Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 20Y8, the end of the fiscal year, the accountant for Foxy Investigative Services prepared an end-of-period spreadsheet, a part of which follows: Foxy Investigative Services End-of-Period Spreadsheet For the Year Ended November 30, 20Y8   ~ Adjusted Trial Balance Account Title ~ Dr. Cr.   ~     Cash ~ 27,500   Accounts Receivable ~ 71,800   Supplies ~ 3,550   Prepaid Insurance ~ 750   Building ~ 330,500   Accumulated Depreciation-Building ~   184,100 Accounts Payable ~   16,100 Salaries Payable ~   6,600 Unearned Rent ~   1,500 Common Stock ~   40,000 Retained Earnings ~   70,300 Dividends ~ 30,000   Service Fees ~   675,500 Rent Revenue ~   9,000 Salaries Expense ~ 435,000   Rent Expense ~ 55,000   Supplies Expense ~ 11,850   Depreciation Expense-Building ~ 10,000   Utilities Expense ~ 8,800   Repairs Expense ~ 4,250   Insurance Expense ~ 3,000   Miscellaneous Expense ~ 11,100     ~ 1,003,100 1,003,100             Required: 1. A. Prepare an income statement for the year ended November 30, 20Y8. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) on the income statement. Refer to the Chart of Accounts for exact wording of account titles. B. Prepare a statement of stockholders’ equity for the year ended November 30, 20Y8. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Refer to the Chart of Accounts for exact wording of account titles. Refer to the lists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names. C. Prepare a balance sheet as of November 30, 20Y8. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary. Refer to the Chart of Accounts for exact wording of account titles. Refer to the lists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 2. Based upon the end-of-period spreadsheet, journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles. 3. If Retained Earnings had instead decreased $46,000 after the closing entries were posted, and the dividends remained the same, what would have been the amount of net income or net loss? If required, use a minus sign to indicate a net loss.     Chart of Accounts     CHART OF ACCOUNTS Foxy Investigative Services General Ledger   ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 17 Building 18 Accumulated Depreciation-Building   LIABILITIES 21 Accounts Payable 22 Salaries Payable 23 Unearned Rent   EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends   REVENUE 41 Service Fees 42 Rent Revenue   EXPENSES 51 Salaries Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense-Building 55 Utilities Expense 56 Repairs Expense 57 Insurance Expense 59 Miscellaneous Expense

On December 31, Year 2, Kimberly Company had the following normal account balances in its general ledger. The accounts are listed in random order. Salaries expense $ 18,900 Buildings 87,000 Retained earnings 1/1/Year 2 17,000 Operating expense 103,900 Cash 27,000 Accounts payable 16,000 Bonds payable 32,000 Accounts receivable 26,000 Common stock 57,000 Sales revenue 157,000 Prepaid rent 16,200 Required: Use the information regarding normal account balances to prepare a trial balance

Required information [The following information applies to the questions displayed below.] Chase Company posted transactions (a through in the following T-accounts in December, its first month of operations. a. C. Debit Debit Cash 15,600 b. 14,600 e. f. Accounts Payable 4,200 d. Debit Credit Services Revenue C. Credit Credit Prepare its December 31 trial balance. Chase Company Trial Balance 5,200 b. 6,200 d. 4,200 6,300 14,600 e. Debit Debit Debit Supplies 5,200 6,300 Common Stock a. Rent Expense 6,200 Credit Credit Credit 15,600

he Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2021, trial balances contained the following account information:     Nov. 30   Dec. 31   Dr. Cr.   Dr. Cr. Supplies 1,900     3,400   Prepaid insurance 6,400     4,700   Salaries payable   12,000     15,400 Deferred rent revenue   2,800     1,400    The following information also is known: The December income statement reported $2,400 in supplies expense. No insurance payments were made in December. $12,000 was paid to employees during December for salaries. On November 1, 2021, a tenant paid Righter $4,200 in advance rent for the period November through January. Deferred rent revenue was credited.  Required:1. Using the above information for December, complete the T-accounts below. The beginning balances should be the balances as of November 30.2. Using the above information, prepare the adjusting entries Righter recorded for the month of December.

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1 EJ-3 On September 1, the balance of the Accounts Receivable control account in the general ledger of Stark Company was $10,960. The customers' subsidiary ledger contained account balances as follows: Zeyen $1,440, Milo $2,640, Baez $2,060, and Dey $4,820. At the end of September, the various journals contained the following information. Sales journal: Sales to Dey $800; to Zeyen $1,260; to Guy $1,330; to Baez $1,260. Cash receipts journal: Cash received from Baez $1,310; from Dey $2,300; from Guy $380; from Milo $1,800; from Zeyen $1,240. General journal: An allowance is granted to Dey $185. Instructions (a) Set up control and subsidiary accounts and enter the beginning balances. Do not con- struct the journals. (b) Post the various journals. Post the items as individual items or as totals, whichever would be the appropriate procedure. (No sales discounts given.) (c) Prepare a schedule of accounts receivable and prove the agreement of the controlling account with the subsidiary…

The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31, 2019, the end of the fiscal year, the accountant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows: The Gorman GroupEnd-of-Period SpreadsheetFor the Year Ended October 31, 2019   Adjusted Trial Balance Account Title Dr. Cr. Cash 14,730   Accounts Receivable 32,060   Supplies 5,010   Prepaid Insurance 10,820   Land 114,000   Buildings 410,000   Accumulated Depreciation-Buildings   133,500 Equipment 296,000   Accumulated Depreciation-Equipment   173,800 Accounts Payable   37,930 Salaries Payable   3,760 Unearned Rent   1,700 Nicole Gorman, Capital   486,900 Nicole Gorman, Drawing 28,500   Service Fees   540,830 Rent Revenue   5,710 Salaries Expense 387,720   Depreciation Expense—Equipment 21,000   Rent Expense 17,600   Supplies Expense 12,470   Utilities Expense 11,270   Depreciation…