Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can someone help me with the adjusting and journalizing? DUE MArch 2 Financial Statements Name Simply Starving Eats Trial Balance December 31 Credit Debit $
Can someone help me with the adjusting and journalizing?
DUE MArch 2 Financial Statements Name Simply Starving Eats Trial Balance December 31 Credit Debit $ 7500 5300 800 22000 $ 2000 9000 Account name Cash Accounts Receivable Office Supplies Equipment Accumulated Depreciation, Equipment Delivery Truck Accumulated Depreciation, Delivery Truck Accounts payable Wages payable Long term note payable Owner, Capital Owner, Withdrawals Revenue Utilities Expense Advertising expense Salaries expense Fuel expense Food Expense Totals: 1000 13000 2000 21500 850 3200 25705 4200 8150 400 450 5055 $ 66055 $ 66055 Simply Starving Eats is an organic and gluten free restaurant known to serve the best burgers and salads in Beebe. The company lost their accountant last month and has asked you, the new kid on the block accountant to make the necessary adjustments and prepare the financial statements, including a classified balance sheet in order to get an expansion loan. Additional information: a. An inventory of office supplies showed $130 of office supplies remained in the supply closet. b. Depreciation on the equipment is $500 per month. c. Depreciation on the delivery truck is $250 per month. d. Simply Starving Eats completed a catering job for $700 that has not been billed or recorded. e. Simply Starving Eats received a $75 bill for advertising that has not been recordedStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started