Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

set up exactly like table given 1 You are required to complete the problem shown below. Worksheet (24 points) - Bahamas Enterprises offers ruig cleaning

set up exactly like table given image text in transcribed
image text in transcribed
image text in transcribed
1 You are required to complete the problem shown below. Worksheet (24 points) - Bahamas Enterprises offers ruig cleaning services to business clients. Below is the trial balance for Bahamas Enterprises, which has been entered into the work sheet for the year ended January 31. REQUIRED: . Enter the adjusting entries in the worksheet and complete the Adjusted Trial Balance columns ONLY (12 points) Adjustment data: The equipment is estimated to last for 5 years with no salvage value. The asset will be depreciated evenly over its useful lite Record one month's depreciation b Accrued wages, $4 Unused supplies on hand, $16. d. of the unearned revenue. 75% has been earned. e. Unexpired insurance remaining at the end of the month, $18. a. C B. Using the Adjusted Trial Balance, calculate the following (12 points): Net income Ending capital balance b. c. Total Assets d. Total liabilities Bahanterice Adjusted Trial Balance Debit Credit Cash Prepaid Insurance Fees Receivable Supplies Equipment Accumulated Depreciation Unearned Revenue Accounts Payable Wages Payable Ruben Ramon, Capital Ruben Ramon, Drawing Service Revenue Advertising Expense Wage Expense Bahamas Enterprises End-of-Period Spreadsheet For the Year Ended January 31 Trial Balance Adjustments Debit Credit Debit Credit 72 24 112 24 120 24 40 64 1 168 81 1601 56 40 Totals 456 456 Business Name Worksheet Period Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Account Name Income Statement Debit Credit Balance Sheet Debit Credit Totals Nancom

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

Auditing Theory And Practice

Authors: C. William Thomas

1st Edition

0534013880, 978-0534013882

More Books

Students also viewed these Accounting questions

Question

What is the environment we are trying to create?

Answered: 1 week ago

Question

How can we visually describe our goals?

Answered: 1 week ago