The partial spreadsheet of Brady, Inc. is as follows: Brady, Inc. End-of-Period Spreadsheet For the Year Ended December 31, 2018 Unadjusted Trial Adjustments Adjusted Trial Balance Balance Dr. Account Title Cr. Dr. Cr. Cr. Dr. Cash 1,200 Accounts Receivable 2,500 (a) 500 Supplies 600 (b) 100 Prepaid Insurance 800 (c) 20 What are the balances of each account? O a. Cash, 1,200 Dr; Accounts Receivable, 2,500 Dr; Supplies, 500 Cr; Prepaid Insurance, 820 Dr O b. Cash, 1,200 Cr; Accounts Receivable, 3,000 Cr; Supplies, 700 Dr; Prepaid Insurance, 820 Cr O c. Cash, 1,200 Dr; Accounts Receivable, 3,000 Dr; Supplies, 500 Dr; Prepaid Insurance, 780 Dr 1.300 Cr Accounts Receivable, 2,000 Cr; Supplies, 700 Cr; Prepaid Insurance, 780 Cr Od Cash

The partial spreadsheet of Brady, Inc. is as follows: Brady, Inc. End-of-Period Spreadsheet For the Year Ended December 31, 2018 Unadjusted Trial Adjustments Adjusted Trial Balance Balance Dr. Account Title Cr. Dr. Cr. Cr. Dr. Cash 1,200 Accounts Receivable 2,500 (a) 500 Supplies 600 (b) 100 Prepaid Insurance 800 (c) 20 What are the balances of each account? O a. Cash, 1,200 Dr; Accounts Receivable, 2,500 Dr; Supplies, 500 Cr; Prepaid Insurance, 820 Dr O b. Cash, 1,200 Cr; Accounts Receivable, 3,000 Cr; Supplies, 700 Dr; Prepaid Insurance, 820 Cr O c. Cash, 1,200 Dr; Accounts Receivable, 3,000 Dr; Supplies, 500 Dr; Prepaid Insurance, 780 Dr 1.300 Cr Accounts Receivable, 2,000 Cr; Supplies, 700 Cr; Prepaid Insurance, 780 Cr Od Cash

Name: The partial spreadsheet of Brady, Inc. is as follows:Brady, Inc.End-o
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: The partial spreadsheet of Brady, Inc. is as follows:Brady, Inc.End-of-Period SpreadsheetFor the Year Ended December 31, 2018Unadjusted TrialBalanceAdjustmentsAdjusted Trial BalanceAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Cash1,200Accounts Receivable2,500(a)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 16PB: Prepare an adjusted trial balance from the following account information, and also considering the...

