chapter 4 Ultimate writer

Alert Security Services Co. offers security services to business clients. The adjusted trial balance is presented below.

Alert Security Services Co.

End-of-Period Spreadsheet

For the Year Ended October 31, 2016

1		Adjusted	Adjusted
2		Trial Balance	Trial Balance	Income Statement	Income Statement	Balance Sheet	Balance Sheet
3	Account Title	Debit	Credit	Debit	Credit	Debit	Credit
4	Cash	11.00
5	Accounts Receivable	106.00
6	Supplies	7.00
7	Prepaid Insurance	2.00
8	Land	184.00
9	Equipment	54.00
10	Accumulated Depreciation-Equipment		12.00
11	Accounts Payable		34.00
12	Wages Payable		3.00
13	Brenda Schultz, Capital		247.00
14	Brenda Schultz, Drawing	7.00
15	Fees Earned		225.00
16	Wages Expense	110.00
17	Rent Expense	13.00
18	Insurance Expense	12.00
19	Utilities Expense	7.00
20	Supplies Expense	4.00
21	Depreciation Expense	2.00
22	Miscellaneous Expense	2.00
23		$521.00	$521.00
24	Net income (loss)
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Prepare an income statement, statement of owner’s equity, and balance sheet for Alert Security Services Co. ( Note : Be sure to read the instructions for each financial statement carefully.)

Labels
Current assets
Current liabilities
Expenses
For the Year Ended October 31, 2016
October 31, 2016
Property, plant, and equipment
Revenues
Amount Descriptions
Add withdrawals
Brenda Schultz, capital, November 1, 2015
Brenda Schultz, capital, October 31, 2016
Decrease in owner’s equity
Increase in owner’s equity
Less withdrawals
Net income
Net loss
Total assets
Total current assets
Total expenses
Total liabilities
Total liabilities and owner’s equity
Total property, plant, and equipment
Total revenues

Prepare an income statement for the year ended October 31, 2016. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) on the income statement.

Alert Security Services Co.

Income Statement

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Prepare a statement of owner’s equity for the year ended October 31, 2016. No additional investments were made during the year. If a net loss has been incurred or there has been a decrease in owner’s equity, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items.

Alert Security Services Co.

Statement of Owner’s Equity

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Prepare a balance sheet for the year ended October 31, 2016. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary.

Alert Security Services Co.

Balance Sheet

1	Assets
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14	Liabilities
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19	Owner’s equity
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