Question
Windsor, Inc. was organized on July 1, 2022. Quarterly financial statements are prepared. Information from the unadjusted and adjusted tabular summary on September 30, 2022
Windsor, Inc. was organized on July 1, 2022. Quarterly financial statements are prepared. Information from the unadjusted and adjusted tabular summary on September 30, 2022 is shown as follows. The $13,616 in the revenue column includes Service Revenue: $12,972 and Rent Revenue: $644. The $9,354 in the expense column includes Salaries and Wages $8,096, Rent $828, and Utilities $430.
Assets | = | Liabilities | + | Stockholders Equity | |||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | + | Accts. Rec. | + | Supplies | + | Prepd. Rent | + | Equip. | - | Acc. Depr.- Equip. | Notes Pay. | + | Accts. Pay. | + | Sal./Wages Pay. | + | Int. Pay | + | Unearn. Rent. Rev. | Com. Stock | + | Retained Earnings | |||||||||
= | + | Rev. | - | Exp. | - | Div | |||||||||||||||||||||||||
Bal. | 6,164 | + | 368 | + | 1,104 | + | 1,656 | + | 13,800 | - | 0 | = | 4,600 | + | 982 | + | 0 | + | 0 | + | 920 | + | 12,880 | + | 13,616 | - | 9,354 | - | 552 | ||
Adj. 1. | |||||||||||||||||||||||||||||||
Adj. 2. | |||||||||||||||||||||||||||||||
Adj. 3. | |||||||||||||||||||||||||||||||
Adj. 4. | |||||||||||||||||||||||||||||||
Adj. 5. | |||||||||||||||||||||||||||||||
Adj. 6. | |||||||||||||||||||||||||||||||
Adj. 7 | |||||||||||||||||||||||||||||||
Adj. Bal. | 6,164 | + | 920 | + | 168 | + | 828 | + | 13,800 | - | 322 | = | 4,600 | + | 982 | + | 552 | + | 46 | + | 736 | + | 12,880 | + | 14,352 | - | 12,038 | - | 552 |
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