Cash Month Day 1 1 Jan. Jan. Jan. Jan. Jan. 15 Jan. 17 Jan. 24 ACCOUNTS...

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Cash Month Day 1 1 Jan. Jan. Jan. Jan. Jan. 15 Jan. 17 Jan. 24 ACCOUNTS RECEIVABLE Month Day Debit 17 31 Jan. Jan. INVENTORY GENERAL LEDGER Debit Jan. Jan. SUPPLIES Month Jan. Jan. BUILDING Jan. LAND 3 Month Day Debit Jan. 2 Jan. 17 PREPAID INSURANCE Month Day Debit 3 31 Day Debit 4 31 Month Day Debit Jan. 1,000,000 40,000 15,000 15,000 4 45,000 17,000 50,000 3,600 Month Day Debit 1 2,400 1 200,000 100,000 Credit 60,000 3,600 2,400 Credit Credit 20,000 Credit Credit Credit Credit 300 900 Balance Balance Debit Credit 1,000,000 940,000 936,400 934,000 974,000 989,000 1,004,000 Balance Balance Debit Credit 45,000 62,000 Balance Balance Debit Credit 50,000 30,000 Balance Balance Debit Credit 3,600 3,300 Balance Balance Debit Credit 2,400 1,500 Balance Balance Debit Credit 200,000 Balance Balance Debit Credit 100,000 ACCUMULATED DEPRECIATION Credit Month Day Debit 31 Jan. ACCOUNTS PAYABLE Month Day Debit Jan. 2 31 Jan. 31 SALARIES AND WAGES PAYABLE Credit Month Day Debit 31 Jan. DIVIDENDS PAYABLE Month Day Debit 29 Jan. DEFERRED REVENUE Month Day Debit Jan. 15 Jan. 31 MORTGAGES PAYABLE Month Day Debit 1 Jan. COMMON STOCK Month Day Debit 1 Month Day Debit 29 Jan. DIVIDENDS Jan. SALES REVENUE Month 16,000 Jan. 1,000 Day Debit 17 3,200 Credit 50,000 1,100 20,000 3,500 Credit 1,000 Credit 40,000 Credit 240,000 Credit 1,000,000 Credit Credit 60,000 Balance Balance Debit Credit Balance Debit Balance Debit Balance Debit Balance Debit Balance Debit Balance Debit Balance Balance Credit Debit 1,000 Balance Balance Debit Credit 3,200 Balance Credit 50,000 51,100 71,100 Balance Credit Balance Credit Balance Credit 3,500 1,000 40,000 24,000 Balance Credit 240,000 Balance Credit 1,000,000 60,000 Ⓒ SERVICE REVENUE Month Day Debit Jan. 24 Jan. 31 Jan. 31 COST OF GOODS SOLD Month Day Debit Credit Jan. 17 20,000 SALARIES AND WAGES EXPENSE Credit Month Day Debit 31 Jan. 3,500 DEPRECIATION EXPENSE Month Day Debit Credit Jan. 31 SUPPLIES EXPENSE Date Day Debit Credit Jan. 31 INTEREST EXPENSE Credit Credit Credit 3,200 Date Day Debit 31 Jan. INSURANCE EXPENSE Date Day Debit 31 Jan. INCOME TAX EXPENSE Date Day Debit 31 Jan. 900 1,100 300 20,000 Credit 15,000 16,000 17,000 Balance Debit Balance Debit Balance Credit 15,000 31,000 48,000 Balance Credit 20,000 Balance Balance Debit Credit 3,500 Balance Balance Debit Credit 3,200 Balance Balance Debit Credit 900 Balance Balance Debit Credit 1,100 Balance Balance Debit Credit 300 Balance Balance Debit Credit 20,000 TLKT Company Income Statement For the month of January 20X1 Revenues: Service Revenue Sales Revenue Total Revenue Expenses: Cost of goods sold Salaries and wages expense Depreciation expense Supplies expense Interest expense Insurance expense Income tax expense Total Expenses Net Income X TLKT Company Statement of Retained Earnings For the month of January 20X1 Retained Earnings January 1, 20X1 Add: Net Income Less: Dividends Retained Earnings January 31, 20X1 X TLKT Company Balance Sheet 1/31/20X1 Assets Current Assets Cash Accounts Receivable Inventory Prepaid Insurance Supplies Total Current Assets Property Plant, and Equipment, net Total