Interest earned Depreciation expense-Trucks Depreciation expense-Equipment Salaries expense Wages expense 34000 29,000 48,000 74000 300 000 Interest expense Office supplies expense Advertising expense Repairs expense-Trucks Totals. 609 $1.5 530.800 quired 2 the information in the adjusted trial balance to prepare (a) the income statement for the year ended cember 31; (b) the statement of retained earnings for the year ended December 31 [Note: Retained rnings at Dec. 31 of the prior year was $110,000]; and (c) the balance sheet as of December 31. July 1, Lula Plume created a new self-storage business, Safe Storage Co. The following transactions curred during the company's first month. Plume invested $30,000 cash and buildings worth S150,000 in the company in exchange for ly common stock. 2 The company rented equipment by paying $2,000 cash for the first month's (July) rent. The company purchased $2,400 of office supplies for cash. 10 The company paid $7,200 cash for the premium on a 12-month insurance policy. Coverage begins on July 11. 14 The company paid an employee $1,000 cash for two weeks' salary earned. 24 The company collected $9,800 cash for storage fees from customers. The company paid $1,000 cash for two weeks' salary earned by 29 employee. 28 al The company paid $950 cash for minor repairs to a leaking roof. 30 The company paid $400 cash for this month's telephone bill. The company paid $2,000 cash in dividends. 31 he company's chart of accounts follows. 307 Common Stock 640 Rent Expense 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 173 Buildings 174 Accumulated Depreciation-Buildings 318 Retained Earnings 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 319 Dividends 401 Storage Fees Earned 606 Depreciation Expense-Buildings 622 Salaries Expense 637 Insurance Expense 209 Salaries Payable December bolance (8) Postcng totals, $85,110 19. GENERAL the financial statements as of a itrial balance. Using transactions the impact each adjust- LEDGER PROBLEM connect Chapter 3 Adjusting Accounts foer Financial St Required EX 1. Use the balance column format to set up each ledger account listed in its chart of accounts. 2. Prepare journal entries to record the transactions for July and post them to the ledger accounts prepaid and unearned items in balance sheet accounts. 3. Prepare an unadjusted trial balance as of July 31. 4. Use the following information to journalize and post adjusting entries for the month: a. Prepaid insurance of $400 has expired this month. b. At the end of the month, $1,525 of office supplies are still available. c. This month's depreciation d. An employee earned $100 of unpaid and unrecorded salary as of month-end. e. The company earned $1,150 of storage fees that are not yet billed at month-end. 5. Prepare the adjusted trial balance as of July 31. Prepare the income statement and the staten retained earnings for the month of July and the balance sheet at July 31. 6. Prepare journal entries to close the temporary accounts and post these entries to the ledger. on the buildings is $1,500. 7. Prepare a post-closing trial balance. The adjusted trial balance for Anara Co. as of December 31, 2019, follows. P. Anara invested $ cash in the business in exchange for common stock during year 2019. The December 31, 2018, cred ance of the Retained Earnings account was $52,800. Adjusted Trial Balance December 31, 2019 Account Title No. Debit Credit Cash 101 $ 7.400 Short-term investments 104 11,200 4,600 1,000 24,000 Supplies Prepaid insurance Equipment.. Accumulated depreciation-Equipment 126 128 167 168 Building Accumulated depreciation-Building 173 $ 4,000 100,000 174 183 Land 10,000 Accounts payable Interest payable Rent payable. Wages payable 30,500 201 203 3,500 208 1,750 210 400 Pronerty navable
Interest earned Depreciation expense-Trucks Depreciation expense-Equipment Salaries expense Wages expense 34000 29,000 48,000 74000 300 000 Interest expense Office supplies expense Advertising expense Repairs expense-Trucks Totals. 609 $1.5 530.800 quired 2 the information in the adjusted trial balance to prepare (a) the income statement for the year ended cember 31; (b) the statement of retained earnings for the year ended December 31 [Note: Retained rnings at Dec. 31 of the prior year was $110,000]; and (c) the balance sheet as of December 31. July 1, Lula Plume created a new self-storage business, Safe Storage Co. The following transactions curred during the company's first month. Plume invested $30,000 cash and buildings worth S150,000 in the company in exchange for ly common stock. 2 The company rented equipment by paying $2,000 cash for the first month's (July) rent. The company purchased $2,400 of office supplies for cash. 10 The company paid $7,200 cash for the premium on a 12-month insurance policy. Coverage begins on July 11. 14 The company paid an employee $1,000 cash for two weeks' salary earned. 