70.2K

Verified Solution

Question

Accounting

image
image
image
image
Required: 1. Prepare the Trisl Balance section of a 10 -column workheet. The worksheet covers the year ended December 31, 20X1 2. Enter the adjustments above in the Adjustments section of the worksheet. 3. Complete the worksheet. Analyre: What was the amount of revenue eamed by conducting seminars during the year ended December 31, 20x1? Complete this question by entering your answers in the tabs below. Complete the worksheet Note: Enter both the debit and credit effects wherever required. Round your intermediste calculations and final answers to 2 decimal places. Acoourats Payabia Mapes Payile Socal Socuriv Tax Paynele Medicare Tax Peysbie Unearned S4mitar Fees Irterest Payable Anthony Poete, Captar Acthory Pocle, Oruwing incore Sirnmiry Bawe flales Docounts Geminar Fo incame Purhmes Puwhates Retums and Nlowances Finuth in Renc Coperae Wispe Reserne Payrol Tixes Eapenae Depratiation Ecense-Giose Equonent Allerting Expense Gupoles Eipanse intareat Ekence. Tocais Net incocese Analyan The Artisan Wines is a retail store selling fine wines. On December 31,201, the firm's general fedger contained the accounts and balances below. All account balances are normal. a.-b. Merchandise inventory at December 31,201, was counted and determined to be $12,400. c. The amount recorded as prepaid advertising represents $720 paid on September 1,201, for 12 months of advertising. d. The amount of supplies on hand at December 31 was $120. e. Depreciation on store equipment was $3,225 for 201. f. Depreciation on office equipment was $1,100 for 201. g. Unearned Seminar Fees represent $7,000 received on November 1, 20X1, for five seminars. At December 31, four of these seminars had been conducted. h. Wages owed but not paid at December 31 were $600. 1. On December 31, 20X1, the firm owed the employer's social security tax (\$37.20) and Medicare tax (\$8.70). 1. The note payable bears interest at 7 percent per annum. Two months interest is owed at December 31,201

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students