Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

COMPLETION OF THE ACCOUNTING CYCLE Task #4 Using the adjusted trial balance below: (a) (b) (c) (d) Prepare an income statement, statement of owner's equity

COMPLETION OF THE ACCOUNTING CYCLE
Task #4
Using the adjusted trial balance below:
(a)
(b)
(c)
(d)
Prepare an income statement, statement of owner's equity and classified balance sheet.
Prepare the closing entries
Post to Capital and the Income Summary accounts
Prepare a post-closing trial balance
JUAREZ'S D.J. ON DEMAND
Adjusted Trial Balance
For the Month Ended July 31, 2021
Account Tities
Cash
Accounts Receivable
Equipment
Accum. Depreciation
Accounts Pavable
Unearned Rent Revenue
Capital
Withdrawals
Service Revenue
Rent Revenue
Depreciation Expense
Salaries Expense
Unity Expense
Dr.
43.880
1.600
10.500
Cr.
200
1.580
520
2,700
31.700
53.890
2.690
290
32.300
4.310
93.080
93.080
image text in transcribed
image text in transcribed
image text in transcribed
S. Name COMPLETION OF THE ACCOUNTING CYCLE Task 4 Using the adjusted trial balance below () Prepare an income statement, statement of wner's equity and denied balance sheet. h) Prepare the desig entries (c Post to Capital and the Income Summary (4) Prepare a post-coding trial balance JUAREZ'S DJ ON DEMAND Adjusted Trial Balance For the Month Ended July 31, 2001 De Act Titles 43.850 1.000 10.500 1.580 520 2.700 31.700 Account Recevable Equip Acum Depreciation Accounts Pavale Uneamed Ret Reverne Capital Withdrawals Service Revenue Rent Revente Depreciation Expense Salaries Expand Udry Expense 200 33.890 2.690 290 32300 4310 93.00 93.080 Kevin Juares Tankar JUAREZ DON DEMAND Income For the Moded July 31, 2001 TW Topen Net Income ( JUAREZ'S DI ON DEMAND Statant of Owner's Equity For the Month Ended Juhy 31, 2021 Capital, June 10, 2021 Add Les capital, July 31, 2021 JUAREZS DUI. ON DEMAND Hallance Sheet July 31, 2021 Assets Current Total current assets Property, plant and equipment Total Property, plant and equipment Total assets Liabilities and Owner's Equity Current liabilities Total current liabilities Owner's equity Total liabilities and owner's equity GR Gm ) Dhe C 11 37 Job 37 1 Capital N1 No Ed C 31 TWE Clestry Clow WIVUJSIMEO J15 15 Na 10 Du C. Income Summary Jan k Etuy Closing CE Ref JIS JIS 315 JUAREZ'S DJI ON DEMAND Post-Cloning Trial Balance For the Month Ended Juhy 31, 2021 De Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

22nd Edition

324401841, 978-0-324-6250, 0-324-62509-X, 978-0324401844

More Books

Students also viewed these Accounting questions