See similar textbooks

Similar questions

Balance Sheet without Amounts The following is an alphabetical list of all of While Limnology Companys adjusted trial balance accounts as of December 31, 2019: Required: Prepare White Limnologys balance sheet (without amounts) in proper format.
Prepare an adjusted trial balance from the following account information, and also considering the adjustment data provided (assume accounts have normal balances). Adjustments needed: Accrued interest revenue on investments at period end, $2,200 Insurance still unexpired at end of the period, $12,000
Adjustment process and financial statements Adjustment data for Ms. Ellen’s Laundry Inc. for the year ended December 31, 20Y8. are as follows: a. Wages accrued but not paid at December 31. $2150 h. Depreciation of equipment during the year. $12500 c. Laundry supplies on hand at December 31. $1,500 d. Insurance premiums expired. $4600 Instructions 1. Using the following integrated financial statement framework, record each adjustment to the appropriate accounts, identifying each adjustment by its letter. After all adjustments are recorded, determine the balances.
The following is the adjusted trial balance data for Elm Connections as of December 31, 2019. A. Use the data provided to compute net sales for 2019. B. Compute the gross margin for 2019. C. Compute the gross profit margin ratio (rounded to nearest hundredth) D. Prepare a simple income statement for the year ended December 31, 2019. E. Prepare a multi-step income statement for the year ended December 31, 2019.
The adjusted trial balance columns in the worksheet of Elliot Painting Services are as follows.ELLIOT PAINTING SERVICESWorksheet (Partial)for the year ended 30 June 2019Adjusted trial balance Income statement Balance sheetAccount Debit Credit Debit Credit Debit CreditCash at Bank 1 230Accounts Receivable 75 600Prepaid Rent 1 800Office Supplies 8 320Equipment 160 000Accum. Depr. Equip’t 25 000Accounts Payable 54 000Salaries Payable 8 760Unearned Revenue 3 430F. Elliot, Capital 101 500F. Elliot, Drawings 22 000Painting Revenue 219 650Salaries Expense 106 000Rent Expense 6 050Depreciation Expense 8 040Telephone Expense 4 020Office Supplies Used 10 080Sundry Expenses 9 200$412 340 $412 340Profit for the periodRequired:a) Complete the worksheet. (6 marks)b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of theentity’s accounting period. (4 marks)
The adjusted trial balance columns in the worksheet of Elliot Painting Services are as follows.ELLIOT PAINTING SERVICESWorksheet (Partial)for the year ended 30 June 2019Adjusted trial balance Income statement Balance sheetAccount Debit Credit Debit Credit Debit CreditCash at Bank 1 230Accounts Receivable 75 600Prepaid Rent 1 800Office Supplies 8 320Equipment 160 000Accum. Depr. Equip’t 25 000Accounts Payable 54 000Salaries Payable 8 760Unearned Revenue 3 430F. Elliot, Capital 101 500F. Elliot, Drawings 22 000Painting Revenue 219 650Salaries Expense 106 000Rent Expense 6 050Depreciation Expense 8 040Telephone Expense 4 020Office Supplies Used 10 080Sundry Expenses 9 200Profit for the period_ debit is $412340 and credit is $412340Required:a) Complete the worksheet. b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of the entity’s accounting period.
The adjusted trial balance columns in the worksheet of Elliot Painting Services are as follows.ELLIOT PAINTING SERVICESWorksheet (Partial)for the year ended 30 June 2019Adjusted trial balance Income statement Balance sheetAccount Debit Credit Debit Credit Debit CreditCash at Bank 1 230Accounts Receivable 75 600Prepaid Rent 1 800Office Supplies 8 320Equipment 160 000Accum. Depr. Equip’t 25 000Accounts Payable 54 000Salaries Payable 8 760Unearned Revenue 3 430F. Elliot, Capital 101 500F. Elliot, Drawings 22 000Painting Revenue 219 650Salaries Expense 106 000Rent Expense 6 050Depreciation Expense 8 040Telephone Expense 4 020Office Supplies Used 10 080Sundry Expenses 9 200$412 340 $412 340Profit for the periodRequired:a) Complete the worksheet.b) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of theentity’s accounting period.
