a,b,c,d,e Many companies must file financial reports with the SEC. Many of these

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a,b,c,d,e

Many companies must file financial reports with the SEC. Many of these reports are available electronically through the EDGAR database. EDGAR is an acronym for Electronic Data Gathering. Analysis, and Retrieval system, and it is accessible through the World Wide Web on the internet. Instruction for using EDGAR are in Appendix A. Using the most current 10-K available on EDGAR or on the company's answer the following questions about Nike company: In what year did Nike begin operations? Other than the Nike brand, what business does Nike operate? How many employees does Nike have? Describe, in dollar amounts, Nike's accounting equation at the end of the most recent year. Has Nike's performance been improving or deteriorating over the past three years? Explain your answer. Adams Company started operations on January 1, 2013. Six months later on June 30, 2013, the company decided to prepare financial statements. The company's accountant decided to problem solve for the adjusting journal entries and the final adjusted account balances by using an electronic spreadsheet. Once the spreadsheet is complete, she will record the adjusting entries in the general journal and post to the ledger. The accountant has started the following spreadsheet but wants you to finish it for her. On a blank spreadsheet, enter the following trial balance in Columns A through C. Also enter the headings for Columns E through I. On January 1 invested in a one-year, $10,000 certificate of deposit that has a 5 percent interest rate. On January 1 paid $12,000 in advance for a one-year on office space. Received in the mail a utility bill dated June 30 for $150. Purchased $1,500 of supplies on January 1. As of June 30,$700 of supplies remained on hand Develop formulas to sum both the Debit and Credit columns under the Adjusting Journal Entries heading. Develop formulas to derive the adjusted balances for the adjusted trail balance. For example, the formula for the ending balance of Unearned Revenue is =C10-E10-G10. In other words, a credit balance minus debit entries plus credit entries equals the ending copied to all other credit account; the same is true for debit accounts, Once an ending balance is formulated for a debit account, that formula can be copied to all other debit accounts. Develop formulas to sum both the Debit and Credit columns under the Adjusted Trial Balance heading. Rows and columns can be inserted by positioning the mouse on the immediate row or column after desired position. Click on the right mouse button. With the left mouse button, choose Insert and then either Entire Column or Entire Row. Use the same method to delete columns or rows. Enter the sequential numbering of the adjusting entries as labels rather than values by positioning an apostrophe in front of each entry should be labeled '(1). At the end of the accounting period, Adams Company's general ledger contained the following adjusted balances:

Explanation / Answer

Trial Balance Adjusting Entries Adjusted Trial balance Accounts Title Dr Cr Dr Cr Dr Cr Cash 1500 1500 Certificate of Deposits 10000 10000 Accounts Receivable 12000 12000 Supplies 1500 6 800 700 Prepaid Rent 12000 4 6000 6000 Office Equipment 9000 9000 Accumulated Depreciation 7 1000 1000 Accounts Payable 2500 2500 Salaries Payable 2 1500 1500 Interest Payable 3 250 250 Utilities Payable 5 150 150 Unearned Revenue 5000 1 3000 2000 Common Stock 20000 20000 Reatined Earnings 0 Service Revenue 35000 1 3000 38000 salaries expenses 12000 1500 2 13500 Operating Expenses 4500 4500 Rent Expenses 6000 4 6000 Utiliities Expenses 150 5 150 Supplies Expenses 800 6 800 Depreciation Expense 1000 7 1000 Interest Expenses 250 3 250 Total 62500 62500 12700 12700 65400 65400 Interest Expenses 10000*5%*0.5 250 Depreciation Expense 9000-1000/4 2000 1000 for 6 months Ans c formula to sum Debit and credir coloumn Debit =sum(E3:E24) Credit =sum(G3:G24) If more specific Debit= E14(unearbed revenue)+E18+E20+E21+E22+E23+E24 Credit=G6+G7+G9+G11+G12+G13+G14 (UNEARNED REVENUE) Ans d salaries expenses B18+E18-G18 Rent Expenses B20+E20-G20 Utiliities Expenses B21+E21-G21 Supplies Expenses B22+E22-G22 Depreciation Expense B23+E23-G23 Interest Expenses B24+E24-G24 Supplies B6+E6-G6 Prepaid Rent B7+E7-G7 Accumulated Depreciation B9+E9-G9 Salaries Payable B11+E11-G11 Interest Payable B12+E12-G12 Utilities Payable B13+E13-G13 Ans e Debit =sum(H3:H24) Credit= sum(I3:I24)

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