The trial balance and adjustment data of Mylas Motors, Inc., at November 30, 2012, follow: Additional data
Question:
Additional data at November 30, 2012:
a. Depreciation on equipment, $1,100.
b. Accrued wage expense, $600.
c. Supplies on hand, $200.
d. Prepaid insurance expired during November, $200.
e. Unearned service revenue earned during November, $4,000.
f. Accrued service revenue, $800.
Requirements
1. Complete Mylas worksheet for November. Key adjusting entries by letter.
2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account form for the month ended November 30,2012.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial And Managerial Accounting
ISBN: 9780135080191
2nd Edition
Authors: Charles T Horngren, Jr Walter T Harrison
Question Posted: