Appendix 1: Financial Statements From an End-of-Period Spreadsheet Alert Securit
ID: 2408103 • Letter: A
Question
Appendix 1: Financial Statements From an End-of-Period Spreadsheet Alert Security Services Co. offers security services to business clients Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 2018 Adjusted Trial Balance Income Statement Balance Sheet Account Title Cash Accounts Receivable Supplies Prepaid Insurance Land Equipment Accum. Depr Equipment Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Insurance Expense Utilities Expense Supplies Expense Depreciation Expense Equip. Miscellaneous Expense Dr. 262 1,918 87 65 2,180 872 Cr. Dr. Cr. Dr. Cr. 174 785 87 40 3,754 174 2,136 523 262 218 153 131 87 6,976 6,976Explanation / Answer
Answers
Adjusted Trial Balance
Income Statement
Balance Sheet
Dr
Cr
Dr
Cr
Dr
Cr
Cash
$ 262.00
$ 262.00
Accounts receivables
$ 1,918.00
$ 1,918.00
Supplies
$ 87.00
$ 87.00
Prepaid Insurance
$ 65.00
$ 65.00
Land
$ 2,180.00
$ 2,180.00
Equipment
$ 872.00
$ 872.00
Accum Depr Equipment
$ 174.00
$ 174.00
Accounts payable
$ 785.00
$ 785.00
Wages payable
$ 87.00
$ 87.00
Common Stock
$ 40.00
$ 40.00
Retained Earnings
$ 3,754.00
$ 3,754.00
Dividends
$ 174.00
$ 174.00
Fees Earned
$ 2,136.00
$ 2,136.00
Wages Expenses
$ 523.00
$ 523.00
Rent Expenses
$ 262.00
$ 262.00
Insurance expenses
$ 218.00
$ 218.00
Utilities expenses
$ 153.00
$ 153.00
Supplies expenses
$ 131.00
$ 131.00
Depreciation expense Equip
$ 87.00
$ 87.00
Miscellaneous expense
$ 44.00
$ 44.00
Totals
$ 6,976.00
$ 6,976.00
$ 1,418.00
$ 2,136.00
$ 5,558.00
$ 4,840.00
Net Income
$ 718.00
$ 718.00
Totals
$ 2,136.00
$ 2,136.00
$ 5,558.00
$ 5,558.00
Fees Earned
$ 2,136.00
Expenses:
Wages Expenses
$ 523.00
Rent Expenses
$ 262.00
Insurance expenses
$ 218.00
Utilities expenses
$ 153.00
Supplies expenses
$ 131.00
Depreciation expense Equip
$ 87.00
Miscellaneous expense
$ 44.00
Total Expenses
$ 1,418.00
Net Income
$ 718.00
Beginning Balance
$ 3,754.00
Add: Net Income
$ 718.00
Less: Dividends
$ 174.00
Increase (decreased)
$ 544.00
Ending Retained earning balance
$ 4,298.00
ASSETS
Current Assets:
Cash
$ 262.00
Accounts receivables
$ 1,918.00
Supplies
$ 87.00
Prepaid Insurance
$ 65.00
Total Current Assets
$ 2,332.00
Plant , Property & Equipment:
Land
$ 2,180.00
Equipment
$ 872.00
Accum Depr Equipment
$ (174.00)
Equipment , net
$ 698.00
Total Property, Plant Equipment
$ 2,878.00
Total ASSETS
$ 5,210.00
LIABILITIES
Current Liabilities:
Accounts payable
$ 785.00
Wages payable
$ 87.00
Total Liabilities
$ 872.00
STOCKHOLDERS' EQUITY
Common Stock
$ 40.00
Retained Earnings
$ 4,298.00
Total Stockholder's Equity
$ 4,338.00
Total LIABILITIES & STOCKHOLDERS' EQUITY
$ 5,210.00
Adjusted Trial Balance
Income Statement
Balance Sheet
Dr
Cr
Dr
Cr
Dr
Cr
Cash
$ 262.00
$ 262.00
Accounts receivables
$ 1,918.00
$ 1,918.00
Supplies
$ 87.00
$ 87.00
Prepaid Insurance
$ 65.00
$ 65.00
Land
$ 2,180.00
$ 2,180.00
Equipment
$ 872.00
$ 872.00
Accum Depr Equipment
$ 174.00
$ 174.00
Accounts payable
$ 785.00
$ 785.00
Wages payable
$ 87.00
$ 87.00
Common Stock
$ 40.00
$ 40.00
Retained Earnings
$ 3,754.00
$ 3,754.00
Dividends
$ 174.00
$ 174.00
Fees Earned
$ 2,136.00
$ 2,136.00
Wages Expenses
$ 523.00
$ 523.00
Rent Expenses
$ 262.00
$ 262.00
Insurance expenses
$ 218.00
$ 218.00
Utilities expenses
$ 153.00
$ 153.00
Supplies expenses
$ 131.00
$ 131.00
Depreciation expense Equip
$ 87.00
$ 87.00
Miscellaneous expense
$ 44.00
$ 44.00
Totals
$ 6,976.00
$ 6,976.00
$ 1,418.00
$ 2,136.00
$ 5,558.00
$ 4,840.00
Net Income
$ 718.00
$ 718.00
Totals
$ 2,136.00
$ 2,136.00
$ 5,558.00
$ 5,558.00
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