Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Hakik Enterprises offers rug cleaning services to business clients. Below is the trial balance for Hakik Enterprises, which was prepared on the end of period spreadsheet (work sheet) for the year ended July 31, 2010.
Hakik EnterprisesEnd of Period Spreadsheet (Work Sheet)For the Year Ended July 31, 2010
Trial Balance
Adjustments
Adjusted Trial Balance
Debit
Credit
Cash
36
Prepaid Insurance
12
Fees Receivable
56
Supplies
Equipment
60
Accum. Depreciation
Unearned Revenue
20
Accounts Payable
32
Wages Payable
Ramon Hakik, Capital
84
Ramon Hakik, Drawings
4
Service Revenue
80
Advertising Expense
28
Wage Expense
Insurance Expense
Supplies Expense
Depreciation Expense
Totals
228
REQUIRED: Enter the adjustment data in the work sheet for the transactions shown below and place the balances in the Adjusted Trial Balance columns.a) The equipment is estimated to last for 5 years with no salvage value. The asset will be depreciated evenly over its useful life. Record one months depreciation.b) Accrued Wages $2.c) Unused supplies on hand $8.d) Of the unearned revenue, 75% has been earned.e) Unexpired insurance remaining at the end of the month, $9.
Prepare a statement of cash flows for 2011. Use the direct method for reporting operating activities, refer to the above situation.
Compute the sales level required in both dollars and units to earn $210,000 of after-tax income in 2010 with the machine installed and no change in unit sales price. Assume that the income tax rate is 30%.
Describe the evolving accounting standards for recording and translating foreign exchange related transactions and financial statements?
What information were you able to glean about the financial situation of this company from the financials and how does this accounting information impact business decisions?
Prepare the stockholders' equity section of Blank Company's balance sheet at May 31, 2010. Net Income earned during the first three months was $15,000.
compute the npv irr pi the payback periods and the discounted payback periods for the following projects. assume a
The cost of equipment purchased by Charleston, Inc., on June 1, 2010 is $89,000. It is estimated that the machine will have a $5,000 salvage value at the end of its service life - Compute depreciation expense on the machine for the year ending Dec..
Explain how the offshore oil platform should be treated in the financial statements of Peppel Corporation for the year ended 31 December 2012.
How has the concept of asset impairment changed accounting for long lived assets under the historical cost model?
maui juda sunglasses sell for about 154 per pair.nbsp suppose the company incurs the following average costs per
Prepare the entry to record issuance of the convertible bonds and prepare the entry to record interest expense at October 1, 2011.
The Draber Company uses the allowance method based on the aging method to determine the estimated allowance for doubtful accounts- Given the above information, determine the estimated allowance for doubtful accounts at the end of the period.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd