Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Paste Insert Draw Design Layout q , A Font Paragraph Ab Y Comments Editing Share Adjusting Entries and Financial Statements Use the following information to

Paste
Insert
Draw
Design
Layout
q,
A
Font
Paragraph
Ab
Y
Comments
Editing
Share
Adjusting Entries and Financial Statements
Use the following information to prepare the following:
Journal entries based on the Additional Information below
The Adjusted trial balance for Rosie's Legal Services
The Income Statement, Statement of Retained Earnings and Balance Sheet as of and for the year ended December 31,2023.
\table[[\table[[Rosie's Legal Services],[Trial Balance],[December 31,2023]]],[Cash,Debit,Credit],[Office Supplies,515,000,],[Prepaid rent,8,000,],[Wages payable,2,000,],[Unearned revenue,,],[Common stock,,8,000],[Dividends,,10,000],[Retained earnings,1,000,],[Revenue earned,,],[Rent Expense,,],[Wages expense,5,000,],[Supplies expense,2,000,],[Totals,$33,000,0]]
Additional information:
a. The Prepaid Rent account represents rent for the month of December 2023.
b. As of the end of December 2015, $3,000 of the Office Supplies remained
c. Rosie's Legal Services has two employees who are paid $1,500 each per week total for the two employees per week). They have not been paid yet for the last week of December 2023.
d. As of the end of December 2023, $6,000 of the Unearned Revenue had been earned
Page 2 of 2
413 words
Focus
image text in transcribed

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

Introduction to Managerial Accounting

Authors: Peter Brewer, Ray Garrison, Eric Noreen

7th edition

978-1259675539, 125967553X, 978-1259594168, 1259594165, 78025796, 978-0078025792

More Books

Students also viewed these Accounting questions