Trail Balance and Guidelines for Revenue Recoginition

Related BrainMass Solutions

• Effects of Adjustments, Adjusted Trial Balance and Current Ratio for Baptiste Publishing

  For example for service revenue earned revenue Account (Income statement) and Account Receivable (Balance sheet) accounts are affected.

• Discussion questions about adjusted and after-trial balances

  The adjusting entries assure that income statement shows the proper revenue, expenses and net earning and balance sheet reports correct assets, liabilities and owner's equity on a given date. Adjusting entries are made for prepayments and accrual.

• Multiple choice

  There is no given order for expense and so each company can decide its own order 2. d) accounting cycle This is the entire accounting cycle 3. b) Unearned service revenue This is a liability and so would be in the credit column 4. d) income

• Worksheet

  ACCOUNT TITLE UNADJUSTED ADJUSTED TRAIL BALANCE ADJUSTMENTS TRAIL BALANCE DR CR DR CR DR CR Cash $13,000 Accounts receivable

• Construction Accounting

  I have attached the excel sheet and shown trail balance for solution. The solution prepares income statement,a statement of owner's equity & balance sheet in construction accounting.

• For Featherstone Real Estate Company, need to prepare required closing entries in journal form. Selected September T accounts for Weins Company are presented below. a) Which of the accounts would a reversing entry be helpful, why?

  The following is a highly simplified alphabetical list of trial balance accounts and their normal balances for the month ended March 30,20xx.

• Russell-Logan Technology

  B) Post to the T-Accounts C) Prepare a Trail Balance D) Prepare the Income Statement _______________________________________________________________ Problem 2 The following transactions occurred during a recent year a.

• Adjusted Trial Balance

  Prepare Full Spectrum Color Laboratory's income statement and statement of owner's equity for the year ended June 30, 19X9, and the classified balance sheet on that date. Use the account format for the balance sheet.

• Income statement cash flow

  318154 Income statement cash flow The following is partial trail balance for the Green corporation as of Dec Account Title Debit Credit sales revenue