Prepare an income statement for Alert Security Services Co.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....
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Appendix 1: Financial Statements From an End-of-Period Spreadsheet
Alert Security Services Co. offers security services to business clients.
Alert Security Services Co. | ||||||||
End-of-Period Spreadsheet | ||||||||
For the Year Ended October 31, 2019 | ||||||||
Adjusted |
Income Statement | Balance Sheet | ||||||
Account Title | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | ||
Cash | 70 | |||||||
Accounts Receivable | 510 | |||||||
Supplies | 23 | |||||||
Prepaid Insurance | 17 | |||||||
Land | 580 | |||||||
Equipment | 232 | |||||||
Accum. Depr.—Equipment | 46 | |||||||
Accounts Payable | 209 | |||||||
Wages Payable | 23 | |||||||
Brenda Schultz, Capital | 1,010 | |||||||
Brenda Schultz, Drawing | 46 | |||||||
Fees Earned | 568 | |||||||
Wages Expense | 139 | |||||||
Rent Expense | 70 | |||||||
Insurance Expense | 58 | |||||||
Utilities Expense | 41 | |||||||
Supplies Expense | 35 | |||||||
Depreciation Expense | 23 | |||||||
Miscellaneous Expense | 12 | |||||||
Totals | 1,856 | 1,856 | ||||||
Net income (loss) | ||||||||
Prepare an income statement for Alert Security Services Co.
Alert Security Services Co. | ||
Income Statement | ||
For the Year Ended October 31, 2019 | ||
$fill in the blank 602091022f91006_2 | ||
Expenses: | ||
$fill in the blank 602091022f91006_4 | ||
fill in the blank 602091022f91006_6 | ||
fill in the blank 602091022f91006_8 | ||
fill in the blank 602091022f91006_10 | ||
fill in the blank 602091022f91006_12 | ||
fill in the blank 602091022f91006_14 | ||
fill in the blank 602091022f91006_16 | ||
Total expenses | fill in the blank 602091022f91006_17 | |
$fill in the blank 602091022f91006_19 |
Prepare a statement of owner's equity for Alert Security Services Co. Negative amounts should be indicated by a minus sign.
Alert Security Services Co. | ||
Statement of Owner's Equity | ||
For the Year Ended October 31, 2019 | ||
$fill in the blank 64a68700707ffac_2 | ||
$fill in the blank 64a68700707ffac_4 | ||
fill in the blank 64a68700707ffac_6 | ||
fill in the blank 64a68700707ffac_8 | ||
$fill in the blank 64a68700707ffac_10 |
Prepare a balance sheet for Alert Security Services Co.
Alert Security Services Co. | |||
Balance Sheet | |||
October 31, 2019 | |||
Assets | |||
Current assets: | |||
$fill in the blank e8eabb037fcb05b_2 | |||
fill in the blank e8eabb037fcb05b_4 | |||
fill in the blank e8eabb037fcb05b_6 | |||
fill in the blank e8eabb037fcb05b_8 | |||
Total current assets | $fill in the blank e8eabb037fcb05b_9 | ||
Property, plant, and equipment: | |||
$fill in the blank e8eabb037fcb05b_11 | |||
$fill in the blank e8eabb037fcb05b_13 | |||
fill in the blank e8eabb037fcb05b_15 | fill in the blank e8eabb037fcb05b_16 | ||
Total property, plant, and equipment | fill in the blank e8eabb037fcb05b_17 | ||
Total assets | $fill in the blank e8eabb037fcb05b_18 | ||
Liabilities | |||
Current liabilities: | |||
$fill in the blank e8eabb037fcb05b_20 | |||
fill in the blank e8eabb037fcb05b_22 | |||
Total liabilities | $fill in the blank e8eabb037fcb05b_23 | ||
Owner's Equity | |||
fill in the blank e8eabb037fcb05b_25 | |||
Total liabilities and owner's equity | $fill in the blank e8eabb037fcb05b_26 |
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