There is an unadjusted trial balance at the end of the month that needs to be...

 

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There is an unadjusted trial balance at the end of the month that needs to be completed for month end. This is for company A and the unadjusted worksheet is currently balanced. There are five accounts that need to be adjusted because of use. The figures below is how much assets were either expensed or accrued. Prepaid Rent: $75,825.00 Supplies - Store: Supplies - Office: Prepaid Insurance: $5,125.00 $3,225.00 $ 4,100.00 Accumulated Depreciation Plant asset - $7,500.00 Total sales $632,371.75 Total expense $426,197.25 The amounts listed above are before adjustments. 1. What are the total adjustments? 2. Did the company make a profit or a loss and if so what was it? 3. What is the amount that you have to pay in taxes for this fiscal period? There is an unadjusted trial balance at the end of the month that needs to be completed for month end. This is for company A and the unadjusted worksheet is currently balanced. There are five accounts that need to be adjusted because of use. The figures below is how much assets were either expensed or accrued. Prepaid Rent: $75,825.00 Supplies - Store: Supplies - Office: Prepaid Insurance: $5,125.00 $3,225.00 $ 4,100.00 Accumulated Depreciation Plant asset - $7,500.00 Total sales $632,371.75 Total expense $426,197.25 The amounts listed above are before adjustments. 1. What are the total adjustments? 2. Did the company make a profit or a loss and if so what was it? 3. What is the amount that you have to pay in taxes for this fiscal period?

Answer rating: 100% (QA)

To determine the total adjustments we sum up the adjustments made to the accounts mentioned ... View the full answer