Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

prepare a properly classified balance sheet as of february 28, 2022 LARKSPUR CLEANING SERVICES INC. Income Statement For the Month Ending February 28, 2022 14812

prepare a properly classified balance sheet as of february 28, 2022
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
LARKSPUR CLEANING SERVICES INC. Income Statement For the Month Ending February 28, 2022 14812 Service Revenue Operating Expenses $ 270 i Utilities Expense 7080 1 Salaries and Wages Expense 1000 1 Insurance Experts 309.79 Depreciation Expense 580.80 Bad Debt Expense 710 i Supplies Expense 9750.59 1 Total Operating Expenses 506141 income from Operations 48.80 Interest Expense 300 Loss on Disposal of Plant Assets 348.80 471261 Income Before Income Taxes 942.52 Income Tax Expense s 377009 Net Income Los) 1 e Textbook and Media List of Accounts Attempts 2 of 2 used Your answer is correct. Prepare a retained earnings statement as of February 28, 2022. (List items that increase retained ear LARKSPUR CLEANING SERVICES INC. Retained Earnings Statement For the Month Ending February 28, 2022 Retained Earnings, 2/1/22 $ Add V Net Income /(Loss) 3770.09 V 1719 Less : Dividends Retained Earnings, 2/28/22 $ 2051.09 eTextbook and Media List of Accounts repare a properly classified balance sheet as of February 28, 2022. (List Current Assets in order of liquidity) LARKSPUR CLEANING SERVICES INC. Balance Sheet Assets Liabilities and Stockholders' Equity $ uestion 1 of 1 3.6275 Liabilities and Stockholders' Equity A c Textbook and Media List of Accounts estion 1 of 1 3.62/5 Prepare an adjusted trial balance. LARKSPUR CLEANING SERVICES INC. Trial Balance 2/28/22 Debit Credit Cash $ 11679 Accounts Receivable 11360 490 Supplies 2000 Prepaid Insurance 270 Prepaid Expenses 340.80 Allowance for Doubtful Accounts 5880 Equipment 109.79 Accumulated Depreciation Equipment 330 Accounts Payable 7780 Notes Payable 2360 Salaries and Whoes Payable 4 interest Payable 42.52 Income Tone Pavle 456 Unced Service Revenge 9350 Common Stod 30 Pad-incocess of Par Vale-Common Stock 311 contidents 1tb Tito Luestion 1 of 1 > 3.62 Interest Payable 48.80 Income Taxes Payable 94252 Unearned Service Revenue 486 Common Stock 9150 Pald-in Capital in Excess of Par Value-Common Stock 6710 Cash Dividends 1719 Treasury Stock 1110 Service Revenue 14812 Utilities Expense 270 Salaries and Wages Expense 7080 Insurance Expense 1000 Depreciation Expense 109.79 Bad Debt Expense 580.80 Supplies Expense 710 Interest Expense 48.80 Loss on Disposal of Plant Assets 300 Income Tax Expen 94252 Total 4554991 45549.91

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_2

Step: 3

blur-text-image_3

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

Hong Kong Auditing Economic Theory And Practice

Authors: Ferdinand A Gul

2nd Edition

9629371413, 978-9629371418

More Books

Students also viewed these Accounting questions