Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Adjusted Trial Balance HELP!! (https://www.askmehelpdesk.com/showthread.php?t=816215)

  • Sep 15, 2015, 05:13 PM
    BriGuyHigh
    Adjusted Trial Balance HELP!!
    I'm really confused and bad at doing this, and I need major help

    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000]Problem 3-5A Preparing financial statements from theadjusted trial balance and calculating profit margin LO P3, A1, A2[/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000][The following information applies to the questionsdisplayed below.][/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000]The adjusted trial balance for Chiara Company as of December31, 2013, follows. [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Debit Credit [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Cash $ 50,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Accountsreceivable 72,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Interestreceivable 28,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Notes receivable(due in 90 days) 188,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Office supplies 26,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Automobiles 208,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Accumulateddepreciation—Automobiles $70,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Equipment 178,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Accumulateddepreciation—Equipment 38,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Land 98,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Accounts payable 196,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Interestpayable 26,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Salariespayable 29,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Unearned fees 50,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Long-term notespayable 148,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Common stock 20,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Retainedearnings 255,800 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Dividends 56,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Fees earned 524,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Interest earned 44,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Depreciationexpense—Automobiles 36,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Depreciationexpense—Equipment 28,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Salariesexpense 208,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Wages expense 60,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Interestexpense 34,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Office suppliesexpense 36,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Advertisingexpense 68,000 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Repairsexpense—Automobiles 26,800 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] Totals $1,400,800 $ 1,400,800 [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT][FONT=Calibri][SIZE=3][COLOR=#000000] [/COLOR][/SIZE][/FONT]
    [FONT=Times New Roman][SIZE=3][COLOR=#000000][/COLOR][/SIZE][/FONT]
  • Sep 15, 2015, 10:24 PM
    paraclete
    If your post is any indication I would say you need a lesson in basic computers your copy and paste has been unsuccessful if all else fails retype the data, show us your attempt at the problem and what issues you have
  • Sep 16, 2015, 02:24 PM
    ma0641
    WOW. You expect someone to read this? Did you?

    • All times are GMT -7. The time now is 11:31 AM.