In alphabetical order below are balance sheet items for Taylor Company at December 31, 2022. Dorothy Taylor is the owner of TaylorCompany. Accounts payable $ 87,700 Accounts receivable 64,000 Cash 41,000 Owner’s capital 17,300 Prepare a balance sheet. (List Assets in order of liquidity.)
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In alphabetical order below are
Accounts payable
|
$ 87,700 | |
|
64,000 | |
Cash
|
41,000 | |
Owner’s capital
|
17,300 |
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- SERIES A EXERCISES ACCOUNTING ELE MENT S Label each of the following accounts as an asset (A), a liability (L), or owners equity (OE), using the following format:Missing amounts from Financial statements The financial statements at the end of Network Realty, Inc.’s first month of operations are shown below. 11y analyzing the interrelationships among the financial statements, fill in the proper amounts for (a) through (s).Problem 1-57B The Fundamental Accounting Equation Information for TTL Inc. is given below. Required: Use the relationships in the balance sheep income statement, and retained earnings statement to determine the missing values.
- 16) When creating a new QuickBooks data file for an existing company, QuickBooks automatically offsets accounts receivable balances with an entry to the:A) Uncategorized Expenses accountB) Uncategorized Income accountC) Opening Balance Equity accountD) Capital Stock account Group of answer choices A B C DMarked out of 20.00P Flag questionusing the income summary account for the month ofSiren MarketingAdjusted Trial BalanceMay 31, 2022Account TitleCashDebitCredit$8, 600Accounts Receivable$2, 500Prepaid Insurance$2,700 Accounts PayableUnearned RevenueKirk, Capital$1, 200$1, 800$5, 880Kirk, Withdrawals$1,600Service Revenue$8, 620Advertising Expenselnsurance ExpenseRent Expense Total$790$450$860$17,500 $17,500No comma or dollar sign should be included in the imput icklPrepare the closing entries in the proper order. For transactions that have more than 1 debit or more than 1 deditDebitAccount Title and Explanation Date May 31Select 30 transactions of various kinds such as sales, costs (direct and indirect), revenues earned, revenue received in advance, expenses incurred, paid in advance, outstanding expenses, assets (current, non-current), liabilities (current, long term), Equity and so on.1. Record those transactions in journal,2. post them to ledger,3. Transfer the balances in trail balance,4. Prepare income statement and balance sheet.5. Follow the proper format considering IAS-1.6. Explanation: At the end, apply the concepts such as long term assets, capital or revenueincomes or expenses and their treatment involved in your above requirements Transactions of Mr. Akram travel world business Mr Akram started business with cash for rs 400,000. Paid wages rs 20,000. Paid office rent in advance 2000. Paid rs 10000 for insurance in advance. Babar and sons paid 2500 for goods on advance. Purchased office equipment on credit rs 5000. Paid 7000 for advertising expenses. Paid 3000 to accounts payable. Provided…
- A. Calculate the ending balance for each account. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Assets Liabilities Owner’s Equity Cash Inventory Equipment AccountsPayable WagesPayable CommonStock RetainedEarnings 1 $50,000 $50,000 2 (6,000) $6,000 3 $25,000 $25,000 4 1,250 $1,250 5 (750) (750) 6 600 (600) 7 $3,500 (3,500) 8 3,200 3,200 9 250 (250) 10 (1,000) 1,000 Ending Balance $ $ $ $ $ $ $ $ $ B. Create the income statement. Use minus sign to indicate the loss. Pancake Palace Income Statement For the Month Ended July 31 $ $ C. Create the statement of owner’s equity. If an amount box requires a zero, enter "0". For those boxes in which you must enter subtractive or negative numbers use a minus sign. Pancake Palace Statement of Owner's Equity…CClassify each of the following items as an Asset (A), Liability (L), or part of Owner’s Equity (OE). a. Computer Tabletb. Accounts Payablec. Accounts Receivabled. Cashe. A. Jones, CapitalBeginning Balance (BB) ? $ 8,820 $ 73,500 Ending Balance (EB) 36,260 ? 77,000 Transferred In (TI) 196,500 44,500 ? Transferred Out (TO) 194,700 48,400 183,800 For Case (A) above, what is the Beginning Balance (BB)? Multiple Choice $35,940. $38,300. $39,960. $34,460.
- Complete and correct the table of requirement 2. Abbreviations explanation: AR= account receivable Computers & AD= accumulated depreciation AP= account payable NP=Note payable IP= interest payable Cshares= common shares RE=retained earningsRequired: 1. Indicate the account, amount, and direction of the effect on above transaction. (Enter any decreases to Assets, Llabilities and Stockhoiders' Equity with a minus sign.) Required 2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "n Required" in the first account field.) Required 3. Prepare the stockholders' equity section of the balance sheet at December 31 . (Amounts to be deducted minus sign.) Please avoid solution in image format thank youInfromation for the question is in the image attached. Required 1 For items (a)-(j), analyze the transaction to determine effects on specific financial statement accounts and the overall accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign. Do not round intermediate calculations.) Assets = Liabilities + Stockholders' Equity a. [ ] [ ] [ ] [ ] [ ] [ ] b. [ ] [ ] [ ] [ ] [ ] [ ] c. [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] d. [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] e. [ ] [ ] [ ] [ ] [ ] [ ] f. [ ] [ ] [ ] [ ] [ ] [ ] g. [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ]…