Question

COOKIE CREATIONS Adjusted Trial Balance December 31, 2019 Debit Credit Cash $970 Accounts Receivable 720 Supplies...


COOKIE CREATIONS
Adjusted Trial Balance
December 31, 2019

Debit

Credit

Cash

 $970

Accounts Receivable

 720

Supplies

 290

Prepaid Insurance

 990

Equipment

 1,000

Accumulated Depreciation—Equipment

 $30

Accounts Payable

 60

Salaries and Wages Payable

 46

Interest Payable

 10

Unearned Service Revenue

 250

Notes Payable

 1,600

Owner’s Capital

 660

Owner’s Drawings

 410

Service Revenue

 3,759

Salaries and Wages Expense

 825

Utilities Expense

 105

Advertising Expense

 135

Supplies Expense

 840

Depreciation Expense

 30

Insurance Expense

 90

Interest Expense

 10

$6,415

$6,415

Using the information in the adjusted trial balance, do the following.

(a1)

Prepare an income statement for the 2 months ended December 31, 2019. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
COOKIE CREATIONS
Income Statement

For the Two Months Ended December 31, 2019For the Year Ended December 31, 2019December 31, 2019

DrawingsExpensesNet Income / (Loss)Owner’s Capital, November 1Owner’s Capital, December 31RevenuesTotal ExpensesTotal Revenues
$

DrawingsExpensesNet Income / (Loss)Owner’s Capital, November 1Owner’s Capital, December 31RevenuesTotal ExpensesTotal Revenues
$

    Drawings    Expenses    Net Income / (Loss)    Owner’s Capital, November 1    Owner’s Capital, December 31    Revenues    Total Expenses    Total Revenues    

DrawingsExpensesNet Income / (Loss)Owner’s Capital, November 1Owner’s Capital, December 31RevenuesTotal ExpensesTotal Revenues

 $
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

(a1)

Prepare an income statement for the 2 months ended December 31, 2019. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

COOKIE CREATIONS
Income Statement

For the Two Months Ended December 31, 2019
Revenue
Service revenue $3759
Expenses
Salaries and Wages Expense $825
Utilities expense 105
Advertising Expense 135
Supplies expense 840
Depreciation Expense 30
Insurance Expense 90
Interest expense 10
Total expense 2035
Net income $1724
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Joshua Metal Company Adjusted Trial Balance for the Month Ending December 31, 2019 Account Title Debit...
Joshua Metal Company Adjusted Trial Balance for the Month Ending December 31, 2019 Account Title Debit Credit 100-Cash 3,650 101-Accounts Receivable 4,500 102-Supplies 6,800 103-Prepaid Rent 22,000 150-Computer (Cost) 85,000 151-Accumulated Depreciation 2,600 200-Accounts Payable 5,000 201-Unearned Revenue 12,600 202-Salaries & Wages Payable 8,700 300-Owner's Capital 125,000 301-Owner's Drawings 10,000 400-Product Revenue 75,000 404-Service Revenue 36,000 500-Telephone Expense 2,450 601-Salaries & Wages Expense 125,000 650-Supplies Expense 2,500 750-Depreciation Expense 500 790-Rent Expense 2,500 264,900 264,900 Please prepare a journal entry...
The following are the trial balance and the other information related to Kevin Consulting Engineer. KEVIN...
The following are the trial balance and the other information related to Kevin Consulting Engineer. KEVIN CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $29,500 Accounts Receivable 55,700 Allowance for Doubtful Accounts $803 Supplies 2,300 Prepaid Insurance 1,120 Equipment 29,000 Accumulated Depreciation-Equipment 6,145 Notes Payable 7,200 Common Stock 10,000 Retained Earnings 23,254 Service Revenue 115,957 Rent Expense 10,439 Salaries and Wages Expense 32,900 Utilities Expenses 1,760 Office Expense 640 $163,359 $163,359 1. Fees received in advance from clients...
Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $85,150 Accounts Receivable 229,140 Supplies...
Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $85,150 Accounts Receivable 229,140 Supplies 16,955 Equipment 395,285 Accumulated Depreciation $221,260 Accounts Payable 74,235 Capital Stock 220,000 Retained Earnings 101,145 Service Revenue 893,105 Interest Income 1,500 Dividends 2,000 Rent Expense 58,500 Wages Expense 527,260 Supplies Expense 42,520 Utilities Expense 8,595 Depreciation Expense 145,840 ________      Totals $1,522,565 $1,522,565 Use this information to prepare the Balance Sheet for the fiscal year. There are additional lines in the formatted Balance Sheet form...
Presented below is the adjusted trial balance of Sweet Corporation at December 31, 2020. Debit Credit...
Presented below is the adjusted trial balance of Sweet Corporation at December 31, 2020. Debit Credit Cash $          ? Supplies 1,610 Prepaid Insurance 1,410 Equipment 48,410 Accumulated Depreciation-Equipment $  4,410 Trademarks 1,360 Accounts Payable 10,410 Salaries and Wages Payable 910 Unearned Service Revenue 2,410 Bonds Payable (due 2027) 9,410 Common Stock 10,410 Retained Earnings 25,410 Service Revenue 10,410 Salaries and Wages Expense 9,410 Insurance Expense 1,810 Rent Expense 1,610 Interest Expense 1,310     Total $          ? $          ? Additional information: 1. Net loss for the...
Victoria Lee Company had the following adjusted trial balance. Victoria Lee Company Adjusted Trial Balance For...
Victoria Lee Company had the following adjusted trial balance. Victoria Lee Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,712 Accounts Receivable 3,904 Supplies 480 Accounts Payable $1,382 Unearned Service Revenue 160 Owner’s Capital 5,760 Owner’s Drawings 550 Service Revenue 4,300 Salaries and Wages Expense 1,260 Miscellaneous Expense 256 Supplies Expense 1,900 Salaries and Wages Payable 460 $12,062 $12,062 Prepare closing entries at June 30,2020 Prepare a post- closing...
The following is the adjusted trial balance of Wilson Trucking Company. Account Title Debit Credit Cash...
The following is the adjusted trial balance of Wilson Trucking Company. Account Title Debit Credit Cash $ 8,400 Accounts receivable 16,500 Office supplies 2,000 Trucks 187,000 Accumulated depreciation—Trucks $ 38,522 Land 75,000 Accounts payable 12,400 Interest payable 3,000 Long-term notes payable 52,000 K. Wilson, Capital 171,915 K. Wilson, Withdrawals 19,000 Trucking fees earned 138,000 Depreciation expense—Trucks 24,847 Salaries expense 64,722 Office supplies expense 6,500 Repairs expense—Trucks 11,868 Totals $ 415,837 $ 415,837 The K. Wilson, Capital, account balance is $171,915...
QUESTION 13 Joshua Metal Company Adjusted Trial Balance for the Month Ending December 31, 2019 Account...
QUESTION 13 Joshua Metal Company Adjusted Trial Balance for the Month Ending December 31, 2019 Account Title Debit Credit 100-Cash 3,650 101-Accounts Receivable 4,500 102-Supplies 6,800 103-Prepaid Rent 22,000 150-Computer (Cost) 85,000 151-Accumulated Depreciation 2,600 200-Accounts Payable 5,000 201-Unearned Revenue 12,600 202-Salaries & Wages Payable 8,700 300-Owner's Capital 125,000 301-Owner's Drawings 10,000 400-Product Revenue 75,000 404-Service Revenue 36,000 500-Telephone Expense 2,450 601-Salaries & Wages Expense 125,000 650-Supplies Expense 2,500 750-Depreciation Expense 500 790-Rent Expense 2,500 264,900 264,900 Please prepare a...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 8,900 Accounts receivable 16,500 Office supplies 2,000 Trucks 160,000 Accumulated depreciation—Trucks $ 32,960 Land 75,000 Accounts payable 12,900 Interest payable 3,000 Long-term notes payable 52,000 K. Wilson, Capital 153,332 K. Wilson, Withdrawals 19,000 Trucking fees earned 141,500 Depreciation expense—Trucks 21,259 Salaries expense 66,364 Office supplies expense 14,500 Repairs expense—Trucks 12,169 Totals $ 395,692 $ 395,692    The K. Wilson, Capital account...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 9,400 Accounts receivable 16,500 Office supplies 2,000 Trucks 164,000 Accumulated depreciation—Trucks $ 33,784 Land 75,000 Accounts payable 13,400 Interest payable 3,000 Long-term notes payable 52,000 K. Wilson, Capital 155,547 K. Wilson, Withdrawals 19,000 Trucking fees earned 128,000 Depreciation expense—Trucks 21,791 Salaries expense 60,032 Office supplies expense 7,000 Repairs expense—Trucks 11,008 Totals $ 385,731 $ 385,731    The K. Wilson, Capital account...
The adjusted trial balance for DVD Concepts at December 31, 2017, as follows: DVD CONCEPTS Adjusted...
The adjusted trial balance for DVD Concepts at December 31, 2017, as follows: DVD CONCEPTS Adjusted Trial Balance Year Ended December 31, 2017                                                                               Accounts                                                                      Debit                     Credit Cash                                                                         $    8,000 Accounts Receivable                                                 16,000 Supplies                                                                          6,000 Prepaid Insurance                                                         8,000 Computer Equipment                                               210,000 Accum. Depreciation—Computer Equipment                                     $ 25,000 Accounts Payable                                                                                        20,000 Note Payable                                                                                                71,000 Salaries Payable                                                                                            3,000 J. Yan, Capital                                                                                            109,000 J. Yan, Withdrawals                                                   12,000 DVD Rental Revenue                                                                               133,000 Advertising Expense                                                  26,000 Depreciation Expense                                                12,000 Rent Expense                                                              19,000 Salaries Expense                                                       ...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT