Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2: Adjusted Trial balance of MSF Corporations for the month ended September 30, 2016 are provided in attached Excel file. You are required to prepare
2: Adjusted Trial balance of MSF Corporations for the month ended September 30, 2016 are provided in attached Excel file. You are required to prepare income statement and balance sheet by connecting cells in different sheets. (8 Marks) MSF Corporations Adjusted Trial Balance For the Month Ended September 30, 2016 Account Titles Cash Supplies Prepaid Insurance Equipment Accum. Depreciation- Equipment Accounts Payable Notes Payable Owner's Capital Owner's Drawings Adjusted Trial Balance Debit Credit 3,000 500 2,000 24,000 5,400 2,400 4,000 15,600 2,200 6,700 400 Service Revenue Utilities Expense Totals Supplies Expense 1,000 Insurance Expense 400 Depreciation Expense Rent Expense 600 750 Rent Payable 750 Totals 34.850 34.850
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started