- The Completed Worksheet For Chavarria Corporation As Of December 31 20x1 After The Company Had Completed The First Mon 1 (49.14 KiB) Viewed 185 times
The completed worksheet for Chavarria Corporation as of December 31, 20X1, after the
company had completed the first month of operation, appears below. Income
Statement Debit Credit Account Name Cash Accounts receivable Supplies Prepaid advertising Equipment Accumulated depreciation Equipment Accounts payable Isabel Chavarria, Capital Isabel Chavarria, Drawing Fees income Supplies expense Advertising expense Depreciation expense-Equipment Salaries expense Utilities expense Totals Net income CHAVARRIA CORPORATION Worksheet Month Ended December 31, 20x1 Adjusted Trial Trial Balance Adjustments Balance Debit Credit Debit Credit Debit Credit 77, DDD 77,600 11,800 9,760 11, 880 5,00 3,900 13, 200 2,200 11,690 90, ODE 90,620 1, 809 1,800 11,90 11,800 167,820 107,900 7.DE 7,600 167,300 107, 300 5,800 5,800 2,200 2,200 1,880 16, 680 16, 680 1,600 1, 680 226, 900 226,900 9,800 9, BOB 228,700 228,700 Balance Sheet Debit Credit 77,000 11,800 3,900 11,000 90, DDE 1,800 11,800 167,80 7,000 107, 300 1,800 5,800 2,200 1,800 16. Gee 1,600 28,000 79, 300 107, 300 127,300 200, 700 121, 489 79, 39 286,700 200, 700 127,300 Required: 1. Prepare an income
statement 2. Prepare a
statement of owner's equity. The owner made no additional investments during the month. 3. Prepare a balance sheet. Analyze: If the adjustment to Prepaid Advertising had been $4,400 instead of $2,200, what net income would have resulted?
Complete this
question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare an income
statement. CHAVARRIA CORPORATION Income
Statement Month Ended December 31, 20X1 Revenue Expenses Total expenses 0 $ 0 Required Required 2 >
Complete this
question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a
statement of owner's equity. The owner made no additional investments during the month. CHAVARRIA CORPORATION
Statement of Owner's Equity Month Ended December 31, 20X1 0 S 0 < Required 1 Required 3 >
Complete this
question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a balance sheet. CHAVARRIA CORPORATION Balance Sheet December 31, 20X1 Assets $ 0 Total Assets Liabilities and Owner's Equity Liabilities Owner's equity Total Liabilities and Owner's Equity $ 0 < Required 2 Analyze >
Complete this
question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze If the adjustment to Prepaid Advertising had been $4,400 instead of $2,200, what net income would have resulted? Net income < Required 3 Analyze