a. Complete the worksheet for Joes Supplies in Figure. b. Prepare an income statement, a statement of
Question:
a. Complete the worksheet for Joe’s Supplies in Figure.
b. Prepare an income statement, a statement of owner’s equity, and a classified balance sheet. (The amount of the mortgage due the first year is $820.)
c. Journalize the adjusting and closingentries.
Transcribed Image Text:
JOE'S SUPPLIES WORKSHEET FOR YEAR ENDED DECEMBER 31, 201X Trial Balance Dr Adjustments Dr. Account Titles Cash Accounts Receivable Merch. Inven Cr Cr. 1800 (B)|| 10|1|0101001| 11|3|0|0| () ) (A) 1130000 190000 700 00 aid Insurance 101000 Accum Accounts Payable Unearned Training Fees 10000 20900027000 age Payable Capital 18000 101 ( 010() P. Joe, Withdrawals Income Summa Sales Sales Returns and Allowances Sales Discount Purchases Purchases Returns and Allow Purchases Discount Freight-In Advertising Expense Rent Ex Salaries Ex 429000 9551010100 이 00 263000 6311이이00 1390000 22000 1140000 960000 1370000 13256000 13256000 Training Fees Earned Insurance Ex (E)49000 0l00 2252000
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JOES SUPPLIES INCOME STATEMENT FOR YEAR ENDED DECEMBER 31 201X Revenue Gross Sales 95 5 0 0 00 Less Sales Ret Allow 3 2 0 0 00 Sales Discount 2 6 3 0 00 5 8 3 0 00 Net Sales 89 6 7 0 00 Cost of Goods ...View the full answer
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