Enter the changes for each journal entry made on the trial balance.$\text{'}-$If it increased the balance of the account add the amount, if it reduced the balance of the account subtract the amount 'Creat e Financial Statements using the Updated Trial Balance in the Excel Doc $\text{'}-$ Use formulas for all calculations

Purple Cow Vineyard

$$Trial Balance

$$For the month ending

$1$

$2$

$/$

$3$

$1$

$/$

$2$

$0$

$2$

$3$

$$

$$ Debit Credit Change Updated Debit Updated Credit Purple Cow Vineyard

$$Wells Fargo Bank $

$5$

$0$

$0$

$,$

$0$

$0$

$0$

$$ $

$5$

$0$

$0$

$,$

$0$

$0$

$0$

$$ Income Statement

$$Accounts Receivable

$2$

$0$

$0$

$,$

$0$

$0$

$0$

$$ $

$2$

$0$

$0$

$,$

$0$

$0$

$0$

$$ Month Ending December

$3$

$1$

$,$

$2$

$0$

$2$

$3$

$$

$$Inventory

$1$

$5$

$0$

$,$

$0$

$0$

$0$

$$ $

$1$

$5$

$0$

$,$

$0$

$0$

$0$

$$

$$Prepaid Expenses

$5$

$,$

$0$

$0$

$0$

$$ $

$5$

$,$

$0$

$0$

$0$

$$

$$Machinery and Equipment

$3$

$5$

$0$

$,$

$0$

$0$

$0$

$$ $

$3$

$5$

$0$

$,$

$0$

$0$

$0$

$$

$$Vehicles

$1$

$0$

$0$

$,$

$0$

$0$

$0$

$$ $

$1$

$0$

$0$

$,$

$0$

$0$

$0$

$$

$$Building

$1$

$0$

$0$

$,$

$0$

$0$

$0$

$$ $

$1$

$0$

$0$

$,$

$0$

$0$

$0$

$$

$$Accumulated Depreciation

$2$

$3$

$5$

$,$

$0$

$0$

$0$

$$ $

$2$

$3$

$5$

$,$

$0$

$0$

$0$

$$

$$Land

$9$

$5$

$5$

$,$

$0$

$0$

$0$

$$ $

$9$

$5$

$5$

$,$

$0$

$0$

$0$

$$

$$Accounts Payable

$4$

$5$

$0$

$,$

$0$

$0$

$0$

$$ $

$4$

$5$

$0$

$,$

$0$

$0$

$0$

$$

$$Interest Payable

$1$

$5$

$,$

$0$

$0$

$0$

$$ $

$1$

$5$

$,$

$0$

$0$

$0$

$$

$$Loan Payable

$($

Due

$1$

$2$

$/$

$3$

$1$

$/$

$2$

$0$

$2$

$5$

$)$

$1$

$5$

$0$

$,$

$0$

$0$

$0$

$$ $

$1$

$5$

$0$

$,$

$0$

$0$

$0$

$$

$$Retained Earnings

$7$

$0$

$0$

$,$

$0$

$0$

$0$

$$ $

$7$

$0$

$0$

$,$

$0$

$0$

$0$

$$

$$Owners Draw

$3$

$6$

$5$

$,$

$0$

$0$

$0$

$$ $

$3$

$6$

$5$

$,$

$0$

$0$

$0$

$$

$$Owner$\text{'}$s Contributions

$5$

$0$

$0$

$,$

$0$

$0$

$0$

$$ $

$5$

$0$

$0$

$,$

$0$

$0$

$0$

$$

$$Grape Sales

$8$

$0$

$0$

$,$

$0$

$0$

$0$

$$ $

$8$

$0$

$0$

$,$

$0$

$0$

$0$

$$

$$Tour Revenue

$4$

$0$

$0$

$,$

$0$

$0$

$0$

$$ $

$4$

$0$

$0$

$,$

$0$

$0$

$0$

$$

$$Depreciation Expense

$4$

$5$

$,$

$0$

$0$

$0$

$$ $

$4$

$5$

$,$

$0$

$0$

$0$

$$

$$Vineyard Supplies Expense

$1$

$2$

$5$

$,$

$0$

$0$

$0$

$$ $

$1$

$2$

$5$

$,$

$0$

$0$

$0$

$$

$$Insurance Expense

$1$

$5$

$0$

$,$

$0$

$0$

$0$

$$ $

$1$

$5$

$0$

$,$

$0$

$0$

$0$

$$

$$Interest Expense

$2$

$0$

$,$

$0$

$0$

$0$

$$ $

$2$

$0$

$,$

$0$

$0$

$0$

$$

$$Payroll Tax Expense

$1$

$0$

$,$

$0$

$0$

$0$

$$ $

$1$

$0$

$,$

$0$

$0$

$0$

$$

$$Wage Expense

$1$

$0$

$0$

$,$

$0$

$0$

$0$

$$ $

$1$

$0$

$0$

$,$

$0$

$0$

$0$

$$

$$Utilities

$7$

$5$

$,$

$0$

$0$

$0$

$$ $

$7$

$5$

$,$

$0$

$0$

$0$

$$

$$Totals $

$3$

$,$

$2$

$5$

$0$

$,$

$0$

$0$

$0$

$$ $

$3$

$,$

$2$

$5$

$0$

$,$

$0$

$0$

$0$

$$ $

$-$

$$ $

$3$

$,$

$2$

$5$

$0$

$,$

$0$

$0$

$0$

$$ $

$3$

$,$

$2$

$5$

$0$

$,$

$0$

$0$

$0$

Date

Account

Debit

Credit

$12-01-2023$

Wells Fargo Bank

$$25,000$

Loan Payable

$$25,000$

$12-04-2023$

Machinery and Equipment

$$50,000$

Wells Fargo Bank

$$50,000$

$12-06-2023$

Accounts Receivable

$$10,000$

Grape Sales

