The trial balance of An Binh Car Repairs before adjustment on October 31, 2021, is as...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The trial balance of An Binh Car Repairs before adjustment on October 31, 2021, is as follows. An Binh Car Repairs Trial Balance October 31, 2021 $ Cash Supplies Prepaid insurance ASS Equipment Accumulated Depreciation-Equipment Account payable An Binh's Capital Service Revenue Owner' withdrawals Salaries and wages expenses Total 15,000 12,100 6,000 42,000 4,200 $12,000 62,400 8,500 10,000 2,000 $87,100 $87,100 Other data: a) Insurance expires at the rate of $500 per month. b) A count on October 31 shows $11,300 of supplies on hand. c) The equipment has a 10-year life with no residual value (hết hạn). It is being depreciated at $350 per month. d) Salaries of $2,500 were unpaid on October 31. V e) A utility hill (hóa đơn tiền điên) for $1,000 has not been recorded and will not be paid until next month.. f) Invoices representing $2,100 of services performed during the month have not been recorded as of October 31. Make appropriate adjustments and produce an income statement for the month ending October 31, 2021, and a statement of financial position as of October 31, 2021. The trial balance of An Binh Car Repairs before adjustment on October 31, 2021, is as follows. An Binh Car Repairs Trial Balance October 31, 2021 $ Cash Supplies Prepaid insurance ASS Equipment Accumulated Depreciation-Equipment Account payable An Binh's Capital Service Revenue Owner' withdrawals Salaries and wages expenses Total 15,000 12,100 6,000 42,000 4,200 $12,000 62,400 8,500 10,000 2,000 $87,100 $87,100 Other data: a) Insurance expires at the rate of $500 per month. b) A count on October 31 shows $11,300 of supplies on hand. c) The equipment has a 10-year life with no residual value (hết hạn). It is being depreciated at $350 per month. d) Salaries of $2,500 were unpaid on October 31. V e) A utility hill (hóa đơn tiền điên) for $1,000 has not been recorded and will not be paid until next month.. f) Invoices representing $2,100 of services performed during the month have not been recorded as of October 31. Make appropriate adjustments and produce an income statement for the month ending October 31, 2021, and a statement of financial position as of October 31, 2021.
Expert Answer:
Answer rating: 100% (QA)
An Binh Car Repairs Income Statement For the Month Ending October 31 2021 Sales 8500 2100 ... View the full answer
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0073396958
2nd edition
Authors: David Haddock, John Price, Michael Farina
Posted Date:
Students also viewed these accounting questions
-
Jen and Berry's sells ice-creams from its factory-shop in Petone. There is a managing director (Maynard Dibble), a marketing manager (Mary Salman) and a production manager (Peter Pritchard). Maynard...
-
The following is the trial balance of Sealy Limited, a company with a 31 OCTOBER year end. Sealy LTD TRIAL BALANCE AT 31 OCTOBER 2021 Credit losses expense Fuel and car maintenance costs on CEO...
-
The trial balance of Pacilio Security Services Inc. as of January 1, 2021, had the following normal balances: Cash ..................... $113,718 Petty cash ................... 100 Accounts...
-
Host A has a file of 49.5Kbytes to send to host C and host B has a file of 70.5Kbytes to send to host D, both using TCP. TCP connection 1 from A to C and TCP connection 2 from B to D share one...
-
Lasure, Ramirez, and Toney, who share income and loss in a 2:1:2 ratio, plan to liquidate their partnership. At liquidation, their balance sheet appears as follows. Required Prepare journal entries...
-
What are some of the ways that the binder can be removed from metal injection molded parts?
-
Selected accounts of Armstrong Consulting, Inc., a financial services business, have the following balances at December 31, 2010, the end of its first year of operations. During the year, Lori...
-
Alpha Company purchased 30% of the voting common stock of Beta Company on January 1 and paid $500,000 for the investment. Beta Company reported $100,000 of earnings for the year and paid $40,000 in...
-
5. Eunice manages a Thai restaurant in a primarily Asian section of a major West Coast city. She is interested in determining dollar sales and number of guests needed to break-even and to generate...
-
assembly language ; 6. Temperature conversion between Celsius and Fahrenheit can be computed using ; ; ; the relationship C = (5 / 9) * (F - 32) where C and F are in degrees (signed integer). Celsius...
-
4. A mortgage loan of $200,000 has just been made on a property valued at $250,000. The interest rate is 5.5% with 2 points with a 10 year balloon. Monthly amortization payments are based on a 30...
-
Explain the physical meaning of heat conduction and heat convection by using the matter derivative of temperature.
-
What are the physical meanings of trace and streamline lines of fluid parti-cles? At what point do they overlap? For unsteady flows, why are they generally not coincident?
-
If there is a mass source in the control volume, how can we express the law of conservation of mass?
-
What is the expression of the law of conservation of mass in fluid motion? If the fluid particles do not have continuity conditions, how to express the conservation of mass?
-
What is the physical meaning of divergence of velocity field? In the process of fluid motion, the divergence can be greater than zero, less than zero and equal to zero, please explain the physical...
-
where h is the water depth and g is the gravitational acceleration. What is the speed of these waves at h=20.0 m below the surface?
-
Below is a sample of the data in the file NFLAttendance which contains the 32 teams in the National Football League, their conference affiliation, their division, and their average home attendance....
-
Cantu Office Supply Company received a bank statement showing a balance of $68,005 as of March 31, 2013. The firm's records showed a book balance of $69,487 on March 31. The difference between the...
-
What are posting references? Why are they used? Discuss.
-
Tiffany's Card and Novelty Shop is a retail card, novelty, and business supply store. Tiffany's Card and Novelty Shop commenced business on April 1,2013. The firm purchases merchandise on open...
-
What is the general reporting format on financial statements prepared in accordance with a comprehensive basis of accounting other than generally accepted accounting principles?
-
What is negative assurance within the context of an auditor's report? How does it differ from positive assurance?
-
What body establishes standards for a. All audits and for reviews of interim financial information and preparation of unaudited financial statements of public companies? b. Reviews and compilations...
Study smarter with the SolutionInn App