carruthselena
10.05.2021 •
Business
Accounts Debits Credits
Cash $ 17,000
Accounts Receivable 7,400
Supplies 3,400
Equipment 12,000
Accumulated Depreciation $ 3,800
Salaries Payable 5,800
Common Stock 22,000
Retained Earnings 8,200
Totals $ 39,800 $ 39,800
The following is a summary of the transactions for the year:
1. March 12 Provide services to customers, $54,000, of which $20,400 is on account.
2. May 2 Collect on accounts receivable, $17,400.
3. June 30 Issue shares of common stock in exchange for $6,000 cash.
4. August 1 Pay salaries of $5,800 from 2020 (prior year).
5. September 25 Pay repairs and maintenance expenses, $12,400.
6. October 19 Purchase equipment for $7,400 cash.
7. December 30 Pay $1,100 cash dividends to stockholders.
The following information is available for the adjusting entries.
Accrued salaries at year-end amounted to $20,700.
Depreciation for the year on the equipment is $4,400.
Office supplies remaining on hand at the end of the year equal $1,200.
a. Prepare an unadjusted trial balance(Please write out).
b. Prepare an adjusted trial balance(Please write out).
3. Prepare the income statement for the year ended December 31, 2021 (Please Write out).
4. Prepare a post-closing trial balance.
Solved
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Ответ:
One approach is to use the simple equation Value = Benefits / Cost. The plus side to this approach is that it is concrete and quantifiable. You can measure the profit consistently throughout the life of the product, charting changes in value over time.