Given the adjusted trial balance below, prepare (in good form) an income statement, statement of owner's equity, and balance sheet. The name of the business is Duncore Secretarial Service and the accounting period coincides with the calendar year.
Duncore Secretarial Service
Adjusted Trial Balance
December 31, 2010
Cash
$ 265
Accounts Receivable
600
Supplies
10
Prepaid Insurance
10
Office Equipment
1,000
Accumulated DepreciationâOffice Equipment
$ 150
Accounts Payable
600
Salaries Payable
35
Marina Duncore, Capital
700
Service Revenue
1,100
Salaries Expense
560
Supplies Expense
40
Insurance Expense
50
Depreciation ExpenseâOffice Equipment
50
______
$2,585
$2,585
Given the adjusted trial balance below, prepare (in good form) an income statement, statement of owner's equity, and balance sheet. The name of the business is Duncore Secretarial Service and the accounting period coincides with the calendar year.
| Duncore Secretarial Service | ||
| Adjusted Trial Balance | ||
| December 31, 2010 | ||
| Cash | $ 265 | |
| Accounts Receivable | 600 | |
| Supplies | 10 | |
| Prepaid Insurance | 10 | |
| Office Equipment | 1,000 | |
| Accumulated DepreciationâOffice Equipment | $ 150 | |
| Accounts Payable | 600 | |
| Salaries Payable | 35 | |
| Marina Duncore, Capital | 700 | |
| Service Revenue | 1,100 | |
| Salaries Expense | 560 | |
| Supplies Expense | 40 | |
| Insurance Expense | 50 | |
| Depreciation ExpenseâOffice Equipment | 50 | ______ |
| $2,585 | $2,585 | |
Related questions
| ACC 121 -Financial Statement Problem | |||||||
| Given the adjustedtrial balance below, prepare (in good form) an income statement,statement of retained earnings, and balance sheet. The name of thebusiness Income Solutions, Inc and the accounting period coincideswith the calendar year. | |||||||
| Income Solutions, Inc | |||||||
| Adjusted Trial Balance | |||||||
| December 31, 20x5 | |||||||
| Cash | $ 695 | ||||||
| Accounts Receivable | 1,700 | ||||||
| Supplies | 45 | ||||||
| Prepaid Insurance | 45 | ||||||
| Office Equipment | 2,500 | ||||||
| Accumulated Depreciation - Office Equipment | $ 400 | ||||||
| Accounts Payable | 1,700 | ||||||
| Salaries Payable | 100 | ||||||
| Common Stock | 1,000 | ||||||
| Retained Earnings | 900 | ||||||
| Service Revenue | 2,855 | ||||||
| Salaries Expense | 1,650 | ||||||
| Supplies Expense | 110 | ||||||
| Insurance Expense | 110 | ||||||
| Depreciation Expense - Office Equipment | 100 | ||||||
| $ 6,955 | $ 6,955 | ||||||
The December 31, 2015, adjusted trial balance of BusinessSolutions (reflecting its transactions from October throughDecember of 2015) follows.
No. | Account Title | Debit | Credit |
101 | Cash | $ 48,372 | |
106 | Accounts receivable | 5,668 | |
126 | Accounts receivable | 580 | |
128 | Computer supplies | 1,665 | |
131 | Prepaid insurance | 825 | |
163 | Office equipment | 8,000 | |
164 | Accumulated depreciationâOffice equipment | $ 400 | |
167 | Computer equipment | 20,000 | |
168 | Accumulated depreciationâComputer equipment | 1,250 | |
201 | Accounts payable | 1,100 | |
210 | Wages payable | 500 | |
236 | Unearned computer services revenue | 1,500 | |
301 | S. Rey, Capital | 73,000 | |
302 | S. Rey, Withdrawals | 7,100 | |
403 | Computer services revenue | 31,284 | |
612 | Depreciation expenseâOffice equipment | 400 | |
613 | Depreciation expenseâComputer equipment | 1,250 | |
623 | Wages expense | 3,875 | |
637 | Insurance expense | 555 | |
640 | Rent expense | 2,475 | |
652 | Computer supplies expense | 3,065 | |
655 | Advertising expense | 2,753 | |
676 | Mileage expense | 896 | |
677 | Miscellaneous expenses | 250 | |
684 | Repairs expenseâComputer | 1,305 | |
901 | Income summary | 0 | |
Totals | $109,034 | $109,034 |
Please complete the following:
Record and post the necessary closing entries for BusinessSolutions.
Prepare a post-closing trial balance as of December 31,2015.