The adjusted trial balance columns in the worksheet of Elliot Painting Services are as follows.ELLIOT PAINTING SERVICESWorksheetfor the year ended 30 June 2019Adjusted trial balance Account Cash at Bank 1 230Accounts Receivable 75 600Prepaid Rent 1 800Office Supplies 8 320Equipment 160 000Accum. Depr. Equip’t 25 000Accounts Payable 54 000Salaries Payable 8 760Unearned Revenue 3 430F. Elliot, Capital 101 500F. Elliot, Drawings 22 000Painting Revenue 219 650Salaries Expense 106 000Rent Expense 6 050Depreciation Expense 8 040Telephone Expense 4 020Office Supplies Used 10 080Sundry Expenses 9 200Required:a) Prepare Income Statement and Balance Sheetb) Prepare the closing entries necessary at 30 June 2019, assuming that this date is the end of theentity’s accounting period.
Beacon Signals Company maintains and repairs warning lights, such as Beacon Signals Company prepared the following end-of period spreadsheet at December 31, 2019, the end of the fiscal year:Beacon Signals CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31, 2019Unadjusted Trial Balance Adjustments Adjusted Trial BalanceAccount Title Dr. Cr. Dr. Cr. Dr. Cr.Cash 13,000.00 13,000.00Accounts Receivable 40,500.00 (a) 12,500.00 53,000.00Prepaid Insurance 4,200.00 (b) 3,000.00 1,200.00Supplies 3,000.00 (c) 2,250.00 750.00Land 98,000.00 98,000.00Building 500,000.00 500,000.00Accumulated Depreciation-Building 255,300.00 (d) 9,000.00 264,300.00Equipment 121,900.00 121,900.00Accumulated Depreciation-Equipment 100,100.00 (e) 4,500.00 104,600.00Accounts Payable 15,700.00 15,700.00Salaries and Wages Payable (f) 4,900.00 4,900.00Unearned Rent 2,100.00 (g) 1,300.00 800.00Sarah Colin, Capital 238,100.00 238,100.00Sarah Colin, Drawing 10,000.00 10,000.00Fees Earned 388,700.00 (a) 12,500.00…
Beacon Signals Company maintains and repairs warning lights, such as Beacon Signals Company prepared the following end-of period spreadsheet at December 31, 2019, the end of the fiscal year:Beacon Signals CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31, 2019Unadjusted Trial Balance Adjustments Adjusted Trial BalanceAccount Title Dr. Cr. Dr. Cr. Dr. Cr.Cash 13,000.00 13,000.00Accounts Receivable 40,500.00 (a) 12,500.00 53,000.00Prepaid Insurance 4,200.00 (b) 3,000.00 1,200.00Supplies 3,000.00 (c) 2,250.00 750.00Land 98,000.00 98,000.00Building 500,000.00 500,000.00Accumulated Depreciation-Building 255,300.00 (d) 9,000.00 264,300.00Equipment 121,900.00 121,900.00Accumulated Depreciation-Equipment 100,100.00 (e) 4,500.00 104,600.00Accounts Payable 15,700.00 15,700.00Salaries and Wages Payable (f) 4,900.00 4,900.00Unearned Rent 2,100.00 (g) 1,300.00 800.00Sarah Colin, Capital 238,100.00 238,100.00Sarah Colin, Drawing 10,000.00 10,000.00Fees Earned 388,700.00 (a) 12,500.00…
Beacon Signals Company maintains and repairs warning lights, such as Beacon Signals Company prepared the following end-of period spreadsheet at December 31, 2019, the end of the fiscal year:Beacon Signals CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31, 2019Unadjusted Trial Balance Adjustments Adjusted Trial BalanceAccount Title Dr. Cr. Dr. Cr. Dr. Cr.Cash 13,000.00 13,000.00Accounts Receivable 40,500.00 (a) 12,500.00 53,000.00Prepaid Insurance 4,200.00 (b) 3,000.00 1,200.00Supplies 3,000.00 (c) 2,250.00 750.00Land 98,000.00 98,000.00Building 500,000.00 500,000.00Accumulated Depreciation-Building 255,300.00 (d) 9,000.00 264,300.00Equipment 121,900.00 121,900.00Accumulated Depreciation-Equipment 100,100.00 (e) 4,500.00 104,600.00Accounts Payable 15,700.00 15,700.00Salaries and Wages Payable (f) 4,900.00 4,900.00Unearned Rent 2,100.00 (g) 1,300.00 800.00Sarah Colin, Capital 238,100.00 238,100.00Sarah Colin, Drawing 10,000.00…
Prepare an income statement, balance sheet and statement of owner’s equity for theyear ended January 31, 2018 from the following adjusted trial balance:P. S SuppliesAdjusted Trial BalanceDecember 31, 2012Accounts Debit CreditCash $2,000Prepaid insurance 2,000Office supplies 600Office equipment 16,000Accumulated depreciation $3,000Accounts payable 5,000Salaries payable 900Unearned service revenue 2,500C. Devours, capital 7,450C. Devours, drawing 5,600Service revenue 15,350Salaries expense 4,600Depreciation expense 1,000Supplies expense 400Insurance expense 2,000Totals $34,200 $34,200