Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help making an income statment and a balance sheet for the following pictures below. i think i have the rest done right, I'm

i need help making an income statment and a balance sheet for the following pictures below. i think i have the rest done right, I'm just stuck on the income statment and balance sheet as I'm not sure what numbers to put over. image text in transcribed
image text in transcribed
\begin{tabular}{l|r|} \hline Gas Expense & 7,200.00 \\ \hline Rent Expense & 20,000.00 \\ \hline Insurance Expense & 3,000,00 \\ \hline Office Supplies Expense & 2,250,00 \\ \hline & 380,605.00 \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} The automobile insurance policy examination shows $600 has expired A physical count of the office supplies shows a remaining value of $1,200. Record the used amount. The estimated depreciation of security equipment is $1,600. The payroll of the company is done each Friday (for the previous 5 days). December 31 is on Tuesday. There are three employees and each employee makes $170 a day. An adjusting entry must be made to record the accrued salary for the days acerued for these employees. The automobile that Mr. Preston uses to drive to the businesses of his clients cost $55,000. He bought it in 2028 . It is estimated that the car will last 4 years and will be sold for $25,000. The car is now 18 months old. Record the depreciation for the car for 2029. On November 1, Mr. Preston paid $10,000 for 5 months rent in advance, It is now Dee 31. Record the amount of rent expired. nplete the full worksheet by extending the amounts to the Adjusted Trial Balance, Income Statement and the Balance Sheet columns. (35 Points)

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

Todays Mood Is Sponsored By Auditing

Authors: Ruby Publishing

1st Edition

B08BG52SST, 979-8655512771

More Books

Students also viewed these Accounting questions

Question

5. Describe the relationship between history and identity.

Answered: 1 week ago