Chapter 6, Problem 1.15C

your line manager wants to assess your understanding and ability to prepare and produce the appropriate final accounts such as profit and loss account, owners’ equity statement, and balance sheet as well as how these accounts are differed under different forms and types of business. Produce the final accounts for a sole trader business (Software Programming Company) from task 1 including profit and loss account, owners’ equity statement, and balance sheet for the Period ended July 31st. using the trial balance that you have produced in problem 2/ task1 2) Make the adjustments entries for the following transactions before preparing the final accounts for LLC company:  On the 20th of October 2019, the business purchased supplies for 8000 cash. On 31st of December, 2019 the business found out that the supplies still on hand were 4000 only.  The business has a Equipment with book value of 17000, with annual depreciation rate of 10%.  On the 1st of July the business purchased a…

Katie Long owns and operates KL Company. Transactions for the month of March have been posted to the T accounts. An intern has prepared a trial balance from the T accounts, but there seem to be some errors.   Required: 1. In the Transactions panel, descriptions of the transactions for the month of March are provided. Each of the transactions in the Transactions panel has been posted to the T accounts. Referring to the T accounts, select the date on which each transaction occurred, enter the amount of the transaction, and select the account to debit and credit. 2. The trial balance prepared by the intern can be found in the Trial Balance: Unequal Totals panel. The intern is puzzled by the unequal totals. Prepare a corrected trial balance on the Trial Balance: Correct panel. 3. Compare the trial balance prepared by the intern (Trial Balance: Unequal Totals) to the trial balance that you prepared (Trial Balance: Correct). Use the table provided in the Errors in Trial Balance…

Hello, I am stuck with this problem. I have included the directions below and what I have done so far is included in the images.   The Adjusted Trial Balance columns of a work sheet for Planta Company follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period.