A six-column table for JJW Company follows. The first two columns contain the unadjusted trial balance for the company

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The following information applies to the questions displayed below.) A six-column table for JJW Company follows. The first two columns contain the unadusted trial balance for the company as at July 31, 2015. The last two columns contain the adjusted trial balance as at the same date. Trial Balance Trial Balance 100,610 100,610 Accounts receivable 10,000 22,500 Office supplies 18,400 4,500 Prepaid insurance 3,960 Office equipment 88,000 88,000 s 24.000 Accum. Depreciation office equip. 32,000 11100 22,000 Interest payable Salaries payable Unearned consulting fees 32,000 Long-term notes payable 50,000 J. Winner, Capital 44,000 J. Winner, Withdrawals 8,000 onsulting fees earned 199,500 Depreciation expense-office equip. 67,410 84,410 Insurance expense 6.580 1.580 Office supplies expense 13,900 12.250 23150 331,100 331100 382,000 $382,000 10.00 points MacBook Pro R

Required
Analysis Component
1. Analyze the differences between the unadjusted and adjusted trial balances to determine the eight adjustments that likely were made. Show the results of your analysis by inserting these adjustment amounts in the table’s two middle columns. Label each adjustment with a letter a through h and provide a short description of it at the bottom of the table.
Preparation Component
2. Use the information in the adjusted trial balance to prepare the company’s 
(a) Income statement and its statement of owner’s equity for the year ended July 31, 2015. 
(b) The balance sheet as of July 31,2015.

 

  • 9 years ago
A six-column table for JJW Company follows. The first two columns contain the unadjusted trial balance for the company
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    a_six-column_table_for_jjw_company.xls