Len Donald started his own consulting firm, Donald Consulting, on June 1, 2025. The trial balance at June 30 is as follows. Donald Consulting Trial Balance June 30, 2025 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense Debit $7,000 7,150 2,150 3,060 15,180 Credit $4,380 5,350 22,150 8,450 4,150 1,640 $40,330 $40,330

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I need help with this practice problem.   Put the balances from the adjusted trial balance into the T accountsCreate properly formatted income statement and balance sheet for the year and the balance sheet as of 12/31.Create the closing entries.Post the results of the closing entries into the T accountDraw off balances for the T accounts.Create the post-closing trial balance

At December 31, 2021, Skysong, Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts During 2022, the company had the following transactions related to receivables. 1. 2. 3. 4. 5. $630,000 41,000 Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,669.000 54,000 2,056,000 41,000 17,000

Carla Vista Corporation has the following selected transactions during the year ended December 31, 2024: Jan. 1 Purchased a copyright for $117.480 cash. The copyright has a useful life of six years and a remaining legal life of 30 years. Mar. 1 Sept. 1 Dec. 31 Acquired a franchise with a contract period of nine years for $500,850; the expiration date is March 1, 2033, Paid cash of $38,820 and borrowed the remainder from the bank. Purchased a trademark with an indefinite life for $73,190 cash. As the purchase was being finalized, spent $33.150 cash in legal fees to successfully defend the trademark in court. Purchased an advertising agency for $640,000 cash. The agency's only assets reported on its statement of financial position immediately before the purchase were accounts receivable of $58,000, furniture of $170,000, and leasehold improvements of $320,000. Carla Vista hired an independent appraiser who estimated that the fair value of these assets was accounts receivable $58,000,…

Requirement 1. Journalize the adjusting entries using the letter and March 31 date in the date column. (Record debits first, then able. Check your spelling carefully and do not abbreviate. Use the account names provided in the problem.) a. Service revenue accrued, $600. Date (a) Mar. 31 Accounts and Explanation Debit Credit

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Required information [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of ACME Fireworks includes the following account balances: Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (68, due April 1, 2025) Common Stock Retained Earnings. Totals Debit $27,000 50,000 21,900 65,000 24,500 3. Prepare an adjusted trial balance as of January 31, 2024. $188,400 Credit $6,100 3,400 30,400 69,000 54,000 25,500 $188,400 During January 2024, the following transactions occur: January 2 Sold gift cards totaling $11,800. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $166,000. ACME uses the perpetual inventory system. January 15 Firework sales for the first half of the month total $154,000. All of these sales are on account. The cost of the units sold in…

On July 15, 2024, the Niche Car Company purchased 2,800 tires from the Treadwell Company for $35 each. The terms of the sale were 2/10, ¹/30 . Niche uses a perpetual inventory system and the net method of accounting for purchase discounts.

Can you please show me how to do the worksheet including the trial balance, adjustments, adjusted trial balance, income statement, and balance sheet. with the figures below the unadjusted trial balance should come equal $47,094. Adjustment column should be $4,040, and adjusted trial balance should equal $48,439. Please guide me in right direction.