The unadjusted trial bolance of The Rock industries Lid. at May 31, 2020, appears in the solution utep bolow. The adjustment data at May 31,2020 , is provided. (i) (Click the icon to view the month-end adjustment data) Requinements Requirement 1. Using the worksheot, prepare the adjusted trial balance of The Rock industries Lid at May 31,2020 . The unadjuated balances have been entered for you, Koy each adjuatry ent by letier, Caiculate the adjusted balance of each account, and then total the debit and credit columns in the acjusted trial balance. (Leave unused cells blank. Round your anowers to the neareat while number.) The unadjusted trial balance of The Rock industries Ltd, at May 31, 2020, appears in the solution step below. The adj (i. (Click the icon to view the month-end adjustment date.) Ask my instructor Requirements 1. Using the worksheet, prepare the adjusted trial balance of The Rock Industries Ltd. at May 31, 2020. The unadjusted balances have been entered for you. Key each adjusting entry by letter. 2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet. 3. a. Compare the business's net income for May to the amount of dividends paid to the owners. Suppose this trend continues into June. What will be the effect on the business's financial position, as shown by its accounting equation? b. Will the trend make it easier or more difficult for The Rock Industries to borrow money if the business gets in a bind and needs cash? Why? c. Does either the current ratio or the cash position suggest the need for immediate borrowing? Explain. The unadusted trial balance of The Rock Industries Ltid. at May 31, 2020, appeans in the solution stop below, The adustinant data at May 31, 2020 (i) (Click the icon to vlow the month-end adjustment data.) Requirements Ask my instructor The unadjusted trial bolance of The Rock industries Lid. at May 31, 2020, appears in the solution utep bolow. The adjustment data at May 31,2020 , is provided. (i) (Click the icon to view the month-end adjustment data) Requinements Requirement 1. Using the worksheot, prepare the adjusted trial balance of The Rock industries Lid at May 31,2020 . The unadjuated balances have been entered for you, Koy each adjuatry ent by letier, Caiculate the adjusted balance of each account, and then total the debit and credit columns in the acjusted trial balance. (Leave unused cells blank. Round your anowers to the neareat while number.) The unadjusted trial balance of The Rock industries Ltd, at May 31, 2020, appears in the solution step below. The adj (i. (Click the icon to view the month-end adjustment date.) Ask my instructor Requirements 1. Using the worksheet, prepare the adjusted trial balance of The Rock Industries Ltd. at May 31, 2020. The unadjusted balances have been entered for you. Key each adjusting entry by letter. 2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet. 3. a. Compare the business's net income for May to the amount of dividends paid to the owners. Suppose this trend continues into June. What will be the effect on the business's financial position, as shown by its accounting equation? b. Will the trend make it easier or more difficult for The Rock Industries to borrow money if the business gets in a bind and needs cash? Why? c. Does either the current ratio or the cash position suggest the need for immediate borrowing? Explain. The unadusted trial balance of The Rock Industries Ltid. at May 31, 2020, appeans in the solution stop below, The adustinant data at May 31, 2020 (i) (Click the icon to vlow the month-end adjustment data.) Requirements Ask my instructor
