Please help Ch. 4 Classwork - Financial Statements and Closing EntriesAccount NameCashM4 Engineering, Inc.Adjusted Trial BalanceFor the Year Ended December 31, 2020DebitAccounts ReceivableSuppliesBuildingAccum. DepreciationAccounts PayableNotes PayableCommon StockRetained EarningsDividendsFees EarnedDepreciation ExpenseRent ExpenseUtility ExpenseTotals15,00010,000750100,0003,0002,00018,0006,200154,950CreditFor the year ended December 31, 2020, prepare the Financial Statements,Closing Journal Entries, update the T-Accounts, and prepare thePost-Closing Trial Balance.15,4505,00012,00025,00017,50080,000154,950 CashDr.Dr15,00015,000ASSETSAccounts ReceivableDr.Cr.10,00010,000SuppliesDr.750750110,300BuildingDr.100,000100,000Cr.Cr.Accum. DepreciationDr.Cr.15,45015,450110,300LIABILITIESAccountsDr.PayableCr.5,0005,000Notes PayableDr.Cr.12,00012,000Account NameCashAccounts ReceivableSuppliesBuildingAccum. DepreciationAccounts PayableNotes PayableCommon StockRetained EarningsDividendsConCommon StockDr.Cr.25,000Fees EarnedDepreciation ExpenseRent ExpenseUtility ExpenseTotalsDividendsDr.3,0003,00025,000Ch. 4 Classwork - Financial Statements and Closing EntriesM4 Engineering, Inc.Post-Closing Trial BalanceFor the Year Ended December 31, 2020DebitCr.Retained EarningsCr.Dr.17,500EQUITYFees EarnedDr.17,500Cr.80,00080,000CreditDepreciation Exp.Cr.Dr.2,0002,000Rent ExpenseDr.Cr.18,00018,000UtilityUtility ExpenseDr.Cr.6,2006,200

Name: Please help Ch. 4 Classwork - Financial Statements and Closing Entries
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Description: Please help Ch. 4 Classwork - Financial Statements and Closing EntriesAccount NameCashM4 Engineering, Inc.Adjusted Trial BalanceFor the Year Ended December 31, 2020DebitAccounts ReceivableSuppliesBuildingAccum. DepreciationAccounts PayableNotes Payab

The financial statements of the business include the income statement and balance sheet. The…

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Account Name Cash M4 Engineering, Inc. Adjusted Trial Balance For the Year Ended December 31, 2020 Accounts Receivable Supplies Building Accum. Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Depreciation Expense Rent Expense Utility Expense Totals Debit 15,000 10,000 750 100,000 3,000 2,000 18,000 6,200 154,950 Credit For the year ended December 31, 2020, prepare the Financial Statements, Closing Journal Entries, update the T-Accounts, and prepare the Post-Closing Trial Balance. 15,450 5,000 12,000 25,000 17,500 80,000 154,950

Account Name Cash M4 Engineering, Inc. Adjusted Trial Balance For the Year Ended December 31, 2020 Accounts Receivable Supplies Building Accum. Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Depreciation Expense Rent Expense Utility Expense Totals Debit 15,000 10,000 750 100,000 3,000 2,000 18,000 6,200 154,950 Credit For the year ended December 31, 2020, prepare the Financial Statements, Closing Journal Entries, update the T-Accounts, and prepare the Post-Closing Trial Balance. 15,450 5,000 12,000 25,000 17,500 80,000 154,950

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter3: Basic Accounting Systems: Accrual Basis

Section: Chapter Questions

Problem 3.6.3P: Adjustment process and financial statements Adjustment data for Ms. Ellen’s Laundry Inc. for the...

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