Assets Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Salaries and wages payable Dividends Payable Deferred Revenue Total Current Liabilities Long-term Liabilities Mortgages Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity X TLKT Company Statement of Cash Flows For the month of January 20X1 Cash flows from operating activities Net income Increase in Accounts receivable Increase in Inventory Increase in Prepaid expenses Increase in supplies Depreciation Increase in Accounts Payable Increase in Salaries and Wages payable Increase in deferred revenue Net cash flow provided by (used in) operating activities Cash flows from investing activities Purchase of Building & Land with cash Net cash flow provided by (used in)investing activities Cash flows from financing activities Issuance of Common Stock for Cash Net cash flow provided by (used in)investing activities Net increase (decrease) in cash Beginning Balance of Cash Ending Balance of cash Adjustments to Net income XXXXX X TLT Corporation Trial Balance 1/31/20X1 Cash Accounts Receivable Inventory Prepaid Insurance Supplies Building Land Accumulated Depreciation Accounts Payable Salaries and wages payable Dividends Payable Deferred Revenue Mortgage Payable Common Stock Dividends Sales Revenue Service Revenue Cost of goods sold Salaries and wages expense Depreciation expense Supplies expense Interest expense Insurance expense Income tax expense Account Title. Unadjusted Trial Balance Debit 1,004,000 62,000 30,000 3,300 1,500 200,000 100,000 1,000 20,000 3,500 3,200 900 1,100 300 20,000 1,450,800 Credit 3,200 50,000 Feedback XOO0 3,500 Ⓒ 1,000 24,000 Ⓒ 240,000 1,000,000 60,000 48,000 1,450,800 Cash Month Day 1 1 Jan. Jan. Jan. Jan. Jan. 15 Jan. 17 Jan. 24 ACCOUNTS RECEIVABLE Month Day Debit 17 31 Jan. Jan. INVENTORY GENERAL LEDGER Debit Jan. Jan. SUPPLIES Month Jan. Jan. BUILDING Jan. LAND 3 Month Day Debit Jan. 2 Jan. 17 PREPAID INSURANCE Month Day Debit 3 31 Day Debit 4 31 Month Day Debit Jan. 1,000,000 40,000 15,000 15,000 4 45,000 17,000 50,000 3,600 Month Day Debit 1 2,400 1 200,000 100,000 Credit 60,000 3,600 2,400 Credit Credit 20,000 Credit Credit Credit Credit 300 900 Balance Balance Debit Credit 1,000,000 940,000 936,400 934,000 974,000 989,000 1,004,000 Balance Balance Debit Credit 45,000 62,000 Balance Balance Debit Credit 50,000 30,000 Balance Balance Debit Credit 3,600 3,300 Balance Balance Debit Credit 2,400 1,500 Balance Balance Debit Credit 200,000 Balance Balance Debit Credit 100,000 ACCUMULATED DEPRECIATION Credit Month Day Debit 31 Jan. ACCOUNTS PAYABLE Month Day Debit Jan. 2 31 Jan. 31 SALARIES AND WAGES PAYABLE Credit Month Day Debit 31 Jan. DIVIDENDS PAYABLE Month Day Debit 29 Jan. DEFERRED REVENUE Month Day Debit Jan. 15 Jan. 31 MORTGAGES PAYABLE Month Day Debit 1 Jan. COMMON STOCK Month Day Debit 1 Month Day Debit 29 Jan. DIVIDENDS Jan. SALES REVENUE Month 16,000 Jan. 1,000 Day Debit 17 3,200 Credit 50,000 1,100 20,000 3,500 Credit 1,000 Credit 40,000 Credit 240,000 Credit 1,000,000 Credit Credit 60,000 Balance Balance Debit Credit Balance Debit Balance Debit Balance Debit Balance Debit Balance Debit Balance Debit Balance Balance Credit Debit 1,000 Balance Balance Debit Credit 3,200 Balance Credit 50,000 51,100 71,100 Balance Credit Balance Credit