Prepare an income statement and statement of retained earnings for the year ended December 31, 2011. Also prepare the company’s balance sheet dated December 31, 2011.

Mr. X was an employee with the following information from his employment in 2020. Salaries and wages - $27,000 RRSP contribution in 2020 - $5,500 Membership dues paid by Mr. X - $500   Calculate Mr. X's the net employment income for 2020?   Question 7 options:   a)  $21,500   b)  $27,500   c)  $21,000   d)  $27,000

Sheffield's Graphics has a December 31 year end. Sheffield's Graphics records adjusting entries on an annual basis. The following information is available.1. At the end of the year, the unadjusted balance in the Prepaid Insurance account was $2,950. Based on an analysis of the insurance policies, $2,550 had expired by year end.2. At the end of the year, the unadjusted balance in the Unearned Revenue account was $1,750. During the last week of December, $380 of the related services were performed.3. On July 1, 2024, Sheffield signed a one-year note payable for $9,000. The loan agreement stated that interest was 4%.4. Depreciation for the computer and printing equipment was $1,900 for the year.5. At the beginning of the year, Sheffield's had $700 of supplies on hand. During the year, $1,270 of supplies were purchased. A count at the end of the year indicated that $610 of supplies was left on December 31.6. Between December 28 and December 31 inclusive (4 days), three employees worked…

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On March 1, Gonzales Company purchased $2,280 of supplies on account. On March 1, Gonzales Company debited Supplies Expense, which is an alternate way of recording the initial expenditure. By the end of the calendar year, $350 of supplies was used. Required:Journalize the adjusting entry on December 31.

Brady Company debited prepaid supplies for $850 on 7/1 for office supplies it was planning to use over the next year. The company prepares monthly financial statements, and supplies of $550 remain at 7/31 failure to make an adjusting entry on 7/31 for the amount of supplies used would cause.

On November 30, 2019, Davis Company and the following account balances: 1. Prepare general journal entries to record preceding transactions. 2. Post to general ledger T-accou11ts. 3. Prepare a year-end trial balance on a worksheet and complete the worksheet using the following information: (a) accrued salaries at year-end total $1,200; (b ) for simplicity, the building and equipment are being depreciated using the stright-line method over an estimated life of 20 years with no residual all c) supplies on hand at the end of the year total $630; (d ) bad debts expense for the year totals $830; and (e ) the income tax rate is 30%; income taxes are payable in the first quarter of 2020. 4. Prepare company's financial statements for 2019 . 5. Prepare 2019 (a) adjusting and (b) closing entries in the general journal.

XYZ Company records its adjusting entries at the end of every month. The following accounts were taken from XYZ Company's adjusted trial balance at January 31, 2029: Prepaid Insurance $7,280 Insurance Expense $ 520 The prepaid insurance shown above relates to a policy that, when purchased, was a 3-year policy. Assume XYZ Company has a year-end of December 31. Calculate the number of months of the insurance policy that have expired (i.e., been used up).

I need help with: ·      Entering adjustments on the spreadsheet provided. ·      Using the new and adjusted totals, calculate the totals on the financial statements in the spaces provided.