$$10,00< Step by Step Solution There are 3 Steps involved in it 1 Expert Approved Answer Step: 1 Unlock Question Has Been Solved by an Expert! Get step-by-step solutions from verified subject matter experts Step: 2 Unlock Step: 3 Unlock Students Have Also Explored These Related Accounting Questions! Q: Journal Entry 1 Create Journal Entries in excel spreadsheet 2 Enter the changes for each journal entry made on the trial balance. - If it increased the balance of the account add the amount, if it... Q: 1. Make all 16 adjustments on the "Adjusting Journal Entries" tab. Remember to include a description under each journal entry. ABC Corporation Unadjusted Trial Balance December 31, 2014 Credit $... Q: THE FOLLOWING INFORMATION IN THE FIRST PICTURE APPLIES TO THE PICTURED QUESTIONS BELOW: (THIS IS AN EIGHT PART QUESTION) PREPARE AN UNADJUSTED TRAIL BALANCE RECORD ADJUSTING JOURNAL ENTRY PREPARE AN... Q: Instruction: Encircle the letter of the correct answer in each of the given question. 1. The first step in the accounting process is- a) record transactions in the journal b) post journal entries to... Q: create an extern journal entry, general ledger and trial balance for the following The November 30 trial balance is for reference only. The amounts posted are the beginning balances in the December... Q: 1. Explain pacioli's opinion on the role of Profit and add your opinion on it. 2. How can we define the "reasonable profit"? Is it related to the goal of business? If yes, how is it related? If no,... Q: Not sure where I went wrong in the first question. Also can someone help with the journal entry and the adjusted trial balance for the same transaction. Thanks! Brothers Harry and Herman Hausyerday... Q: Mr . Nikola Tesla launched Tesla Supermart on December 1 , 2 0 x 1 with a cash investment of 1 5 0 , 0 0 0 . The following are additional transactions for the month: 2 Equipment valued at 2 0 , 0 0 0... Q: Mr . Nikola Tesla launched Tesla Supermart on December 1 , 2 0 x 1 with a cash investment of 1 5 0 , 0 0 0 . The following are additional transactions for the month: 2 Equipment valued at 2 0 , 0 0 0... Q: Mr . Nikola Tesla launched Tesla Supermart on December 1 , 2 0 x 1 with a cash investment of 1 5 0 , 0 0 0 . The following are additional transactions for the month: 2 Equipment valued at 2 0 , 0... Q: Gunderson Lutheran Health System in La Crosse, Wisconsin, is a health care delivery company that includes a 325-bed hospital, several specialty medical practices, and 41 clinics. In a recent year,... Q: Thompson Company's total electricity cost for the past 20 months is $42,000. An activity measure on which to base estimates of electricity cost is needed. The two activity measures being considered... Q: ( a ) what according to cranston is shadow banking ( c ) what type of regulation, as discussed by cranston appears most appropriate here? Q: https://media.cheggcdn.com/media/e59/e5900ba1-02b0-44ab-8246-fb980e24e7c1/phpDkQ6Ux Q: 8. The social desirability of any particular firm should be judged not on the basis of its market share but on the basis of its conduct and performance. Make a counterargument, referring to the... Q: 9. What types of industries, if any, should be subjected to industrial regulation? What specific problems does industrial regulation entail? LO21.3 Q: 6. In the 1980s, PepsiCo Inc., which then had 28 percent of the soft-drink market, proposed to acquire the Seven-Up Company. Shortly thereafter, the Coca-Cola Company, with 39 percent of the market,... Previous Question Next Question Recommended Textbook More Books Survey of Accounting Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi 3rd Edition 978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856 Ask a Question and Get Instant Help! Study Help Services Sitemap Fun Definitions Become Tutor Used Textbooks Study Help Categories Recent Questions Expert Questions Campus Wear Sell Your Books Company Info Security Copyrights Privacy Policy Terms & Conditions SolutionInn Fee Scholarship Online Quiz Give Feedback, Get Rewards Get In Touch About Us Contact Us Career Jobs FAQ Student Discount Campus Ambassador Secure Payment Download Our App © 2026 SolutionInn. All Rights Reserved $