Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ASSIGNMENT -2 DUE ON June 12, 2023, before 11.59 PM The followi Apart from the above the following information is given to you to, prepafe

image text in transcribed
image text in transcribed
ASSIGNMENT -2 DUE ON June 12, 2023, before 11.59 PM The followi Apart from the above the following information is given to you to, prepafe necessary adjusting entries at year end, December 31, 2022, for Darvon Collection Services. a) A courit revealed that 5100 of office supplies were still on hand at December 31,2022. b) The accountant has determined that the prepatd insurance balance at December 31, 2022, shorald be in the amount of $450. c) The equipment is amortized at the rate of $200 pes month. d) The accountant has determined that the anearned service reverue balance at December 31 , 2022 , should be in the amount of $350. e) Interest of $200 on the note payable has accnaed to the end of the year. f) Salaries accrued at December 31,2022 , amounted to $650. g) The accountant has determined that the prepaid rent balance at December 31,202 , should be in the amcunt of 5100 . REQUIRED; PREPARE 1. Unadjusted Trial Balance 2. Adjusting Entries 3. Adjusted Trial Balance 4. FROM ADJUSTED TRIAL BALANCE PREPARE a. Income Statement b. Owner's Equity Statement c. Balance Sheet ASSIGNMENT -2 DUE ON June 12, 2023, before 11.59 PM The followi Apart from the above the following information is given to you to, prepafe necessary adjusting entries at year end, December 31, 2022, for Darvon Collection Services. a) A courit revealed that 5100 of office supplies were still on hand at December 31,2022. b) The accountant has determined that the prepatd insurance balance at December 31, 2022, shorald be in the amount of $450. c) The equipment is amortized at the rate of $200 pes month. d) The accountant has determined that the anearned service reverue balance at December 31 , 2022 , should be in the amount of $350. e) Interest of $200 on the note payable has accnaed to the end of the year. f) Salaries accrued at December 31,2022 , amounted to $650. g) The accountant has determined that the prepaid rent balance at December 31,202 , should be in the amcunt of 5100 . REQUIRED; PREPARE 1. Unadjusted Trial Balance 2. Adjusting Entries 3. Adjusted Trial Balance 4. FROM ADJUSTED TRIAL BALANCE PREPARE a. Income Statement b. Owner's Equity Statement c. 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 Tools for business decision making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

5th edition

470506954, 471345881, 978-0470506950, 9780471345886, 978-0470477144

More Books

Students also viewed these Accounting questions