Question
Here is the information in English: I. Determine the status of each of the following accounts. Type IS for Income Statement, RE for Retained Earnings
Here is the information in English:
I. Determine the status of each of the following accounts. Type IS for Income
Statement, RE for Retained Earnings Statement and BS for Balance Sheet.
- Sales Discounts
- Accounts Receivable
- Dividends
- Rent Expense
- Accounts Payable
- Cost of Goods Sold
- Interest Income
- Common Stock
- Long Term Investments
- Salaries Expense
- Retained Earnings
- Cash
- Depreciation Expense
- Bonds Payable
- Notes Payable
- Buildings
- Discount on Notes Payable
- Supplies
- Supplies Expense
- Preferred Stock
- Advertising Expense
- Inventories
- Rent Revenue
- Interest Expense
- Prepaid Insurance
- Sales Returns and Allowances
- Truck Expense
- Interest Payable
- Income Tax Payable
- Treasury Stock
- Unearned Rent Revenue
- Land
- Allowance for Bad Debts
- Additional Paid In Capital
- Sales
- Salaries Payable
- Accumulated Depreciation
- Insurance Expense
- Income Tax Expense
- Equipment
II. Classify the accounts from the previous list. Use CA for current assets, NCA for Non-current assets, CL for current liabilities, NCL for non-current liabilities, SE for stockholders' equity, R for income, E for expenses.
III. Using Marion Corporation's list of accounts, prepare a verification balance sheet for the 31 August 2020.
- Sales Revenue 755,200
- Utilities Expense 14,000
- Salaries and Wages Expense 140,000
- Cash 8,700
- Retained Earnings-31/08/2019 90,000
- Inventory 44,700
- Sales Discounts 8,800
- Common Stock 80,000
- Accounts Payable 28,500
- Advertising Expense 34,400
- Accounts Receivable 30,700
- Cost of Goods Sold 527,400
- Delivery Expense 36,700
- Supplies 6,200
- Notes Payable 51,000
- Equipment 133,000
- Dividends 12,000
- Rent Expense 24,000
- Accumulated Depreciation-Equipment 28,000
- Repairs Expense 12,100
Register the adjustment entries for Marion Corp as at 31 August 2020, using the following information.
Hand-held materials are $2,000.
The team's depreciation is $11,500.
There's interest accruing for the notes payable of $4,000.
The current inventory balance is $44,400.
Prepare a corporate balance sheet after adjustments.
Prepare an income statement
Prepare a retained earnings statement
Prepare a balance sheet.
1.Determine en que estado se reporta cada una de las siguientes cuentas. Escriba IS para Income Statement(Estado de ingresos), RE para Retained Earnings Statement(Estado de Beneficios Retenidos) y BS para Balance Sheet(Estado de Situacin). II. Clasifique las cuentas del listado anterior. Utilice CA para current assets(activos corrientes), NCA para Non current assets(activos no corrientes), CL para current liabilities(pasivos corrientes), NCL para non current liabilities(pasivos no corrientes), SE para stockholders' equity(capital), R para revenues(ingresos), E para expenses(gastos). III. Utilizando ei listado de cuentas de Marion Corporation, prepare un balance de comprobacin para el Registre las entradas de ajuste para Marion Corp al 31 de agosto de 2020 , utilizando la siguiente informacin. Los materiales a mano son de $2000. La depreciacin del equipo es de $11,500 Hay intereses acumulados por las notas a pagar de $4,000. El balance actual del inventario es de $44,400. Prepare un balance de corporacin despus de ajustes. Prepare un estado de ingresos. Prepare un estado de beneficios retenidos. Prepare un estado de situacin
Here is the information in English:
I. Determine the status of each of the following accounts. Type IS for Income
Statement, RE for Retained Earnings Statement and BS for Balance Sheet.
- Sales Discounts
- Accounts Receivable
- Dividends
- Rent Expense
- Accounts Payable
- Cost of Goods Sold
- Interest Income
- Common Stock
- Long Term Investments
- Salaries Expense
- Retained Earnings
- Cash
- Depreciation Expense
- Bonds Payable
- Notes Payable
- Buildings
- Discount on Notes Payable
- Supplies
- Supplies Expense
- Preferred Stock
- Advertising Expense
- Inventories
- Rent Revenue
- Interest Expense
- Prepaid Insurance
- Sales Returns and Allowances
- Truck Expense
- Interest Payable
- Income Tax Payable
- Treasury Stock
- Unearned Rent Revenue
- Land
- Allowance for Bad Debts
- Additional Paid In Capital
- Sales
- Salaries Payable
- Accumulated Depreciation
- Insurance Expense
- Income Tax Expense
- Equipment
II. Classify the accounts from the previous list. Use CA for current assets, NCA for Non-current assets, CL for current liabilities, NCL for non-current liabilities, SE for stockholders' equity, R for income, E for expenses.
III. Using Marion Corporation's list of accounts, prepare a verification balance sheet for the 31 August 2020.
- Sales Revenue 755,200
- Utilities Expense 14,000
- Salaries and Wages Expense 140,000
- Cash 8,700
- Retained Earnings-31/08/2019 90,000
- Inventory 44,700
- Sales Discounts 8,800
- Common Stock 80,000
- Accounts Payable 28,500
- Advertising Expense 34,400
- Accounts Receivable 30,700
- Cost of Goods Sold 527,400
- Delivery Expense 36,700
- Supplies 6,200
- Notes Payable 51,000
- Equipment 133,000
- Dividends 12,000
- Rent Expense 24,000
- Accumulated Depreciation-Equipment 28,000
- Repairs Expense 12,100
Register the adjustment entries for Marion Corp as at 31 August 2020, using the following information.
Hand-held materials are $2,000.
The team's depreciation is $11,500.
There's interest accruing for the notes payable of $4,000.
The current inventory balance is $44,400.
Prepare a corporate balance sheet after adjustments.
Prepare an income statement
Prepare a retained earnings statement
Prepare a balance sheet.
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