The following additional information is available at June 30, 2022: (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) Store Supplies on hand at June 30, 2022 amounted to $159,500. Insurance of $202,050 was paid on April 1, 2022, for 9-months to December 2022 Rent was prepaid on March 1, 2022, for 7-months to September 2022. (xi) The furniture and fixtures have an estimated useful life of 10 years and is being depreciated on the straight-line method down to a residual value of $10,000. The motor truck was acquired on November 1, 2021, and is being depreciated over 5 years on the double-declining balance method of depreciation, down to a residue of $15,000 Salaries earned by employees not yet paid amounted to $182,500 at June 30, 2022. Accrued interest expense as of June 30, 2022, $65,000. On June 30, 2022, $145,000 of the previously unearned sales revenue had been earned. The aging of the Accounts Receivable schedule at June 30, 2022 indicated that the Allowance for Bad Debts should be $130,000. After making all other adjustments, a physical count of inventory was done, which reveals that there was $1,295,500 worth of inventory on hand at June 30,2022 Other data: The business is expected to make principal payments totalling $455,000 towards the loan during the fiscal year to June 30,2023

Pharoah Salon Inc.'s general ledger at April 30, 2025, included the following: Cash $5,400, Supplies $540, Equipment $25,920, Accounts Payable $2,270, Notes Payable $10,800, Unearned Service Revenue (from gift certificates) $1,080, Common Stock $5,400, and Retained Earnings $12,310. The following events and transactions occurred during May Paid rent for the month of May $1,080. Paid $1,190 of the account payable at April 30. Issued gift certificates for future services for $1,620 cash. Received $1,300 cash from customers for services performed. Paid $1,300 in salaries to employees. Received $860 in cash from customers for services performed. Customers receiving services worth $760 used gift certificates in payment. Paid the remaining accounts payable from April 30. Received $1.080 in cash from customers for services performed. 22 Purchased supplies of $760 on account. All of these were used during the month Received a bill for advertising for $540. This bill is due on June 13. Received…

Adjusting Entries and Financial Statements You have the following unadjusted trial balance for Rogers Corporation at December 31, 2019: Rogers Corporation Unadjusted Trial Balance December 31, 2019 Account Debit   Credit Cash $ 3,100         Accounts Receivable 15,900         Supplies 4,200         Prepaid Rent 9,500         Equipment 625,000         Accumulated Depreciation       $ 104,000   Other Assets 60,900         Accounts Payable       9,400   Unearned Service Revenue       11,200   Note Payable (due 2022)       50,000   Common Stock       279,500   Retained Earnings, 12/31/2018       37,000   Service Revenue       598,000   Wages Expense 137,000         Rent Expense 229,000         Interest Expense 4,500            Total $1,089,100     $1,089,100     At year end, you have the following data for adjustments: An analysis indicates that prepaid rent on December 31 should be $2,300. A physical inventory shows that $650 of office…

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Income StatementThe revenues and expenses of Sentinel Travel Service for the year ended August 31, 2019, follow:Fees earned$958,865Office expense220,540Miscellaneous expense19,175Wages expense460,255 Prepare an income statement for the year ended August 31, 2019.Sentinel Travel ServiceIncome StatementFor the Year Ended August 31, 2019     $Expenses:     $           Total expenses       $

Closing entry post closing entry financial statement analysis   H AND H TOOLS INC. december 2021

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Financial statements and closing entriesThe Gorman Group is a financial planning services firm owned andoperated by Nicole Gorman. As of October 31, 2019, the end of the fiscal year, the accountant for The Gorman Group prepared an end-of-periodspreadsheet, part of which follows: (attached)   Instructions1. Prepare an income statement, a statement of stockholders'equity, and a balance sheet. During the year, no additional commonstock was issued. 2. Journalize the entries that were required to close the accounts atOctober 31.3. If the balance of Retained Earnings had instead increased$115,000 after the closing entries were posted, and the dividendsremained the same, what would have been the amount of netincome or net loss?

You have been provided with the following trial balance of Comvita for year ended 31st March and the management have requested you to apply accounting principles to prepare balance sheet and income statement for year ending 31st March 2019 and based on it  provide an financial statement analysis reflecting the financial position of the Comvita to inform internal and external stakeholders.   Trial Balance for Comvita Year Ended  March 31, 2019 All figures are in ‘000 Account Name Debt Account Name Credit Accounting Fee 9000 Accounts payable 63600 Accounts receivable 286650 Accumulated Depreciation – Motor Vehicle 30000 Advertising 6000 Accumulated Depreciation –  Office Equipment 6000 Bad Debts 1500 Mortgage-non current 282600 Bank 60240 Discount Received 31200 Bank Fees 300 Allowance for Doubtful Debts 2865 Freight Out 36000 Retained earnings 1365000 Cost of goods sold 630000 Sales 1218300…