Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Print 3. Data Solution's completed worksheet at November 30, 2018 is as follows: (Click the icon to view the completed worksheet.) Read the requirements?. Requirement
Print 3. Data Solution's completed worksheet at November 30, 2018 is as follows: (Click the icon to view the completed worksheet.) Read the requirements?. Requirement 1. Complete the income statement for the month ended Noverriber 30, 2018. (Use a minus sign or parentheses to show a not loss. If a box is not used in the statement, leave the box emply; do not select a label or enter a zero.) Data Solution Income Statement Month Ended November 30, 2018 (10) Net Income (Loss) Requirement 2. Complete the statement of retained earnings for the month ended November 30, 2018. Assume beginning Retained Earnings was $0. Enter any increases in retained eamings prior to the subtotal and any decreases to retained earnings below the subtotal. Data Solution Statement of Retained Earnings Month Ended November 30, 2018 Retained Earnings, November 1, 2018 |(11) |(12) Retained Earnings, November 30, 2018 Print Requirement 3. Complete the classified balance sheet as of November 30, 2018. Use the report form. Begin by preparing the asset section of the balance sheet and then prepare the liabilities and stockholders' equity sections. (If a box is not used in the balance sheet, leave the box emply do not select a label or enter a zero. Abbreviation used: Acc. Depr. = Accumulated Depreciation.) Data Solution Balance Sheet November 30, 2018 Assets (14) (15) (16) (17) (18) (19) (20) Loss (22) (23) (21) Liabilities (24) (25) (26) (28) Stockholders' Equity (29) (30) (31) (32) 1: Reference Print Data Solution Worksheet November 30, 2018 Income Unadjusted Trial Balance Adjustments Debit Credit Statement Adjusted Trial Balance Debit Credit Balance Sheet Debit Credit Account Names Debit Credit Debit Credit 4,400 $ (a) $ 800 d) S 3,100 1,800 3,100 30,200 700 550 4,400 3,900 1,100 2,550 30,200 4,400 3,900 1,100 2,550 30,200 S $ 1,500 5,100 Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Acc. Depr.-Equipment Accounts Payable Salaries Payable Corririon Stock Dividendis Service revenue Depr. Expense-Equipment Salaries Expense Rent Expense Utilities Expense 1.850 5,100 650 32,900 1,850 5,100 650 32,900 32,900 2,900 2.900 2,900 800 9,600 $ 9,600 8,800 (b) 350 2,100 (a) 350 650 700 2,750 350 2,750 700 700 700 700 550 550 550 Supplies Expense Total 48,300 S 48,300 $ 3,050 $ 3,050 S 50,100 S 50,100 $ 9,600 $ 45,050 $ 5,050 $ 4,550 40,500 4,550 Net Income $ 9,600 $ 9,600 S 45,060 $ 45,060 Print 2: Requirements 1. Complete the income statement for the month ended November 30, 2016. 2. Complete the statement of retained earnings for the month ended November 30, 2018. Assume beginning Retained Earnings was $0. 3. Complete the classified balance sheet as of November 30, 2018. Use the report formi. (1) O O Expenses: O Revenues: Total Assets O Total Expenses Total Liabilities Total Liabilities and Stockholders' Equity Total Stockholders' Equity Utilities Expense (2) O O Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment O Cash Common Stock O Depreciation Expanse-Equipment Dividends O Equipment Salaries Expense Office Supplies O Salaries Payable Prepaid Rent Service Revenue Rent Expense Supplies Expense (3) O Expenses: Revenues: Total Assets Total Expenses Total Liabilities Total Liabilities and Stockholders' Equity Total Stockholders' Equity (4) O Utilities Expense Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment O Cash Common Stock Depreciation Expense-Equipment Dividends O Equipment Office Supplies Prepaid Rent O Rent Expense Salaries Expense O Salaries Payable Service Revenue Supplies Expense Utilities Expense (5) O Accounts Payable O Accounts Receivable Accumulated Depreciation Equipment Cash Common Stock O Depreciation