This alphabetized adjusted trial balance is for GalaVu Entertainment as of its December 31, 2023, year-end:...
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This alphabetized adjusted trial balance is for GalaVu Entertainment as of its December 31, 2023, year-end: Accounts payable Accounts receivable Accumulated depreciation, automobiles Accumulated depreciation, equipment Advertising expense Automobiles Cash Depreciation expense, automobiles Depreciation expense, equipment Equipment Revenue Interest income Interest expense Interest payable Interest receivable John Conroe, capital John Conroe, withdrawals Land Long-term notes payable Notes receivable (due in 90 days) Office supplies Office supplies expense Repairs expense, automobiles Salaries expense Salaries payable. Unearned revenue Wages expense Totals Required: Use the information in the trial balance to prepare: $ Debit 17,800 8,100 131,000 10,100 12,300 3,200 60,500 2,600 400 18,100. 30,500 75,500 3,100 12,100 7,500 75,325 26,900 $ 495,025 Credit $ 43,100 68,100 19,600 221,175 200 50 22,100 106,000 4,600 10, 100 $ 495,025 a. The income statement for the year ended December 31, 2023. Revenues Total rev hues Operating Expenses: GALAVU ENTERTAINMENT Income Statement For Year Ended December 31, 2023 Total operating expenses $ 0 b. The statement of changes in equity for the year ended December 31, 2023, assuming that the owner made additional investments of $10,500 during the year. GALAVU ENTERTAINMENT Statement of Changes in Equity For Year Ended December 31, 2023 John Conroe, capital, January 11 Total John Conroe, capital, December 31 $ 0 0 0 c. The balance sheet as of December 31, 2023. (Be sure to list the assets and liabilities in order of their liquidity.) Total Assets Total Liabilities Total Liabilities and Equity GALAVU ENTERTAINMENT Balance Sheet December 31, 2023 Assets Liabilities Equity $ S $ 0 0 0 This alphabetized adjusted trial balance is for GalaVu Entertainment as of its December 31, 2023, year-end: Accounts payable Accounts receivable Accumulated depreciation, automobiles Accumulated depreciation, equipment Advertising expense Automobiles Cash Depreciation expense, automobiles Depreciation expense, equipment Equipment Revenue Interest income Interest expense Interest payable Interest receivable John Conroe, capital John Conroe, withdrawals Land Long-term notes payable Notes receivable (due in 90 days) Office supplies Office supplies expense Repairs expense, automobiles Salaries expense Salaries payable. Unearned revenue Wages expense Totals Required: Use the information in the trial balance to prepare: $ Debit 17,800 8,100 131,000 10,100 12,300 3,200 60,500 2,600 400 18,100. 30,500 75,500 3,100 12,100 7,500 75,325 26,900 $ 495,025 Credit $ 43,100 68,100 19,600 221,175 200 50 22,100 106,000 4,600 10, 100 $ 495,025 a. The income statement for the year ended December 31, 2023. Revenues Total rev hues Operating Expenses: GALAVU ENTERTAINMENT Income Statement For Year Ended December 31, 2023 Total operating expenses $ 0 b. The statement of changes in equity for the year ended December 31, 2023, assuming that the owner made additional investments of $10,500 during the year. GALAVU ENTERTAINMENT Statement of Changes in Equity For Year Ended December 31, 2023 John Conroe, capital, January 11 Total John Conroe, capital, December 31 $ 0 0 0 c. The balance sheet as of December 31, 2023. (Be sure to list the assets and liabilities in order of their liquidity.) Total Assets Total Liabilities Total Liabilities and Equity GALAVU ENTERTAINMENT Balance Sheet December 31, 2023 Assets Liabilities Equity $ S $ 0 0 0
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GALAVU ENTERTAINMENT Income Statement For Year Ended December 31 2020 Revenues Revenue 221175 Intere... View the full answer
Related Book For
Fundamental Accounting Principles Volume 1
ISBN: 9781260881325
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
Posted Date:
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