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    Fa1 Quiz4 Problem

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    Six Paths Itachi
    This document contains an income statement, balance sheet, and explanations of adjustments for a company. The income statement shows revenues of $6,840 and expenses of $5,190, resulting in net income of $1,650. The balance sheet lists the company's assets (including $4,100 in cash and $3,800 in accounts receivable) and liabilities (such as $2,100 in accounts payable and $900 in salaries and wages payable). Adjustments were made to account for supplies expenses, unearned revenue, accrued salaries, and uncollected receivables.

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    Fa1 Quiz4 Problem

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    Six Paths Itachi
    24 views1 page
    This document contains an income statement, balance sheet, and explanations of adjustments for a company. The income statement shows revenues of $6,840 and expenses of $5,190, resulting in net income of $1,650. The balance sheet lists the company's assets (including $4,100 in cash and $3,800 in accounts receivable) and liabilities (such as $2,100 in accounts payable and $900 in salaries and wages payable). Adjustments were made to account for supplies expenses, unearned revenue, accrued salaries, and uncollected receivables.

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    This document contains an income statement, balance sheet, and explanations of adjustments for a company. The income statement shows revenues of $6,840 and expenses of $5,190, resulting in net income of $1,650. The balance sheet lists the company's assets (including $4,100 in cash and $3,800 in accounts receivable) and liabilities (such as $2,100 in accounts payable and $900 in salaries and wages payable). Adjustments were made to account for supplies expenses, unearned revenue, accrued salaries, and uncollected receivables.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    24 views1 page

    Fa1 Quiz4 Problem

    Uploaded by

    Six Paths Itachi
    This document contains an income statement, balance sheet, and explanations of adjustments for a company. The income statement shows revenues of $6,840 and expenses of $5,190, resulting in net income of $1,650. The balance sheet lists the company's assets (including $4,100 in cash and $3,800 in accounts receivable) and liabilities (such as $2,100 in accounts payable and $900 in salaries and wages payable). Adjustments were made to account for supplies expenses, unearned revenue, accrued salaries, and uncollected receivables.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Unadjusted T.B. Adjustments Adjusted T.B.

    Income Statement Balance Sheet


    Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
    Cash 4,100 4,100 4,100
    Accounts Receivable 3,200 600 3,800 3,800
    Supplies 800 300 500 500
    Equipment 10,600 10,600 10,600
    Accumulated Depreciation 1,350 1,350 1,350
    Accounts Payable 2,100 2,100 2,100
    Salaries and Wages Payable 700 200 900 900
    Unearned Service Revenue 890 790 100 100
    Owner's Capital 12,900 12,900 12,900
    Service Revenue 5,450 1,390 6,840 6,840
    Salaries and Wages Expense 3,300 200 3,500 3,500
    Advertising Expense 600 600 600
    Miscellaneous Expense 290 290 290
    Depreciation Expense 500 500 500
    Total 23,390 23,390

    Supplies Expense 300 300 300


    Total 1,890 1,890 24,190 24,190 5,190 6,840 19,000 17,350
    Net Income 1,650 1,650
    Total 6,840 6,840 19,000 19,000

    Adjustments:

    a. Supplies Exp 300


    Supplies 300

    b. Unearned Service revenue 790


    Service Revenue 790

    c. Salaries and Wages Expense 200


    Salaries and Wages Pay. 200

    d. Accounts receivable 600


    Service Revenue 600

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