Answered step by step
Verified Expert Solution
Question
1 Approved Answer
P4-3C. As the bookkeeper of Maritime Internet Access Service of Amherst, use the information that follows to prepare: 1. A worksheet for August, the end
P4-3C. As the bookkeeper of Maritime Internet Access Service of Amherst, use the information that follows to prepare: 1. A worksheet for August, the end of the first quarter in the current fiscal year 2. An income statement for August, a statement of owner's equity for August, and a balance sheet as of August 31, 2021. Note: this statement represents three months of activity. Adjustment Data a. Two-thirds of the prepaid insurance remains prepaid at month-end. b. Computer supplies on hand, $268. c. Depreciation on computer equipment is based on the straight-line method, a four-year life, and residual value of $1,400. d. Wages earned but unpaid amounted to 64 hours at $15 per hour at month-end. e. Advertising bill received, not yet paid, $245. P4-3C. As the bookkeeper of Maritime Internet Access Service of Amherst, use the Compr information that follows to prepare: 06 1. A worksheet for August, the end of the first quarter in the current fiscal year 2. An income statement for August, a statement of owner's equity for August, and a balance sheet as of August 31, 2021. Note: this statement represents three months of activity. Adjustment Data a. Two-thirds of the prepaid insurance remains prepaid at month-end. b. Computer supplies on hand, $268. c. Depreciation on computer equipment is based on the straight-line method, a four-year life, and residual value of $1,400. d. Wages earned but unpaid amounted to 64 hours at $15 per hour at month-end. e. Advertising bill received, not yet paid, $245. MARITIME INTERNET ACCESS SERVICE TRIALBALANCE AUGUST 31, 2021 Dr. Cr. Check 70 800 10 5000 4 2600 11/48000 Net In Cash Prepaid Insurance Computer Supplies Computer Equipment Accumulated Depreciation, Computer Equipment Accounts Payable Lucy Northwest, Capital Lucy Northwest, Withdrawals Revenue from Services Provided Wages Expense Rent Expense Advertising Expense Totals 4 2 0 0.00 84000 2 88700 14 78 00 143 8500 47 6 0 0 0 1 1 4 8 5 00 9.2 500 22 312 00 22 3 1 200
Step 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