Expense-Equipment Dividends Equipment Office Supplies Prepaid Rent O Rent Expense Salaries Expense Salaries Payable Service Revenue Supplies Expense O Utilities Expense (6) O Accounts Payable O Accounts Receivable O Accumulated Depreciation-Equipment Cash Equipment Common Stock O Office Supplies O Depreciation Expense-Equipment O Prepaid Rent Dividends O Rent Expense Salaries Expanse O Salaries Payable Service Revenue Supplies Expense Utilities Expense Accounts Payable O Accounts Recevable Accumulated Depreciation-Equipment O Cash O Common Stock Depreciation Expense-Equipment Dividends Equipment O Office Supplies Prepaid Rent Rent Expense Salaries Expense O Salaries Payable Service Revenue Supplies Expense Utilities Expense Print (8) O Accounts Payable O Accounts Receivable Accumulated Depreciation-Equipment O Cash O Common Stock O Depreciation Expense-Equipment Dividends O Equipment O Office Supplies Prepaid Rent O Rent Expense O Salaries Expense O Salaries Payable Service Revenue Supplies Expense Utilities Expanse (9) O Accounts Payable Accounts Receivable O Accumulated Depreciation-Equipment O Cash Common Stock Depreciation Expense-Equipment Dividends Equipment Office Supplies Prepaid Rent O Rent Expense O Salaries Expanse O Salaries Payable Service Revenue O Supplies Expense (10) O Expenses: Revenues: Total Assets Total Expenses Total Liabilities Total Liabilities and Stockholders' Equity Total Stockholders' Equity (11) O O Dividends O Expenses for the month Issuance of stock Net income for the month O Net loss for the month Revenues for the month (12) O O Dividends Expenses for the month Issuance of stock Net income for the month Net loss for the month O Revenues for the month Total Property, Plant, and Equipment (13) O O Current Assets: Current Liabilities: O Expenses: O Long-term Liabilities: Tatal Current Assets O Property, Plant, and Equipment: 0 Total Expenses O Revenues: O Total Liabilities Total Assets Total Liabilities and Stockholders Equity (14) O O Accounts Payable O Accounts Receivable Acc. Depr.- Equipment O Supplies Expense Utilities Expense O Cash Common Stock O Depr. Expense-Equipment Dividends Equipment Retained Earnings Office Supplies O Salaries Expense Prepaid Rent Salaries Payable Rent Expense Service Revenue O Supplies Expense Utilities Expense (15) O O Accounts Payable Accounts Receivable Acc. Depr.-Equipment O Cash O Common Stock O Depr. Expense-Equipment Dividends O Equipment Office Supplies Prepaid Rent O Rent Expense Retained Earnings O Salaries Expense Salaries Payable Service Revenue (16) O O Supplies Expense Utilities Expense Accounts Payable Accounts Receivable Acc. Depr.-Equipment O Cash O Equipment O Common Stock O Office Supplies O Depr. Expense-Equipment O Prepaid Rent Dividends O Rent Expense O Retained Earnings O Salaries Expense Salaries Payable Service Revenue Supplies Expense Utilities Expense (17) O Accounts Payable Accounts Receivable O Acc. Depr.- Equipment O Cash Common Stock O Depr. Expense-Equipment Dividends O Equipment O Office Supplies Prepaid Rent O Rent Expense Retained Earnings Salaries Expense Salaries Payable Service Revenue Total Property, Plant, and Equipment Print (18) O O Current Assets: O Current Liabilities: O Expenses: Long-term Llabilities: Total Current Assets Property, Plant, and Equipment: 0 Total Expenses Revenues: Tatal Liabilities Total Assets Total Liabilities and Stockholders Equity Total Property, Plant, and Equipment (19) O Current Assets: O Current Liabilities: O Expenses: Long-term Liabilities: Property, plant, and Equipment: Revenues: Total Assets Total Current Assets Total Expenses Tatal Liabilities Total Liabilities and Stockholders Equity Supplies Expense Utilities Expense (20) O Accounts Payable O Accounts Receivable Acc. Depr.