The following adjusted TRIAL Balance is given for ACAR Photography.ACAR PhotographyAdjusted TRIAL BALANCEDec., 31, 2018AccountsDebitCreditCashAccounts receivable30.00060.00015.000SuppliesNotes Receivable6.400Land80.000BuildingAccumulated Depreciation- BuildingEquipmentAccumulated Depreciation-EquipmentAccounts PayableSalaries Payable320.00042.000150.00017.00024.0004.000Unearned Service Revenue50.000Notes PayableCapital, ACARWithdrawalsService RevenueSalaries ExpenseDepreciation Expense| Supplies ExpenseRent ExpenseUtilities Expense200.00024.58046.000578.000122.00012.30028.08028.00041.800939.580939.580Requirement:Make closing entriesa. Income Statement for the periodb. Balance Sheet at Dec.31, 2016 ._and prepare the following Financial Statements;

Name: The following adjusted TRIAL Balance is given for ACAR Photography.AC
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Description: The following adjusted TRIAL Balance is given for ACAR Photography.ACAR PhotographyAdjusted TRIAL BALANCEDec., 31, 2018AccountsDebitCreditCashAccounts receivable30.00060.00015.000SuppliesNotes Receivable6.400Land80.000BuildingAccumulated Depreciatio

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The following adjusted TRIAL Balance is given for ACAR Photography. ACAR Photography Adjusted TRIAL BALANCE Dec., 31, 2018 Accounts Debit Credit Cash Accounts receivable Supplies Notes Receivable 30.000 60.000 15.000 6.400 Land 80.000 Building Accumulated Depreciation- Building 320.000 42.000

The following adjusted TRIAL Balance is given for ACAR Photography. ACAR Photography Adjusted TRIAL BALANCE Dec., 31, 2018 Accounts Debit Credit Cash Accounts receivable Supplies Notes Receivable 30.000 60.000 15.000 6.400 Land 80.000 Building Accumulated Depreciation- Building 320.000 42.000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 11EA: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...

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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%…
The following trial balance was extracted from the ledger of Juliana at 31 December 2020.JulianaTrial Balance as at 31 December 2020RMRMLand at cost26,000Plant at cost83,000Accumulated Depreciation at 1 January 2020- Plant13,000Office Equipment33,000Accumulated Depreciation at 1 January 2020Office Equipment8,000Receivables198,000Payables52,000Sales763,000Purchases516,000Returns inwards47,000Discount allowed4,000Capital at 1st January 2020230,000Drawings14,000Provision for doubtful debts at 1 January 202023,000Salaries Expense44,000Administration costs38,000Bank75,000Bad debts written off77,000Inventory at 1 January 202084,0001,164,0001,164,000Additional information: Closing inventory is RM74,000. Depreciation on plant is charged at 10% per annum on cost. Depreciation on office equipment is charged at 20% per annum using the reducing balance method. Administration costs include insurance prepaid of RM3,000. Salary accrued amount to RM2,000. The allowance for receivables is to…
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The balance of accumulated depreciation in Entity A’s unadjusted trial balance is P100,000. If the adjustments columns in the worksheet show a debit adjustment of P20,000, how much is the balance of accumulated depreciation that is extended to the adjusted trial balance columns of the worksheet?
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