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1.Prepare an adjusted trial balance at December 31, 2022. 2. Prepare an income statement. WP RIVERBED CORP Balance Sheet December 31, 2021 Cash Account Accounts
1.Prepare an adjusted trial balance at December 31, 2022.
2. Prepare an income statement.
WP RIVERBED CORP Balance Sheet December 31, 2021 Cash Account Accounts receivable $46,740 Accounts payable 86,450 Common stock ($10 par) (2.850) Retained earnings $48.640 152.000 242,060 Allowance for doubtful accounts Dashboard Supplies 8,360 Land 76,000 Courses Buildings 269,800 Calendar Accumulated depreciation-buildings (41,800) $442,700 $442,700 Inbox During 2022. the following transactions occurred. Get HELP SOS 1. On January 1, Riverbed issued 2.280 shares of $40 par, 7% preferred stock for $93,480. 2. On January 1, Riverbed also issued 1.710 shares of the $10 par value common stock for $39.900. 3. Riverbed performed services for $608,000 on account 4. On April 1, 2022. Riverbed collected fees of $68,400 in advance for services to be performed from April 1.2022. to March 31, 2023. 5. Riverbed collected $524.400 from customers on account. 6. Riverbed bought $66,690 of supplies on account 7. Riverbed paid $61,180 on accounts payable 8. Riverbed reacquired 760 shares of its common stock on June 1 for $28 per share. 9. Paid other operating expenses of $357.580. 10. On December 31, 2022. Riverbed declared the annual preferred stock dividend and a $1.20 per share dividend on the outstanding common stock, all payable on January 15, 2023. 11. An account receivable of $3.230 which originated in 2022 is written off as uncollectible. Adjustment data: 1. A count of supplies indicates that $11,210 of supplies remain unused at year-end. 2. Recorded revenue from item 4 above. 3. The allowance for doubtful accounts should have a balance of $6,650 at year end. 4. Depreciation is recorded on the building on a straight-line basis based on a 30-year life and a salvage value of $19.000. 5. The income tax rate is 30%. (Hint: Prepare the income statement up to income before taxes and multiply by 30% to compute the amount.) eStep by Step Solution
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