Question: Using the information provided below: Worksheet for Bayview Best Bakery Year ended Dec 31, 2021 Accounts Trial Balance Adjustments Income Statement Balance Sheet DR CR
Using the information provided below:
| Worksheet for Bayview Best Bakery | Year ended Dec 31, 2021 | |||||||||
| Accounts | Trial Balance | Adjustments | Income Statement | Balance Sheet | ||||||
| DR | CR | DR | CR | DR | CR | DR | CR | |||
| Bank | 10,000.00 | |||||||||
| Supplies | 1,700.00 | |||||||||
| Prepaid insurance | 2,450.00 | |||||||||
| Equipment | 35,000.00 | |||||||||
| AP - MacGregor | 800.00 | |||||||||
| HST Payable | 8,060.00 | |||||||||
| HST Recoverable | 104.00 | |||||||||
| Bank Loan | 11,000.00 | |||||||||
| J. Penochhi, Capital | 22,424.00 | |||||||||
| J. Penochhi, Drawings | 30,000.00 | |||||||||
| Revenue | 62,000.00 | |||||||||
| Advertising Expense | 7,200.00 | |||||||||
| Cell Phone Expense | 1,450.00 | |||||||||
| Rent Expense | 14,400.00 | |||||||||
| Utilities Expense | 1,980.00 | |||||||||
| 104,284.00 | 104,284.00 | |||||||||
· The company's fiscal period is 12 months starting on Jan 1, 2021
· The owner did not make any additional investment during the year of 2021
· At the end of the fiscal period, physical count revealed that the company used $800 worth of supplies in 2021.
· The 12 month insurance policy was purchased on Oct 1
· The company received two late invoices on Jan 5th , 2022:
1) Invoice for utilities for the amount of $225.75 from Enbridge.
2) Invoice for purchase of supplies from MacGregor Inc. for $300
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Answer1 The Bayview Best Bakery trial balance worksheet and adjustments are shown in the table below Trial Balance Accounts DR CR Bank 10000 Supplies 1700 Prepaid Insurance 2450 Equipment 35000 AP Mac... View full answer
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