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please help me with the ones I got wrong. I sent more pictures so it is easier for you. thank you The adjusted trial balance
please help me with the ones I got wrong. I sent more pictures so it is easier for you. thank you
The adjusted trial balance columns of the worksheet for Blossom Company, owned by C. Blossom, are as follows. Blossom Company Worksheet For the Year Ended December 31, 2020 Adjusted Trial Balance Account No. Account Titles Dr. 101 Cash 5,000 112 Accounts Receivable 10,700 126 Supplies 1,300 Prepaid Insurance 2.200 Equipment 27,000 Accumulated Depreciation-Equipment 5.900 Notes Payable 13.700 Accounts Payable 6,100 Selaries and Wages Payable 2.500 Interest Pevable Owner's Capital Owner's Drawings 7.300 Service Revenue 610 Advertising Expense 8,300 Supplies Expense 3.000 Depreciation Expense 5.900 157 Equipment 27,000 158 Accumulated Depreciation Equipment 5.900 200 Notes Payable 13,700 201 Accounts Payable 6.100 Salaries and Wages Payable 2,500 Interest Payable 700 Owner's Capital 12,700 308 Owner's Drawings 7.300 Service Revenue 61,700 Advertising Expense 8,300 Supplies Expense 3,800 Deprecation Expense 5.900 Insurance Expense 3.500 Seleries and Weges Expense 27,600 Interest Expense 103,300 103,300 BLOSSOM COMPANY Partial Worksheet For the Year Ended December 31, 2020 Adjusted Trial Balance Income Statemen Amount Account Titles Cr. DP. 5.000 Accounts Receivable 10,700 Supplies 1,300 Prepaid Insurance 2,200 Equipment 27,000 158 Accumulated Depreciation - Equipment 5.900 Notes Payable 13,700 6.100 Accounts Payable Setaries and Wages Payable 700 inters Payable TA BLOSSOM COMPANY Partial Worksheet For the Year Ended December 31, 2020 Adjusted Trial Balance Income Statement Dr. Cr. Dr. Cr. Dr 5,000 10.700 1,300 2,200 27.000 ipment 13.700 2.500 12,700 27.000 oment 5.900 13,700 6,100 2,500 700 12,700 7.300 61,700 1 61700 $300 3500 1700 103.300 1800 103,300 BLOSSOM COMPANY Partial Worksheet ear Ended December 31, 2020 Income Statement Balance Sheet r. Cr. Cr. S000 10700 1300 2200 27000 5900 13700 5100 700 6100 2500 700 I 1200 7300 61700 8300 5900 00 41600 Se 6995 3300 BLOSSOM COMPANY Income Statement For the Year Ended December 31, 2020 Revenues Service Revenue 61700 Expenses Advertising Expense $ 8300 Supplles Expense 3800 5900 i Depreciation Expense 3500 1 Insurance Expense 27600 I Solarles and wages Expense 700 merest Expense 49300 Exeges s Your answer is partially correct Prepare an owner's equity statement C Blossom did not make any additional investments in the business during 202 that increase owner's equity first.) BLOSSOM COMPANY Owner's Equity Statement For the Year Ended December 31, 2020 Net Income / (Loss) 12700 Owner's Capital. December 31 V LAT BLOSSOM COMPANY Balance Sheet December 31, 2020 Assets Current Assets dash S 5000 Accounts Recelvable 10700 Supplies 1300 Prepald Insurance 2200 $ Property. Plent and Equipment Equipment 27000 Becumulated Depreciation Equipment Liabilities and Owner's Equity Current abilities Note: Payable BLOSSOM COMPANY Balance Sheet December 31, 2020 Assets $ 5000 able 10700 Equipment med Depreciation Equipment 5900 $ 40300 Llabilities and Owner's Equity Total Assets Liabilities and Owner's Equity Current Liabilitleg Notes Payable $ Accounts Payable Salarles and Wages Payable Interest Expense $ Long-term Llabilitles Total Long-term Liabilitles Date Account Titles and Explanation Debit Credit Dec 31 