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How do I fill this out? I figured it out! Someone explained it to me. Roth Contractors Corporation Income Statement For the Month Ended Dec
How do I fill this out?
I figured it out! Someone explained it to me.
Roth Contractors Corporation Income Statement For the Month Ended Dec 31, 2019 Revenue Roth Contractors Corporation Balance Sheet At December 31, 2019 Assets Expenses Liabilities Roth Contractors Corporation Statement of Changes in Equity For the Month Ended December 31, 2019 Stockholders' Equity Common stock Retained earnings Total equity Opening balance Ending balance C D E F G H 5 Amount 2,000 2,400 13,000 1,600 2,280 6,000 4,000 2019 December a. b C. 6 d. 2 e f. 9 8 10 h 11 12 13 14 15 16 L 17 18 k 19 I. 20 21 22 Transactions Issued common stock for cash Paid cash for three month's rent: December 2019, January and February 2020 Purchased a used truck on credit (recorded as an account payable) Purchased supplies on credit. These are expected to be used during the month (recorded as expense) Paid for a one-year truck Insurance policy, effective December 1 Billed a customer for work completed to date Collected cash for work completed to date Paid the following expenses in cash: Advertising Interest Telephone Truck operating Wages Collected part of the amount billed inf above Billed customers for work completed to date Signed a contract for work to be performed in January 2020 Paid the following expenses in cash: Advertising Interest Truck operating Wages Collected an advance on work to be done in January (the policy of the coproration is to record such advances as revenue at the the time they are received) Received a bill for electricity used during the month (recorded as utilities expense) 700 700 800 600 5,000 1,000 7,000 5,000 - 600 600 900 2,000 m. 24 25 26 n. 2.000 800 29 30 31 32 33 36 Transactions PLA Adj. Entries PLD T-accounts Jnl. Entre Adj. Tal Bal. Statements Copyriy 30 F3 000 DOO 55 16 17 @ A 2 # 3 $ 4 % 5 6 & 7 tab Q W E R T T Y Amount $100 $2,000 B D H 1 2019 2 December Adjusting Entries 3 0. One month of the prepaid insurance has expired. p. The December portion of the rent paid on December 1 has expired. 5 Counted supplies and found this amount still on hand (recorded the amount used as an expense) 6 The amount collected in transaction mis unearned at December 31. 2 5 Three days of wages for December 29, 30, and 31 are unpaid. These will be 8 paid in January 9 t One month of depreciation needs to be recorded. Estimated useful life of truck in years is: 10 u. Income taxes expense to be paid in the next fiscal year. 11 12 13 14 $2,900 3 $100 15 16 17 18 19 20 21 22 23 24 25 26 27 20 30 33 34 Transactions Pt. A Adi Entries PLB T-accounts hl Entries Adj. Trial Bal Statements esc 30 80 000 GO F4 16 @ 1 2 # 3 $ 4 % 5 6 & 7 tab Q W E R -1 Y V Roth Contractors Corporation Income Statement For the Month Ended Dec 31, 2019 Revenue Roth Contractors Corporation Balance Sheet At December 31, 2019 Assets Expenses Liabilities Roth Contractors Corporation Statement of Changes in Equity For the Month Ended December 31, 2019 Stockholders' Equity Common stock Retained earnings Total equity Opening balance Ending balance C D E F G H 5 Amount 2,000 2,400 13,000 1,600 2,280 6,000 4,000 2019 December a. b C. 6 d. 2 e f. 9 8 10 h 11 12 13 14 15 16 L 17 18 k 19 I. 20 21 22 Transactions Issued common stock for cash Paid cash for three month's rent: December 2019, January and February 2020 Purchased a used truck on credit (recorded as an account payable) Purchased supplies on credit. These are expected to be used during the month (recorded as expense) Paid for a one-year truck Insurance policy, effective December 1 Billed a customer for work completed to date Collected cash for work completed to date Paid the following expenses in cash: Advertising Interest Telephone Truck operating Wages Collected part of the amount billed inf above Billed customers for work completed to date Signed a contract for work to be performed in January 2020 Paid the following expenses in cash: Advertising Interest Truck operating Wages Collected an advance on work to be done in January (the policy of the coproration is to record such advances as revenue at the the time they are received) Received a bill for electricity used during the month (recorded as utilities expense) 700 700 800 600 5,000 1,000 7,000 5,000 - 600 600 900 2,000 m. 24 25 26 n. 2.000 800 29 30 31 32 33 36 Transactions PLA Adj. Entries PLD T-accounts Jnl. Entre Adj. Tal Bal. Statements Copyriy 30 F3 000 DOO 55 16 17 @ A 2 # 3 $ 4 % 5 6 & 7 tab Q W E R T T Y Amount $100 $2,000 B D H 1 2019 2 December Adjusting Entries 3 0. One month of the prepaid insurance has expired. p. The December portion of the rent paid on December 1 has expired. 5 Counted supplies and found this amount still on hand (recorded the amount used as an expense) 6 The amount collected in transaction mis unearned at December 31. 2 5 Three days of wages for December 29, 30, and 31 are unpaid. These will be 8 paid in January 9 t One month of depreciation needs to be recorded. Estimated useful life of truck in years is: 10 u. Income taxes expense to be paid in the next fiscal year. 11 12 13 14 $2,900 3 $100 15 16 17 18 19 20 21 22 23 24 25 26 27 20 30 33 34 Transactions Pt. A Adi Entries PLB T-accounts hl Entries Adj. Trial Bal Statements esc 30 80 000 GO F4 16 @ 1 2 # 3 $ 4 % 5 6 & 7 tab Q W E R -1 Y V Step by Step Solution
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