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The adjusted trial balance for Lloyd Construction as of December 31, 2023 , follows: No. Account Debit Credit 101 Cash $ 15,300 104 Short-term investments
The adjusted trial balance for Lloyd Construction as of December 31, 2023, follows:
No. Account Debit Credit 101 Cash $ 15,300 104 Short-term investments 20,300 126 Supplies 6,900 149 Notes receivable 38,500 167 Equipment 71,000 168 Accumulated depreciation, equipment $ 34,500 173 Building 253,000 174 Accumulated depreciation, building 137,500 183 Land 82,500 193 Franchise 27,500 201 Accounts payable 16,300 203 Interest payable 120 233 Unearned professional revenue 26,300 251 Long-term notes payable 125,000 301 Amar Lloyd, capital 85,640 302 Amar Lloyd, withdrawals 2,300 401 Professional revenue 199,480 406 Rent revenue 22,500 606 Depreciation expense, building 19,300 612 Depreciation expense, equipment 7,300 623 Wages expense 63,300 633 Interest expense 540 637 Insurance expense 17,300 652 Supplies expense 12,100 688 Telephone expense 3,700 690 Utilitiesexpense 6,500 Totals $ 647,340 $ 647,340
Prepare a balance sheet at December 31, 2023. An analysis of other information reveals that Lloyd Construction is required to make a $41,500 payment on the long-term notes payable during 2024. The notes receivable are due May 1, 2025. Also, Amar Lloyd invested $68,000 cash early in 2023. Prepare an income statement for the year ended December 31, 2023. Prepare a statement of changes in equity for the year ended December 31, 2023.
Prepare a balance sheet at December 31, 2023.
The adjusted trial balance for Lloyd Construction as of December 31, 2023, follows:
No. | Account | Debit | Credit | ||||
101 | Cash | $ | 15,300 | ||||
104 | Short-term investments | 20,300 | |||||
126 | Supplies | 6,900 | |||||
149 | Notes receivable | 38,500 | |||||
167 | Equipment | 71,000 | |||||
168 | Accumulated depreciation, equipment | $ | 34,500 | ||||
173 | Building | 253,000 | |||||
174 | Accumulated depreciation, building | 137,500 | |||||
183 | Land | 82,500 | |||||
193 | Franchise | 27,500 | |||||
201 | Accounts payable | 16,300 | |||||
203 | Interest payable | 120 | |||||
233 | Unearned professional revenue | 26,300 | |||||
251 | Long-term notes payable | 125,000 | |||||
301 | Amar Lloyd, capital | 85,640 | |||||
302 | Amar Lloyd, withdrawals | 2,300 | |||||
401 | Professional revenue | 199,480 | |||||
406 | Rent revenue | 22,500 | |||||
606 | Depreciation expense, building | 19,300 | |||||
612 | Depreciation expense, equipment | 7,300 | |||||
623 | Wages expense | 63,300 | |||||
633 | Interest expense | 540 | |||||
637 | Insurance expense | 17,300 | |||||
652 | Supplies expense | 12,100 | |||||
688 | Telephone expense | 3,700 | |||||
690 | Utilitiesexpense | 6,500 | |||||
Totals | $ | 647,340 | $ | 647,340 | |||
Prepare a balance sheet at December 31, 2023.
An analysis of other information reveals that Lloyd Construction is required to make a $41,500 payment on the long-term notes payable during 2024. The notes receivable are due May 1, 2025. Also, Amar Lloyd invested $68,000 cash early in 2023.
Prepare an income statement for the year ended December 31, 2023.
Prepare a statement of changes in equity for the year ended December 31, 2023.
Prepare a balance sheet at December 31, 2023.
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