Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ACOSTACO, nadjusted Trial Balance December 31, 2019 Accent Title Credit Cash Det 50.000 10,000 55.000 15.000 Accounts Recsivalle Supplier Automobiles Accumulated Depreciation - Actes Accounts

image text in transcribed
ACOSTACO, nadjusted Trial Balance December 31, 2019 Accent Title Credit Cash Det 50.000 10,000 55.000 15.000 Accounts Recsivalle Supplier Automobiles Accumulated Depreciation - Actes Accounts payable Linced fees Salamies payable Kle. Capital B. Kien. Withdrawals Feescared Salary ex Rent espec Advertising expenie Supplies experte Depreciation expen Torah 45,000 275.400 125.000 14.400 432.400 As above is the unadjusted trial balance for ACOSTA CO. Assumes the following adjustments data have been done since December, 2019 (a) Salaries eamed by employees that are unpaid and unrecorded, S4,000. (b) An inventory of supplies showed $3,000 of unused supplies still on hand. (c) Depreciation on automobiles, 530,000. (d) Services paid in advance by customers of $12,000 have now been provided to customers (c) Advertising for November and December in the amount of $8,000 remains unpaid and unrecorded You are required to prepare the following in worksheet format 1. prepare following requirements in the worksheet: 1. Prepare adjustments II. Adjusted Trail balance III. Income Statement IV. Balance sheet (Financial Position) Statement 2. Calculate the current ratio from Balance sheet

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

Managerial Accounting

Authors: Peter Clarke

2nd Edition

9781907214240

More Books

Students also viewed these Accounting questions

Question

Describe five career management practices

Answered: 1 week ago