Page 1 1 > of 5 ZOOM + Update Apple ID Settings Some account services will not be available until you sign in again. View Financial Accounting Midterm 1 Name Given the following Trial Balance at 12/31/2013 Credit Debit 35,000 25,000 10,000 20,000 40,000 75,000 Trial Balance 12/31/2013 Account Cash Accounts Receivable Supplies Land Equipment Building Accumulated Depreciation Accounts Payable Interest Payable Notes Payable Retained Eamings (Beginning) Common Stock Dividends Service Revenue Salary Expense Rent Expense Property Tax Expense Utilities Expense Interest Expense Tolals 10,000 40,000 2.000 50.000 10.000 30,000 12,0DD 140.000 42.000 10,00D 1,000 9,000 3,000 262.000 282.000 1 Create an Income Stalement for 2013 in the Space Below: Title Page 1 > of 5 ZOOM + Update Apple ID Settings Some account services will not be available until you sign in again. View 2 Create a statement of retained oarnings for 2013 3 Create a Balance Shoot in the space below: ZOOM + Update Apple ID Settings Some account services will not be available until you sign in again. View 40,000 282,000 282,000 Trial Balance @ 12/31/2013 Account Debit Credit 35,000 Accounts Receivable 25.000 Supplies 10,000 Land 20,0DD Equipment 40,000 Building 75,000 Accumulated Depreciation 10,000 Accounts Payable Interest Payable 2,000 Notes Payable 50,000 Retained Earnings (Beginning) 10,000 Common Stock 30,000 Dividends 12,000 Service Revenue 140,000 Salary Expense 42,000 Rent Expenso 10,000 Property Tax Expense 1,00D Utilities Expense 9,000 Interest Expense 3,000 Totals 1 Create an Income Statement for 2013 in the Space Below Title 2 Create a statement of retained earnings for 2013 3 Create a Balance Sheet in the space below: Deri ne 4 AAA Tax Service opens their business on April 1 and have the following tra Chart in the month.: Cash a 4/1 The company founder invests $50,000 and becomes the company's only|Accour b 4/2 The company buys 4 computers for total cost $8,100, paying 2.100 cast Prepak 4/6 The Company pays cash for a 12 month Insurance policy 6,000. Effectiv invente d 4/7 The company buys supplies that will be used for several months. This co Supplie 4/8 The company's first customer pays cash of $4000 for tax service Compu f 4/15 The company pays payroll expense of $2,000 Accum 9 g 4/17 More tax service is performed for customers on account for $7,500 Accour h 4/25 The company collects 3,000 from customers for service just completed unearr i 4/30 The company pays the amount owed for the 4 computers bought on 4:2 Comm j 4/30 The company pays $2,000 for the first months rent expense Retain 4/30 The company receives $7,000 cash for tax work for a customer. Work Divider 1 4/30 The company pays a dividend of $1,000 for the month Service Adjustments Rent E 4/30 Create the depreciation entry for the month for the computers. $225 pc Payroll n 4/30 Make the adjustment entry for one month of insurance for the insurance Insurar 0 4/30 They rush and complete half the job for the customer in k above. Creat Deprec half of the revenue Supplie p 4/30 A count of the supplies shows a total of $4,000 remaining in supplies. Describe each of the above with a Journal entry Include the date Date Account Debit Credit 5 Prepare T-accounts for the accounts above and post all transactions for April - CASH 6 Create the Trial Balance in the space below 7 What is the Net Income for the Month m Page 1 1 > of 5 ZOOM + Update Apple ID Settings Some account services will not be available until you sign in again. View Financial Accounting Midterm 1 Name Given the following Trial Balance at 12/31/2013 Credit Debit 35,000 25,000 10,000 20,000 40,000 75,000 Trial Balance 12/31/2013 Account Cash Accounts Receivable Supplies Land Equipment Building Accumulated Depreciation Accounts Payable Interest Payable Notes Payable Retained Eamings (Beginning) Common Stock Dividends Service Revenue Salary Expense Rent Expense Property Tax Expense Utilities Expense Interest Expense Tolals 10,000 40,000 2.000 50.000 10.000 30,000 12,0DD 140.000 42.000 10,00D 1,000 9,000 3,000 262.000 282.000 1 Create an Income Stalement for 2013 in the Space Below: Title Page 1 > of 5 ZOOM + Update Apple ID Settings Some account services will not be available until you sign in again. View 2 Create a statement of retained oarnings for 2013 3 Create a Balance Shoot in the space below: ZOOM + Update Apple ID Settings Some account services will not be available until you sign in again. View 40,000 282,000 282,000 Trial Balance @ 12/31/2013 Account Debit Credit 35,000 Accounts Receivable 25.000 Supplies 10,000 Land 20,0DD Equipment 40,000 Building 75,000 Accumulated Depreciation 10,000 Accounts Payable Interest Payable 2,000 Notes Payable 50,000 Retained Earnings (Beginning) 10,000 Common Stock 30,000 Dividends 12,000 Service Revenue 140,000 Salary Expense 42,000 Rent Expenso 10,000 Property Tax Expense 1,00D Utilities Expense 9,000 Interest Expense 3,000 Totals 1 Create an Income Statement for 2013 in the Space Below Title 2 Create a statement of retained earnings for 2013 3 Create a Balance Sheet in the space below: Deri ne 4 AAA Tax Service opens their business on April 1 and have the following tra Chart in the month.: Cash a 4/1 The company founder invests $50,000 and becomes the company's only|Accour b 4/2 The company buys 4 computers for total cost $8,100, paying 2.100 cast Prepak 4/6 The Company pays cash for a 12 month Insurance policy 6,000. Effectiv invente d 4/7 The company buys supplies that will be used for several months. This co Supplie 4/8 The company's first customer pays cash of $4000 for tax service Compu f 4/15 The company pays payroll expense of $2,000 Accum 9 g 4/17 More tax service is performed for customers on account for $7,500 Accour h 4/25 The company collects 3,000 from customers for service just completed unearr i 4/30 The company pays the amount owed for the 4 computers bought on 4:2 Comm j 4/30 The company pays $2,000 for the first months rent expense Retain 4/30 The company receives $7,000 cash for tax work for a customer. Work Divider 1 4/30 The company pays a dividend of $1,000 for the month Service Adjustments Rent E 4/30 Create the depreciation entry for the month for the computers. $225 pc Payroll n 4/30 Make the adjustment entry for one month of insurance for the insurance Insurar 0 4/30 They rush and complete half the job for the customer in k above. Creat Deprec half of the revenue Supplie p 4/30 A count of the supplies shows a total of $4,000 remaining in supplies. Describe each of the above with a Journal entry Include the date Date Account Debit Credit 5 Prepare T-accounts for the accounts above and post all transactions for April - CASH 6 Create the Trial Balance in the space below 7 What is the Net Income for the Month m