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Please create a balance sheet on the information provided. The Net Income is $4,810 and the Owner's Equity is $14,160, ** The unearned revenue is
Please create a balance sheet on the information provided.
The Net Income is $4,810 and the Owner's Equity is $14,160, ** The unearned revenue is supposed to be 1000
Transaction Information Entry # 1 Supplies are purchased on account for $1,000 2 One year of insurance is purchased for cash, costing $3,600. 3 Paid rent expense of $2,000 for current month. 4 The receivables from the prior month are collected 5 The account payables from the prior month are paid. 6 Paid $750 of wage expenses to employees, of which $50 is accrued from the prior month. 7 Received $1,500 from a customer in advance of providing the services 8 A $450 utility bill for the current month is received. Payment is due next month on the 15th. 9 Services are performed for customers on account. Invoices totaling $5,600 are mailed to the customers. 10 The owner withdrew $750 for personal use. Additional information for adjusting entries (to be used after unadjusted trial balance is prepared) 1 Supplies on hand at the end of the month are $400. 2 Record one month of insurance expense 3 Accrue $100 wages 4 The December 31 balance in Unearned Revenue is $1,000 Speedy Delivery Company Balance Sheet November 30, 2016 Assets Cash $7,000 Accounts Rec 3,000 Supplies 100 Liabilities Accounts Payable $ 290 Wages Payable 50 Owner's Equity Speedy, Capital 9,760 Total Liab. & O.E. $10,100 Total Assets $10,100Step by Step Solution
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