Nadia Company Adjusted Trial Balance December 31,2015 Cash 5,130 Accounts Receivable 3,300 Prepaid Expenses 550 12,400 Equipment Accumulated Depreciation 2,200 Accounts Payable 700 Notes Payable-Due on June 30, 2016 Nadia Porter, Capital 4,000 13,000 Nadia Porter, Drawing 700 Fees Earned 9,930 2,450 Wages Expense Rent Expense 1,900 Utilities Expense 1,475 Depreciation Expanse 1,150 Miscellaneous Expense 775 29,830 29,830 Totals Nadia Company Statement of Owner's Equity For the Month Ended December 31, 2015
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- Title Verne Cova Company has the following balances in selected accounts on December 31, 2014.Accounts Rec Description Verne Cova Company has the following balances in selected accounts on December 31, 2014.Accounts Receivable$ 0Accumulated DepreciationâEquipment0Equipment6,606Interest Payable0Notes Payable10,213Prepaid Insurance2,220Salaries and Wages Payable0Supplies2,318Unearned Service Revenue41,421All the accounts have normal balances. The information below has been gathered at December 31, 2014.1.Verne Cova Company borrowed $9,950 by signing a 12%, one-year note on September 1, 2014.2.A count of supplies on December 31, 2014, indicates that supplies of $881 are on hand.3.Depreciation on the equipment for 2014 is $1,942.4.Verne Cova Company paid $2,220 for 12 months of insurance coverage on June 1, 2014.5.On December 1, 2014, Verne Cova collected $28,400 for consulting services to be performed from December 1, 2014, through March 31, 2015.6.Verne Cova performed…Question no 1 Peakhurst Limited had the following trial balance at 1 January 2016: Debit $ Credit $Cash 200 000Accounts receivable 600 000 Inventory 700 000Prepaid insurance 60 000Prepaid rent 50 000 Equipment 1 000 000Allowance for doubtful debt 20 000Accumulated depreciation 200 000Accounts payable 500 000 Revenue received in advance 100 000 Income tax payable 500 000Loan…Exercise 4. Selected account balance before adjustments for Kiss Me Again Company on December 31, 2020 are as follows: Debit CreditAccounts Receivable P84,625Supplies 11,375Equipment 215,000Module 4 10- NABAccumulated Depreciation P34,450Wages payable 0Unearned fees 23,500Fees earned 348,975Wages expense 79,700Rent expense 48,000Depreciation Expense 0Supplies expense 0The data needed for year-end adjustments are as follows:a. Fees earned but not yet collected on December 31, P31,575.b. Supplies on hand on December 31, P2,785c. Rent expired during the year, P36,000d. Depreciation for equipment during the year, P5,000e. Wages accrued but unpaid on December 31, P13,800f. Accounts receivable of P10,000 is doubtful of being collected.Date Description PR Debit Credit
- The adjusted trial balance of Ryan Financial Planners appears below. RYAN FINANCIAL PLANNERSAdjusted Trial BalanceDecember 31, 2022 Debit Credit Cash € 5,200 Accounts Receivable 2,200 Supplies 1,800 Equipment 15,000 Accumulated Depreciation—Equipment € 4,000 Accounts Payable 3,800 Unearned Service Revenue 5,000 Share Capital–Ordinary 10,000 Retained Earnings 4,400 Dividends 2,500 Service Revenue 4,500 Supplies Expense 600 Depreciation Expense 2,500 Rent Expense 1,900 €31,700 €31,700 Using the information from the adjusted trial balance, you are to prepare for the month ending December 31: RYAN FINANCIAL PLANNERSIncome Statementchoose the accounting period…The adjusted trial balance of Ryan Financial Planners appears below. RYAN FINANCIAL PLANNERSAdjusted Trial BalanceDecember 31, 2022 Debit Credit Cash € 5,200 Accounts Receivable 2,200 Supplies 1,800 Equipment 15,000 Accumulated Depreciation—Equipment € 4,000 Accounts Payable 3,800 Unearned Service Revenue 5,000 Share Capital–Ordinary 10,000 Retained Earnings 4,400 Dividends 2,500 Service Revenue 4,500 Supplies Expense 600 Depreciation Expense 2,500 Rent Expense 1,900 €31,700 €31,700 A retained earnings statement. RYAN FINANCIAL PLANNERSRetained Earnings Statementchoose the accounting period select an opening name € enter an euro amount select between…Magic Styles, Inc.Unadjusted Trial BalanceAt March 31, 2023Cash $ 18,000.00Prepaid Insurance $ 600.00Prepaid Rent $ 7,300.00Equipment $ 9,700.00Furniture and Fixtures $ 9,700.00Accounts Payable $ 10,800.00Deferred Revenue $ 400.00Notes Payable Long-term) $ 20,000.00Common Stock $ 10,000.00Retained Earnings, February 28, 2023 $ 2,100.00Dividends $ 300.00Service Revenue $ 12,300.00Supplies Expense $ 5,500.00Salaries and Wages $ 3,200.00Utilities Expense $ 700.00Rent Expense $ 600.00TOTAL $ 55,600.00 $ 55,600.00Required:Based on the unadjusted trial balance of Magic Styles, Inc. above, you are required to prepare/write thefollowing:1) An income statement 2) A statement of retained earnings 3) Balance Sheet 4) A paragraph stating your evaluation of the company’s performance and financial status for themonth ending March 31, 2023. In your evaluation, state whether:* the business is profitable;* it is able to pay its current obligations/liabilities; and* its assets are financed more by debts…
- Marked 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 31Rajin Singh Trial Balance as at 31 May 2020 Dr. Cr. Sales - 429,192 Purchases 215,352 - Equipment 324,000 - Motor Vehicle 162,000 - Depreciation expense 31,185 - Provision for depreciation - Equipment - 122,850 Provision for depreciation - Motor Vehicle - 54,000 Opening stock 42,255 - Returns in 1,755 - Returns out - 648 Accounts payables - 68,661 Accounts receivables 77,220 - Bad debts expense 2,835 - Bank 55,188 - Cash 20,250 - Carriage in 3,915 - Carriage out 3,645 - Discounts allowed 4,941 - Discounts received - 3,240 Capital - 318,087 Drawings 33,750 - Rent 64,800 - Insurance 9,018 - Interest expense 11,151 - Loan - 81,000 Provision for bad debts - 2,322 Telephone 8,910 - Water rates 7,830 - 1,080,000 1,080,000 Stock at 31 May 2020 was $41,100 You are required to prepare the financial statements (Income Statement and Balance Sheet) for the year ended 31 May 20203. 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…
- asap!! please asap!! The following information relates to the business of Maria & Co for the year ended 31 Dec 2020. Particulars Debit Credit Rs.(000) Rs.(000) Capital account 1 Jan 2020 13,640 Building at cost 7,500 Furniture at cost 2,000 Motor cars at cost 6,300 Accumulated depreciation- Motors cars 2,370 Accumulated depreciation-Furniture 800 Accumulated depreciation –Building 450 Inventory 1 Jan 2020 6,740 Purchases…SHERIDAN COMPANYWorksheet (partial)For the Month Ended April 30, 2020 Adjusted Trial Balance Account Titles Dr. Cr. Cash 12,000 Accounts Receivable 7,500 Prepaid Rent 2,200 Equipment 22,800 Accumulated Depreciation—Equip. 5,100 Notes Payable 5,800 Accounts Payable 5,000 Owner’s Capital 29,440 Owner’s Drawings 3,800 Service Revenue 15,100 Salaries and Wages Expense 10,700 Rent Expense 700 Depreciation Expense 740 Interest Expense 40 Interest Payable 40 Totals 60,480 60,480If answered within 30mins,it would be appreciable!!! Q3. XYZ Company has the following financial data: Particulars Amounts (SAR) Total Profit for the Year 377,500 General Takaful Assets (Year 2014) 1,390,000 General Takaful Assets (Year 2015) 1,517,500 Cash 11,500 Short-term Investment 23,500 Short term liabilities 85,000 Underwriting Surplus Distributable to Participants/Participants' Share of Profit 145,500 Gross Contribution 958,000 Net Contribution 662,500 Wakalah Fee 77,500 Commission Paid 28,300 Management Expense 58,000 Net Claim Incurred 287,500 Earned Contribution 632,500 You are required to calculate: Return on Assets Quick Liquidity Surplus Distribution Ratio Expense Ratio Claims Ratio This all question nothing more
