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I do not have clue with this sheet. Could you provide Smart Touch learning income statement (For the period ended Dec. 31, 2019?) on the
I do not have clue with this sheet. Could you provide Smart Touch learning income statement (For the period ended Dec. 31, 2019?) on the right side and left side as well?
1 Introduce adjusting entries K LM Account balances as of the end of the What adjustments last day of need to be made Adjusted account the month at month end? balances 3 N P a F 5 T 1. The $3000 prepaid rent was paid on Deck for December, Jan and Feb. 2. On Dec 31 office Supplies were counted $100 remains 3. The $18,000 of furniture was purchased on Dec 2. It has a 5 year life. ($200 depreciation. 4. The building was purchased on Dect it has a 20 year life 15.250 depreciation 5. On Dec 21, customer paid $600 in advance for 30 days consulting services. ($200 was earned), 6. Payrolia 52.400 per month half paid on the 15th and halt paid on the first cerve $1.2001 7. The building was purchased with a $60,000 Note Payable, interest is 2% per year Accrue $100) The company did work for so that was not recorded 5 Smart Touch Learning 6 31 December, 2019 , 7 Account Name Adjustments Debit Credit Adjusted Trial Balance Debit Credit 9 Cash 10 Accounts Receivable 2 Office Supplies 12 Prepaid Rent 13 Furniture 14 Accumulated Depr. Furniture Unadjusted Trial Balance Debit Credit 12.200 1,000 SOO 3,000 18.000 400 1.000 200 2,000 300 *5 Building 60 000 250 Smart Touch Learning Income Statement For the period ended Dec. 31, 2019 Revenue Rent Expense Salaries Expense utilities Expense Interest Expense Supplies Expense Depreciation Expense - Furniture Depreciation Expense - Building Total Expenses Net Income 20.000 200 1.200 100 Smart Touch Learning Balance Sheet Dec 31, 2019 ASSETS Cash Accounts Receivable Office Supplies Prepaid Rent Furniture Accum. Depr. Furniture Building Accum Depr - Building Land Total Assets uabilities Accounts Payable Salaries Payable Utilities Payable Interest Payable Uneamed Revenue Notes Payable 200 16 Accumulated Depr - Building 17 Land 19 Accounts Payable 19 Salaries Payable 2Utilities Payable 21 Interest Payable 22 Unearned Revenue 23 Notes Payable 24 Owner's Capital 25 Owner Withdrawals 26 Revenue 27 Rent Expense 2 Salaries Expense 29 Utilities Expense 30 Interest Expense 31 Supplies Expense 400 600 60,000 48.000 5,000 26,500 200 16,700 3.000 2.000 3.600 100 1,000 1.200 Smart Touch Learning Statement of Owner's Equity For the period ended 31 Dec., 2019 Owner's Equity, Decemer 1, 2019 Additions: Owner's Contributions Net Income Total Additions 400 400Step by Step Solution
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