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    Kg07's Avatar
    Kg07 Posts: 1, Reputation: 1
    New Member
     
    #1

    Oct 21, 2012, 08:23 AM
    How do you find revenue
    I really need help with this question I have tried it and for nothing I am getting the trial balance to balance and preparing the financial statements are difficult. Please Help.

    Rampersad Company
    Trial Balance
    March 31, 2001
    Debit Credit
    Cash $8,400
    Accounts Receivable 70,400
    Office Supplies 1,000
    Vehicles 92,000
    Accumulated Depreciation: Vehicles 18,400
    Accounts Payable 22,000
    Unearned Service Revenue 24,000
    Bank Loan Payable 70,800
    S. Rampersad, Capital 28,600
    S. Rampersad, Drawing 8,000
    Service Revenue 46,000
    Rent Expense 10,000
    Wage Expense 16,000
    Telecommunication Expense 4,000
    Equals----- $209,800 $209,800

    The additional information below has come to your attention:
    1. Services provided but not yet billed, $9,400.
    2. Office supplies on hand as at March 31, $200.
    3. Depreciation Expense on the vehicles, $9,200.
    4. Remaining unearned service revenue as at March 31, $6,000.
    5. Accrued interest on the bank loan payable $600.
    6. Wages accrued, $1,500.
    Required
    a. Prepare Rampersad’s adjusting entries in General Journal form.
    b. Prepare an adjusted trial balance.
    c. Prepare financial statements for the period ending 31 March, 2001.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
     
    #2

    Oct 21, 2012, 02:11 PM
    Given that your question doesn't format properly assumptions have to be made

    You are given revenue and expenses so this is a straight forward exercise

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