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cant figure out retained earnings, revenue and expenses T-Accounts or Leger Accounts: Cash Beg Bal S12 S14 b S4 S4 d. S47 28 $7 S10
cant figure out retained earnings, revenue and expenses
T-Accounts or Leger Accounts: Cash Beg Bal S12 S14 b S4 S4 d. S47 28 $7 S10 i Accounts Receivable Beg Bal. SS 5 8 57 h End. Bal. Supplies Equipment Beg Bal. b $ 9 97 $14 54 End. Bal. $35 $5 $3-$9.95 - $7. Accumulated Depreciation Beg Ball Software $13 Sim End. Bal. SI Accumulated Amortization S8 $4 . End. Bal S13 Accounts Payable Beg Bal. S10 59 End. Bal. Salaries and Wages Payable Beg Bal Notes Payable (short-term) SO SI2 a. S12 Interest Payable Income Tax Para Deferred Revenue Common Stock SIS Retained Earnings Service Renee Income Tax Expense Interest Expense End. Bal. Depreciation Expense Bee, Ral Supplies Expenses Beg Bal. End. Bal. Salaries and Wages Expose Reg. Ral End. Bal Ameritration Expense Beg Ball S End. Bal. $30 End. Bal Note: As per the requirement. inshalar shows in each T-Account accountil alone with mastime a ll the transactions in Answer is given below Credit LAZY SOFA FURNITURE INC. Unadjusted Trial Balance At December 31, 2018 in thousands Account Title Debit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Account payable Notes payable(short-term) Salaries and wages payable Interest payable Income tax payable Deferred Revenue Common Stock Retained Earnings Service Revenue Supplies expenses Salaries and wages expense Depreciation expense Amortization expenses Interest expense Income tax expense Totals LI TUUUUUUUUUUUUIJL JUPUY - Debit Credit in m $ 0 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (long-term) Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Supplies Expense Depreciation Expense Salaries and Wages Expense Amortization Expense Interest Expense Income Tax Expense Totals un uomo $32 $ 32 Transactions during 2018 (summarized in thousands of dollars) follow: Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $12 cash on July 1, 2018, signing a six-month note payable. b. Purchased equipment for $14 cash on July 2. c. Issued additional shares of common stock on July 3 for $4. d. Purchased additional equipment on August 4, $4 cash. e Purchased, on account, supplies on September 5 for future use, $9. f. On December 6, recorded revenues in the amount of $55, including $8 on credit and $47 received in cash. g. Paid salaries and wages expenses on December 7, $28. h. Collected accounts receivable on December 8, $7. 1. Paid accounts payable on December 9, $10. J. Received a $4 deposit on December 10 for work to start January 15, 2019. Data for adjusting journal entries on December 31: k. Amortization for 2018, $4. 1. Supplies of $5 were counted on December 31, 2018 m. Depreciation for 2018, $1. n. Accrued interest on notes payable of $2 o. Wages earned but not yet paid, $2. p. Income tax for 2018 was $7 and will be paid in 2019. Credit rs LAZY SOFA FURNITURE, INC. Post-Closing Trial Balance At December 31, 2018 (in thousands) Account Titles Debit Cash 22 Accounts Receivable Supplies 5 Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries and Wages Expenses Supplies Expenses Depreciation Expense Amortization Expense Interest Expense Income Tax Expense Totals $ 71 ANNIN $ 69 Step by Step Solution
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