Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

om Income Statement For Qur. Ending 121312 Revenues Tatal Revenues Gross Profit Operating Expenses: 1 Total Operating Expenses: 1 2 Net Income 4 5 A

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

om Income Statement For Qur. Ending 121312 Revenues Tatal Revenues Gross Profit Operating Expenses: 1 Total Operating Expenses: 1 2 Net Income 4 5 A Company Balance Sheet As of December 31, 20XX Assets Current Assets: Liabilities and Owners' Equity Current Liabilities: Total Current Liabilities Long Term Liabilities: Total Current Assets Total Long Term Liabilities: Total Liabilities: 7 8 Shareholder's Equity: Non-Current Assets: 21 22 Total Equity 24 Baking Equipment (Net) 26 Total Assets: Total Liabilities & Equity 29 Adjusting Entries Income Statement Statement of Stockholder Equity Balance Adjusting entries Debit Credit Trial Balance 20xx Unadjusted trial balance Debit Credit 51,436.75 20,500.00 175.65 1,500.00 1,200.00 5,000.00 19,400.00 200.00 Adjusted trial balance Debit Credit 51,436.75 1,100.00 175.65 1,500.00 1,000.00 5,000.00 208.33 50.00 9,700.00 10,000.00 150.00 7,000.00 480.00 30,000.00 208.33 550.00 600.00 9,700.00 Account Cash Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies Accounts Receivable Notes Payable Interest Payable Accounts Payable Wages Payable Common Stock Dividends Bakery Sales Merchandise Sales 3 Baking Supplies Expense 4 Rent Expense 5 Interest Expense 6 Insurance Expense 7 Depreciation Expense 8 Misc Expense 10,000.00 150.00 7,000.00 480.00 30,000.00 10,000.00 60,000.00 221.00 10,000.00 60,000.00 221.00 19,400.00 4,500.00 150.00 200.00 208.33 19,400.00 4,500.00 150.00 200.00 208.33 250.00 T-Accounts - autofill Inventory Valuation Trial Balance in citi B D E 208.33 550.00 208.33 600.00 9,700.00 50.00 9,700.00 10,000.00 150.00 7,000.00 480.00 30,000.00 10,000.00 150.00 7,000.00 480.00 30,000.00 10,000.00 10,000.00 60,000.00 221.00 60,000.00 221.00 19,400.00 12 Accumulated Depreciation 13 Office Supplies 14 Accounts Receivable 15 Notes Payable 16 Interest Payable 17 Accounts Payable 18 Wages Payable 19 Common Stock 20 Dividends 21 Bakery Sales 22 Merchandise Sales 23 Baking Supplies Expense 24 Rent Expense 25 Interest Expense 26 Insurance Expense 27 Depreciation Expense 28 Misc. Expense 29 Office Supplies Expense 30 Business License Expense 31 Advertising Expense 32 Wages Expense 33 Telephone Expense 34 COGS 35 36 Total: 37 4,500.00 150.00 200.00 208.33 250.00 550.00 375.00 200.00 1,956.00 150.00 157.60 19,400.00 4,500.00 150.00 200.00 208.33 250.00 550.00 375.00 200.00 1956.00 150.00 157.60 108,059.33 107,701.00 107,701.00 20,508.33 20,508.33 108,059.33 Here are some key numbers for Final Project's financial statements: Gross profit $60.063.4 Net income $32.124.07 Ending Retained Earnings balance $22.124.07 Total current assets $64.962.4 Total current liabilities $7.630 Total assets $69.754 07

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_2

Step: 3

blur-text-image_3

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

Internal Auditing Assurance And Consulting Services

Authors: Kurt F. Reding, Paul J. Sobel, Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Mark Salamasick, Contributing Writer, Cris Ridd, Richard Tuschman

1st Edition

0894136100, 978-0894136108

More Books

Students also viewed these Accounting questions

Question

2 What can organisations do to improve employee utilisation?

Answered: 1 week ago