Question: Show the mathematical steps Show the effect on the I/s and the B/S Prepare the adjusting entries. *The records of Cairo firm show the following

*The records of Cairo firm show the following balances at the end

Show the mathematical steps
Show the effect on the I/s and the B/S
Prepare the adjusting entries.

*The records of Cairo firm show the following balances at the end of year 2019: Salaries and wages 3300 47000 Insurance Expense 55000 12000 Rent expense 19500 Electricity Expense 22000 48000 Given that: 1- monthly rent is 1500. 2- monthly salaries and wages 3000 3- earned services revenue 13000 4- monthly insurance is 5000 services revenue Commission revenue debit interest 4000 Advertising Expense 5- unearned commission revenue 2500 6- monthly electricity bill is 2000 7- monthly advertising expense 4000 Required: 1- show the mathematical steps 2- show the effect on I/s and B/S 3- prepare the adjusting entries.

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!

Winner Company stocks interior pre-hung doors purchased from a vendor from China. A typical door is purchased for $44.50 and sells for $58. It is estimated that the cost of order processing and...

Chapter 1 Introduction to Accounting NAME ___________________________________________________ DATE _______________________________ 1. Which of the following events would be recorded as an accounting...

i need all Journal entries for chapter 4 only see the file Instructions City of Bingham Computerized Cumulative Problem For use with McGraw-Hill/Irwin Accounting for Governmental & Nonprofit Entities...

HI. I'm having difficulty with these 4 questions of my comm217 Financial Accounting assignment. Is anyone able to help? Kamil's Car Repair Shop Ltd. started the year with total assets of $70,000 and...

List and explain 5 key business risks which would impact on the audit of JB Hi-Fi. Include the account and assertion most affected by the risks identified. Be sure to link audit risks to their...

Assignment in attachment. Very simple assignment. Question 1 Cost of goods sold is determined only at the end of the accounting period in both a perpetual and a periodic inventory system. neither a...

I need your help with some accounting questions. Please see attachment! Question 1 Denver Hair Stylist's adjusted trial balance and income statement follow. Prepare Denver's statement of owner's...

Find the de Broglie wavelength of hydrogen molecules, which corresponds to their most probable velocity at room temperature.

Below is a sample of your bowling scores. (A perfect score is 300): 130, 99, 190, 40, 290, 130, 115 a. Determine the mean, the median and the mode for the data. Interpret each of these three measures...

Which level of the conceptual framework is devoted to recognition and measurement concepts? 1 st 3 rd 2 nd 4 th

Lyon Company has the following transactions in the current year. Assuming that all of the transactions are material, which of them will most likely have no effect on current year net income? a. The...

Explain how the rejection region is determined for a hypothesis test. How does it differ between one and twotailed tests?

1. Regarding the tax treatment of a business's research and experimental (R&E) expenditures, which of the following statements is true? a. A common reason for electing tax deferral for such expenses...

Explain the difference between the null and alternative hypothesis. Which one can be proven in a statistical sense?

The following information is taken from the Year 2 10-K statement of McDonalds Corporation. The Company franchises and operates McDonalds restaurants. Of the 32,478 restaurants in 117 countries at...

Question 7 . Given the following simple maze, convert the maze into a graph. ( 5 points ) Question 8 . Implement depth first search in the maze function in homework 1 . py . ( 2 0 points ) Question 9...

Do not pay him, wait until I come

Do not get married, wait until I come, etc.

Do not come to the conclusion too quickly