Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

FedEx Corporation E4-2 accounts Adjustments trial balance at May 31. prior to preparing financial statenNat Credit a Trial alphabet Bal the from Preparing 2013 Assume

image text in transcribed
FedEx Corporation E4-2 accounts Adjustments trial balance at May 31. prior to preparing financial statenNat Credit a Trial alphabet Bal the from Preparing 2013 Assume following sheet Financial Results and included and reported Financial in its Corporation balance dentifying statements, FedEx Financial LO 4 4-1, Adjustments 4-4 listed Debit 2,900 Accounts payable S 5.000. 19.600 Accounts R Depreciation-Equipment Accumulated 2.700 Common Stock Depreciation Expense 70 3800 900 Income Tax Expense Tax payable Interest Receivable Interest Revenue 7.700 Notes Payable (long-term) (short-term 7.540 Office Ex 850 2,500 rs and Maintenance Expense 17.100 Retained Earnings Salaries and Wages Expense Salaries and Wages Payable 44.200 Service Revenue 450 Transportation Expense 11,900 $97,120 Required: 1. Based on the trial balance, provide the name of the account that would accompany (a) 2. Rent Depreciation Expense in deferral adjustments at May 31. Interest Based on the trial balance, provide the name of the account that would accompany (a) 3. Revenue and (b) Salaries and Wage Expense in accrual adjustments at 31 Prepare an income statement, statement of retained earnings, and classified balance sheet the year ended May 31, 2013. 0 4-1, 4-2 E4-3 Recording Initial Transaction and illh FedEx Corporation E4-2 accounts Adjustments trial balance at May 31. prior to preparing financial statenNat Credit a Trial alphabet Bal the from Preparing 2013 Assume following sheet Financial Results and included and reported Financial in its Corporation balance dentifying statements, FedEx Financial LO 4 4-1, Adjustments 4-4 listed Debit 2,900 Accounts payable S 5.000. 19.600 Accounts R Depreciation-Equipment Accumulated 2.700 Common Stock Depreciation Expense 70 3800 900 Income Tax Expense Tax payable Interest Receivable Interest Revenue 7.700 Notes Payable (long-term) (short-term 7.540 Office Ex 850 2,500 rs and Maintenance Expense 17.100 Retained Earnings Salaries and Wages Expense Salaries and Wages Payable 44.200 Service Revenue 450 Transportation Expense 11,900 $97,120 Required: 1. Based on the trial balance, provide the name of the account that would accompany (a) 2. Rent Depreciation Expense in deferral adjustments at May 31. Interest Based on the trial balance, provide the name of the account that would accompany (a) 3. Revenue and (b) Salaries and Wage Expense in accrual adjustments at 31 Prepare an income statement, statement of retained earnings, and classified balance sheet the year ended May 31, 2013. 0 4-1, 4-2 E4-3 Recording Initial Transaction and illh

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

Step: 3

blur-text-image

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

Ethics Management Auditing And Developing The Ethical Content Of Organizations

Authors: S.P. Kaptein

1st Edition

0792350960, 978-0792350965

More Books

Students also viewed these Accounting questions