Business, 26.12.2021 04:20 romeojose2005
The trial balance of west side Laundromat at July 31,1991, the end of the fiscal year, and the data needed to determine year-end adjustments are as follows.
Westside Laundromat
Trial balance
July 31, 1991
Account Title
Debit
Credit
Cash
Laundry supplies
Prepaid insurance
Laundry equipment
Accumulated depreciation
Accounts payable
Ana Perez, capital
Ana Perez, Drawing
Laundry Revenue
Wages expense
Rent expense
Utilities expense
Miscellaneous expense
Br. 7,790
4,750
2,825
85,600
18,000
24,500
15,575
8,500
910
Br. 55,700
4,950
30,900
76,900
Total
Br. 168,450
Br. 168,450
Adjustment data:
(a) Inventory of Laundry supplies at July 31 Br. 1,840
(b) Insurance premiums expired during the year 1,500
(c) Depreciation on equipment during the year 5,720
(d) Wages accrued but not paid at July 31 850
Instructions:
1. Record the trial balance on a ten-column worksheet and complete the worksheet.
2. Prepare an income statement, a statement of owner’s equity and a balance sheet. (No additional investments were made during the year).
3. On the basis of the adjustment data in the worksheet, journalize the adjusting & closing entries.
Answers: 1
Business, 21.06.2019 13:30
Corporation b reported earnings per share of $10. corporation b has 100,000 shares of common stock outstanding and reported an increase in owners' equity of $400,000 for the period. corporation b paid $50,000 in interest expense during the period. corporation b paid dividends per share of
Answers: 3
Business, 21.06.2019 16:50
Which of the following is the most important role of marketing in the process selection decision? identifying points of differentiation for mass customization. stimulating demand in developing markets. estimating and managing future demand. providing translation of the voice of the customer.
Answers: 2
Business, 22.06.2019 19:40
On april 1, santa fe, inc. paid griffith publishing company $2,448 for 36-month subscriptions to several different magazines. santa fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what amount should appear in the prepaid subscription account for santa fe, inc. after adjustments on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?
Answers: 1
Business, 22.06.2019 20:10
Suppose the production function in an economy is y = k0.5l0.5, where k is the amount of capital and l is the amount of labor. the economy begins with 64 units of capital and 16 units of labor. use a calculator and equations in the chapter to find a numerical answer to each of the following questions. what are the wage and the rental price of capital? the wage is equal to unit(s) of output and the rental price of capital is equal to unit(s) of output.
Answers: 1
The trial balance of west side Laundromat at July 31,1991, the end of the fiscal year, and the data...
English, 25.02.2020 20:55
English, 25.02.2020 20:55
Mathematics, 25.02.2020 20:55
Mathematics, 25.02.2020 20:55