Answered step by step
Verified Expert Solution
Question
1 Approved Answer
This company needs to create their worksheet at the end of the month with the following information *Fill in the Worksheet (Adjust the entries, create
This company needs to create their worksheet at the end of the month with the following information | |||||||||||
*Fill in the Worksheet (Adjust the entries, create the Adjusted Trial Balance, Income Statement and Balance Sheet) | |||||||||||
Write the correct answer in the white and orange boxes | |||||||||||
Transactions: | |||||||||||
1 At the end of the period I have 500 of supplies on hand | |||||||||||
2. Depreciation is 250 for the period | |||||||||||
3. Interest accrued for the period for 400 | |||||||||||
4. Insurance expires at a rate of 540 | |||||||||||
5. Services provided but unbilled for 1750 | |||||||||||
Account Name | Trial Balance | Adjustments | Adjusted Trial Balance | Income Statement | Balance Sheet | ||||||
Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr | ||
Cash | 12400 | ||||||||||
Accounts Receivable | 2620 | ||||||||||
Supplies | 1250 | ||||||||||
Prepaid Insurance | 2000 | ||||||||||
Equipment | 32000 | ||||||||||
Notes Payable | 10000 | ||||||||||
Accounts Payable | 12350 | ||||||||||
Common Stock | 20000 | ||||||||||
Dividends | 600 | ||||||||||
Service Revenue | 13620 | ||||||||||
Salaries Expense | 3200 | ||||||||||
Travel Expense | 900 | ||||||||||
Rent Expense | 1000 | ||||||||||
Supplies expense | |||||||||||
Depreciation expense | |||||||||||
Accumulated Depreciation | |||||||||||
Interest Expense | |||||||||||
Interest Payable | |||||||||||
Insurance Expense | |||||||||||
Net income | |||||||||||
TOTAL | 55970 | 55970 |
Step 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