The Unadjusted Trial Balance of Jackson's Web Services at December

question 103

Essay

The unadjusted trial balance of Jackson's Web Services at December 31, 2014 follows below.
Additional data regarding the accounts:
1. Actual supplies on hand are $750.
2. Depreciation expense for 2014 has not yet been recorded, but has been calculated as $1,600.
3. Amounts recorded as Unearned Revenue are for services that were provided in December. No additional work needs to be done for these customers.
4. Salaries expense of $1,000 for the last week of December has not been paid yet, and should be recorded as an Account Payable.
Instructions
a. Complete the worksheet for the month of December, 2014.
b. Calculate Profit for the year.
c. Calculate the balance in E. Jackson, Capital at December 31, 2014 after closing entries are made.

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Definitions:

Posttrial Motions

Legal motions filed after a trial has concluded, often seeking to alter or challenge the outcome of the trial.

Directed Verdict

A legal ruling by a judge, made during a trial, declaring that no reasonable jury could decide in favor of the opposing party based on the presented evidence.

New Trial

A court-ordered repetition of all or part of a legal proceeding, usually due to procedural error, new evidence, or unfair trial.

Judgment Creditor

A creditor who is legally entitled by a court’s judgment to collect the amount of the judgment from a debtor.