-Equipment Cash Common Stock O Depr. Expense-Equipment Dividends O Equipment Office Supplies Prepaid Rent O Rent Expense Retained Earnings O Salaries Expense Salaries Payable Service Revenue Supplies Expense Utilities Expense (21) O Accounts Payable O Accounts Receivable Acc. Depr.-Equipment O Cash Common Stock O Depr. Expense-Equipment Dividends Equipment O Office Supplies Prepaid Rent Rent Expense Retained Earnings O Salaries Expense O Salaries Payable Service Revenue Total Property, Plant, and Equipment (22) O O Current Assets: O Current Labilities: Expenses: Long-term Liabilities: Tatal Current Assets Property, Plant, and Equipment: 0 Total Expenses Revenues: Total Llabilities Total Assets Total Liabilities and Stockholders Equity O Total Property, Plant, and Equipment (23) O Current Assets: Current Liabilities: O Expenses: Long-term Liabilities: Property, Plant, and Equipment: Revenues: Total Assets Tatal Current Assets Total Expenses Total Liabilities Total Liabilities and Stockholders Equity (24) O O Current Assets: Current Liabilities: O Expenses: O Long-term Liabilities: O Property, plant, and Equipment: Revenues: Total Assets Total Current Assets Total Expenses Total Liabilities Total Liabilities and Stockholders Equity Total Property, Plant, and Equipment Total Stockholders' Equity (25) O O Cash Common Stock Dopr. Expense-Equipment Dividends Accounts Payable Accounts Receivable Aco. Depr.- Equipment O Equipment Office Supplies Prepaid Rent O Rent Expense O Retained Earnings O Salaries Expense Salaries Payable Service Revenue Supplies Expense Utilities Expenso Supplies Expense Utilities Expense Print (25) O Accounts Payable O Accounts Receivable Acc. Depr.- Equipment Cash Common Stock O Depr. Expense-Equipment Dividends O Equipment O Office Supplies Prepaid Rent O Rent Expense Retained Earnings O Salaries Expense Salaries Payable Service Revenue O Supplies Expense O Utilities Expense (26) O O Accounts Payable Accounts Receivable Acc. Depr.-Equipment O Cash O Common Stock O Depr. Expense-Equipment Dividends O Equipment O Office Supplies Prepaid Rent Rent Expense Retained Earnings O Salaries Expense Salaries Payable Service Revenue Supplies Expense Utilities Expense (27) O O Accounts Payable O Accounts Receivable Acc. Depr.- Equipment O Cash Common Stock O Depr. Expense-Equipment Dividends O Equipment O Office Supplies Prepaid Rent Rent Expense Retained Earnings O Salaries Expense O Salaries Payable Service Revenue O (28) O O Current Assets: Current Liabilities: Expenses: Long-term Liabilities: Property, Plant, and Equipment: Revenues: Total Assets Total Current Assets Total Expenses Total Liabilities Total Liabilities and Stockholders Equity Total Property, Plant, and Equipment Total Stockholders' Equity Supplies Expense Utilities Expense (29) O O Accounts Payable O Accounts Receivable Aco. Depr.- Equipment O Cash O Common Stock O Depr. Expense-Equipment Dividends O Equipment O Office Supplies Prepaid Rent Rent Expense O Retained Earnings O Salaries Expense Salaries Payable Service Revenue O Supplies Expense Utilities Expense (30) O O Accounts Payable O Accounts Receivable Acc. Depr.-Equipment O Cash O Common Stock O Depr. Expense-Equipment Dividends O Equipment O Office Supplies Prepaid Rent O Rent Expense Retained Earnings Salaries Expense Salaries Payable Service Revenue (31) O Current Assets: O Current Liabilities: Expenses: Long-term Liabilities: O Property, plant, and Equipment: Revenues: Total Assets O Total Property, Plant, and Equipment Total Stockholders' Equity Total Current Assets Total Expenses Tatal Liabilities Total Liabilities and Stockholders Equity O Total Property, Plant, and Equipment Total Stockholders' Equity (32) O Long-term Liabilities: Current Assets: O Property, Plant, and Equipment: O Current Liabilities: O Revenues: O Expenses: Total Assets Total Current Assets Total Expenses Total Liabilities Total Liabilities and Stockholders Equity
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started