![]() Without opening any accounts, making any journal entries, or using a work sheet, provide Ms. Proof that Total assets = Total liabilities + Total stockholders’ equity after all items are updated Net income for the year covered by these dataĮ. She needs to know the following information within one hour:Ī. Megan Hodge, the principal stockholder, has received an offer to sell United Digital Services Company. Unearned service revenue that has been earned, $1,650 The accounts of United Digital Services Company prior to the year-end adjustments follow:Ĭash $ 7, 300 Common stock $ 14, 000 Accounts receivable 7, 500 Retained earnings 46, 000 Supplies 4, 600 Dividends declared 16, 000 Prepaid insurance 3, 500 Service revenue 161, 000 Building 110, 000 Salary Expense 37, 000 Accumulated depreciation- Depreciation expense building 15, 600 building Land 53, 000 Supplies expense Accounts payable 6, 100 Insurance expense Salary payable Advertising expense 7, 300 Unearned service revenue 5, 500 Utilities expense 2, 000 \begin& 2,000\\Ĭash Accounts receivable Supplies Prepaid insurance Building Accumulated depreciation- building Land Accounts payable Salary payable Unearned service revenue $7, 300 7, 500 4, 600 3, 500 110, 000 15, 600 53, 000 6, 100 5, 500 Common stock Retained earnings Dividends declared Service revenue Salary Expense Depreciation expense building Supplies expense Insurance expense Advertising expense Utilities expense $14, 000 46, 000 16, 000 161, 000 37, 000 7, 300 2, 000 Īdjusting data at the end of the year include the following:Ī.
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