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Bramble Advertising was founded in January 2013. Presented below are adjusted and unadjusted trial balances as of December 31. 2020 BRAMBLE ADVERTISING TRIAL BALANCE DECEMBER
Bramble Advertising was founded in January 2013. Presented below are adjusted and unadjusted trial balances as of December 31. 2020 BRAMBLE ADVERTISING TRIAL BALANCE DECEMBER 31, 2020 Unadjusted Adjusted Dr. Cr. Dr. Cr. Cash $ 16,380 $ 16,380 23,200 26,849 8,410 2,787 4,240 3,384 64,770 64.770 $ 25,610 $30,380 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Interest Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable 23.231 23.231 -0- 147 4.900 4,900 7,590 6,107 -0- 1,383 Comman Stock 9.840 9840 MacBook Pro Common Stock 9,840 9,840 Retained Earnings 3,600 3.600 Service Revenue 58,839 63.971 Salaries and Wages Expense 11.960 13,343 Insurance Expense 856 500 647 Interest Expense Depreciation Expense Supplies Expense 4.770 5.623 Rent Expense 4.150 4 150 $ 133,610 $ 133,610 $143.559 $143.559 Journalize the annual adjusting entries that were made. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter for the amounts.) Debit Credit No. Date Account Titles and Explanation Dec 1 Accounts Receivable 31 A cevable (To record accrued service revenue) Dec 2 (To record earned service revenue) 3 Dec 31 (To record supplies used) 4. Dec 31 5. Dec 31 (To record interest accrued on the note) 6. Dec 31 (To record expired insurance) 2 Doc 31 (To record accrued wages) Prepare an income statement for the year ending December 31, 2020. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses es. (45).) BRAMBLE ADVERTISING Income Statement $ Prepare a statement of retained earnings for the year ending December 31, 2020. (List items that increase retained earnings first.) BRAMBLE ADVERTISING Statement of Retained Earnings . Prepare an unclassified balance sheet at December 31, (List assets in order of liquidity) BRAMBLE ADVERTISING Balance Sheet . Assets $ Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity $ $ : Answer the tollowing questions. (Round interest rate to decimal places. eg. 7%.) (1) If the note has been outstanding 3 months, what is the annual interest rate on that note? The annual interest rate (2) If the company paid $ 12.290 in salaries and wages in 2020, what was the balance in Salaries and Wages Payable on December 31, 2019 The balance in Salaries and Wages Payable $
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