Hello,I need help with preparing the worksheet. I always have a hard time preparing one. I was able to prepare the financial statements and closing entries. Any help will greatly be appreciated.Thank You! LO 3.6 LO 3.7 LO 3.8 Surian Motors Company prepared a trial balance on the followingpartially completed worksheet for the year ended December 31, 2019:123A45678Inventory9Prepaid Rent10Equipment11 Accumulated Depreciation12Accounts Payable13Note Payable (due 7/1/20)14 Common Stock (1,000 shares)AccountsCashAccounts ReceivableAllowance for Doubtful Accounts15 Retained Earnings (1/1/19)16 Dividends171819 Salaries Expense20Utilities ExpenseSales RevenuesCost of Goods Sold21 Advertising Expense22Totals23BTrial BalanceCreditDebit2,5004,0008,2003,60030,0001,00021,0007,100с3,3004,40085,10030012,0003,7005,0008,90010,20045,00085,100DEAdjustmentsDebit CreditFGHIncomeStatementTJKRetainedEarningsStatementBalanceSheetDebit Credit Debit Credit Debit Credit+Additional information: (a) The equipment is being depreciated on a straight-line basis over a 10-year life, with no residual value; (b) salaries accrued but not recorded total $500; (c) on January 1,2019, the company had paid 3 years' rent in advance at $100 per month; (d) bad debts areexpected to be 1% of total sales; (e) interest of $400 has accrued on the note payable; and (f) theincome tax rate is 40% on current income and will be paid in the first quarter of 2020.

Name: Hello,I need help with preparing the worksheet. I always have a hard t
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Description: Hello,I need help with preparing the worksheet. I always have a hard time preparing one. I was able to prepare the financial statements and closing entries. Any help will greatly be appreciated.Thank You! LO 3.6 LO 3.7 LO 3.8 Surian Motors Company pr

Introduction: The aim of adjusted trial balance is that shows that all amounts of "debits" against…

Business

Accounting

LO 3.6 LO 3.7 LO 3.8 Surian Motors Company prepared a trial balance on the following partially completed worksheet for the year ended December 31, 2019: 1 2 3 4 A Accounts B C Trial Balance Debit Credit 2 500 Adjustments Debit Credit F G Debit Income Statement H J K Retained Earnings Statement Balance Sheet Credit Debit Credit Debit Credit +

LO 3.6 LO 3.7 LO 3.8 Surian Motors Company prepared a trial balance on the following partially completed worksheet for the year ended December 31, 2019: 1 2 3 4 A Accounts B C Trial Balance Debit Credit 2 500 Adjustments Debit Credit F G Debit Income Statement H J K Retained Earnings Statement Balance Sheet Credit Debit Credit Debit Credit +

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 16E

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