Question

Chop Shop PTY LTD Adjusted trial balance As at 31 October 2019 Account name Debit Credit...

Chop Shop PTY LTD

Adjusted trial balance

As at 31 October 2019

Account name

Debit

Credit

Cash

$15,400

Supplies

1,550

Equipment

5,000

Accumulated depreciation

40

Accounts payable

2,550

Salaries payable

2,000

Bank loan (non-current)

5,000

Share capital

10,000

Retained earnings

0

Dividends

500

Service revenue

10,600

Salaries expense

7,650

Interest expense

50

Depreciation expense

40

$30,190

$30,190
  1. a. Prepare a Profit or Loss Statement
  2. b. Prepare a Balance Sheet
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

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
The following is the adjusted trial balance for Dove Lithography. Account Debit Credit Cash $1,700 Accounts...
The following is the adjusted trial balance for Dove Lithography. Account Debit Credit Cash $1,700 Accounts receivable 8,500 Supplies 100 Equipment 7,500 Accumulated depreciation $2,000 Accounts payable 1,200 Salary payable 800 Unearned revenue 600 Capital 3,400 Drawing 2,300 Service revenue 40,000 Salary expense 24,000 Supplies expense 2,300 Depreciation expense 1,600 $48,000 $48,000 Using the information from the worksheet above, prepare the closing journal entries for the company.
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...
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...
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...
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 $ 8,000 Accounts receivable 17,500 Office supplies 3,000 Trucks 172,000 Accumulated depreciation—Trucks $ 36,000 Land 85,000 Accounts payable 12,000 Interest payable 4,000 Long-term notes payable 53,000 Common stock 20,000 Retained earnings 155,000 Dividends 20,000 Trucking fees earned 130,000 Depreciation expense—Trucks 23,500 Salaries expense 61,000 Office supplies expense 8,000 Repairs expense—Trucks 12,000 Totals $ 410,000 $ 410,000    The Retained Earnings account balance is $155,000...
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 Pharoah Fishing Centre is as follows: PHAROAH FISHING CENTRE Adjusted Trial...
The adjusted trial balance for Pharoah Fishing Centre is as follows: PHAROAH FISHING CENTRE Adjusted Trial Balance March 31, 2021 Debit Credit Cash $7,600 Interest receivable 650 Supplies 1,550 Long-term investments 32,000 Land 45,000 Building 195,000 Accumulated depreciation—building $31,000 Equipment 35,000 Accumulated depreciation—equipment 17,500 Accounts payable 6,500 Interest payable 1,010 Unearned revenue 2,100 Notes payable ($6,000 must be paid in February, 2022) 65,800 R. Falkner, capital 172,040 R. Falkner, drawings 47,000 Service revenue 125,600 Interest revenue 1,200 Depreciation expense 9,800...
The adjusted trial balance for Pharoah Fishing Centre is as follows: PHAROAH FISHING CENTRE Adjusted Trial...
The adjusted trial balance for Pharoah Fishing Centre is as follows: PHAROAH FISHING CENTRE Adjusted Trial Balance March 31, 2021 Debit Credit Cash $7,600 Interest receivable 650 Supplies 1,550 Long-term investments 32,000 Land 45,000 Building 195,000 Accumulated depreciation—building $31,000 Equipment 35,000 Accumulated depreciation—equipment 17,500 Accounts payable 6,500 Interest payable 1,010 Unearned revenue 2,100 Notes payable ($6,000 must be paid in February, 2022) 65,800 R. Falkner, capital 172,040 R. Falkner, drawings 47,000 Service revenue 125,600 Interest revenue 1,200 Depreciation expense 9,800...
Selected worksheet data for Elsayed Company are presented below. Trial Balance Adjusted Trial Balance Account Titles...
Selected worksheet data for Elsayed Company are presented below. Trial Balance Adjusted Trial Balance Account Titles Debit Credit Debit Credit Accounts Receivable ? 33,311 Prepaid Insurance 26,057 20,182 Supplies 7,197 ? Accumulated Depreciation—Equipment 12,313 ? Salaries and Wages Payable ? 4,852 Service Revenue 87,773 96,120 Insurance Expense ? Depreciation Expense 11,973 Supplies Expense 4,478 Salaries and Wages Expense ? 49,220
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT