Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 of 1 records and end-of-period adjustments of TEDBR Co. on 31.12.2019 are given in Section 1 and Section 2. According to the information

image text in transcribed

1 of 1 records and end-of-period adjustments of TEDBR Co. on 31.12.2019 are given in Section 1 and Section 2. According to the information given, prepare: 1. Trial Balance (20P) 2. End-of-period adjustments (25 P) 3. Income statement (20P) 4. Close income and expense accounts (20 P) 5. Adjusted Trial Balance (10P) 6. Ending Balance Sheet (SP) Section 1: TEDBR Co. T Accounts on 31.12.2019 100 87,200 8,000 40,000 4,000 100,000 153 100,000 57,000 78,000 102 120 121 20,000 5,000 3,400 7,000 $2,000 15,000 27,000 4,000 34,000 48,000 30,000 191 25,000 252 350,000 230,000 255 64,000 86,000 320 321 391 22,000 30,000 7,000 23,000 9,000 32,000 22,000 500 1,000,000 14,000 41,000 35,000 600 630 91,600 10,000 120,000 15,000 632 5,000 25,000 643 24,000 19,000 150,000 30,000 645 654 655 660 16,000 23,000 21,000 7,000 10,000 3,000 7,000 3,000 Section 2: End-of-period Adjustments monthly on 31.12.2019 1. The value of commercial goods is 65.000 TL in stocks at the end of period. 2. Useful life of buildings is 50 years, Useful life of furniture and fixture is 5 years. 3. At the end of month, An office furniture was lost. Cost of furniture is 3.000TL Cost of asset will be paid within 5 months by the personnel who were misappropriated.

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_2

Step: 3

blur-text-image_3

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

Introduction to Governmental and Not for Profit Accounting

Authors: Martin Ives, Terry K. Patton, Suesan R. Patton

7th edition

9780132776073, 132776014, 978-0132776011

More Books

Students also viewed these Accounting questions

Question

Outline four general characteristics of Wundts thought.

Answered: 1 week ago

Question

42.

Answered: 1 week ago