> Unadjusted Trial Balance - P 2,753,000 > Adjusted Trial Balance P 2,765,000 > Balance sheet (Debit Column) P 1,628,000 >Income Statement (Credit Column) P 885,000
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The worksheet of Entity A shows the following amount. How much is the net income/(net loss)?
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- Based on the account balances below, what is the total of the debit and credit columns of the adjusted trial balance? Service revenue $5510 Equipment $7500 Cash 2725 Prepaid insurance 1295 Unearned service revenue 5390 Depreciation expense 870 Salaries and wages expense 1280 Accum. depreciation 1550 Common stock 600 Retained earnings 620 $11520 $13670 $13260 $12120P2-4A The trial balance of Avtar Sandhu Co. shown below does not balance.AVTAR SANDHU CO.Trial BalanceJune 30, 2017 Debit CreditCash $ 3,340Accounts Receivable $ 2,812Supplies 1,200Equipment 2,600Accounts Payable 3,666Unearned Service Revenue 1,100Owner’s Capital 8,000Owner’s Drawings 800Service Revenue 2,480Salaries and Wages Expense 3,200Utilities Expense 810 $12,522 $17,486Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors.1. Cash received from a customer in payment of its account was debited for $580, and Accounts Receivable was credited for the same amount. The actual collection was for $850.2. The purchase of a computer on account for $710 was recorded as a debit to Supplies for $710 and a credit to Accounts Payable for $710.3. Services were performed on account for a client for $980. Accounts Receivable was debited for $980, and Service Revenue was credited for $98.4. A debit posting to…[PLS ANSWER ASAP] Service Revenue has a balance of P500,000 of which 45% has been earned. a. Debit to Unearned Service Revenue - P225,000. b. Credit to Unearned Service Revenue - P225,000. c. Debit to Service Revenue - P275,000. d. Credit to Service Revenue - P275,000.
- The unadjusted trial balance for PS Music as of July 31, 20Y5 is as follows: PS MusicUnadjusted Trial BalanceJuly 31, 20Y5 Account No. Debit Balances Credit Balances Cash 11 9,945 Accounts Receivable 12 2,750 Supplies 14 1,020 Prepaid Insurance 15 2,700 Office Equipment 17 7,500 Accounts Payable 21 8,350 Unearned Revenue 23 7,200 Common Stock 31 9,000 Dividends 33 1,750 Fees Earned 41 16,200 Wages Expense 50 2,800 Office Rent Expense 51 2,550 Equipment Rent Expense 52 1,375 Utilities Expense 53 1,215 Music Expense 54 3,610 Advertising Expense 55 1,500 Supplies Expense 56 180 Miscellaneous Expense 59 1,855 40,750 40,750 Based on those balances and the additional data below, prepare adjusting journal entries. Include Posting References, using the account numbers in your spreadsheet. You will need the following additional accounts: Account # Account Name 18 Accumulated Depreciation-Office…1. PREPARE AN INCOME STATEMENT & BALANCE SHEET - TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BAL INCOME STATEMENT BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT CASH 419,640.0 419,640.0 ACCOUNTS RECEIVABLE 30,000.0 30,000.0 SUPPLIES 10,000.0 1)8000 2,000.0 PREPAID INSURANCE 12,000.0 2)1000 11,000.0 OFFICE EQUIPMENT 40,000.0 40,000.0 ACCOUNTS PAYABLE 40,000.0 40,000.0 APEX, CAPITAL 500,000.0 500,000.0 APEX DRAWING 10,000.0…4. The following is extracted trial balance of Grey Grig Ltd as at 30 June 2019. Grey Grig LtdTrial Balance as at 30 June 2019Particulars Debit (RM) Credit (RM)Equipment rental 940Insurance 1,804Lighting and heating expenses 1,990Motor expenses 2,350Salaries and wages 48,580Sales 382,420Purchase 245,950Sundry expenses 624Lorry 19,400Account payable 23,408Account receivable 44,516Fixtures 4,600Shop 174,000Cash at bank 11,346Drawings 44,000Capital 194,272TOTAL 600,100 600,100Inventory at 30 June 2019 was RM29,304.Required: i. Statement of Profit and Loss and Others Comprehensive Income for the year ended 30 June 2019 ii. Statement of Financial Position as 30 June 2019
