Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Titles I need to use: The corrected Journal Entries. How do I do the ledger accounts? and how do I do the income statement?
The Titles I need to use:
The corrected Journal Entries.
How do I do the ledger accounts?
and how do I do the income statement?
and how do I do the balance sheet?
\begin{tabular}{|c|c|} \hline \multirow{3}{*}{BegininingBal[lnserttext]} & Vehicless.20000000 \\ \hline & S2200,0,000.00[insertvalue] \\ \hline & \\ \hline \multirow{3}{*}{Begeninininbbal[nnserttext]} & Accumulateddepreciation-vehiclics \\ \hline & \\ \hline & \\ \hline \multirow{3}{*}{ [insert text] } & RightofUseessetInnsertvelueI \\ \hline & \\ \hline & \\ \hline \end{tabular} Lou's Crew Income Statement For Month ending March 31, 20XX Revenues Total Revenues Operating Expenses: [Insert text] [Insert text] [Insert text] [Insert text] [Insert text] \begin{tabular}{|l|} \hline \\ \hline$ \\ \hline \end{tabular} Total Operating Expenses: Net Income \begin{tabular}{|l|} \hline [Insert value ] \\ \hline [Insert value ] \\ \hline [Insert value ] \\ \hline [Insert value ] \\ \hline[ Insert value ] \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \$ \\ \hline \end{tabular} This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you. \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{2}{|l|}{ Asset Accounts } & \multicolumn{2}{|l|}{ Liability Accounts } & \multicolumn{2}{|l|}{ Equity Accounts } \\ \hline & Acct \# & & Acct \# & & Acct \# \\ \hline Cash & 105 & Bank Loan & 203 & Retained Earnings & 301 \\ \hline Construction Equipment & 106 & Lease Liability & 204 & & \\ \hline Accumulated Depreciation - Construction Equipment & 107 & Interest Payable & 205 & & \\ \hline Vehicles & 108 & & & & \\ \hline Accumulated Depreciation - Vehicles & 109 & & & & \\ \hline Long-term Investments and Intangibles & 110 & & & & \\ \hline Accumulated Amortization & 111 & & & & \\ \hline Right of Use Lease Asset & 112 & & & & \\ \hline Accumulated Amortization - Right of Use Lease Asset & 113 & & & Revenue Accounts & \\ \hline & & & & & Acct \# \\ \hline & & & & Sales Revenue & 401 \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & Expense Accounts & \\ \hline & & & & & Acct \# \\ \hline & & & & Rent Expense & 501 \\ \hline & & & & Interest Expense & 502 \\ \hline & & & & Depreciation Expense & 503 \\ \hline & & & & Impairment Expense & 504 \\ \hline & & & & Loss on Disposal of Equipment & 505 \\ \hline \end{tabular} Lou's Crew Balance Sheet As of March 31, 20XX \begin{tabular}{|c|c|} \hline \multirow{3}{*}{BegininingBal[lnserttext]} & Vehicless.20000000 \\ \hline & S2200,0,000.00[insertvalue] \\ \hline & \\ \hline \multirow{3}{*}{Begeninininbbal[nnserttext]} & Accumulateddepreciation-vehiclics \\ \hline & \\ \hline & \\ \hline \multirow{3}{*}{ [insert text] } & RightofUseessetInnsertvelueI \\ \hline & \\ \hline & \\ \hline \end{tabular} Lou's Crew Income Statement For Month ending March 31, 20XX Revenues Total Revenues Operating Expenses: [Insert text] [Insert text] [Insert text] [Insert text] [Insert text] \begin{tabular}{|l|} \hline \\ \hline$ \\ \hline \end{tabular} Total Operating Expenses: Net Income \begin{tabular}{|l|} \hline [Insert value ] \\ \hline [Insert value ] \\ \hline [Insert value ] \\ \hline [Insert value ] \\ \hline[ Insert value ] \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \$ \\ \hline \end{tabular} This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you. \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{2}{|l|}{ Asset Accounts } & \multicolumn{2}{|l|}{ Liability Accounts } & \multicolumn{2}{|l|}{ Equity Accounts } \\ \hline & Acct \# & & Acct \# & & Acct \# \\ \hline Cash & 105 & Bank Loan & 203 & Retained Earnings & 301 \\ \hline Construction Equipment & 106 & Lease Liability & 204 & & \\ \hline Accumulated Depreciation - Construction Equipment & 107 & Interest Payable & 205 & & \\ \hline Vehicles & 108 & & & & \\ \hline Accumulated Depreciation - Vehicles & 109 & & & & \\ \hline Long-term Investments and Intangibles & 110 & & & & \\ \hline Accumulated Amortization & 111 & & & & \\ \hline Right of Use Lease Asset & 112 & & & & \\ \hline Accumulated Amortization - Right of Use Lease Asset & 113 & & & Revenue Accounts & \\ \hline & & & & & Acct \# \\ \hline & & & & Sales Revenue & 401 \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & Expense Accounts & \\ \hline & & & & & Acct \# \\ \hline & & & & Rent Expense & 501 \\ \hline & & & & Interest Expense & 502 \\ \hline & & & & Depreciation Expense & 503 \\ \hline & & & & Impairment Expense & 504 \\ \hline & & & & Loss on Disposal of Equipment & 505 \\ \hline \end{tabular} Lou's Crew Balance Sheet As of March 31, 20XXStep 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