Please do not give solution in image format thanku Theadjusted trial balance for Crame's Animations ispresented below.CRANE'S ANIMATIONSAdjusted Trial Balance December 31, 2024GreditCashAccounts Recievableprepaid ExpensesEquipmentAccumulated depreciation equipmentAccounts payableUnearned revenueM. Crane, Capitalм. С напе, DrawingService RevenueRent ExpensesSalaries ExpensesDepecciation ExpenssSupplies ExpensesDepreciation ExpensesDebit40004400240049000170009900250006000002,200612518375570097002205064200 MM(a) Prepare an income statement for the year.(b) prepare a statement of owner's equity for the year.Crane investment $ 5100 cash in the business duringthe year.(C) prepare a classified balance sheet at December 31, 2024

Name: Please do not give solution in image format thanku Theadjusted trial b
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Description: Please do not give solution in image format thanku Theadjusted trial balance for Crame's Animations ispresented below.CRANE'S ANIMATIONSAdjusted Trial Balance December 31, 2024GreditCashAccounts Recievableprepaid ExpensesEquipmentAccumulated deprecia

Financial Statements:Financial Statement includes income statement, Owners Equity,…

Business

Accounting

The • adjusted trial balance for Crane's Animations is presented below. CRANE'S ANIMATIONS Adjusted Trial Balance December 31, 2024 Gredit Cash Accounts Recievable prepaid Expenses Equipment Accumulated depreciation equipment Accounts payable Unearned revenue M.Crane, Capital М. Снапе, Drawing Service Revenue Rent Expenses Salaries Expenses Depriciation Expenss Supplies Expenses Depreciation Expenses Debit 4000 4400 2400 49000 17000 9900 25000 600000 2,200 6125 18375 5700 9700 22050 64200

