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Please prepare a Balance Sheet, Income Statement, Share holders equity, and Statement of cash flows based on the following trial balance sheet: Trial Balance November
Please prepare a Balance Sheet, Income Statement, Share holders equity, and Statement of cash flows based on the following trial balance sheet:
Trial Balance | ||||||
November 30th, 2022 | ||||||
Account Title | Debit | Credit | ||||
Cash | 43,061 | |||||
Petty Cash | 265 | |||||
Accounts Receivable | 20600 | |||||
Supplies on Hand | 650 | |||||
Prepaid Insurance | 79 | |||||
Computer Equipment | 3450 | |||||
Accumulated Depreciation-Computer Equipment | 139.58 | |||||
Cell Phone | 849 | |||||
Accumulated Depreciation-Cell Phone | 33.29 | |||||
Office Building | 200,000 | |||||
Accumulated Depreciation- Office Building | 1,388.88 | |||||
Accounts Payable | 1,080 | |||||
Customer Deposits (Unearned Revenue) | 0 | |||||
SUTA Payable | 60 | |||||
FICA Payable | 459.52 | |||||
FUTA Payable | 30 | |||||
Federal Income Tax Payable | 450 | |||||
State Income Tax Payable | 150 | |||||
Current Maturities of Long-Term Debt | 2,032 | |||||
Notes Payable (Long-Term) | 177609 | |||||
Interest Payable | 778.44 | |||||
Salaries Payable | 1085 | |||||
Common Stock ($2 par value) | 10,000 | |||||
Additional Paid-in Capital on Common Stock | 40,000 | |||||
Retained Earnings | 0 | |||||
Dividends | 500 | |||||
Engagement Fees | 8,000 | |||||
Monthly Accounting Services Revenue | 12,900 | |||||
Hourly Accounting Services Revenue | 23,700 | |||||
Tax Services Revenue | 2500 | |||||
Sales Discounts | 41 | |||||
Advertising & Promotion Expense | 600 | |||||
Depreciation Expense | 1561.78 | |||||
Rent Expense | 500 | |||||
Insurance Expense | 417 | |||||
Supplies Expense | 300 | |||||
Meals & Entertainment | 60 | |||||
Taxes and Licenses | 295 | |||||
Telephone Expense | 100 | |||||
Utilities Expense | 580 | |||||
Fuel Expense | 100 | |||||
Interest Expense | 2,626 | |||||
Payroll Tax Expense | 400 | |||||
Salaries Expense | 3,750 | |||||
Service Charge Expense | 80 | |||||
Charitable Contributions Expense | 300 | |||||
Furniture & Equipment Expense | 500 | |||||
Janitorial Expense | 300 | |||||
Pest Control Expense | 35 | |||||
Postage & Delivery Expense | 0 | |||||
Professional Fees Expense | 175 | |||||
Repairs & Maintenance Expense | 220 | |||||
282,395.71 | 282395.71 | |||||
282,395.71 | 282,395.71 |
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