1. Cash is overstatei by 500.00 and Owners Equity is overstated by $500.00. 2. Utilities Expense of $300.00 was paid on January 25. 3. Insurance expense of $250.00 was paid on January 27. 4. supplies for the month in the amount of $450.00 was purchased. 5. Rent for $2000.00 for the month was paid on January 31. 6. The total revenue of $20,000.00 was collected in the month of January and deposited in the Bank. 8. Internet and Telephone expense for the month was $150.00 9. Advertising Expense for the month was $300.00. Required: Complete the above worksheet with the necessary adjusing or journal entries manually or utilize an excel worksheet if you can. Make the journal entries for thre above transactions or simply make adjusting entries to the worksheet provided. Prepare the Income Statement for Sample Co as of January 31, 2020.

1. Cash is overstatei by 500.00 and Owners Equity is overstated by $500.00. 2. Utilities Expense of $300.00 was paid on January 25. 3. Insurance expense of $250.00 was paid on January 27. 4. supplies for the month in the amount of $450.00 was purchased. 5. Rent for $2000.00 for the month was paid on January 31. 6. The total revenue of $20,000.00 was collected in the month of January and deposited in the Bank. 8. Internet and Telephone expense for the month was $150.00 9. Advertising Expense for the month was $300.00. Required: Complete the above worksheet with the necessary adjusing or journal entries manually or utilize an excel worksheet if you can. Make the journal entries for thre above transactions or simply make adjusting entries to the worksheet provided. Prepare the Income Statement for Sample Co as of January 31, 2020.

Name: Sample WorksheetWork SheetFor the Month Ended January 31, 2020Trial B
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Description: Sample WorksheetWork SheetFor the Month Ended January 31, 2020Trial BalanceAdjustmentsAdj. T/BalanceIncome StatementBalance SheetAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.13,20022,0005,40029,25022,0005,400Cash20,000 b-h3,95029,25022,000aCD'SOther S

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

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 6E: Balance Sheet Baggett Companys balance sheet accounts and amounts as of December 31, 2019, are shown...

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