Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Adjusted Dr. Cr. $8,700 11,400 600 1,200 19,000 Trial Balance September 30, 2020 Unadjusted Dr. Cr. Cash $ 8.700 Accounts Receivable 10,400 Supplies 1,450 Prepaid

image text in transcribed
image text in transcribed
image text in transcribed
Adjusted Dr. Cr. $8,700 11,400 600 1,200 19,000 Trial Balance September 30, 2020 Unadjusted Dr. Cr. Cash $ 8.700 Accounts Receivable 10,400 Supplies 1,450 Prepaid Rent 2,250 Equipment 19,000 Accumulated Depreciation-Equipment $ 0 Notes Payable 9.500 Accounts Payable 2.500 Salaries and Wages Payable 0 Interest Payable 0 Unearned Rent Revenue 1.850 Owner's Capital 22.200 Owner's Drawings 1.550 Service Revenue 16,740 Rent Revenue 1.440 Salaries and Wages Expense 7.500 Rent Expense 1.900 Depreciation Expense Supplies Expense Utilities Expense 1.480 Interest Expense $ 54,230 $ 750 9,500 2,500 700 95 1.000 22.200 1.550 17,740 2,290 8.200 2.950 750 850 1.480 95 $ 56.775 $56.225 Prepare a statement of owner's equity for the 3 months ending September 30, 2020. (List items that increase owner's equity first.) WILDHORSE CO. Owner's Equity Statement For the Quarter Ended September 30, 2020 Owner's Capital, July 1 $ Net Income /(Loss) 5,786 Add Net Income /(Loss) Drawings Owner's Capital September 30 e Textbook and Media List of Accounts W (c) If the note bears interest at 12%, how many months has it been outstanding? Note has been outstanding for month(s). e Textbook and Media Assistance Used List of Accounts Assistance Used Save for Later Attempts: unlimited Submit

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

Cost management a strategic approach

Authors: Edward J. Blocher, David E. Stout, Gary Cokins

5th edition

73526940, 978-0073526942

More Books

Students also viewed these Accounting questions

Question

What is the coefficient for the BANK-Dummy variable?

Answered: 1 week ago

Question

If you completed the Excel track, what is the Significance F value?

Answered: 1 week ago