The • adjusted trial balance for Crane's Animations is presented below. CRANE'S ANIMATIONS Adjusted Trial Balance December 31, 2024 Gredit Cash Accounts Recievable prepaid Expenses Equipment Accumulated depreciation equipment Accounts payable Unearned revenue M.Crane, Capital М. Снапе, Drawing Service Revenue Rent Expenses Salaries Expenses Depriciation Expenss Supplies Expenses Depreciation Expenses Debit 4000 4400 2400 49000 17000 9900 25000 600000 2,200 6125 18375 5700 9700 22050 64200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the trial balance, adjustments and additional information to prepare the Statement ofComprehensive Income for the year ended 28 February 2022.Liat TradersPRE-ADJUSTMENT TRIAL BALANCE AS AT 28 FEBRUARY 2022Balance sheet accounts section Debit CreditR RCapital 550 854Drawings 75 150Land and buildings 477 164Vehicles at cost 91 000Equipment at cost 67 000Accumulated depreciation on vehicles 31000Accumulated depreciation onequipment 23800Trading inventory 68 800Debtors control 45 850Provision for bad debts 1900Bank 15 560Cash float 1 250Petty cash 250Creditors control 38 860Loan: MUFG Bank (15%) 21600Nominal accounts sectionSales 498 000Cost of sales 244 000Sales returns 8 000Wages 42 500Bank charges 2 300Rent income 26000Packing materials 12 000Advertising 8 500Rates 3 000Bad debts 900Discount allowed 750Discount received 980Stationery 8 500Interest on loan 2 970Water and electricity 5 550Insurance 5 000Telephone 7 0001 192 994 1 192 994Adjustments and additional information1. A…
You are presented with the following trial balance of Carl Ltd at 31 October 2018. DrCr R,000Building at costBuildings, accumulated depreciation, 1 November 2018 Plant at costPlant, accumulated depreciation, 1 November 2018 Land at costBank balanceRevenuePurchasesDiscounts receivedReturns inwardsWagesEnergy expensesTrade PayablesTrade ReceivablesInventory at 1 November 2018Allowance for debtors at 1 November 2018 Administrative expensesDirector's remunerationAccumulated profit at 1 November 201810% DebentureDividend paidR1 Ordinary sharesShare premium accountR,000 74060 220110 23550 1,8001,1059035 180 105250 3201601080 70306503,28080 3,280130 50Additional information as at 31 October 2019.a. Closing inventory has been counted and is valued at R75,000b. An invoice of R15 000 for energy expenses for October 2019 has not been received.c. The allowance for debtors is to be increased to 5% of trade receivable.d. Buildings are depreciated at 5% per annum on their original cost, allocated 30%…
NEED ANSWER ASAP At the end of the 2021 year, the accounting staff at Prestige Design Flooring Inc. (PDF) have the followingunadjusted trial balance as at December 31, 2021.Cash 6,700Accounts Receivable 24,327Supplies 4,231Prepaid Insurance 5,700Equipment 896,000Accumulated Depreciation (Equipment) 112,600Other Assets 64,225Accounts Payable 14,327Unearned Service Revenue 16,600Note Payable (due 2026) 80,000Common Shares 289,540Retained Earnings, 12/31/2020 38,454Service Revenue 802,427Wages Expense 131,650Rent Expense 218,415Interest Expense 2,700 Total $1,353,948 $1,353,948The accounting staff have identified the following items where a year end accrual entry may be required.a. PDF purchased 12-month insurance on July 1, 2021. It is reported as prepaid insurance in the trial balanceabove.b. A physical inventory count showed that $690 of office supplies is on hand at year end.c. PDF’s equipment depreciation was $31,980 for the 2021 year.d. An analysis showed the unearned service…
Part A - Completed supplies expense 4000 supplies 4000 depreciation expense 16800 accumulated depreciation equipment 16800 interest expense 11360 interest payable 11360 PREPARE AN ADJUSTED TRIAL BALANCE Can you do the adjusted trial balance please
The adjusted trial balance for Ivanhoe Company is shown below. IVANHOE COMPANYTrial BalanceAugust 31, 2020 BeforeAdjustment AfterAdjustment Dr. Cr. Dr. Cr. Cash $10,300 $10,300 Accounts Receivable 8,900 9,600 Supplies 2,300 500 Prepaid Insurance 3,800 2,700 Equipment 12,500 12,500 Accumulated Depreciation-Equipment $ 3,700 $ 4,500 Accounts Payable 5,900 5,900 Salaries and Wages Payable 0 1,100 Unearned Rent Revenue 1,600 700 Owner’s Capital 13,500 13,500 Service Revenue 34,200 34,900 Rent Revenue 10,800 11,700 Salaries and Wages Expense 17,000 18,100 Supplies Expense 0 1,800 Rent Expense 14,900 14,900 Insurance Expense 0 1,100 Depreciation Expense 0 800 $69,700 $69,700…
Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. Depreciation for the current year includes Equipment, $600. The Accumulated Depreciation - Equipment unadjusted balance as of December 31 is $6,300.
1. The financial year of Shah Enterprise ended on 31 December 2019. Show the ledger account for the following items including the balance transferred to the necessary part of the financial statements.a) Rent expenses: Paid RM700 in 2019; owed RM30 as at 31 December 2019b) Insurance expenses: Paid RM500 in 2019; prepaid as at 31 December 2019 wasRM40c) Commission received: Received RM650 in 2019; amount accrued as 31 December2019 was RM100d) Rent received: Received RM400 in 2019; amount received in advance as at 31December 2019 was RM100 2. The following balances were extracted from the ledger of CTSha Trading as at 31 October 2019. DEBIT (RM) CREDIT (RM) Insurance 12,000 Water and electricity 4,800 Wages and salaries 16,000 Rental income 9,900 Interest income 6,000 Prepaid insurance as at 1 Nov 2018 1,500 Accrued wages and salaries as at 1 Nov 2018 2,000 Accrued rental income as at 1 Nov 2018 1,800 The following adjustment were to be…
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. Post-closing trial balance include all of the following account, except a. assetb. liabilitiesc. capitald. withdrawal 2. Which adjusting journal entries are subject to reversing entries? a. Accrual of incomeb. Deferral of income – liability methodc. Deferral of expense – asset methodd. Depreciation expense 3. On column 7 and 8 of worksheet or the Income Statement columns, what is the financial performance if debit is greater than credit? a. Breakevenb. Net Incomec. Net Lossd. Gross Income 4. On column 9 and 10 of worksheet or the Balance Sheet columns, what is the difference if debit is greater than credit? a. Breakevenb. Net Incomec. Net Lossd. Gross Income
at the end of the accounting period(sept 30th, T account after AJE), what is the balance of accumulated depreciation costumes? use accural accounting multiple choice: a) $25 Neutral Balance, b) $0, c) $25 debit balance, d) $25 credit balance, e) none of the other alternatives are correct
Prepare an adjusted trial balance on August 31, 2023. Date Account Debit Credit 31-Aug Prepaid Insurance 900 Insurance Expense 900 31-Aug Supplies Expense 350 Supplies 350 31-Aug Depreciation Expense 1,500 Accumulated Depreciation-Building 1,500 31-Aug Depreciation Expense 500 Accumulated Depreciation-Furniture 500 31-Aug Depreciation Expense 1,000 Accumulated Depreciation-Equipment 1,000 31-Aug Interest Expense 250 Interest Payabl 250 31-Aug Unearned Commission Revenue 750 Earned Commission Revenue 750 31-Aug Unearned Subscription Revenue 2,000 Earned Subsciption Revenue 2,000 31-Aug Salaries Expense 325 Salaries Payable 325
6. Raon Electronics Company The adjusted trial balance of Raon Electronics Company as of 30 September 2018 is given below. Prepare the SFP using report form and the SCI using the single-step format. RAON Electronics Company Trial Balance - Adjusted30 September 2018Account Debit Credit Cash ₱21 700Accounts Receivable 4 200Supplies 1 800Prepaid Insurance 6 300Land 43 500Buildings 132 000Accumulated Depreciation – Building ₱25 000Accounts Payable 3 700Notes Payable 10 300Salaries Payable 2 500Property Taxes Payable 4 100Unearned Revenue 2 600Loans Payable(due in 4 years) 100 000Mr. L, Capital ?Service Revenue 78 600Wages Expense 14 800Utilities Expense 4 600Property Tax Expense 3 500Insurance Expense 6 700Supplies Expense 5 100Depreciation Expense 8 800Interest Expense 13 200Miscellaneous Expense 1 200Total ₱267 400 ₱267 400For Mr. L, Capital squeeze in the figure, i.e total credits ₱267 400 less total accumulated depreciation down to service revenue.Instructions: How much will be the…