Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Calculator Adjusting entries and errors Instructions Chart of Accounts Journal Final Question 0 Instructions At the end of April, the first month of

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Calculator Adjusting entries and errors Instructions Chart of Accounts Journal Final Question 0 Instructions At the end of April, the first month of operations, the following selected data were taken from the financial statements of Shelby Crawford, an attore Net income for April Total assets at April 30 Total abilities at April 30 Total owner's equity at April 30 $120,000 750,000 300.000 450,000 In preparing the financial statements, adjustments for the following data were overlooked: a. Supplies used during April, 2,750 b. Unbilledfees earned at April 30,523,700 o 00 8:05 PM 9/13/202 ISUS 17 10 Powe break insect 5 % 5 --- 4 6 7 8 9 OU IR IL T Y U G H K. Assignment/takeAssignmentMain.do?invoker&takeAssignmentSessionLocator=&inprogress=false NP eBook Calculator Adjusting entries and errors Instructions Chart of Accounts Journal Final Question Instructions In preparing the financial statements, adjustments for the following data were overlooked a. Supplies used during April, $2,750 b. Unbilledfees earned at April 30,523.700 c. Depreciation of equipment for April, S1,800 d. Accrued wages at April 30, 51,400 Required: 1. Journalte the entries on April 30 to record the omitted aquants Refer to the Chart of Accounts for exact wording of accounts 2. Determine the correct amount of net income for April and the total asseblies, and owner's equity ar April 30. odontointing the corrected amounts, indicate the effect of each omitted adjustment in the columnar table provided Aquent() e presented as an o 8:05 PM W13/2020 SUS FRO brook delete A 5 4 5 6 7 8 9 0 backspoc R R F G H K V ? B NIM 1 1 N Paused gnment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator &inprogress=false eBook Calculator ) Adjusting entries and errors Instruction Chart of Accounts Journal Final Question Instructions Required: 1. Joumalize the entries on April 30 to record the omitted adjustments Refer to the Chart of Accounts for exact wording of accounts 2. Determine the correct amount of net income for April and the total assets, abilities, and owner's equity at April 30. In addition to indicating the corrected amounts, indicate the effect of each one austering the columnsartable provided Aquare (a) is presented as an example. (Note: Use a minus sign 1) to indicate a decrease. If there is no amount or an amount is zero, entero) Corrected Amounts Net Income Total Assets Total abilities Total Owner's Equity TEAM 805 PM 3932A ASUS | 5 6 0 backspace R R F G H J K enter V B N M shi ctrl eBook Calculator Adjusting entries and errors Instructions Chart of Accounts Journal Final Question Instructions * Corrected Amounts Net Income Toast Total abilities Tocal Owners Equity $15000000 1000 350000 300,000 Reported amounts Conections ) 2,350) (2790 20 27500 Adjustment Adjustment Adjustment [] | Corrected amounts 0 BOOM 13 SUS A | 6 8 bococe E R F G H K C V B N M alt ctrl assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Calculator Adjusting entries and errors Instructions Chart of Accounts Journal Final Question 0 Instructions At the end of April, the first month of operations, the following selected data were taken from the financial statements of Shelby Crawford, an attore Net income for April Total assets at April 30 Total abilities at April 30 Total owner's equity at April 30 $120,000 750,000 300.000 450,000 In preparing the financial statements, adjustments for the following data were overlooked: a. Supplies used during April, 2,750 b. Unbilledfees earned at April 30,523,700 o 00 8:05 PM 9/13/202 ISUS 17 10 Powe break insect 5 % 5 --- 4 6 7 8 9 OU IR IL T Y U G H K. Assignment/takeAssignmentMain.do?invoker&takeAssignmentSessionLocator=&inprogress=false NP eBook Calculator Adjusting entries and errors Instructions Chart of Accounts Journal Final Question Instructions In preparing the financial statements, adjustments for the following data were overlooked a. Supplies used during April, $2,750 b. Unbilledfees earned at April 30,523.700 c. Depreciation of equipment for April, S1,800 d. Accrued wages at April 30, 51,400 Required: 1. Journalte the entries on April 30 to record the omitted aquants Refer to the Chart of Accounts for exact wording of accounts 2. Determine the correct amount of net income for April and the total asseblies, and owner's equity ar April 30. odontointing the corrected amounts, indicate the effect of each omitted adjustment in the columnar table provided Aquent() e presented as an o 8:05 PM W13/2020 SUS FRO brook delete A 5 4 5 6 7 8 9 0 backspoc R R F G H K V ? B NIM 1 1 N Paused gnment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator &inprogress=false eBook Calculator ) Adjusting entries and errors Instruction Chart of Accounts Journal Final Question Instructions Required: 1. Joumalize the entries on April 30 to record the omitted adjustments Refer to the Chart of Accounts for exact wording of accounts 2. Determine the correct amount of net income for April and the total assets, abilities, and owner's equity at April 30. In addition to indicating the corrected amounts, indicate the effect of each one austering the columnsartable provided Aquare (a) is presented as an example. (Note: Use a minus sign 1) to indicate a decrease. If there is no amount or an amount is zero, entero) Corrected Amounts Net Income Total Assets Total abilities Total Owner's Equity TEAM 805 PM 3932A ASUS | 5 6 0 backspace R R F G H J K enter V B N M shi ctrl eBook Calculator Adjusting entries and errors Instructions Chart of Accounts Journal Final Question Instructions * Corrected Amounts Net Income Toast Total abilities Tocal Owners Equity $15000000 1000 350000 300,000 Reported amounts Conections ) 2,350) (2790 20 27500 Adjustment Adjustment Adjustment [] | Corrected amounts 0 BOOM 13 SUS A | 6 8 bococe E R F G H K C V B N M alt ctrl

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions