Preparing a work sheet, adjusting and closing entries, and financial statements

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Page 155The following unadjusted trial balance is for Ace Construction Co. as of the end of its 2019 fiscal year. The June 30, 2018, credit balance of the owner’s capital account was $53,660, and the owner invested $35,000 cash in the company during the 2019 fiscal year.

 

Required

Prepare and complete a 10-column work sheet for fiscal year 2019, starting with the unadjusted trial balance and including adjustments based on these additional facts.
The supplies available at the end of fiscal year 2019 had a cost of $3,300.
The cost of expired insurance for the fiscal year is $3,800.
Annual depreciation on equipment is $8,400.
The June utilities expense of $650 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $650 amount owed needs to be recorded.
The company’s employees have earned $1,800 of accrued and unpaid wages at fiscal year-end.
The rent expense incurred and not yet paid or recorded at fiscal year-end is $500.
Additional property taxes of $1,000 have been assessed for this fiscal year but have not been paid or recorded in the accounts.
The $250 accrued interest for June on the long-term notes payable has not yet been paid or recorded.
Using information from the completed 10-column work sheet in part 1, journalize the adjusting entries and the closing entries.
Prepare the income statement and the statement of owner’s equity for the year ended June 30 and the classified balance sheet at June 30, 2019.Check (3) Net income, $30,890; Total assets, $122,550; Current liabilities, $11,000

Sample Solution

 

The Fickleness of Dreams, Brilliance of Samuel T. Coleridge

Samuel T. Coleridge is a gifted however flimsy author. A significant number of his extraordinary works were composed when they “pursued the monster” (on the grounds that the individuals at the time knew about opium harming). I picked up motivation. The spearheading work in Coleridge’s life is a short sonnet called “Kubla Khan” or “Vision in a fantasy”. As indicated by Coleridge, this is just a piece of the entire … he imagined an epic work of around 2,300 lines which is an epic. paper

“Kublah Khan” Samuel Coleridge’s sonnet “Kubla Khan” is a case of sentimental creation. It utilizes the ideal cycle to catch the fantasies of different universes. By utilizing a solid picture, Coleridge made a heaven like a rich scene of such a dream, encircled by an arch named by the primary character Kublah Khan. This implies the topic of verse, that is, the significant part of differentiation among man and nature. The principle subject of this work incorporates different pictures.

In Samuel Taylor Coleridge ‘s sonnet “Kubla Khan”, the storyteller gives a progression of brilliant pictures identified with the nonexistent “Cheerful Dome” worked by Mongolian sovereign Kublai Khan. – The more decisions you settle on an everyday choice, the more troublesome it is to survey opportunity costs for a specific alternative. Everybody has a difficulty at a phase in their life, it is likely imperative to change their predetermination; a few people think twice about it while others are glad. This is the situation for a talker of “Untaken Path” by Robert Frost who needs to pick his own predetermination.

Samuel Taylor Coleridge (1772-1834) was an individual from the British sentimental artist and “Lake Poet”. Coleridge ‘s well known sonnet incorporates old mariners Rime, Christabel and Kubla Khan. Coleridge helped England bring German optimistic ideas. (A significant piece of sentimentalism) Camille Saint-Saëns (1835 – 1921) French author, conductor and musician. The popular works incorporate the second piano concerto (1868), the first cello concerto (1872), the Danse Macabre (1874), the drama “Samson and Delilah” (1877), the third violin concerto (1880) And so on. ) And “Creature jubilee” (1887)

Basic Analysis of William Wordsworth and Samuel Taylor Colleric William Wordsworth and Samuel Taylor Coleridge were first delivered in the UK in the late eighteenth and mid nineteenth hundreds of years. Composing development for outside way of thinking. Wordsworth and ST Cole Ridge are regularly viewed as pioneers of the British Romantic development, however their aggregate philosophy and reasoning are frequently censured, yet they are truly taken by journalists because of the extraordinary distinction as an artist It is once in a while taken to. General Efforts … The abstract sentimental period from 1798 to 1832 was the time for the artistic style of the eighteenth century. This period is brimming with writers who dedicated confidence to their work and verse, for example, William Wordsworth, an exceptionally well known sentimental artist of this time. Interestingly, during the Victorian time, the artists expounded on their condition and had a skeptical perspective on life.

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