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Provide the following accounts balances from the Adjusted Trial Balance: Cash Blank 2 Accounts Receivable Blank 3 Supplies Blank 4 Prepaid Insurance Blank 5 Equipment
Provide the following accounts balances from the Adjusted Trial Balance: | |||||||||||
Cash | Blank 2 | ||||||||||
Accounts Receivable | Blank 3 | ||||||||||
Supplies | Blank 4 | ||||||||||
Prepaid Insurance | Blank 5 | ||||||||||
Equipment | Blank 6 | ||||||||||
Accumulated Depreciation | Blank 7 | ||||||||||
Accounts Payable | Blank 8 | ||||||||||
Wages Payable | Blank 9 | ||||||||||
Common Stock | Blank 10 | ||||||||||
Retained Earnings | Blank 11 | ||||||||||
#8. | Prepare Income Statement, Statement of Stockholders Equity, and Classified Balance Sheet under the Financial Statements tab for the month ended December 31, 20XX in the excel template file "Accounting Cycle Excel Template.xlsx". | ||||||||||
Provide the following amount from the Income Statement: | |||||||||||
Service Revenue | Blank 12 | ||||||||||
Depreciation Expense | Blank 13 | ||||||||||
Wages Expense | Blank 14 | ||||||||||
Supplies Expense | Blank 15 | ||||||||||
Rent Expense | Blank 16 | ||||||||||
Insurance Expense | Blank 17 | ||||||||||
Net Income | Blank 18 | ||||||||||
Provide the following account balance from the Statement of Stockholders' Equity: | |||||||||||
Dividends | Blank 19 | ||||||||||
Provide the following account balances from the Balance Sheet: | |||||||||||
Current Assets | Blank 20 | ||||||||||
Long-Term Assets | Blank 21 | ||||||||||
Total Liabilities | Blank 22 | ||||||||||
Total Stockholders Equity | Blank 23 | ||||||||||
Cash | Blank 24 | ||||||||||
#9. | Record the closing entries under the General Journal tab. | ||||||||||
#10. | Post all of the closing entries to the T-accounts under the T-Accounts tab. Compute the balance for each T-account after all of the closing entries have been posted. | ||||||||||
Provide the ending balance of Cash at December 31 from the T-account | Blank 25 | ||||||||||
Provide the balance of the Retained Earnings T-account after closing entries have been posted. | Blank 26 | ||||||||||
Does the ending balance of the Retained Earnings T-account agree with the balance of Retained Earnings on the Balance Sheet? | Blank 27 | ||||||||||
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