Answered step by step
Verified Expert Solution
Question
1 Approved Answer
INSTRUCTIONS A. Prepare the adjusted TrialBalance B. Prepare a classified BalanceSheet C. Establish the final(corrected)entries in the journal During the course of 2017, Google LLC's
INSTRUCTIONS A. Prepare the adjusted TrialBalance B. Prepare a classified BalanceSheet C. Establish the final(corrected)entries in the journal
During the course of 2017, Google LLC's accounting team prepared a trial balanced (stated below) but afterwards, pertinent data was revealed, noting that insurance expired at the rate of $200 per month, $1.000 of supplies are on hand at August 31st, monthly depreciation on the equipment is $900 and there interest of $500 on the notes payable which has accrued during the month of August Financial statements for the year ended in December 31st, 2018 are displayed below. FINANCIAL STATEMENTS Google LLC Trial Balance December 31st, 2018 CREDIT DEBIT $5,400.00 $2,800.00 $1,300.00 $2,400.00 $60,000.00 Assets Cash Accounts receivable Supplies Prepaid insurance Equipment Notes payable Accounts payable Common stock Dividends Service revenue Salaries and wages expense Utilities expense Advertising expense $40,000.00 $2,400.00 $30,000.00 $1,000.00 $4,900.00 $3,200.00 $800.00 $400.00 TOTALS $77,300.00 $77,300.00 During the course of 2017, Google LLC's accounting team prepared a trial balanced (stated below) but afterwards, pertinent data was revealed, noting that insurance expired at the rate of $200 per month, $1.000 of supplies are on hand at August 31st, monthly depreciation on the equipment is $900 and there interest of $500 on the notes payable which has accrued during the month of August Financial statements for the year ended in December 31st, 2018 are displayed below. FINANCIAL STATEMENTS Google LLC Trial Balance December 31st, 2018 CREDIT DEBIT $5,400.00 $2,800.00 $1,300.00 $2,400.00 $60,000.00 Assets Cash Accounts receivable Supplies Prepaid insurance Equipment Notes payable Accounts payable Common stock Dividends Service revenue Salaries and wages expense Utilities expense Advertising expense $40,000.00 $2,400.00 $30,000.00 $1,000.00 $4,900.00 $3,200.00 $800.00 $400.00 TOTALS $77,300.00 $77,300.00Step 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