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Please show some workings and show the answers in the proper format as seen in the pictures. I will like and comment for good work.
Please show some workings and show the answers in the proper format as seen in the pictures. I will like and comment for good work. Thank you.
Sutton Pond Apartments Inc. Adjusted Trial Balance April 30, 2020 Trial Balance Adjusted Trial Balance Account Title Debit Credit Debit Credit Cash $ 8,200 $ 8,200 Accounts receivable 6,400 7,100 Interest receivable 600 Note receivable 3,900 3,900 Supplies 950 700 Prepaid insurance 2,600 1,000 66,300 66,300 $ 16,100 $ 18,300 6,500 6,500 Building Accumulated depreciation Accounts payable Wages payable Unearned rental revenue Share capital Retained earnings 100 1,200 900 18,200 18,200 42,300 42,300 Dividends 3,480 3,480 Rental revenue 9,800 10,800 Interest revenue 600 Wages expense 1,700 1,800 Insurance expense 1,600 Depreciation expense 2,200 Property tax expense 330 330 Trial Balance Adjusted Trial Balance Account Title Debit Credit Debit Credit Cash $ 8,200 $ 8,200 Accounts receivable 6,400 7,100 Interest receivable 600 Note receivable 3,900 3,900 950 700 2,600 1,000 Supplies Prepaid insurance Building Accumulated depreciation Accounts payable 66,300 66,300 $ 16,100 $ 18,300 6,500 6,500 100 1,200 900 Wages payable Unearned rental revenue Share capital Retained earnings 18,200 18,200 42,300 42,300 Dividends 3,480 3,480 Rental revenue 9,800 10,800 Interest revenue 600 Wages expense 1,700 1,800 Insurance expense 1,600 Depreciation expense 2,200 Property tax exp 330 330 Supplies expense 250 240 240 Utilities expense $ 94,100 $ 94, 100||$ 97,700$ 97,700 Total Sutton Pond Apartments Inc.'s unadjusted and adjusted trial balance at April 30, 2020, follow: (Click the icon to view the unadjusted and adjusted trial balances.) Requirements 1. Make the adjusting entries that account for the differences between the two trial balances. 2. Compute Sutton Pond Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation. Requirement 1. Make the adjusting entries that account for the differences between the two trial balances. The first difference occurs in the Accounts Receivable account. Record the adjustment to Accounts Receivable and the related account. (Record debits first, then credits. Enter explanations on the last line.) Date Accounts Debit Credit April 30 The second difference occurs in the Interest Receivable account. Record the adjustment to Interest Receivable and the related account. Date Accounts Debit Credit April 30 The third difference occurs in the Supplies account. Record the adjustment to Supplies and the related account. Date Accounts Debit Credit April 30 The fourth difference occurs in the Prepaid Insurance account. Record the adjustment to Prepaid Insurance and the related account. The fourth difference occurs in the Prepaid Insurance account. Record the adjustment to Prepaid Insurance and the related account. Date Accounts Debit Credit April 30 The fifth difference occurs in the Accumulated Depreciation account. Record the adjustment to Accumulated Depreciation and the related account. Date Accounts Credit Debit April 30 The sixth difference occurs in the Wages Payable account. Record the adjustment to Wages Payable and the related account. Date Accounts Debit Credit April 30 The seventh difference occurs in the Unearned Rental Revenue account. Record the adjustment to Unearned Rental Revenue and the related account. The sixth difference occurs in the Wages Payable account. Record the adjustment to Wages Payable and the related account. Date Accounts Debit Credit April 30 The seventh difference occurs in the Unearned Rental Revenue account. Record the adjustment to Unearned Rental Revenue and the related account. Date Accounts Debit Credit April 30 Requirement 2. Compute Sutton Pond Apartments Inc.'s total assets, total liabilities, total equity, and net income. Prove your answer with the accounting equation. Use the adjusted trial balance provided to compute Sutton Pond's total assets, total liabilities, total equity, and net income. Total Assets.. Total Liabilities Total Shareholders' Equity. Net Income... To prove your answer, use the accounting equation of Assets = Liabilities + Shareholders' Equity. Complete the equation to prove your answer. Total Assets Total Liabilities + Total Shareholder's Equity +Step by Step Solution
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