Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following end-of-period spreadsheet to answer the question that follow. Account Title Balance Sheet Dr. 48,000 18,000 6,000 57,000 18,000 Cash Accounts Receivable Supplies

image text in transcribed
image text in transcribed
Use the following end-of-period spreadsheet to answer the question that follow. Account Title Balance Sheet Dr. 48,000 18,000 6,000 57,000 18,000 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable C. Finley, Capital C. Finley, Drawing Fees Earned Wages Expense Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Dr. Cr. Dr. Cr. 48,000 18,000 6,000 57,000 18,000 25,000 6,000 33,000 3,000 155,000 63,000 63.000 27,000 27,000 15,000 15.000 237,000 237.000 105,000 155.000 50.000 155,000 155.000 25,000 6,000 33,000 3,000 55.000 Rent Expense Depreciation Expense Net Income 82,000 50.000 132,000 132,000 JUT Balance Sheet Account Title Dr. Cash 48,000 18,000 6,000 57,000 18,000 25,000 Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable C. Finley, Capital C. Finley, Drawing Fees Earned Wages Expense Rent Expense Depreciation Expense For the Year Ended December 31 Adjusted Trial Balance Income Statement Dr. Cr. Dr. Cr. 48,000 18,000 6,000 57,000 18,000 25,000 6,000 33,000 3,000 155,000 155,000 63,000 63,000 27,000 27,000 15.000 15.000 237.000 105,000 155,000 50.000 155,000 155,000 6,000 33,000 3,000 07.000 132,000 82,000 50.000 Net Income 132,000 Use the end-of-period spreadsheet for Finley Company. The ending balance in C. Finley, Capital is a. $83,000 b. $80,000 C. $33,000 d. $30,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Finance

Authors: Michael J. Jones

1st Edition

1118932072, 9781118932070

More Books

Students also viewed these Accounting questions

Question

Case : Karl and June Monroe

Answered: 1 week ago

Question

What are our strategic aims?pg 87

Answered: 1 week ago