Delta Services Inc Scenario Adjusted Trial Balance and Financial Statements Trial Balance Data Cash $40,000 Accounts Receivable $25,000 Supplies $5,000 Accounts Payable $10,000 Capital $60,000 Adjustments Supplies expense $2,000 (used) Depreciation expense $5,000 Requirements Prepare the adjusted t...

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Delta Services Inc. Scenario: Adjusted Trial Balance and Financial Statements Trial Balance Data: Cash: $40,000 Accounts Receivable:

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Delta Services Inc.

Scenario: Adjusted Trial Balance and Financial Statements

Trial Balance Data:

Cash: $40,000
Accounts Receivable: $25,000
Supplies: $5,000
Accounts Payable: $10,000
Capital: $60,000

Adjustments:

Supplies expense: $2,000 (used)
Depreciation expense: $5,000

Requirements:

Prepare the adjusted trial balance.
Prepare the income statement and balance sheet based on the adjusted trial balance.
Discuss the impact of adjustments on the financial statements.

Posted Date: May 30, 2024 07:36 AM

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Delta Services Inc. Scenario: Adjusted Trial Balance and Financial Statements Trial Balance Data: Cash: $40,000 Accounts Receivable:

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