- 1. PREPARE ADJUSTED TRIAL BALANCE , INCOME STATEMENT & BALANCE SHEET - TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BAL INCOME STATEMENT BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT CASH 419,640.0 ACCOUNTS RECEIVABLE 30,000.0 OFFICE EQUIPMENT 40,000.0 ACCOUNTS PAYABLE 40,000.0 APEX, CAPITAL 500,000.0 APEX DRAWING 10,000.0 PURCHASES 85,000.0 PURCHASE RETURN 3,000.0 PURCHASE DISCOUNT 1,440.0 SALES 110,000.0 SALES DISCOUNT…1. What is the total of the debit side of the trial balance for Tours4fun? A. 517,000 B. 490,000 C. 450,000 D. 497,000 2. How much is the income of Tours4fun after taking into account all transactions? A. 14,800 B. 15,800 C. 16,800 D. 17,800 3. What is the total assets of Tours4fun? A. 437,900 B. 478,900 C. 429,800 D. 456,000Q1. From the following trial balance and the adjustment, data prepare the adjusted trial balance. Particulars Dr. ($) Cr. ($) Cash 7,700 Accounts receivables 19,200 Prepaid Rent 2,400 Supplies 1,300 Equipment 19,900 Accumulated depreciation 4,300 Accounts Payable 3,600 Salary Payable Unearned service revenue 2,600 Common stock 17,000 Retained earnings 22,500 Dividends 9,500 Service revenue 15,400 Salary expense 3,500 Rent expense Depreciation expense Advertising expense 1,900 Supplies expense Total 65,400 65,400 Adjustment data at December 31st is as follow: Unearned service revenue still unearned $ 1,100 Prepaid rent still in force $ 500 Depreciation for the month $ 900 Supplies used during the month $ 600 Salary outstanding $ 1,100 Advertisement expenses outstanding $ 900
- 3. The following is the trial balance of Aroro Enterprise as at 31 August 2019Particulars Debit (RM) Credit (RM)Capital 48,400Drawings 3,500Trade receivables 9,000Trade payables 12,500Sales 40,400Purchases 31,000Sales returns 300Purchases returns 250Wages and salaries 5,600Discounts allowed 120Discounts received 200Provision for doubtful debts 300Insurance 700Inventory as at 1 September 2018 2,400Utilities 950Rates 350Premises 10,000Fixtures and fittings 3,000Motor van 20,000Cash in hand 330Cash at bank 14,800TOTAL 102,050 102,050Additional information as at 31 August 2019:i. Inventory as at 31 August 2019 amounted RM3,300ii. An entity from whom there is accounts receivables of RM200 was unable tosettle his debt and this amount is to be written off as bad debts.iii. The provision for doubtful debts is 1% of the outstanding trade receivables.iv. The owner took RM100 worth of goods from the business for his own useRequired:a) Statement of Profit or Loss and Others Comprehensive Income…Given the following adjusted trial balance: Debit Credit Cash $2028 Accounts receivable 2560 Inventory 3811 Prepaid rent 105 Equipment 370 Accumulated depreciation-equipment $63 Accounts payable 100 Unearned service revenue 149 Common stock 266 Retained earnings 8060 Service revenue 449 Interest revenue 68 Salaries and wages expense 200 Travel expense 81 Total $9155 $9155 Net income for the year is: a.) $517. b.) $723. c.) $463. d.) $236.create a balance sheet for the following: Adjusted Trial Balance Account Titles Dr Cr Cash 26,143 Equity securities portolio 47,521 Fair value adjustment 3,585 Accounts receivable 284,171 Allowance for doubtful accounts 14,209 Inventory 623,636 Prepaid insurance 11,080 Land 414,518 Buildings 1,455,667 Accumulated depreciation-bldg 490,534 Equipment 1,041,038 Accumulated depreciation-equip 337,259 Deferred tax asset 6,000 Patent 17,970 Accounts payable 205,799 Income taxes payable 108,659 Note payable 42,000 Bonds payable 300,000 Premium on bonds payable 16,038 Preferred stock (5%, $100 par) 200,000 Common stock ($10 par value) 400,000 Paid-In capital in excess of par 471,999 Retained earnings 934,729 Dividends 90,000 Sales revenue 4,634,536 Cost of goods sold 3,172,647 Salaries and wages expense 580,593 Advertising expense 65,641 Depreciation expense 161,167…
