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Online assignment M&S advertising agency had the following adjusted account balances on Dec . 3 1 . 2 0 2 1 : Cash 5 0
Online assignment
M&S advertising agency had the following adjusted account balances on Dec:
Cash ; Account receivable ; supplies ; equipment ; Accumulated depreciationequipment ; account payable ; share capital ordinary ; Retained earnings
The following transactions occurred during the first months of the year :
Jan M & S received $ from customers in advance for services to be provided until the end of the year.
Jan M & S purchased $ supplies and paid the amount in cash.
Feb M & S performed $ of advertising services on account.
March M & S purchased $ building and signed a months, note.
Apr M & S paid $ in advance for insurance policy. This insurance policy will cover one year starting from Apr
May M & S paid its employees $ for salaries and wages for the first five months of the year.
You also know the following information regarding M&S advertising agency:
The company prepares its financial statements semiannually.
On June A count of supplies had shown $ of supplies on hand.
On June it was found that $ services that were performed on account during the previous months are not recorded.
On June employees worked for one month that were not recorded nor paid salaries are the same each month
Depreciation on equipment is $ each month, Depreciation on building is $ each month.
Each month the company performs the same amount of its services obligation.
Required:
Prepare the Trial balance on June for M&S advertising agency
Prepare the adjusted trial balance on June. for & advertising agency
Prepare the income statement for the semiannual period ending on June for M&S advertising agency
Prepare the Retained earnings statement for the semiannual period ending on June for M&S advertising agency
Prepare the balance sheet at June for M&S
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