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    Yolanda Reality Work Sheet For The Month Ended April 2020

    Uploaded by

    Hannah Dimalibot
    This document is Yolanda Reality's trial balance and adjustments for April 2020. It shows account balances from the trial balance, adjustments made, and the resulting adjusted balances for the income statement and balance sheet. Key adjustments include: (a) recording a $1,850 doubtful expense and allowance, (b) adjusting prepaid insurance, (c) adjusting supplies, (d) recording $12,000 and $9,000 in automobile and equipment depreciation expense, (e) recording $60,000 in salaries payable, and (f) recording $85,200 in fees receivable. The net income for the month is $114,557.

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    Yolanda Reality Work Sheet For The Month Ended April 2020

    Uploaded by

    Hannah Dimalibot
    44 views2 pages
    This document is Yolanda Reality's trial balance and adjustments for April 2020. It shows account balances from the trial balance, adjustments made, and the resulting adjusted balances for the income statement and balance sheet. Key adjustments include: (a) recording a $1,850 doubtful expense and allowance, (b) adjusting prepaid insurance, (c) adjusting supplies, (d) recording $12,000 and $9,000 in automobile and equipment depreciation expense, (e) recording $60,000 in salaries payable, and (f) recording $85,200 in fees receivable. The net income for the month is $114,557.

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    This document is Yolanda Reality's trial balance and adjustments for April 2020. It shows account balances from the trial balance, adjustments made, and the resulting adjusted balances for the income statement and balance sheet. Key adjustments include: (a) recording a $1,850 doubtful expense and allowance, (b) adjusting prepaid insurance, (c) adjusting supplies, (d) recording $12,000 and $9,000 in automobile and equipment depreciation expense, (e) recording $60,000 in salaries payable, and (f) recording $85,200 in fees receivable. The net income for the month is $114,557.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    44 views2 pages

    Yolanda Reality Work Sheet For The Month Ended April 2020

    Uploaded by

    Hannah Dimalibot
    This document is Yolanda Reality's trial balance and adjustments for April 2020. It shows account balances from the trial balance, adjustments made, and the resulting adjusted balances for the income statement and balance sheet. Key adjustments include: (a) recording a $1,850 doubtful expense and allowance, (b) adjusting prepaid insurance, (c) adjusting supplies, (d) recording $12,000 and $9,000 in automobile and equipment depreciation expense, (e) recording $60,000 in salaries payable, and (f) recording $85,200 in fees receivable. The net income for the month is $114,557.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Yolanda Reality

    Work Sheet

    For the Month Ended April 2020

    Account Title Trial Balance Adjustment Adjusted Trial Income Statement Balance Sheet
    Balance
    Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
    Cash 17,420 17,420 17,420
    Accounts Receivable 46,240 46,240 44,390
    .4
    Prepaid Insurance 2,970 b) 2,310 660 660
    Office Supplies 850 c) 213 637 637
    Automobile 48,000 48,000 48,000
    Accumulated Depreciation – Automobile 9,650 d) 12,000 21,650 21,650
    Office Equipment 31,600 31,600 31,600
    Accumulated Depreciation 7,000 d) 9,000 16,000 16,000
    Accounts Payable 1,480 1,480 1,480
    Yolanda, Capital 56,070 56,070 56,070
    Yolanda Drawing 40,000 40,000 40,000
    Revenue from Fees 269,120 f) 85,200 354,320 354,320
    Salary and Commission Expense 132,000 e) 60,000 192,000 192,000
    Rent Expense 12,000 12,000 12,000
    Advertising Expense 7,650 7,650 7,650
    Automobile Expense 2,830 2,830 2,830
    Miscellaneous Expense 1,760 1,760 1,760

    Doubtful Expense a)1,850 1,850 1,850


    Allowance for Doubtful Account a) 1,850
    Insurance Expense b) 2,310 2,310 2,310
    Office Supplies Expense c) 213 212.5 212.5
    Depreciation Expense – Automobile d) 12,000 12,000 12,000
    Depreciation Expense – Equipment d) 9,000 9,000 9,000
    Salaries Payable e) 60,000 60,000 60,000
    Fees Receivable f) 85,200 85,200 85,200
    170,573 170,573 511,370 511,370 241,613 356,170 267,90 155,20
    7.9 0
    Net Income 114,557 114,55
    7
    356,170 356,170 269,75 269,75
    7 7

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