0% Plagiarism Guaranteed & Custom Written

The following are the unadjusted balances in the accounts

24 / 01 / 2019 Assignments

This paper circulates around the core theme of The following are the unadjusted balances in the accounts together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 79. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

The following are the unadjusted balances in the accounts

Question 1The following are the unadjusted balances in the accounts of (Name of Student) Trading Ltd. for the fiscal year ended 9/30/2011 $ Cash 28,750 Accounts receivable 32,900Prepaid insurance 4,800 Stores supplies 12,400Inventory 36,000 Stores equipment 32,300Acc. Depreciation – Stores equipment 9,300 Manufacturing equipment 98,500Acc. Depreciation – Manufacturing equipment 23,850 Accounts payable 15,430Notes payable 50,000 Unearned revenue 33,000Common stock 90,000 Dividends paid 15,000Retained earnings ? Sales 185,700 Dividend received on investment 6,450 Sales discounts 10,100Sales returns and allowances 2,095 Purchases 98,000Purchases returns and allowances 9,250 Transportation-in 3,250Transportation-out 1,820 Salaries expense 30,425Rent expense 18,000 Advertising expense 7,600Utilities expense 5,900(The company uses a periodic inventory system).Required:1. Prepare the adjusting entries to reflect the items below, using a work sheet. a) Stores supplies still available at the year end is $3,800 b) Expired insurance for the year is $3,600 c) Depreciation expense on store equipment is $2,550 for the year. d) Depreciation expense for manufacturing equipment is 12.5% of the book balance. e) A physical check reveal that $21,000 of inventory is in warehouse at fiscal year end. f) $20,000 of the balance in unearned income was earned in the fiscal year. g) Interest on notes payable is 12% per annum. The $50,000 note was a bank loan taken on 2/15/2011 to be repaid in full in twelve months.(You may need to add some more accounts).2. Prepare closing entries, a multi-step income statement and a statement of retained earnings for the company.3. Prepare a balance sheet, in classical form, as at 9/30/2011


100% Plagiarism Free & Custom Written


International House, 12 Constance Street, London, United Kingdom,
E16 2DQ

Company # 11483120

STILL NOT CONVINCED?

We've produced some samples of what you can expect from our Academic Writing Service - these are created by our writers to show you the kind of high-quality work you'll receive. Take a look for yourself!

View Our Samples

Benefits You Get

  • Free Turnitin Report
  • Unlimited Revisions
  • Installment Plan
  • 24/7 Customer Support
  • Plagiarism Free Guarantee
  • 100% Confidentiality
  • 100% Satisfaction Guarantee
  • 100% Money-Back Guarantee
  • On-Time Delivery Guarantee
FLAT 25% OFF ON EVERY ORDER. Use "FLAT25" as your promo code during checkout