Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ATTACHED SEE THE ANSWERS UP TO THIS POINT, SO YOU CAN GUIDE YOURSELF. I JUST NEED THE ANSWER TO THE ONES ABOVE. THANKS. Use the

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

ATTACHED SEE THE ANSWERS UP TO THIS POINT, SO YOU CAN GUIDE YOURSELF. I JUST NEED THE ANSWER TO THE ONES ABOVE. THANKS. image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Use the following information: a. Two-thirds (or $139) of one month's insurance coverage has expired. b. At the end of the month, $600 of office supplies are still available c. This month's depreciation on the computer equipment is $500. d. Employees earned $370 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,350 of commissions that are not yet billed at month-end. Required 1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. 4. Journalize and post the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30, 2017. 5b. Prepare the statement of retained earnings for the month of April 30, 2017. 5c. Prepare the balance sheet at April 30, 2017. 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below General Ledger accounts Cash Accounts Receivable Credit Date Debit Credit Balance Date Debit Balance Office Supplies Debit Prepaid Insurance Debit Credit Date Credit Balance Date Balance Computer Equipment Debit Accumulated Depreciation-Computer equipment Credit Date Credit Balance Date Debit Balance Salaries Payable Debit Common Stock Date Credit Balance Date Debit Credit Balance Retained Earnings Debit Dividends Date Credit Balance Date Debit Credit Balance Depreciation Expense-Computer Equipment Commissions earned Balance Debit Credit Date Balance Credit Debit Date Insurance Expense Debit Salaries Expense Debit Balance Credit Date Balance Credit Date Office Supplies Expense Rent Expense Debit Balance Credit Debit Date Balance Credit Date

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