CrissCross Words creates crossword puzzles. It offers a subscription service for weekly puzzles and will also create custom crossword puzzles to order. Below is its adjusted trial balance for 2020. CrissCross Words Adjusted Trial Balance December 31st, 2020 Debit Credit Cash $37,000 Accounts Receivable 700 Supplies 300 Deferred Revenue $14,000 Common Stock 10,000 Retained Earnings 11,200 Service Revenue 7,000 Subscription Revenue 10,000 Rent Expense 2,400 Salaries Expense 11,000 Supplies Expense 400 Utilities Expense 400 Total $52,200 $52,200 Complete the 2020 Balance Sheet for CrissCross Words. The company's Net Income for 2020 is $2,800.

CrissCross Words creates crossword puzzles. It offers a subscription service for weekly puzzles and will also create custom crossword puzzles to order. Below is its adjusted trial balance for 2020. CrissCross Words Adjusted Trial Balance December 31st, 2020 Debit Credit Cash $37,000 Accounts Receivable 700 Supplies 300 Deferred Revenue $14,000 Common Stock 10,000 Retained Earnings 11,200 Service Revenue 7,000 Subscription Revenue 10,000 Rent Expense 2,400 Salaries Expense 11,000 Supplies Expense 400 Utilities Expense 400 Total $52,200 $52,200 Complete the 2020 Balance Sheet for CrissCross Words. The company's Net Income for 2020 is $2,800.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 5P

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CrissCross Words
	Debit	Credit
Cash	$37,000
Accounts Receivable	700
Supplies	300
Deferred Revenue		$14,000
Common Stock		10,000
Retained Earnings		11,200
Service Revenue		7,000
Subscription Revenue		10,000
Rent Expense	2,400
Salaries Expense	11,000
Supplies Expense	400
Utilities Expense	400
Total	$52,200	$52,200

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Santo Design was founded by Thomas Grant in January 2011. Presented below is the adjusted trial balance as of December 31, 2020. Santo DesignAdjusted Trial BalanceDecember 31, 2020 Dr. Cr. Cash $  11,350 Accounts Receivable 21,500 Supplies 5,000 Prepaid Insurance 2,500 Equipment 60,000 Accumulated Depreciation—Equipment $  35,000 Accounts Payable 5,000 Interest Payable 150 Notes Payable 5,000 Unearned Service Revenue 5,600 Salaries and Wages Payable 1,300 Common Stock 10,000 Retained Earnings 3,500 Service Revenue 61,500 Salaries and Wages Expense 11,300 Insurance Expense 850 Interest Expense 150 Depreciation Expense 7,000 Supplies Expense 3,400 Rent Expense   4,000 000,000 $127,050 $127,050 Instructions a.    Prepare an income statement and a retained earnings statement for the year ending December 31, 2020, and an unclassified balance sheet at December 31. b.    Answer the following…

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CrissCross Words
Adjusted Trial Balance
December 31st, 2020
	Debit	Credit
Cash	$37,000
Accounts Receivable	700
Supplies	300
Deferred Revenue		$14,000
Common Stock		10,000
Retained Earnings		11,200
Service Revenue		7,000
Subscription Revenue		10,000
Rent Expense	2,400
Salaries Expense	11,000
Supplies Expense	400
Utilities Expense	400
Total	$52,200	$52,200