a) Prepare an adjusted trial balance at May 31, 2023. HINT Where would you look to find the information needed to pre the adjusted trial balance? SunBlush Technologies Inc. Adjusted Trial Balance May 31, 2023 Cash Accounts Receivable Prepaid Rent Computers Accumulated Depreciation, Computers Machinery Accumulated Depreciation, Machinery. Accounts Payable_ Salaries Payable Unearned Consulting Revenue Share Capital, Dividends Retained Earnings Consulting Revenue Earned Depreciation Expense, Machinery. Depreciation Expense, Computers Salaries Expense Insurance Expense Rent Expense Advertising Expense Food and Drinks Expense Repair Expense, Debit Credit 144,718 158,076 + 8,800 51,500 XXX 15,600 5,460 99 450 21,850 900 800 2,950 99 81,600 3,800 7,200 226,000 58,500 29,256 Totals a) Prepare an income statement for the month ended May 31, 2023. HINT: SunBlush Technologies Inc. Income Statement For the Month Ended May 31, 2023 600 52 500 409,405 409,405 b) Prepare a statement of changes in equity for the month ended May 31, 2 (select one) Statement of Changes in Equity (select one) Share Retained Total Capital earnings Equity c) Prepare a classified balance sheet at May 31, 2023. (select one) Balance Sheet (select one)

a) Prepare an adjusted trial balance at May 31, 2023. HINT Where would you look to find the information needed to pre the adjusted trial balance? SunBlush Technologies Inc. Adjusted Trial Balance May 31, 2023 Cash Accounts Receivable Prepaid Rent Computers Accumulated Depreciation, Computers Machinery Accumulated Depreciation, Machinery. Accounts Payable_ Salaries Payable Unearned Consulting Revenue Share Capital, Dividends Retained Earnings Consulting Revenue Earned Depreciation Expense, Machinery. Depreciation Expense, Computers Salaries Expense Insurance Expense Rent Expense Advertising Expense Food and Drinks Expense Repair Expense, Debit Credit 144,718 158,076 + 8,800 51,500 XXX 15,600 5,460 99 450 21,850 900 800 2,950 99 81,600 3,800 7,200 226,000 58,500 29,256 Totals a) Prepare an income statement for the month ended May 31, 2023. HINT: SunBlush Technologies Inc. Income Statement For the Month Ended May 31, 2023 600 52 500 409,405 409,405 b) Prepare a statement of changes in equity for the month ended May 31, 2 (select one) Statement of Changes in Equity (select one) Share Retained Total Capital earnings Equity c) Prepare a classified balance sheet at May 31, 2023. (select one) Balance Sheet (select one)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 14MC: What adjusting journal entry is needed to record depreciation expense for the period? A. a debit to...

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Question Directions: Establish the following T-Accounts and record the transactions directly into the T-accounts. Use the following account titles: CashMasunurin, CapitalAccounts ReceivableMasunurin, WithdrawalsSuppliesLaundry RevenuesPrepaid InsuranceSalaries ExpenseEquipmentRent ExpenseFurniture and FixturesUtility ExpenseAccounts PayableMiscellaneous Expense On January 1, 2017, Jaime Masunurin opened BLS Laundry Shop. Throughout the month of January, the following transactions were completed: 1. He deposited P400,000 in a bank account in the name of the business.2. He bought chairs and a table and paid them with P5,700 cash.3. He bought supplies on account from Morong Supply Inc. P3,250.4. He paid P5,750 for the monthly rental of the place.5. He bought washing machines and dryers from Bataan Equipment Corp. amounting to P115,000. He paid them with P35,000 in cash and the balance on the account.6. He earned P19,250 revenues on cash basis for the first half of the month.7. He…
Use the trial balance, adjustments and additional information to prepare the Statement ofComprehensive Income for the year ended 28 February 2022.Liat TradersPRE-ADJUSTMENT TRIAL BALANCE AS AT 28 FEBRUARY 2022Balance sheet accounts section Debit CreditR RCapital 550 854Drawings 75 150Land and buildings 477 164Vehicles at cost 91 000Equipment at cost 67 000Accumulated depreciation on vehicles 31000Accumulated depreciation onequipment 23800Trading inventory 68 800Debtors control 45 850Provision for bad debts 1900Bank 15 560Cash float 1 250Petty cash 250Creditors control 38 860Loan: MUFG Bank (15%) 21600Nominal accounts sectionSales 498 000Cost of sales 244 000Sales returns 8 000Wages 42 500Bank charges 2 300Rent income 26000Packing materials 12 000Advertising 8 500Rates 3 000Bad debts 900Discount allowed 750Discount received 980Stationery 8 500Interest on loan 2 970Water and electricity 5 550Insurance 5 000Telephone 7 0001 192 994 1 192 994Adjustments and additional information1. A…
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takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3Dfalse ☆ 国 The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each balance should be extended to an Income Statement column or a Balance Sheet column. 1. Retained Earnings 2. Common Stock 3. Depreciation Expense 4. Accumulated Depreciation 5. Fees Earned 6. Unearned Fees 7. Supplies 8. Supplies Expense
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Messages-INTERMEDIATE AC... https://uagm.blackboard.com/bbcsweb... https://uagm.blackboard.com/bbcswe... https://uagm.blackboard.com/bbcsw... Answer 20.The balance in deferred (unearned) revenue accounts represents amounts that are Earned Collected I. Yes No I. Yes Yes I. No No IV. No Yes a. I b.II C. II С. d. IV 21. An adjusting entry normally affects a. balance sheet accounts only b. income statement accounts only с. an income statement account and a balance sheet account d. balance sheet accounts or income statement accounts only 22.Accrued revenues a. have been earned and collected, but not yet recorded b. have been collected, but not yet earned or recorded have been earned and recorded, but not yet collected d. have béen earned, but not yet collected or recorded C.
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