I want to solve the income statement and the statement of financial position for this question after the trial balance and adjustments The data needed to determine year-end adjustments are as follows:a. Supplies on hand at March 31 are $7,500.b. Insurance premiums expired during the year are $1,800.c. Depreciation of equipment during the year is $8,350.d. Depreciation of trucks during the year is $6,200.e. Wages accrued but not paid at March 31 are $600.

I want to solve the income statement and the statement of financial position for this question after the trial balance and adjustments The data needed to determine year-end adjustments are as follows:a. Supplies on hand at March 31 are $7,500.b. Insurance premiums expired during the year are $1,800.c. Depreciation of equipment during the year is $8,350.d. Depreciation of trucks during the year is $6,200.e. Wages accrued but not paid at March 31 are $600.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 4PA: The following accounts appear in the ledger of Celso and Company as of June 30, the end of this...

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I want to solve the income statement and the statement of financial position for this question after the trial balance and adjustments The data needed to determine year-end adjustments are as follows:a. Supplies on hand at March 31 are $7,500.b. Insurance premiums expired during the year are $1,800.c. Depreciation of equipment during the year is $8,350.d. Depreciation of trucks during the year is $6,200.e. Wages accrued but not paid at March 31 are $600.Instructions1. For each account listed in the trial balance, enter the balance in the appropriate Balance column of a four-column account and place a check mark (✓) in the Posting Reference column.2. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet. Add the accounts listed in part (3) as needed.3. Journalize and post the adjusting entries, inserting balances in the accounts affected. Record the adjusting entries on Page 26 of the journal. The following additional accounts from…
I want to solve the income statement and the statement of financial position for this question after the trial balance and adjustments The data needed to determine year-end adjustments are as follows:a. Supplies on hand at March 31 are $7,500.b. Insurance premiums expired during the year are $1,800.c. Depreciation of equipment during the year is $8,350.d. Depreciation of trucks during the year is $6,200.e. Wages accrued but not paid at March 31 are $600. Instructions1. For each account listed in the trial balance, enter the balance in the appropriate Balance column of a four-column account and place a check mark (✓) in the Posting Reference column.2. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet. Add the accounts listed in part (3) as needed.3. Journalize and post the adjusting entries, inserting balances in the accounts affected. Record the adjusting entries on Page 26 of the journal. The following…
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The following additional accounts from Recessive Interiors' chart of accounts should be used: Wages Payable, 22; Income Summary, 33; Depreciation Expense-Equipment, 54; Supplies Expense, 55; Depreciation Expense-Trucks, 56; Insurance Expense, 57. The data needed to determine year-end adjustments are as follows: Supplies on hand at January 31 are $2,850. Insurance premiums expired during the year are $3,150. Depreciation of equipment during the year is $5,250. Depreciation of trucks during the year is $4,000. Wages accrued but not paid at January 31 are $900. Required: 1. Journalize the closing entries on of the journal. Then post to the general ledger in the attached spreadsheet. For a compound transaction, if an amount box does not require an entry, leave it blank.
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Required 1. Prepare and complete a 10-column work sheet for fiscal year 2019, starting with the unadjusted trial balance and including adjustments based on these additional facts. a. The supplies available at the end of fiscal year 2019 had a cost of $7,900. b. The cost of expired insurance for the fiscal year is $10,600. c. Annual depreciation on equipment is $7,000. d. The April utilities expense of $800 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $800 amount owed needs to be recorded. e. The company’s employees have earned $2,000 of accrued and unpaid wages at fiscal year-end. f. The rent expense incurred and not yet paid or recorded at fiscal year-end is $3,000. g. Additional property taxes of $550 have been assessed for this fiscal year but have not been paid or recorded in the accounts. h. The $300 accrued interest for April on the long-term notes payable has not yet been paid or recorded. 2. Using information…
The worksheet at the end of October has P4,000 in the Trial Balance credit column for Accumulated Depreciation and has P4,750 in the Balance Sheet credit column for Accumulated Depreciation. What was the amount of the Depreciation expense adjustment for the month of October? *
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Hankik Enterprises Worksheet For the Year Ended July 31, 2015 Adjusted Trial Trial Balance Adjustments Description Balance Debit Debit Credit Credit Debit Credit Cash 36 Prepaid Insurance 12 Fees Receivable 56 Supplies 12 Equipment 60 Accum. Depreciation 12 Uncarned Revenue 20 Accounts Payable 32 Wages Payable Ramon Hikik, Capital 84 Ramon Hikik, 4 Drawing Service Revenue 80 Advertising Expense 28 Wage Expense 20 Insurance Expense Supplies Expense Depreciation Expense 228 Totals 228