Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1, 2 and 3 pleqss!!! The following accounts (all normal balances were taken from the ledger of Company A as of June 30 of the

1, 2 and 3 pleqss!!!
image text in transcribed
image text in transcribed
image text in transcribed
The following accounts (all normal balances were taken from the ledger of Company A as of June 30 of the current year. Accounts Payable $7,000 Accounts Receivable 16,000 Cash 10,000 J. Wilson, Capital 55,000 J. Wilson, Drawing 6,000 Equipment 17.000 Fees Earned 39,000 Land 19,000 Miscellaneous Expense 5,000 Prepaid Insurance 7.000 Salaries Expense 13,000 Supplies 4,000 Supplies Expense 2,000 Salaries Payable 5.000 Utilities Expense 7,000 As a result of preparing a trial balance, the total debits and credits equal: O A 103,000 O B. 106,000 O C. 108,000 OD 109.000 On June 1 of the current year, the amount of Joan Adam capital in Adam Realty was $97,400. During the month, she withdrew $3,000 from the company, and on June 30, the amounts of her various assets, liabilities, revenues, and expenses were as follows: $12,100 34 750 24,090 25,500 175 Accounts Payable Accounts Receivable Cash Fees Eamed Insurance Expense Land Miscellaneous Expense Rent Expense Salaries Expense Supplies Supplies Expense Utos Expense 51,800 210 2.100 16,000 950 425 1,500 The total expenses reported in the income statement of Adam Realty for the period ending Juno 30 ls; O A $19.925 OB. $13,310 OC 120.410 OD$25,410 On June 1 of the current year, the amount of San Adam capital in Adam Realty was $07 400 During the month, the withdrew $3,000 from the company, and on June 30, the amounts of her various assets, liabilities, revere, and expenses were as follows Accounts Payable $12, 100 Accounts Receivable 34.750 Canh 24090 Fees Eamed 25,500 Insurance Expense 175 Land 51.00 Miscellaneous Exe 210 Rent Expense 2.100 Sales Expanse 16.000 Supplies 950 Supplies Expense 425 Utified Expense 1,500 The amount of net income reported on the income statement of Adam Rosly for the period ending June 30 O A 5,010 O $5,000 OC $5.575 D.57.100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Accounting Volume 2

Authors: Frank Wood

4th Edition

0582413435, 978-0582413436

More Books

Students also viewed these Accounting questions