LAST!!
Hi! I already finished until the unadjusted trial balance. I separated the needed answers since I know youre not allowed to answer all. Please answer only the one that I included with "need to answer". My assignment needs the following:
a. Adjusted Trial Balance (posted a separate question for this)
b. Income Statement (posted a separate question for this also)
c. Balance Sheet (posted a separate question for this)
d. Statement of Changes in Equity (posted a separate question for this also)
e. Statement of Cash Flows (posted a separate question for this)
f. Closing entries (posted a separate question for this too)
g. Adjusted Trial Balance (THE ONLY THING U NEED TO ANSWER) THANK YOU THANK YOUUU
note: I separated the questions for a to f. I'm still waiting for my questions to be answered. I only answered until the trial balance. I know it's confusing but I posted them separately since an expert is not allowed to answer all. That's why.
edit: Hi! no need for adjustment entries. unadjusted and the first adjusted trial balance are the same amount. Here's the income statement, balance sheet, and changes in equity.
If you can, please answer cash flows, closing entries, and the final adjusted trial balance. Thank you so much!!
= Chegg Study Textbook Solutions Expert Q&A Practice Study Pack Anonymous answered this Was this answer helpful? 31 a 34 answers b) Income Statement: Rental Revenues 21900 Less: Direct Expenses (Wages Exp) 1600 Gross Profit 20300 Less: Indirect Expenses Maintenance Expense 750 Repair Expense 550 Concession Fee Expense 3000 Net Profit 16000 c) Balance Sheet Liabilities Amount Assets Amount Capital 131000 Non-current Assets Supplies 1500 Non Current Liabilities 0 0 Bicycles 25000 Container 35000 61500 Current Liabilities Current Assets Accounts Payable 12000 Cash 80400 MPR 18 4 C 5W ACAOTOC = Chegg Study Textbook Solutions Expert Q&A Practice Study Pack Repair Expense 550 Concession Fee Experse 3000 Net Profit 16000 c) Balance Sheet Liabilities Amount Assets Amount Capital 131000 Non-current Assets Supplies 1500 Non Current Liabilities D Bicycles 25000 Container 35000 61500 Current Liabilities Current Assets 12000 Cash 80400 Accounts Payable 12000 81500 Account Receivable 1100 143000 143000 D) Statement of Changes in Equity Capital As per Trial balance 115000 Add: Net Profit Earned 16000 Capital Transfer to balance sheet* 131000 View comments (1) > III AFR 18 A C aw a ACADOC M D H Defu BY GABE... 0 T-2. 1 Milagros Marohombo won a concession to rent our bicycles in the Rizal Park during the summer. During the month of August, Marchombor completed the following transactions for her bicycle rental H N P 5 Milagros Marohombar won a concession to rent our bicycles in the Rizal Park during the summer. During the month of August, Marohombser completed the following transaction for her bicycle rental business 2-Aug Megan business by placing $120.000 in business checking account 3 Purchased supplies on count for $1500 4 Purchased ten bicycles for $25.000, paying $13.000 down and agreed to pay the balance in 30 days. 5 Paid 531,000 in cash for a furnished container to store the bicycles and use for other operations 6 Received 54,700 cash for rentals during first week of operations 8 Paid $4,000 in cash for the cost of container) to place the container at the park entrance. 9 Hired a part-time assistant to help on weekends 10 Paid a maintenance person $7.50 to clean the grounds 12 Received $6.500 in cash for rentals during the second week of operations. 16 Paid the assistant 5560 for weekend work. 17 Paid supplies purchased on August 18 Paid a $550 repair bill on bicycles 20 Received $5,500 in cash for rentals during the third week of operations 22 Paid the assant $40 for weekend's work. 23 Silled an entity $1,100 for bicycle rentals for employees' outing 25 Paid the $1.000 fee for Augusto Park Adn concession 27 Received $4,100 in cash for rentals during the week 29 Paid the assistant $560 for weekend's work 30 Transferred $5,000 to personal checking count . 100% $ * .00 123- Default (Ca... 18 BI & A I... CO fx JOURNAL A D E c TRIAL BALANCE PR ACCOUNT TITLES DEBIT CREDIT 80,400 1,100 1,500 25,000 35,000 Cash Accounts Receivable Supplies Bicycles Container Accounts Payable Marohombsar, Capital Rental Revenues Wages Expense Maintenance Expense Repair Expense Concession Fee Expense 12,000 115,000 21,900 1,600 750 550 3,000 148,900 148,900
