Instructions PLEASE READ THEM CAREFULLY

• The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
• Submissions without this cover page will NOT be accepted.

Q2. Both the unadjusted trial balance and adjusted trial balance for Smith Corporation on December 31, 2013, are listed below: (2 mark)

Smith Corporation Trial Balance December 31, 2013
	Unadjusted		Adjusted
	Debit	Credit	Debit	Credit
Cash Accounts Receivables Supplies Prepaid Insurance Land Vehicles Accumulated Depreciation-Vehicles Notes Payable Wages Payable Common Stock Dividends Revenue Wages Expense Utilities Expense Insurance Expense Rent Expense Depreciation Expense Supplies Expense	8,000 19,000 6,000 10,000 13,000 20,000 4,000 12,000 4,000 0 4,000 0 0	4,000 13,000 0 46,000 37,000	8,000 21,000 5,000 6,000 13,000 20,000 4,000 13,000 4,000 4,000 4,000 1,000 1,000	5,000 13,000 1,000 46,000 39,000
	100,000	100,000	104,000	104,000

Required: Prepare the five adjusting entries required at December 31, 2013.

Answer:

Q3. From the following information of NaNo Company prepare a multi-step income statement For the Year Ended December 31, 2019 (2 marks)

Sales $137,460

Sales Returns $2,060

Sales Discounts $5,190

Cost of Goods Sold $62,990

Freight-Out $6,150

Advertising Expense $5,790

Sales Commissions Expense $3,470

Office Salaries Expense $18,510

Office Rent Expense $14,000

Office Supplies Expense $5,330

Gains on Sale Equipment $2,430

Loss on Sales of Investments $1,640

Interest Expense $930

Answer: