2023 On December 1 2014 Westmoreland Company had the following account balances Debit Credit Cash 18 200 Accumulated Depreciation | Assignments Online
2023 On December 1 2014 Westmoreland Company had the following account balances Debit Credit Cash 18 200 Accumulated Depreciation | Assignments Online
Assignments Online 2023 Business Finance
|
|
Debit
|
|
Credit
|
|
Cash
|
$18,200
|
Accumulated Depreciation Equipment
|
$3,000
|
|
Notes receivable
|
2,000
|
Accounts payable
|
6,100
|
|
Accounts receivable
|
7,200
|
Common stock
|
50,000
|
|
Inventory
|
16,000
|
Retained earnings
|
14,200
|
|
Prepaid insurance
|
1,600
|
|
|
|
Equipment
|
28,000
|
|
|
|
|
$73,300
|
|
$73,300
|
1. Depreciation $200 per month.
2. Insurance expired $400.
Instructions
4. On December 31, the bank statement showed a NSF charge of $680 for a check received by the company from K. Quinn, a customer, on account.
Prepare a bank reconciliation as of December 31 based on the available information.
(d) Journalize the adjusting entries resulting from the bank reconciliation and adjustment data.
(e) Post the adjusting entries to the ledger T-accounts.
(f) Prepare an adjusted trial balance.
(g) Prepare an income statement for December and a classified balance sheet at December31.
Assignmentsonline.org help students to solve their assignment in the best possible manner. In the assignment help industry, we are regarded as one of the best helpers for students’ tasks in all subjects. We provide solutions to students from all corners of the world, but the main focus is from students residing in the US, UK, and Australia. Our primary focus is solving student assignments for all subjects and streams.
Place Order NOw
Assignment online is a team of top-class experts whose only goal is to give you the best assignment help service. Follow the link below to order now...
#write essay #research paper
