This Tutorial contains an Excel File which can be used for any values
 
ACC 290 Week 4 Apply Connect Assignment
 
Note: You have only 1 attempt available to complete assignments
 
There are 2 Questions in this Tutorial (details given below, our excel sheet can be used for any values)
 
 
Question 1
 
The trial balance of Neal Company as of January 31, 2019, after the company completed the first month of operations, is shown in the partial worksheet below.
 
Required:
 
2.     Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $7,000; expired insurance, $6,900; depreciation expense for the period, $3,000.
 
 
 
Analyze:
 
How does the insurance adjustment affect Prepaid Insurance?
 
 
Question 2
 
The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below.
 
Required:
 
Prepare an income statement.
Prepare a statement of owner’s equity. The owner made no additional investments during the month.
Prepare a balance sheet.
 
Analyze: 
If the adjustment to Prepaid Advertising had been $6,800 instead of $3,400, what net income would have resulted?
 
 

 

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