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The following selected account balances, before adjustments, for Mulberry Digital Services Company are available. Additional information regarding year-end adjustments is also provided below. (Click the
The following selected account balances, before adjustments, for Mulberry Digital Services Company are available. Additional information regarding year-end adjustments is also provided below. (Click the icon to view the selected accounts and balances.) (Click the icon to view the adjustment data and additional information.) Complete the proof that Total assets = Total liabilities + Total stockholders' equity, after all adjustments have been made Total assets Total liabilities Total stockholders' equity Data Table - X More Info x $ 13,000 46,500 14.000 161,000 35,000 Cash Accounts receivable Supplies Prepaid insurance Building Accumulated depreciation- building Land Accounts payable Salary payable Unearned service revenue 9.500 Common stock ... 7,700 Retained earnings 4,300 Dividends declared 3,300 Service revenue 104,000 Salary expense Depreciation expense- 12,000 building 56,000 Supplies expense 6,100 Insurance expense Advertising expense 5.200 Utilities expense Adjusting data at the end of the year include the following: a. Unearned service revenue that has been earned, $1,560 b. Accrued service revenue, $32,200 c. Supplies used in operations, $3,600 d. Accrued salary expense, $3,200 e. Prepaid insurance expired, $1,100 f. Depreciation expensebuilding, $2,000 Megan Hyman, the principal stockholder, has received an offer to sell Mulberry Digital Services Company. She needs to know the following information within one hour. a. Net income for the year covered by these data b. Total assets c. Total liabilities d. Total stockholders' equity e. Proof that Total assets = Total liabilities + Total stockholders' equity after all items are updated 7,500 2.500 Print Done Print Done
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