Given the income statement columns and the balance sheet columns

Home / Questions / Given the income statement columns and the balance sheet columns of the worksheet, prepar

Given the income statement columns and the balance sheet columns of the worksheet, prepar

Given the income statement columns and the balance sheet columns of the worksheet, prepare an income statement for the month of October 31, 2014, for the company.

TrialAdjustedIncomeBalance

BalanceAdjustmentsTrial BalanceStatement Sheet

Accounts	DR	CR	DR	CR	DR	CR	DR	CR	DR	CR
Cash	1,000				1,000				1,000
Accts. Rec.	400				400				400
Supplies	900			c 400	500				500
Equipment	750				750				750
Accts. Pay		700				700				700
Capital		1,950				1,950				1,950
Withdrawls	200				200				200
Fees Earned		900				900		900
Salary Exp.	300		b 100		400		400
Totals	3,550	3,550

Amortization Expense			a 50		50		50
Accumulated Amortization				a 50		50				50
Salaries Payable				b 100		100				100
Supplies Expense			c 400		400		400
Totals			550	550	3,700	3,700	850	900	2,850	2,800
Net Loss							50			50
							900	900	2,850	2,850

6) Given the income statement columns and the balance sheet columns of the worksheet, prepare a balance sheet dated December 31, 2013, for Baur Company.

TrialAdjustedIncomeBalance

BalanceAdjustmentsTrial BalanceStatement Sheet

Accounts	DR	CR	DR	CR	DR	CR	DR	CR	DR	CR
Cash	750				750				750
Accts. Rec.	400				400				400
Supplies	250			b 175	75				75
Prepaid Ins.	400			c 100	300				300
Equipment	7,000				7,000				7,000
Accts. Pay		900				900				900
Capital		6,000				6,000				6,000
Fees Earned		2,000				2,000		2,000
Wages Exp.	100		d 300		400		400
Totals	8,900	8,900

Amortization Expense			a 250		250		250
Accumulated Amortization				a 250		250				250
Supplies Expense			b 175		175		175
Insurance Expense			c 100		100		100
Wages Payable				d 300		300				300
Total			825	825	9,450	9,450	925	2,000	8,525	7,450
Net Income							1,075			1,075
							2,000	2,000	8,525	8,525

7) Discuss the benefits of the worksheet. Explain how the financial reports are prepared from the worksheet.

8) Determine the ending owner's equity of a business having a beginning owner's equity of $10,200, withdrawals of $1,210, and net income of $8,250.

$________________

Tripti 06-Dec-2019

Answer (UnSolved)

question Get solution

There are hundreds Qantas flights transporting passengers from different airports There are hundreds Qantas flights transporting passengers from different airports to over 50 domestic and international destinations every day. Qantas flight operational...
All Qantas Line Maintenance Stations can communicate with inbound aircraft provides All Qantas Line Maintenance Stations can communicate with inbound aircraft provides 24 hours per day for advice on incoming defects, facilitating the preparation of appro...
quadratic The critical styles needed to style the above-the-fold content are inlined and applied to the document immediately. The full small.css is loaded after initial painting of...
Qantas has a centralised operational database to capture Qantas has a centralised operational database to capture their day-to-day ticket sales. Qantas provides online ticket sales and promotion agents for ticket sales. Promoti...
Qantas management is to ensure the successful completion Qantas management is to ensure the successful completion of around 300,000 flights every year to 57 airports around Australia and to 86 destinations in 36 countries that ...
In the initial lectures on the economic way of thinking In the initial lectures on the economic way of thinking we considered the description of cost-benefit analysis in macroeconomics offered by Henry Hazlitt. Some years bac...
Assume that the world economy consists of two countries Question Background: Assume that the world economy consists of two countries: Russia and Byelorussia. Each country can produce tomatoes and potatoes. Russia can produce ...
Qantas Airways is the flag carrier airline of Australia Qantas Airways is the flag carrier airline of Australia. Qantas' headquarter is located at the Qantas Centre in the Mascot suburb of Sydney, New South Wales. The Qantas G...
Your presentation will contain both PowerPoint slides and a script Your presentation will contain both PowerPoint slides and a script (this will be written in the “notes” section of PowerPoint). While OUA students will not be delivering ...
To promote the better services to VIP members and award customers To promote the better services to VIP members and award customers’ loyalty, Qantas provide the airline lounge with airport locations around Australia and the world. Those...

Service

Given the income statement columns and the balance sheet columns of the worksheet, prepar

Given the income statement columns and the balance sheet columns of the worksheet, prepar

Answer (UnSolved)

Ask Homework Question

Writing Help

Have a language expert improve your writing

Instant response from experts on your writing help queries

Find your question's answer instantly in our Q&A bank