Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Prepare the Three Financial Statements based on the balanced worksheet A Byte of Accounting, Inc. Worksheet For Period Ending June 30, 2019 income Statement Debit

Prepare the Three Financial Statements based on the balanced worksheet

image text in transcribed

image text in transcribedimage text in transcribedimage text in transcribed

A Byte of Accounting, Inc. Worksheet For Period Ending June 30, 2019 income Statement Debit Credit 0.001 Adiusted Trial Balance Debit Credit 6 1,057.00 6,119.00 5.888.00 5,000.00 270.00 2,310.00 7.74 209,520.00 196.00 Account Number Name 1110 Cash 11201 Accounts Receivable 1130 Prepaid Insurance 11401 Prepaid Rent 1150 Office Supplies 1211 Office Equip 1212 Accum. Dep-Office Equip 1311 Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building Cost 14120 Accum. Decr-Building 1510 Land 21011 Accounts Payable 21021 Advanced Payments 2103 Inforest Payable 2105 Salaries Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Hudson Bloom, Capital 3300 Hudson Bloom, Withdrawals Unadjusted Trial Balance Debit Credit 61,057.00 1,119. 00 0 .00 6,144.00 0.001 7,500.00 0.00 655.00 2,310.00 0.00 0.00 0.001 209,520.00 0.00 0.00 0.001 125,000.00 0.001 0.00 0.001 20.000.00 0.00 0.00 1,645.00 0.00 12,500.00 0.001 0.00 0.001 0.00 0.00 1 32,500.00 0.00 106,750.00 0.00 1 70,100.00 1.600. 00 0 .000 Adjusting Entries Debit Credit 0.00 0.00 5,000.00 0.00 0.00 256.00 0.001 2.500.000 0.00 385 Chl 0.00 0.00 0.001 7.74 0.00 0.00 0.00 196.00 0.00 0.00 0.00 312.17 0.00 oool 0.001 0.00 On 0.00 1,473.83 0.00 531.00 0.00 0.001 0.00 0.00 0.00 0.00 0.00 Balance Short Debit Credit 61,057.00 6,119.00 5,888.00 5.000.00 270.00 2,310.00 7.74 | 209.520.00 1 196.00 125,000.00 312.171 20,000.00 1,645.00 12.500.00 1.473.83 531.00 132.500.00 106,750.00 170,100.00 1,600.00 125,000.00 312.17 20.000,00 0.001 1.645.00 12 500.00 1.473.83 531.00 132.500.00 106,750.00 170,100.00 0.00 1,600.00 20,835.00 20.835.00 2.500.00 41001 Computer & Consulting Revenue 5010 Rent Expense 5020 Salary Expense 5030l Advertising Expense 5040 Repairs & Maint. Expense 5050 Oil & Gas Expense 5080 Supplies Expense 5000 Interest Expense 5100 Insurance Expense 5110 Depreciation Expanse 0.001 0.00 1,770.00 425.00 1,240.00 990.00 0 .00 0.00 0.001 0.001 1 5.825.00 0.00 0.00 0.00 0.00 0.001 0.001 2.500.000 531,000 0.001 0.001 0.00 385.00 1.473.83 256.00 515.91 5,000.00 0.001 0.001 0.00 0.00 0.00 0.00 0.00 0.00 2.500.00 2,301.00 425.00 1.240,00 990.00 385.00 1,473.83 256.00 515.91 2,301.00 425 m 1.240.00 990.00 385.00 1.473.83 256.00 515,911 1 0.00 LITTIIN 888888888 0.001 0.001 0.001 0001 429.330,00 439.330,001 10,661.74 10,661.74 446,850.74 446,850.74 2 0,836.00 436,784.00 Total INET INCOME Balance 10,096.74 10,748 261 20,835.00 426,015.74 10.748.26 436,764.00 2 0,836.00 436,764.00 A Byte of Accounting Income Statement For Month Ending June 30, 2019 Revenues Computer Revenue Expenses Rent Expense Salary Expense Advertising Expense Repairs & Maint. Expense Oil & Gas Expense Supplies Expense Interest Expense Insurance Expense Depreciation Expense Total Net Income A Byte of Accounting Statement of Owner's Equity For Month Ending June 30, 2019 Total Balance, Beginning of Period Investment Net Income Withdrawals Balance, End of Period A Byte of Accounting Balance Sheet As of June 30, 2019 Assets Current Assets Cash Accounts Receivable Prepaid Insurance Prepaid Rent Office Supplies Total Long-Term Assets Office Equip. Accum. Depr.-Office Equip. Computer Equip. Accum. Depr.-Computer Equip. Building Cost Accum. Depr.- Building Land Total Total Assets Liabilities Current Liabilities Accounts Payable Advanced Payment Interest Payable Salaries Payable Total Long-Term Liabilities Mortgage Payable Notes Payable Total Total Liabilities Owner's Equity Hudson Bloom, Capital Total Liabilities and Owner's Equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

What is the relation between group theory and Computer graphics

Answered: 1 week ago