24 The company collected $9,800 cash for storage fees from customers. The company paid $1,000 cash for two weeks' salary earned by 29 employee. 28 al The company paid $950 cash for minor repairs to a leaking roof. 30 The company paid $400 cash for this month's telephone bill. The company paid $2,000 cash in dividends. 31 he company's chart of accounts follows. 307 Common Stock 640 Rent Expense 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 173 Buildings 174 Accumulated Depreciation-Buildings 318 Retained Earnings 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 319 Dividends 401 Storage Fees Earned 606 Depreciation Expense-Buildings 622 Salaries Expense 637 Insurance Expense 209 Salaries Payable December bolance (8) Postcng totals, $85,110 19. GENERAL the financial statements as of a itrial balance. Using transactions the impact each adjust- LEDGER PROBLEM connect Chapter 3 Adjusting Accounts foer Financial St Required EX 1. Use the balance column format to set up each ledger account listed in its chart of accounts. 2. Prepare journal entries to record the transactions for July and post them to the ledger accounts prepaid and unearned items in balance sheet accounts. 3. Prepare an unadjusted trial balance as of July 31. 4. Use the following information to journalize and post adjusting entries for the month: a. Prepaid insurance of $400 has expired this month. b. At the end of the month, $1,525 of office supplies are still available. c. This month's depreciation d. An employee earned $100 of unpaid and unrecorded salary as of month-end. e. The company earned $1,150 of storage fees that are not yet billed at month-end. 5. Prepare the adjusted trial balance as of July 31. Prepare the income statement and the staten retained earnings for the month of July and the balance sheet at July 31. 6. Prepare journal entries to close the temporary accounts and post these entries to the ledger. on the buildings is $1,500. 7. Prepare a post-closing trial balance. The adjusted trial balance for Anara Co. as of December 31, 2019, follows. P. Anara invested $ cash in the business in exchange for common stock during year 2019. The December 31, 2018, cred ance of the Retained Earnings account was $52,800. Adjusted Trial Balance December 31, 2019 Account Title No. Debit Credit Cash 101 $ 7.400 Short-term investments 104 11,200 4,600 1,000 24,000 Supplies Prepaid insurance Equipment.. Accumulated depreciation-Equipment 126 128 167 168 Building Accumulated depreciation-Building 173 $ 4,000 100,000 174 183 Land 10,000 Accounts payable Interest payable Rent payable. Wages payable 30,500 201 203 3,500 208 1,750 210 400 Pronerty navable
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
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 10E: Spreadsheet The following 2019 information is available for Payne Company: Partial additional...
Related questions
Question
im struggling with the my adjusted
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Expert Answers to Latest Homework Questions
Q: Which of the following sentences are true?
Select two or more:
Climate change refers to…
Q: Draw the peptide Glycine-Alanine-Serine-Cysteine-Isoleucine-Glutamic acid Tryptophan-Valine. Circle…
Q: Draw estrogen and testosterone. Number the positions of the core steroid nucleus
NO AI
Q: Draw a triacylglycerol with 12 carbon chains that are monounsaturated (you can choose the site of…
Q: What are the observed and projected changes in the climate system?
Select two or more:
Due to…
Q: Which one of the following sentences is NOT true?
Select one:
Compared with other land-based…
Q: The adaptation planning process draws on broad principles of the ecosystem approach to fisheries…
Q: termining Net Income from Net Cash Flow from Operating Activities
Determining net income from net…
Q: What types of early adaptation measures should be prioritized in national adaptation plans or…
Q: About adaptation plans, which of the following sentences are NOT true?
Select two or more:
In…
Q: About the adaptation toolbox, which one of the following sentences is NOT true?
Select one:…
Q: Which one of the following measures CANNOT mitigate emissions of greenhouse gases in aquaculture?…
Q: Example
F(s) =
find the inverse Fourier transform:
6(s + 10)
(s + 5)(s+8)
Q: Pls answer the following questions to the best of your ability
Q: A project will produce an operating cash flow of $9,000 a year for 8 years. The initial
fixed asset…
Q: Pls answer the following
Q: The adaptation planning process starts with a stakeholder meeting. Which one is NOT a purpose of…
Q: Which one of the following measures can mitigate emissions of greenhouse gases in capture fisheries?…
Q: Which one of the following measures can mitigate emissions of greenhouse gases in capture fisheries?…
Q: About adaptation planning, which of the following sentences are true?
Select two or more:
An…
Q: K Corporation Inc. owns a restaurant business that it carries on in rented premises. The lease was…