Service Revenge 61700 Income Summary 61700 (To dose revenue account) Dec 31 Income Summary Advertising Experte 8300 MORE Supplies Expense 3800 Deprecatlon Expense 5900 Insurance Expense 3500 Salaries and Wages Expense 27500 Interest Expense (To close expense accounts) Dec. 31 Income Summary Owner's Capital TO (To close net income (loss)) Dec 31 bers Capital bune sau ines (To close drawings Owner's Capital No. 301 Date Explanation Ref. Debit Credit Balance Jan. 31 Balance 12700 Dec 31 Closing entry J14 Dec. 31 Closing entry J14 Owner's Drawings No. 306 Date Explanation Ref. Debit Credit Balance Dec 31 Balance 5 Dec 31 Closing entry314 Income Summary No. 350 Date Explanation Ref. Debit Credit Balance Dec 3: Closing entry Dec 30 Closing entry314 Der Closing ents Service Revenue No. 400 Explanation Ref. Debit Credit Balance Service Revenue No. 400 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance 61700 Dec. 31 Closing entry J14 Advertising Expense No. 610 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance V 8300 Dec 31 Closing entry J14 Supplies Expense No. 631 Date Explanation Ref. Debit Credit Balance Dec 31 Bence Dec 3 Ciesing entry 14 Depreciation Expense No. 711 Explanation Ref. Debit Credit Balance Insurance Expense Ne. 722 Explanation Ref. Debit Credit Balance Dec 31 Closing entry Dec 31 Closing entry J14 Insurance Expense No. 722 Date Explanation Ref. Debit Credit Balance Dec 31 Balance 3500 Dec 31 Closing entry J14 Salaries and Wages Expense No. 726 Date Explanation Ref. Debit Credit Balance 27600 Dec desing entry 114 Interest Expense Explanation Ref. Debit Credit Balance De Closing entry 124 BLOSSOM COMPANY Post-Closing Trial Balance December 31, 2020 Debit Credit Cash 5000 Accounts Recelvable 10700 Supplles 1300 HADOMA Prepald Insurance cumuz Depreciation Equipment 5900 6100 S 1000 The adjusted trial balance columns of the worksheet for Blossom Company, owned by C. Blossom, are as follows. Blossom Company Worksheet For the Year Ended December 31, 2020 Adjusted Trial Balance Account No. Account Titles Dr. 101 Cash 5,000 112 Accounts Receivable 10,700 126 Supplies 1,300 Prepaid Insurance 2.200 Equipment 27,000 Accumulated Depreciation-Equipment 5.900 Notes Payable 13.700 Accounts Payable 6,100 Selaries and Wages Payable 2.500 Interest Pevable Owner's Capital Owner's Drawings 7.300 Service Revenue 610 Advertising Expense 8,300 Supplies Expense 3.000 Depreciation Expense 5.900 157 Equipment 27,000 158 Accumulated Depreciation Equipment 5.900 200 Notes Payable 13,700 201 Accounts Payable 6.100 Salaries and Wages Payable 2,500 Interest Payable 700 Owner's Capital 12,700 308 Owner's Drawings 7.300 Service Revenue 61,700 Advertising Expense 8,300 Supplies Expense 3,800 Deprecation Expense 5.900 Insurance Expense 3.500 Seleries and Weges Expense 27,600 Interest Expense 103,300 103,300 BLOSSOM COMPANY Partial Worksheet For the Year Ended December 31, 2020 Adjusted Trial Balance Income Statemen Amount Account Titles Cr. DP. 5.000 Accounts Receivable 10,700 Supplies 1,300 Prepaid Insurance 2,200 Equipment 27,000 158 Accumulated Depreciation - Equipment 5.900 Notes Payable 13,700 6.100 Accounts Payable Setaries and Wages Payable 700 inters Payable TA BLOSSOM COMPANY Partial Worksheet For the Year Ended December 31, 2020 Adjusted Trial Balance Income Statement Dr. Cr. Dr. Cr. Dr 5,000 10.700 1,300 2,200 27.000 ipment 13.700 2.500 12,700 27.000 oment 5.900 13,700 6,100 2,500 700 12,700 7.300 61,700 