Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need help to create an Income statement and balance sheet using the following information Also, verify if the adjusted trial balances are correct Account
I need help to create an Income statement and balance sheet using the following information
Also, verify if the adjusted trial balances are correct
Account Name Cash Accounts Receivable Prepaid Insurance Prepaid Rent Office Supplies Office Equip Accum. Depr.-Office Equip Computer Equip Accum. Depr.-Computer Equip. Building Cost Accum. Depr.-Building Land Accounts Payable Advanced Payments Interest Payable Salaries Payable Mortgage Payable Notes Payable Hudson Bloom, Capital Hudson Bloom, Withdrawals Unadjusted Trial Balance Debit Credit 94,424.00 0.00 1,275.00 0.00 5,136.00 0.00 5,100.00 0.00 505.00 0.00 1,755.00 0.00 0.00 0.00 192,000.00 0.00 0.00 0.00 120,000.00 0.00 0.00 0.00 23,000.00 0.00 0.00 1,420.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 128,700.00 0.00 90,500.00 0.00 211,075.00 1,900.00 0.00 Adjusting Entries Debit Credit 0.00 0.00 9,250.00 0.00 0.00 214.00 0.00 1,700.00 0.00 303.00 0.00 0.00 0.00 16.73 0.00 0.00 0.00 3,200.00 0.00 0.00 0.00 298.94 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,304.19 0.00 606.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Adjusted Trial Balance Debit Credit 94,424.00 10,525.00 4,922.00 3,400.00 202.00 1,755.00 16.73 192,000.00 3,200.00 120,000.00 298.94 23,000.0 1,420.00 1,304.20 606.00 128,700.00 90,500.00 211,075.00 1,900.00 27,100.00 Computer & Consulting Revenue Rent Expense Salary Expense Advertising Expense Repairs & Maint. Expense Oil & Gas Expense Supplies Expense Interest Expense Insurance Expense Depreciation Expense 0.00 0.00 2,020.00 275.00 1,240.00 915.00 0.00 0.00 0.00 0.00 17,850.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.001 1,700.00 606.00 0.00 0.00 0.00 303.00 1,304.19 214.00 3,515.67 9,250.000 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,700.00 2,626.00 275.00 1,240.00 915.00 303.00 1,304.20 214.00 3,515.67 449,545.00 449,545.00 16,892.86 16,892.86 464,200.87 464,200.87 Total NET INCOME Balance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started