Question
The trial balances before and after adjustment for Cullumber Company at October 31, 2021, which is the end of its fiscal year, are as follows:
The trial balances before and after adjustment for Cullumber Company at October 31, 2021, which is the end of its fiscal year, are as follows:
Before Adjustment | After Adjustment | ||||||||
---|---|---|---|---|---|---|---|---|---|
Debit | Credit | Debit | Credit | ||||||
Cash | $9,220 | $9,220 | |||||||
Accounts Receivable | 8,775 | 9,340 | |||||||
Supplies | 2,475 | 730 | |||||||
Prepaid Insurance | 3,775 | 2,575 | |||||||
Equipment | 34,490 | 34,490 | |||||||
Accumulated DepreciationEquipment | $3,450 | $5,730 | |||||||
Accounts Payable | 5,760 | 5,760 | |||||||
Notes Payable | 38,875 | 38,875 | |||||||
Salaries Payable | 0 | 1,090 | |||||||
Interest Payable | 0 | 410 | |||||||
Unearned Revenue | 1,465 | 695 | |||||||
E. Cullumber, Capital | 5,760 | 5,760 | |||||||
E. Cullumber, Drawings | 10,085 | 10,085 | |||||||
Service Revenue | 46,825 | 48,160 | |||||||
Depreciation Expense | 0 | 2,280 | |||||||
Insurance Expense | 0 | 1,200 | |||||||
Interest Expense | 1,230 | 1,640 | |||||||
Rent Expense | 14,710 | 14,710 | |||||||
Salaries Expense | 17,375 | 18,465 | |||||||
Supplies Expense | 0 | 1,745 | |||||||
Totals | $102,135 | $102,135 | $106,480 | $106,480 |
Prepare Cullumber Companys statement of owners equity. (List items that increase owner's equity first.)
CULLUMBER COMPANY Statement Of Owner's Equity choose the accounting period Year Ended October 31, 2021Month Ended October 31, 2021October 31, 2021 | ||
---|---|---|
select an opening name DrawingsCullumber, Capital, November 1, 2020Cullumber, Capital, October 31, 2021ExpensesProfit / (Loss)RevenuesTotal ExpensesTotal Revenues | $enter a dollar amount | |
select between addition and deduction AddLess: select an item DrawingsCullumber, Capital, November 1, 2020Cullumber, Capital, October 31, 2021ExpensesProfit / (Loss)RevenuesTotal ExpensesTotal Revenues | enter a dollar amount | |
enter a subtotal of the two previous amounts | ||
select between addition and deduction LessAdd: select an item DrawingsCullumber, Capital, November 1, 2020Cullumber, Capital, October 31, 2021ExpensesProfit / (Loss)RevenuesTotal ExpensesTotal Revenues | enter a dollar amount | |
select a closing name DrawingsCullumber, Capital, November 1, 2020Cullumber, Capital, October 31, 2021ExpensesProfit / (Loss)RevenuesTotal ExpensesTotal Revenues | $enter a total amount |
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