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The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 31, 2023: Debit $ 8,400 16,600 10,400 4.400 Account 101 Cash 119 Merchandise inventory 125 Supplies 128 Prepaid insurance Credit

The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 31, 2023: Debit $ 8,400 16,600 10,400 4.400 Account 101 Cash 119 Merchandise inventory 125 Supplies 128 Prepaid insurance Credit

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 13PB: Following is the adjusted trial balance data for Garage Parts Unlimited as of December 31, 2019. A....
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please dear expert need answer for all requirements with calculation, explanation , formulation with steps for better understanding answer in text not image please show calculation how you get the numbers please double underline answer all download image to see clearly

1. classified multiple-step income statement that would used by the business owner
2. prepare a multiple-step income statement that would be used by external users
3. prepare a single-step income statement that would be provided to decision makers outside the company
4. analysis component
 

 

The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 31, 2023: Account Credit 101 Cash 119 Merchandise inventory 125 Supplies 128 Prepaid insurance 165 Store equipment 166 Accumulated depreciation, store equipment 167 office equipment 168 Accumulated depreciation, office equipment 201 Accounts payable 301 Jonah Bell, capital 302 Jonah Bell, withdrawals 413 Sales 415 Sales discounts 505 Cost of goods sold 612 Depreciation expense, store equipment 613 Depreciation expense, office equipment 622 Sales salaries expense 623 office salaries expense 637 Insurance expense, store Insurance expense, office 638 640 641 Rent expense, office space Rent expense, selling space 651 office supplies expense Store supplies expense 655 Advertising expense 652 Totals Debit $ 8,400 16,600 10,400 4,400 51,400 69,400 41,400 2,400 75,200 5,600 4,200 46,400 32,400 2,400 1,800 13,400 17,400 $ 47,200 34,600 16,400 31,240 295,800 1,240 2,800 18,000 $425,240 $425,240
Transcribed Image Text:The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 31, 2023: Account Credit 101 Cash 119 Merchandise inventory 125 Supplies 128 Prepaid insurance 165 Store equipment 166 Accumulated depreciation, store equipment 167 office equipment 168 Accumulated depreciation, office equipment 201 Accounts payable 301 Jonah Bell, capital 302 Jonah Bell, withdrawals 413 Sales 415 Sales discounts 505 Cost of goods sold 612 Depreciation expense, store equipment 613 Depreciation expense, office equipment 622 Sales salaries expense 623 office salaries expense 637 Insurance expense, store Insurance expense, office 638 640 641 Rent expense, office space Rent expense, selling space 651 office supplies expense Store supplies expense 655 Advertising expense 652 Totals Debit $ 8,400 16,600 10,400 4,400 51,400 69,400 41,400 2,400 75,200 5,600 4,200 46,400 32,400 2,400 1,800 13,400 17,400 $ 47,200 34,600 16,400 31,240 295,800 1,240 2,800 18,000 $425,240 $425,240
On November 1, 2022, the account balances of Pharoah Equipment Repair were as follows. No. 101 112 126 Supplies 153 Nov. 8 10 12 15 17 20 22 25 27 Cash Accounts Receivable 29 Debit Equipment During November, the following summary transactions were completed. $ 2,400 154 4,200 201 1,810. No. 12,960 $21,370 209 212 301 Credit Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Owner's Capital Paid $1,740 for salaries due employees, of which $662 is for October salaries. Received $3,430 cash from customers on account. Received $3,110 cash for services performed in November. Purchased equipment on account $1,970. Purchased supplies on account $710. Paid creditors on account $2,680. Paid November rent $360. Paid salaries $1,740. Performed services on account and billed customers $1,910 for these services. Received $640 from customers for future service. $2,160 2,650 1,200 662 14,698 $21,370
Transcribed Image Text:On November 1, 2022, the account balances of Pharoah Equipment Repair were as follows. No. 101 112 126 Supplies 153 Nov. 8 10 12 15 17 20 22 25 27 Cash Accounts Receivable 29 Debit Equipment During November, the following summary transactions were completed. $ 2,400 154 4,200 201 1,810. No. 12,960 $21,370 209 212 301 Credit Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Owner's Capital Paid $1,740 for salaries due employees, of which $662 is for October salaries. Received $3,430 cash from customers on account. Received $3,110 cash for services performed in November. Purchased equipment on account $1,970. Purchased supplies on account $710. Paid creditors on account $2,680. Paid November rent $360. Paid salaries $1,740. Performed services on account and billed customers $1,910 for these services. Received $640 from customers for future service. $2,160 2,650 1,200 662 14,698 $21,370
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