Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help making the income statement and balance sheet for accounting. I would appreciate it if the math was also included, Thanks! BALANCE SHEET INCOME

image text in transcribed

Need help making the income statement and balance sheet for accounting.

I would appreciate it if the math was also included, Thanks!

BALANCE SHEET INCOME STATEMENT *Using the adjusted trial balance below: *Make the necessary adjustments *Prepare a balance sheet and income statement for the company. Adjustments Required A- Repair service of $3,000 has been completed but the invoices not received from the vendor B-$400 of office supplies were used in the month C- The company paid $1,000 on the note payable that included $300 of interest. Acct # Desc 1001 Cash 1020 AR 1030 PPD Rent 1040 Supplies 1050 Inventory 1100 NR 1110 Int Rec 1200 Office equp 1300 Accum Depn 2001 AP 2100 Sal Pay 2200 NP 2250 Interest Pay 2300 Def Rent Rev 3000 Common Stock 3500 RE 4000 Sales Rev 4500 Rent Rev 4600 Interest Rev 5000 COS 5100 Wage Exp 5200 Rent Exp 5300 Depn Exp 5400 Supples Exp 5500 Interst Exp 5600 Advertising Exp Unadjusted Adjustment 54,000 38,000 1,200 2,000 60,500 33,000 1,650 48,000 (21,800) (38,200) (6,500) (53,000) (2,800) (2.300) (50,000) (29,600) (247,000) (4,300) (1,650) 131,500 54,200 12.100 7,100 2,100 8,500 3,300 Adjusted 54,000 38,000 1,200 2,000 60,500 33,000 1,650 48,000 (21,800) (38,200) (6,500) (53,000) 2,800) (2,300) (50,000) (29,600) (247,000) 4,300) (1,650) 131,500 54,200 12, 100 7,100 2,100 8,500 3,300 Total

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

Auditing and Assurance services an integrated approach

Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley

14th Edition

133081605, 132575957, 9780133081602, 978-0132575959

More Books

Students also viewed these Accounting questions

Question

What is carpal tunnel syndrome?

Answered: 1 week ago