Question: Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO C3, A1, P1, P2, P3 [The following information applies to

 Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and

preparing financial statements LO C3, A1, P1, P2, P3 [The following information

applies to the questions displayed below. A six-column table for JKL Company

follows. The first two columns contain the unadjusted trial balance for the

company as of July 31, 2017. The last two columns contain the

Required information Problem 3-4A Interpreting unadjusted and adjusted trial balances, and preparing financial statements LO C3, A1, P1, P2, P3 [The following information applies to the questions displayed below. A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Unadjusted Trial Balance $ 102, 080 9,000 17,800 6,640 86,000 $ 24,000 10, 100 ces Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accum. Depreciation Office equip. Accounts payable Interest payable Salaries payable Vnearned consulting fees Long-term notes payable J. Logan, Capital J. Logan, Withdrawals Consulting fees earned Depreciation expense-Office equip. Salaries expense Interest expense Insurance expense Rent expense Office supplies expense Advertising expense Totals 22,000 54,000 46,000 Adjusted Trial Balance $ 102, 080 19,000 5,000 3, 760 86,000 $ 38,000 18,000 2,000 13,000 13,000 54,000 46,000 6,000 186, 000 14,000 80, 140 3, 280 2, 880 14,820 12, 800 20, 240 $ 370,000 $370,000 6,000 167,000 67, 140 1, 280 14, 820 12, 340 323,100 $ $323, 100 Problem 3-4A Part 2 2(a-1) Prepare JKL Company's income statement for the year ended July 31, 2017 2(a-2) Prepare JKL Company's statement of owner's equity for the year ended July 31, 2017. Note: J. Logan, Capital at July 31, 2016, was $46,000, and the current-year withdrawals were $6,000. 2(b) Prepare JKL Company's the balance sheet as of July 31, 2017 Complete this question by entering your answers in the tabs below. Reg 2A1 Req 242 Reg 2B Prepare JKL Company's income statement for the year ended July 31, 2017. JKL COMPANY Income Statement For Year Ended July 31, 2017 Req 2A1 Req 2A2 > Req 241 Req 242 Reg 2B Prepare JKL Company's statement of owner's equity for the year ended July 31, 2017. Note: J. Logan, Capital at July 31, 2016, was $46,000, and the current-year withdrawals were $6,000. JKL COMPANY Statement of Owner's Equity For Year Ended July 31, 2017 J. Logan, Capital, July 31, 2016 J. Logan, Capital, July 31, 2017 S 0 Req 2A1 Req 2B > Reg 2A1 Req 242 Reg 2B Prepare JKL Company's the balance sheet as of July 31, 2017. JKL COMPANY Balance Sheet July 31, 2017 S 0

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
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:

\f