Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Show me the steps to solve The Company A have the following balances as of November 3 0 , 2 0 2 3 : Cash
Show me the steps to solve The Company A have the following balances as of November :
Cash in Bank $
Accounts Receivables $
Allowance for Credit Losses $
Prepaid Expenses $
Inventory $
Property, Plant and Equipment $
Depreciation of PPE Y SL$
Deposits Utilities $
Accounts Payables $
Prepaid Revenues Clients $
Loan Payable $
Retained Earnings $
Equity Owners Contributions $
During December the following transactions have been made:
# Date Transaction description:
Paid November accrued secretarial wages for $ and Utilities for
Sale merchandise for $ on account to Client A Cost $
Received $ from Client B pending balance.
Pay cash of $ for a delivery van repair.
Owners contributes capital in cash $
Purchase office equipment priced at $ on account.
Loan year end balloon payment for $: principal and interest.
Received $ from Client A pending balance
Sale merchandise for $ cash to client C Cost
Purchase inventory for $ in cash
Paid December first half payroll $ in cash
Paid cash for a Truck Repair for $
Sale merchandise for $ cash to Client C Cost $
Paid November recorded payable for $
Sale merchandise for $ on account to Client A Cost $
Received $ from Client A pending balance
Sale merchandise for $ on account to Client B Cost $
Record end of the month Utilities accrual $
Record end of the month Salaries accrual $
Record end of the month Depreciation for $
Using the excel sheet provided:
Prepare the adjusting journal entries
Prepare the end of the month trial balance
Prepare the end of the month Income Statement Single Step Form
Prepare the end of the month Retained Earnings Statement
Prepare the end of the month Company Balance Sheet
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