Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The adjusted trial balance for Pina Colada Corp. is given below. Pina Colada Corp. Trial Balance August 31, 2020 Before Adjustment After Adjustment Dr. Cr.

The adjusted trial balance for Pina Colada Corp. is given below.

Pina Colada Corp. Trial Balance August 31, 2020

Before Adjustment

After Adjustment

Dr.

Cr.

Dr.

Cr.

Cash $10,500 $10,500
Accounts Receivable 8,600 10,000
Supplies 2,400 500
Prepaid Insurance 3,900 2,700
Equipment 12,500 12,500
Accumulated Depreciation-Equipment $ 3,700 $ 4,400
Accounts Payable 5,900 5,900
Salaries and Wages Payable 0 1,100
Unearned Rent Revenue 1,300 700
Common Stock 10,700 10,700
Retained Earnings 3,600 3,600
Service Revenue 34,000 35,400
Rent Revenue 10,900 11,500
Salaries and Wages Expense 17,000 18,100
Supplies Expense 0 1,900
Rent Expense 15,200 15,200
Insurance Expense 0 1,200
Depreciation Expense 0 700
$70,100 $70,100 $73,300 $73,300

Pina Colada Corp. Income Statement choose the accounting period August 31, 2020For the Quarter Ended August 31, 2020For the Year Ended August 31, 2020

select an opening name for section one DrawingsExpensesInvestmentNet Income / (Loss)Retained earnings, September 1, 2018Retained earnings, August 31, 2020RevenuesTotal ExpensesTotal Revenues

enter an income statement item

$enter a dollar amount

enter an income statement item

enter a dollar amount

select a closing name for section one DrawingsExpensesInvestmentNet Income / (Loss)Retained earnings, September 1, 2018Retained earnings, August 31, 2020RevenuesTotal ExpensesTotal Revenues

$enter a total amount for section one

select an opening name for section two DrawingsExpensesInvestmentNet Income / (Loss)Retained earnings, September 1, 2018Retained earnings, August 31, 2020RevenuesTotal ExpensesTotal Revenues

enter an income statement item

enter a dollar amount

enter an income statement item

enter a dollar amount

enter an income statement item

enter a dollar amount

enter an income statement item

enter a dollar amount

enter an income statement item

enter a dollar amount

select a closing name for section two DrawingsExpensesInvestmentNet Income / (Loss)Retained earnings, September 1, 2018Retained earnings, August 31, 2020RevenuesTotal ExpensesTotal Revenues

enter a total amount for section two

select a closing name for this statement DrawingsExpensesInvestmentNet Income / (Loss)Retained earnings, September 1, 2018Retained earnings, August 31, 2020RevenuesTotal ExpensesTotal Revenues

$enter a total net income or loss amount

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

Financial Accounting For Undergraduates

Authors: Wallace

4th Edition

1618533088, 9781618533081

More Books

Students also viewed these Accounting questions