Sutton Pond Apartments Inc.'s unadjusted and adjusted trial balance at April 30, 2020, follow: (Click the...
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Sutton Pond Apartments Inc.'s unadjusted and adjusted trial balance at April 30, 2020, follow: (Click the icon to view the unadjusted and adjusted trial balances.) Requirements 1. Make the adjusting entries that account for the differences between the two trial balances. 2. Compute Sutton Pond Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accoun Requirement 1. Make the adjusting entries that account for the differences between the two trial balances. The first difference occurs in the Accounts Receivable account. Record the adjustment to Accounts Receivable and the related account. last line.) Date April 30 Accounts Date April 30 Debit Credit The second difference occurs in the Interest Receivable account. Record the adjustment to Interest Receivable and the related account. Accounts Debit Credit The third difference occurs in the Supplies account. Record the adjustment to Supplies and the related account. Date Accounts Debit Credit April 30 Account Title Cash Accounts receivable Interest receivable Note receivable Supplies Prepaid insurance Building Accumulated depreciation Accounts payable Wages payable Unearned rental revenue Share capital Retained earnings Dividends Sutton Pond Apartments Inc. Adjusted Trial Balance April 30, 2020 Rental revenue Interest revenue $ Trial Balance Debit 8,200 6,400 3,900 950 2,600 66,300 3,480 Credit 16,100 6,500 1,200 18,200 42,300 9,800 Adjusted Trial Balance Debit Credit $ 8,200 7,100 600 3,900 700 1,000 66,300 3,480 $ 18,300 6,500 100 900 18,200 42,300 10,800 600 Sutton Pond Apartments Inc.'s unadjusted and adjusted trial balance at April 30, 2020, follow: (Click the icon to view the unadjusted and adjusted trial balances.) Requirements 1. Make the adjusting entries that account for the differences between the two trial balances. 2. Compute Sutton Pond Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation. Requirement 1. Make the adjusting entries that account for the differences between the two trial balances. The first difference occurs in the Accounts Receivable account. Record the adjustment to Accounts Receivable and the related account. last line.) Date April 30 Accounts Date April 30 Debit The second difference occurs in the Interest Receivable account. Record the adjustment to Interest Receivable and the related account. Accounts Debit Credit Debit Credit The third difference occurs in the Supplies account. Record the adjustment to Supplies and the related account. Date Accounts Credit April 30 The fourth difference occurs in the Prepaid Insurance account. Record the adjustment to Prepaid Insurance and the related account. Date Accounts Debit Credit April 30 The fifth difference occurs in the Accumulated Depreciation account. Record the adjustment to Accumulated Depreciation and the related account. Date Credit April 30 Accounts GILLE Debit The sixth difference occurs in the Wages Payable account. Record the adjustment to Wages Payable and the related account. Date Accounts Credit April 30 Debit The seventh difference occurs in the Unearned Rental Revenue account. Record the adjustment to Unearned Rental Revenue and the related account. Date Accounts Debit Credit April 30 Requirement 2. Compute Sutton Pond Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation. Use the adjusted trial balance provided to compute Sutton Pond's total assets, total liabilities, total equity, and net income. Total Assets.. Total Liabilities... Total Shareholders' Equity. Net Income.. To prove your answer, use the accounting equation of Assets Liabilities + Shareholders' Equity. Complete the equation to prove your answer. Total Assets Total Liabilities + Total Shareholder's Equity Sutton Pond Apartments Inc.'s unadjusted and adjusted trial balance at April 30, 2020, follow: (Click the icon to view the unadjusted and adjusted trial balances.) Requirements 1. Make the adjusting entries that account for the differences between the two trial balances. 2. Compute Sutton Pond Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accoun Requirement 1. Make the adjusting entries that account for the differences between the two trial balances. The first difference occurs in the Accounts Receivable account. Record the adjustment to Accounts Receivable and the related account. last line.) Date April 30 Accounts Date April 30 Debit Credit The second difference occurs in the Interest Receivable account. Record the adjustment to Interest Receivable and the related account. Accounts Debit Credit The third difference occurs in the Supplies account. Record the adjustment to Supplies and the related account. Date Accounts Debit Credit April 30 Account Title Cash Accounts receivable Interest receivable Note receivable Supplies Prepaid insurance Building Accumulated depreciation Accounts payable Wages payable Unearned rental revenue Share capital Retained earnings Dividends Sutton Pond Apartments Inc. Adjusted Trial Balance April 30, 2020 Rental revenue Interest revenue $ Trial Balance Debit 8,200 6,400 3,900 950 2,600 66,300 3,480 Credit 16,100 6,500 1,200 18,200 42,300 9,800 Adjusted Trial Balance Debit Credit $ 8,200 7,100 600 3,900 700 1,000 66,300 3,480 $ 18,300 6,500 100 900 18,200 42,300 10,800 600 Sutton Pond Apartments Inc.'s unadjusted and adjusted trial balance at April 30, 2020, follow: (Click the icon to view the unadjusted and adjusted trial balances.) Requirements 1. Make the adjusting entries that account for the differences between the two trial balances. 2. Compute Sutton Pond Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation. Requirement 1. Make the adjusting entries that account for the differences between the two trial balances. The first difference occurs in the Accounts Receivable account. Record the adjustment to Accounts Receivable and the related account. last line.) Date April 30 Accounts Date April 30 Debit The second difference occurs in the Interest Receivable account. Record the adjustment to Interest Receivable and the related account. Accounts Debit Credit Debit Credit The third difference occurs in the Supplies account. Record the adjustment to Supplies and the related account. Date Accounts Credit April 30 The fourth difference occurs in the Prepaid Insurance account. Record the adjustment to Prepaid Insurance and the related account. Date Accounts Debit Credit April 30 The fifth difference occurs in the Accumulated Depreciation account. Record the adjustment to Accumulated Depreciation and the related account. Date Credit April 30 Accounts GILLE Debit The sixth difference occurs in the Wages Payable account. Record the adjustment to Wages Payable and the related account. Date Accounts Credit April 30 Debit The seventh difference occurs in the Unearned Rental Revenue account. Record the adjustment to Unearned Rental Revenue and the related account. Date Accounts Debit Credit April 30 Requirement 2. Compute Sutton Pond Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation. Use the adjusted trial balance provided to compute Sutton Pond's total assets, total liabilities, total equity, and net income. Total Assets.. Total Liabilities... Total Shareholders' Equity. Net Income.. To prove your answer, use the accounting equation of Assets Liabilities + Shareholders' Equity. Complete the equation to prove your answer. Total Assets Total Liabilities + Total Shareholder's Equity
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Related Book For
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
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