Balance Credit 3,500 1,000 40,000 24,000 Balance Credit 240,000 Balance Credit 1,000,000 60,000 Ⓒ SERVICE REVENUE Month Day Debit Jan. 24 Jan. 31 Jan. 31 COST OF GOODS SOLD Month Day Debit Credit Jan. 17 20,000 SALARIES AND WAGES EXPENSE Credit Month Day Debit 31 Jan. 3,500 DEPRECIATION EXPENSE Month Day Debit Credit Jan. 31 SUPPLIES EXPENSE Date Day Debit Credit Jan. 31 INTEREST EXPENSE Credit Credit Credit 3,200 Date Day Debit 31 Jan. INSURANCE EXPENSE Date Day Debit 31 Jan. INCOME TAX EXPENSE Date Day Debit 31 Jan. 900 1,100 300 20,000 Credit 15,000 16,000 17,000 Balance Debit Balance Debit Balance Credit 15,000 31,000 48,000 Balance Credit 20,000 Balance Balance Debit Credit 3,500 Balance Balance Debit Credit 3,200 Balance Balance Debit Credit 900 Balance Balance Debit Credit 1,100 Balance Balance Debit Credit 300 Balance Balance Debit Credit 20,000 TLKT Company Income Statement For the month of January 20X1 Revenues: Service Revenue Sales Revenue Total Revenue Expenses: Cost of goods sold Salaries and wages expense Depreciation expense Supplies expense Interest expense Insurance expense Income tax expense Total Expenses Net Income X TLKT Company Statement of Retained Earnings For the month of January 20X1 Retained Earnings January 1, 20X1 Add: Net Income Less: Dividends Retained Earnings January 31, 20X1 X TLKT Company Balance Sheet 1/31/20X1 Assets Current Assets Cash Accounts Receivable Inventory Prepaid Insurance Supplies Total Current Assets Property Plant, and Equipment, net Total Assets Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Salaries and wages payable Dividends Payable Deferred Revenue Total Current Liabilities Long-term Liabilities Mortgages Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity X TLKT Company Statement of Cash Flows For the month of January 20X1 Cash flows from operating activities Net income Increase in Accounts receivable Increase in Inventory Increase in Prepaid expenses Increase in supplies Depreciation Increase in Accounts Payable Increase in Salaries and Wages payable Increase in deferred revenue Net cash flow provided by (used in) operating activities Cash flows from investing activities Purchase of Building & Land with cash Net cash flow provided by (used in)investing activities Cash flows from financing activities Issuance of Common Stock for Cash Net cash flow provided by (used in)investing activities Net increase (decrease) in cash Beginning Balance of Cash Ending Balance of cash Adjustments to Net income XXXXX X TLT Corporation Trial Balance 1/31/20X1 Cash Accounts Receivable Inventory Prepaid Insurance Supplies Building Land Accumulated Depreciation Accounts Payable Salaries and wages payable Dividends Payable Deferred Revenue Mortgage Payable Common Stock Dividends Sales Revenue Service Revenue Cost of goods sold Salaries and wages expense Depreciation expense Supplies expense Interest expense Insurance expense Income tax expense Account Title. Unadjusted Trial Balance Debit 1,004,000 62,000 30,000 3,300 1,500 200,000 100,000 1,000 20,000 3,500 3,200 900 1,100 300 20,000 1,450,800 Credit 3,200 50,000 Feedback XOO0 3,500 Ⓒ 1,000 24,000 Ⓒ 240,000 1,000,000 60,000 48,000 1,450,800

Answer rating: 100% (QA)

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