1 61700 $300 3500 1700 103.300 1800 103,300 BLOSSOM COMPANY Partial Worksheet ear Ended December 31, 2020 Income Statement Balance Sheet r. Cr. Cr. S000 10700 1300 2200 27000 5900 13700 5100 700 6100 2500 700 I 1200 7300 61700 8300 5900 00 41600 Se 6995 3300 BLOSSOM COMPANY Income Statement For the Year Ended December 31, 2020 Revenues Service Revenue 61700 Expenses Advertising Expense $ 8300 Supplles Expense 3800 5900 i Depreciation Expense 3500 1 Insurance Expense 27600 I Solarles and wages Expense 700 merest Expense 49300 Exeges s Your answer is partially correct Prepare an owner's equity statement C Blossom did not make any additional investments in the business during 202 that increase owner's equity first.) BLOSSOM COMPANY Owner's Equity Statement For the Year Ended December 31, 2020 Net Income / (Loss) 12700 Owner's Capital. December 31 V LAT BLOSSOM COMPANY Balance Sheet December 31, 2020 Assets Current Assets dash S 5000 Accounts Recelvable 10700 Supplies 1300 Prepald Insurance 2200 $ Property. Plent and Equipment Equipment 27000 Becumulated Depreciation Equipment Liabilities and Owner's Equity Current abilities Note: Payable BLOSSOM COMPANY Balance Sheet December 31, 2020 Assets $ 5000 able 10700 Equipment med Depreciation Equipment 5900 $ 40300 Llabilities and Owner's Equity Total Assets Liabilities and Owner's Equity Current Liabilitleg Notes Payable $ Accounts Payable Salarles and Wages Payable Interest Expense $ Long-term Llabilitles Total Long-term Liabilitles Date Account Titles and Explanation Debit Credit Dec 31 Service Revenge 61700 Income Summary 61700 (To dose revenue account) Dec 31 Income Summary Advertising Experte 8300 MORE Supplies Expense 3800 Deprecatlon Expense 5900 Insurance Expense 3500 Salaries and Wages Expense 27500 Interest Expense (To close expense accounts) Dec. 31 Income Summary Owner's Capital TO (To close net income (loss)) Dec 31 bers Capital bune sau ines (To close drawings Owner's Capital No. 301 Date Explanation Ref. Debit Credit Balance Jan. 31 Balance 12700 Dec 31 Closing entry J14 Dec. 31 Closing entry J14 Owner's Drawings No. 306 Date Explanation Ref. Debit Credit Balance Dec 31 Balance 5 Dec 31 Closing entry314 Income Summary No. 350 Date Explanation Ref. Debit Credit Balance Dec 3: Closing entry Dec 30 Closing entry314 Der Closing ents Service Revenue No. 400 Explanation Ref. Debit Credit Balance Service Revenue No. 400 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance 61700 Dec. 31 Closing entry J14 Advertising Expense No. 610 Date Explanation Ref. Debit Credit Balance Dec. 31 Balance V 8300 Dec 31 Closing entry J14 Supplies Expense No. 631 Date Explanation Ref. Debit Credit Balance Dec 31 Bence Dec 3 Ciesing entry 14 Depreciation Expense No. 711 Explanation Ref. Debit Credit Balance Insurance Expense Ne. 722 Explanation Ref. Debit Credit Balance Dec 31 Closing entry Dec 31 Closing entry J14 Insurance Expense No. 722 Date Explanation Ref. Debit Credit Balance Dec 31 Balance 3500 Dec 31 Closing entry J14 Salaries and Wages Expense No. 726 Date Explanation Ref. Debit Credit Balance 27600 Dec desing entry 114 Interest Expense Explanation Ref. Debit Credit Balance De Closing entry 124 BLOSSOM COMPANY Post-Closing Trial Balance December 31, 2020 Debit Credit Cash 5000 Accounts Recelvable 10700 Supplles 1300 HADOMA Prepald Insurance cumuz Depreciation Equipment 5900 6100 S 1000Step by Step Solution
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