Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use trial balance to solve part two and three please Financial Statement Homework #1 Name Insert Unadjusted Trial Balance HERE: Darby Company Unadjusted Trial Balance

Use trial balance to solve part two and three please
image text in transcribed
image text in transcribed
image text in transcribed
Financial Statement Homework #1 Name Insert Unadjusted Trial Balance HERE: Darby Company Unadjusted Trial Balance December 31, 2018 132,000 27,500 7,000 12,000 106,000 22,000 76,000 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 45,000 8,000 17,400 7,000 35,000 52,000 65,100 5,000 481,000 11,000 41,000 5,000 58,000 12,000 145,000 12,000 4,000 35,000 710,500 710,500 Dana 1 Part 2: Post the adjusting journal entries to t-accounts: (Hints on getting started: Above each T-account, write the account name of each account affected by an adjusting journal entry (you may not need to use all of the T- accounts). Write in the unadjusted balance for each of these accounts from the Unadjusted Trial Balance provided in question 1 of your D2L quiz (the unadjusted balance might be a debit, a credit, or zero balance). Now you are ready to post your adjusting journal entries from Part 1 to the corresponding T-accounts and calculate adjusted balances . T TT 1 Page 3 of Part 3: Prepare the Adjusted Trial Balance (i.e. after the previous 6 journal entries are posted) (Company Name) (Date) Adjusted Trial Balance Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total

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

Governmental Accounting

Authors: Steven M. Bragg

2022nd Edition

1642210781, 978-1642210781

More Books

Students also viewed these Accounting questions

Question

Explain the concept of shear force and bending moment in beams.

Answered: 1 week ago