Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Unadjusted Trial Balance The trial balance of Skydive Tours at September 30, 2020, follows: (Click the icon to view the trial balance.) Additional information at
Unadjusted Trial Balance The trial balance of Skydive Tours at September 30, 2020, follows: (Click the icon to view the trial balance.) Additional information at September 30, 2020: (Click the icon to view the additional information.) Complete the Skydive Tours worksheet for September 2020. What was net income for the month ended September 30, 2020? Skydive Tours Unadjusted Trial Balance September 30, 2020 ... Income Balance Statement Sheet Balance Account Names Debit Credit Debit Credit Additional information Account Title Debit Credit Cash Cash $ 14.240 Accounts receivable 11,880 a. 2,400 6,780 Additional information at September 30, 2020: The business had corporate sales that were not recorded yet in the amount of $840. It must accrue this service revenue. b. Equipment amortization in the amount of $260 needs to be recorded. The business needs to accrue salaries expense of $2,100 for work done but not yet recorded d. Prepaid rent used in the amount of $1,200. e. Supplies worth $3,200 were used up during the period. C. Accounts Receivable Prepaid Rent Supplies Equipment Accumulated amortization equipment Accounts payable Salaries payable R. Puri, capital R. Puri, withdrawals 65,200 $ 5,680 10,320 Prepaid rent Supplies Equipment Acc. amort-equipment Accounts payable Salaries payable R. Puri, capital R. Puri, withdrawals Service revenue Amort expense-equipment Salaries expense Rent expense Utilities expense Supplies expense 72,060 6,000 Done Print 23,600 3,600 Service revenue Amortization expense-equipment Salaries expense Rent expense Utilities expense Supplies expense 1,560 $ 111,660 $ 111,660 Total Net income or loss Print The net income for September was $ Print Done
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