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Can you help me with this i would appreciate it. all information is in file 1. These 16 accounts are from the Adjusted Trial Balance
Can you help me with this i would appreciate it. all information is in file
1. These 16 accounts are from the Adjusted Trial Balance columns of a company's 10-column work sheet. Select the letter of the appropriate financial statement column (A, B, C, or D) to which a normal account balance is extended. A. B. C. D. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. Debit column for the Income Statement columns. Credit column for the Income Statement columns. Debit column for the Balance Sheet and Statement of Owner's Equity columns. Credit column for the Balance Sheet and Statement of Owner's Equity columns Interest Revenue Machinery Owner, Withdrawals Depreciation Expense Accounts Payable Service Fees Revenue Owner, Capital Interest Expense Accounts Receivable Accumulated Depreciation Office Supplies Insurance Expense Interest Receivable Cash Rent Expense Wages Payable 2. List the following steps in preparing a work sheet in their proper order by selecting numbers 1-5 from the drop down provided. a. b. c. d. e. Total the statement columns, compute net income (loss), and complete work sheet Extend adjusted balances to appropriate financial statement columns. Prepare an unadjusted trial balance on the work sheet. Prepare an adjusted trial balance on the work sheet. Enter adjustments data on the work sheet. 3. In preparing a work sheet, indicate the financial statement Debit column to which a normal balance in the following accounts should be extended. Use IS for the Income Statement Debit column and BS for the Balance Sheet and Statement of Owner's Equity Debit column. a. b. c. d. e. f. Equipment Owner, Withdrawals Prepaid Rent Depreciation Expense- Equipment Accounts Receivable Insurance Expense 4. Hawk Company records prepaid assets and unearned revenues in balance sheet accounts. The following information was used to prepare adjusting entries for the company as of August 31, the end of the company's fiscal year. The company has earned $6,000 in service fees that were not yet recorded at period-end. b.The expired portion of prepaid insurance is $3,700. The company has earned $2,900 of its Unearned Service Fees c. account balance. d.Depreciation expense for office equipment is $3,300. e.Employees have earned but have not been paid salaries of $3,400. a. 5. Prepare a balance sheet with the given information. Account Title Debit Credit Cash $ 8,000 Accounts receivable 17,500 Office supplies 3,000 Trucks 172,000 Accumulated $ 36,000 depreciationTrucks Land 85,000 Accounts payable 12,000 Interest payable 4,000 Long-term notes 53,000 payable K. Wilson, Capital 175,000 K. Wilson, 20,000 Withdrawals Trucking fees 130,000 earned Depreciation 23,500 expenseTrucks Salaries expense 61,000 Office supplies 8,000 expense Repairs expense 12,000 Trucks Totals $410,000 $ 410,000 Wilson Trucking Company Balance Sheet December 31,2015 Assets Current Assets Total Current Assets Plant Assets Total Plant Assets Total Assets Liabilities Current Liabilities Total Current Liabilities Long term Liabilities Total Liabilities Equity Total Liabilities and EquityStep by Step Solution
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