e P3-2 (Adpsting Entries And Fi x 1 e A Review Of TheLedge, Re ci x S Novak was
ID: 2329274 • Letter: E
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e P3-2 (Adpsting Entries And Fi x 1 e A Review Of TheLedge, Re ci x S Novak was founded manay dugen.wileyplus.com/edugen/Iti/main.uni Return to Blackboard Kieso, Intermediate Accounting, 16e Help I S NOVAK TRIAL BALANCE DECEMBER 31, 2017 ES Unadjusted Adjusted Dr. $25,000 22,000 7,200 3,200 74,000 Cr. Dr. $25,000 26,400 1,200 2,400 74,000 Cr. dCash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Supplies Expense Rent Expense $32,000 5,000 $38,000 5,000 420 14,000 4,700 1,400 11,000 5,000 82,400 14,000 6,400 11,000 5,000 76,300 14,700 16,100 800 620 6,000 6,000 3,400 200 3,400 to searchExplanation / Answer
Income Statement: Service revenue 82400 Less: Expense Salaries and wages expense 16100 Insurance expense 800 Interest expense 620 Depreciation expense 6000 Supplies expense 6000 Rent expense 3400 Net Income 49480 Statement of Retained Earnings Beginning Balance of RE 5000 Add: Net Income 49480 Ending balance of RE 54480 Balance Sheet: Assets Current assets: Cash 25000 Accounts receivable 26400 Supplied 1200 Prepaid Insurance 2400 Total current assets 55000 Equipment 74000 Less: Accumulated dep 38000 36000 Total Assets 91000 Liabilities: Current Liabilities: Accounts payable 5000 Interest payable 420 Notes payable 14000 Unearned service revenue 4700 Salaries and wages payable 1400 Total current liabilities 25520 Stockholder's equity Common Stock 11000 Retained earnings 54480 Total Stockholder's equity 65480 Total Liabilities and Stockholder's equity 91000
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