The unadjusted and adjusted trial balances of Ozaki Corp. at the end of its first quarter of
Question:
The unadjusted and adjusted trial balances of Ozaki Corp. at the end of its first quarter of operations, September 30, are as follows. The company adjusts its accounts quarterly.
Instructions
(a) Prepare the adjusting journal entries that were made for the quarter.
(b) Prepare an income statement, statement of changes in equity, and statement of financial position for the quarter.
Transcribed Image Text:
OZAKI CORP Trial Balance tember 30, 2012 Unadjusted Debit Credit Adjusted DebiCredit Cash Accounts receivable Supplies Prepaid rent Equipment Accumulated depreciation-equipment Accounts payable Salaries payable Interest payable Income tax payable Unearned revenue Bank loan payable, due in 2015 Common shares Dividends Comnission revenue Salaries expense Rent expense Depreciation expense Supplies expense Utilities expense Interest expense Income tax expense 3,250 6,335 1,750 1,500 15,040 S 3,250 8,435 1,265 15,040 $ 750 4,460 840 105 1,000 550 7,000 10,000 4,250 0 775 7,000 10,000 700 20,160 22,485 13,000 13,840 1,500 750 485 820 105 1,000 0 610 0 $42,185 $42,185 $47,190 $47,190
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a Sept 30 Accounts Receivable 8435 6335 2100 Commission Revenue 2100 30 Rent Expense 1500 Prepaid Rent 1500 0 1500 30 Supplies Expense 485 Supplies 1750 1265 485 30 Depreciation Expense 750 Accumulate...View the full answer
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118024492
5th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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