882 132,534 167,172 399,514 OF MOT Adjustments Dr. 329 567 504 2,632 553 4,585 Cr. 504 2632 553 329 567 Adjusted Trial Balance Dr. Cr. 155,205 31,970 54,660 744 472 1,106 5,720 16,580 7,000 175 350 99,910 329 567 504 2,632 553 2,968 742 10,640 6,300 1,283 4,585 400,410 987 2,835 96.882 132,534 167,172 400,410 Income Statement Dr. Cr. 7000 167,172 Balance Sheet & Statement of Owner's Equity Dr. Cr. 155,205 31,970 54,660 1,248 3,104 1,659 5,720 16,580 175 350 99,910 329 567 504 2,632 553 2,968 742 10,640 6,300 1,283 133,953 167,172 270,146 33,219 167,172 167,172 270,146 987 2,835 96,882 132,534 233,238 33,219 266,457
Expert Answer:
Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
The adjusted trial balance of Business Reduction Systems at March 31, 2016, follows: Requirements 1. Journalize the required closing entries at March 31, 2016. 2. Set up T-accounts for Income...
-
Quick Networking Systems adjusts and closes its books and then prepares financial statements monthly. Quick uses the perpetual inventory system. The company completed the following transactions...
-
The adjusted trial balance of Business Reduction Systems at March 31, 2016, follows: Prepare Business Reductions single-step income statement for the year ended March 31, 2016. BUSINESS REDUCTION...
-
Why is an increase in price more likely to decrease the total revenue of a seller in the long run than in the short run?
-
The controller of the plant of Berry Building Supplies prepared a graph of the unit costs from the job cost reports for Product X-S1. The graph appeared as follows: How would you interpret this...
-
Part B: In-text Citations (6 marks total: 2 marks each) Task: For each question below, compose a sentence with correctly formatted APA in-text citations using the given requirements and information....
-
Following are data for four different audit populations to which variables sampling will be applied: Required: Calculate sample size for each population. Assume sampling without replacement and do...
-
Moore, Aiken, and Payne is a critical care dental clinic serving the emergency needs of the general public on a first-come, first-served basis. The clinic has five dental chairs, three of which are...
-
Income Statements For the Years Ended December 31, 2020 and 2019 2020 2019 $ $ Operating revenues- Note 1 ? 1,944,000 Less: Cost of goods sold 968,000 960,000 Gross Profit 1,124,800 984,000 Operating...
-
On February 1, 2014, Punto Company purchased 95% of the outstanding common stock of Sara Company and 85% of the outstanding common stock of Rob Company. Immediately before the two acquisitions,...
-
Find sailors with a higher rating than all sailors younger than 21 A. Write a SQL query to answer the question using OP ALL B. Write a SQL query Close (Ctrl+X) question using NOT EXISTS C. Consider...
-
Determine the important guidelines in preparing written business messages. Explain the purpose of each said guideline.
-
3. List five behaviors the character displays throughout the play (at least one must be a positive behavior). 4. List three healthier coping mechanisms the character could have done differently,...
-
3) If the price level in the US is 110, the price level in Britain is 115, and the nominal exchange rate is 1.5 pounds (Britain's currency) per dollar, what is the real exchange rate from the US...
-
Find the reserve ratio and change in money supply if the change in reserves is 500 and money multiplier is 4. The Federal Reserve has instituted a reserve ratio of 12%, what is the money multiplier?...
-
Describe what the PPF Curve represents and explain the relationship between the vertical axis representing one good or service and the horizontal axis representing another good or service.
-
An IPO can end up at a share price of either 3 or 10. As discussed in the class example, there are two bidders, informed and uninformed. Two shares are offered and the bidders can bid for up to two...
-
What are three disadvantages of using the direct write-off method?
-
(a) When should a long-term investment in ordinary shares be accounted for by the equity method? (b) When is revenue recognized under this method?
-
Nestlé's financial statements are presented in Appendix B. Financial statements for Petra Foods are presented in Appendix C. Instructions (a) Based on the information contained in the...
-
In its income statement for the year ended December 31, 2017, Mancini Company, SpA reported the following condensed data. Operating expenses............... 725,000..............Interest...
-
Water is to be used to absorb acetone from a dilute mixture with air in a tower packed with 3.5-in. metal Pall rings. Average conditions in the tower are: \[\text { Temperature }=25^{\circ}...
-
Propane gas at \(300 \mathrm{psia}\) and \(150^{\circ} \mathrm{F}\) is sent to an expansion turbine with an efficiency of \(80 \%\). What is the lowest outlet pressure that can be achieved without...
-
Liquid oxygen is stored in a tank at \(-298^{\circ} \mathrm{F}\) and 35 psia. It is to be pumped at \(100 \mathrm{lb} / \mathrm{s}\) to a pressure of \(300 \mathrm{psia}\). The liquid oxygen level in...
Study smarter with the SolutionInn App