Homework Answers
Answer: please find income statement, balance sheet and calculation of retained earnings
| Income statement | |||
| USD | |||
| Revenue | |||
| Revenue from operations | 61000 | ||
| Total Revenue | 61000 | ||
| Expenses | |||
| Employee benefits expense | 31000 | ||
| Other administrative expense | 15900 | ||
| Finance cost | 600 | ||
| Depreciation | 5600 | ||
| 53100 | |||
| Profit before Tax | 7900 | ||
| Others | |||
| Insurance | 3500 | ||
| Advertising | 8400 | ||
| Supplies expense | 4000 | ||
| 15900 | |||
| Statement of Financial position | |||
| Liabilities | USD | Assets | USD |
| Equity | Property plant and equipment | ||
| Common stock | 10000 | Office equipments | 18400 |
| Other Equity | Current assets | ||
| Retained earnings | 6700 | Cash | 8100 |
| Current liabilities | Accounts receivables | 10800 | |
| Trade payables | 24100 | Supplies | 1500 |
| Others | 2000 | ||
| 40800 | 40800 | ||
| Trade payables | |||
| Notes payables | 15000 | ||
| Accounts payables | 6100 | ||
| Salary payables | 2400 | ||
| Interest payables | 600 | ||
| 24100 | |||
| Retained earnings | |||
| USD | |||
| Surplus | |||
| Opening balance | 5800 | ||
| Add: profit during the year | 7900 | ||
| Less: Dividend | -7000 | ||
| 6700 | |||
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Please answer all the questions below: Question 1 (40%) ROSE COMPANYINC. Worksheet For the Year Ended...
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No....
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles 101 Cash 12 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum DepreciationOffice Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense 8,100 10,800 1,500 2,000...
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No....
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles 101 Cash 12 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum DepreciationOffice Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense 8,100 10,800 1,500 2,000...
Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles 101...
Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles 101 Cash 112 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum Depreciation-Office Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense Dr. Cr. 8,100 10,800 1,500 2,000 24,000...
SKY COMPANY INC. Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Cr. No....
SKY COMPANY INC. Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Cr. No. Account Titles Dr. 101 Cash 3,100 112 Accounts Receivable 10,800 126 Supplies 1,500 130 Prepaid Insurance 2,000 151 Office Equipment 24,000 152 Accumulated Depreciation Office Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 7,000 400 Service Revenue 610 Advertising Expense 8,400 631 Supplies Expense 4,000 711 Depreciation Expense 722 Insurance Expense...
Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account Dr. No. Account Titles...
Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account Dr. No. Account Titles 101 Cash 112 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum Depreciation-Office Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stoclk 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense r. 8,100 10,800 1,500 2,000 24,000...
(c) Journalize the hujus (d) Journalize the closing entries from the financiar worksheet for Thao Company,...
(c) Journalize the hujus (d) Journalize the closing entries from the financiar worksheet for Thao Company, owned by P4-2A The adjusted trial balance columns of the worksheet D. Thao, are as follows. Account No. 101 112 126 130 157 158 200 201 212 230 301 306 400 610 631 711 722 726 905 THAO COMPANY Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Dr. Account Titles Cash 5,300 Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment...
Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Pina...
Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Pina Colada Company are as follows. Account No. 101 112 126 130 Receivable 200 Pina Colada Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Dr. Cash 5,200 Accounts Receivable 10,800 Supplies 1,200 Prepaid Insurance 2,100 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 14,000 Accounts Payable 6,300 Salaries and Wages Payable 2,300 Interest Payable 600 Common Stock 9,750 Retained...
Select a Section Select a Study Objective STANDARD VIEW GLS Complete worksheet; prepare financial statements, closing...
Select a Section Select a Study Objective STANDARD VIEW GLS Complete worksheet; prepare financial statements, closing entries, and post-closing trial balance. (LO 1, 2, 4) The adjusted trial balance columns of the worksheet for Alshwer Company are as follows. Cr. 5,300 Account No. 101 112 126 130 157 158 ALSHWER COMPANY Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Dr. Cash Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment 27,000 Accumulated Depreciation Equipment 5,600...
Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Pina...
Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Pina Colada Company are as follows. Account No. 101 112 126 130 Receivable 200 Pina Colada Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Dr. Cash 5,200 Accounts Receivable 10,800 Supplies 1,200 Prepaid Insurance 2,100 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 14,000 Accounts Payable 6,300 Salaries and Wages Payable 2,300 Interest Payable 600 Common Stock 9,750 Retained...
(c) Prepare the closing entries. Use J14 for the journal page. d) Post the closing entries....
(c) Prepare the closing entries. Use J14 for the journal page. d) Post the closing entries. Use the three-column form of account. Income Summary is D. Thao, are as follows. Cr. Account No. 101 112 126 130 157 158 200 201 212 230 301 306 400 610 631 711 722 726 905 THAO COMPANY Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account Titles Dr. Cash 5,300 Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment 27,000...
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles 101 Cash 12 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum DepreciationOffice Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense 8,100 10,800 1,500 2,000...
ROSE COMPANY INC Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles 101 Cash 12 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum DepreciationOffice Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense 8,100 10,800 1,500 2,000...
Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account No. Account Titles 101 Cash 112 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum Depreciation-Office Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense Dr. Cr. 8,100 10,800 1,500 2,000 24,000...
SKY COMPANY INC. Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Cr. No. Account Titles Dr. 101 Cash 3,100 112 Accounts Receivable 10,800 126 Supplies 1,500 130 Prepaid Insurance 2,000 151 Office Equipment 24,000 152 Accumulated Depreciation Office Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stock 320 Retained Earnings 332 Dividends 7,000 400 Service Revenue 610 Advertising Expense 8,400 631 Supplies Expense 4,000 711 Depreciation Expense 722 Insurance Expense...
Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account Dr. No. Account Titles 101 Cash 112 Accounts Receivable 126 Supplies 130 Prepaid Insurance 151 Office Equipment 152 Accum Depreciation-Office Equipment 200 Notes Payable 201 Accounts Payable 212 Salaries Payable 230 Interest Payable 311 Common Stoclk 320 Retained Earnings 332 Dividends 400 Service Revenue 610 Advertising Expense 631 Supplies Expense 711 Depreciation Expense 722 Insurance Expense 726 Salaries Expense 905 Interest Expense r. 8,100 10,800 1,500 2,000 24,000...
(c) Journalize the hujus (d) Journalize the closing entries from the financiar worksheet for Thao Company, owned by P4-2A The adjusted trial balance columns of the worksheet D. Thao, are as follows. Account No. 101 112 126 130 157 158 200 201 212 230 301 306 400 610 631 711 722 726 905 THAO COMPANY Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Dr. Account Titles Cash 5,300 Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment...
Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Pina Colada Company are as follows. Account No. 101 112 126 130 Receivable 200 Pina Colada Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Dr. Cash 5,200 Accounts Receivable 10,800 Supplies 1,200 Prepaid Insurance 2,100 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 14,000 Accounts Payable 6,300 Salaries and Wages Payable 2,300 Interest Payable 600 Common Stock 9,750 Retained...
Select a Section Select a Study Objective STANDARD VIEW GLS Complete worksheet; prepare financial statements, closing entries, and post-closing trial balance. (LO 1, 2, 4) The adjusted trial balance columns of the worksheet for Alshwer Company are as follows. Cr. 5,300 Account No. 101 112 126 130 157 158 ALSHWER COMPANY Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Dr. Cash Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment 27,000 Accumulated Depreciation Equipment 5,600...
Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Pina Colada Company are as follows. Account No. 101 112 126 130 Receivable 200 Pina Colada Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Dr. Cash 5,200 Accounts Receivable 10,800 Supplies 1,200 Prepaid Insurance 2,100 Equipment 27,000 Accumulated Depreciation Equipment 5,600 Notes Payable 14,000 Accounts Payable 6,300 Salaries and Wages Payable 2,300 Interest Payable 600 Common Stock 9,750 Retained...
(c) Prepare the closing entries. Use J14 for the journal page. d) Post the closing entries. Use the three-column form of account. Income Summary is D. Thao, are as follows. Cr. Account No. 101 112 126 130 157 158 200 201 212 230 301 306 400 610 631 711 722 726 905 THAO COMPANY Worksheet For the Year Ended December 31, 2017 Adjusted Trial Balance Account Titles Dr. Cash 5,300 Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment 27,000...
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