Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pretty sure I've got this but I would love to have something to cross check against. Thanks! Required Prepare a clasified balance sheet for Babylon

image text in transcribed

Pretty sure I've got this but I would love to have something to cross check against. Thanks!

image text in transcribed

Required Prepare a clasified balance sheet for Babylon Lighting of December 31, 20 27300 too The following adjusted trial balance was taken from the worksheet of Babylon Lighting. Prim u s Ton Tongan, hade hon intuits during the year Babylon Lighting Adjusted Trial Balance December 31, 20.. Debit Acces Receivable Merchandise Store Supplies Ofte Supplies Prepaid Insurance Store Equipment Aerulind Depreciation Store Equipment 5.000 Office Equipment 15.000 Accumulated Depreciation Office Equipment Accounts Payable Salaries Payable Mortgage Payable (Current portion $1,200 Jillian Johnson, Capital 1044BD Jillian Johnson, Drawing 8600 Income Summary 46000 Sales 106.600 Sales Discounts 1.600 61,800 3.000 Purchases Returns and Allowances Purchases Discounts 2.400 Sales Swary Expense 13.600 Office Salary Expense 7.800 Advertising Expense Score Supplies Expense 60) Office Supplies Expense Insurance Expense 1.000 Depreciation Expense Store Equipment 500 Depreciation Expense-Office Equipment 325920 Purchases Adjusted Trial Balance December 31, 20-- Debit Credit 29,900 55,200 42,600 1,180 400 1,200 37,000 5,000 15,000 3,600 27,300 1,340 29,600 104,480 Account Title Cash Accounts Receivable Merchandise Inventory Store Supplies Office Supplies Prepaid Insurance Store Equipment Accumulated Depreciation Store Equipment Office Equipment Accumulated Depreciation Office Equipment Accounts Payable Salaries Payable Mortgage Payable (Current portion: $1,200) Jillian Johnson, Capital Jillian Johnson, Drawing Income Summary Sales Sales Discounts Purchases Purchases Returns and Allowances Purchases Discounts Sales Salary Expense Office Salary Expense Advertising Expense Store Supplies Expense Office Supplies Expense Insurance Expense Depreciation Expense-Store Equipment Depreciation Expense-Office Equipment 8,600 46,600 42,600 106,600 1,600 61,800 3,000 2,400 13,600 7,600 800 600 480 260 1,000 500 325,920 325,920 The income statement and w

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

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

Recommended Textbook for

Financial Accounting Reporting Analysis And Decision Making

Authors: Shirley Carlon, Rosina Mcalpine, Chrisann Lee, Lorena Mitrione, Ngaire Kirk, Lily Wong

7th Edition

0730395294, 978-0730395294

More Books

Students also viewed these Accounting questions

Question

Distinguish between a shell company fraud and pass through fraud.

Answered: 1 week ago

Question

finding entry-level positions;

Answered: 1 week ago

Question

Explain the impact of organizational culture on employees.

Answered: 1 week ago