Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 2 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 19 Aug 2017 My Price 13.00

Gorman Group

The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31, 2016, the end of the fiscal year, the accountant for The  Gorman Group prepared an end-of-period spreadsheet, part of which    follows:

 

 

 

A

F

G

1

The Gorman Group

 

2

End-of-Period Spreadsheet

 

3

For the Year Ended October 31, 2016

 

4

 

Adj Trial

usted Balance

5

 

6

Account Title

Dr.

Cr.

7

 

 

8

Cash

11,000

 

9

Accounts Receivable

28,150

 

10

Supplies

6,350

 

11

Prepaid Insurance

9,500

 

12

Land

75,000

 

13

Buildings

250,000

 

14

Accumulated Depreciation—Buildings

117,200

15

Equipment

240,000

 

16

Accumulated Depreciation—Equipment

151,700

17

Accounts Payable

33,300

18

Salaries Payable

3,300

19

Unearned Rent

1,500

20

Common Stock

25,000

21

Retained Earnings

195,000

22

Dividends

20,000

 

23

Service Fees

468,000

24

Rent Revenue

5,000

25

Salaries Expense

291,000

 

26

Depreciation Expense—Equipment

17,500

 

27

Rent Expense

15,500

 

28

Supplies Expense

9,000

 

29

Utilities Expense

8,500

 

30

Depreciation Expense—Buildings

6,600

 

31

Repairs Expense

3,450

 

32

Insurance Expense

3,000

 

33

Miscellaneous Expense

        5,450

                  

34

1,000,000

1,000,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.    

 
 

Prepare an income statement, a retained earnings statement, and a balance sheet.

2.     Journalize the entries that were required to close the accounts at October 31.

3.     If the balance of Retained Earnings had instead increased $115,000 after the closing entries were posted, and the dividends remained the same, what would have been the amount of net income or net loss?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 08:08 PM My Price 13.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)
Relevent Questions