1 an extract from the trial balance of armstrong corp at june 30 2016 is reproduced 4523635

1. An extract from the trial balance of Armstrong Corp. at June 30, 2016 is reproduced below:AccountAmount inunadjustedtrial balanceAmount inadjustedtrial balance1Prepaid insurance$1,200$ 8002Salaries payable$ 650$ 9503Interest payable$ 0$ 4704Unearned revenue$2,500$1,8005Accumulated depreciation$ 875$1,1506Unused office supplies$ 280$ 75Required: Prepare in general journal format the entries that were posted, including a plausible description. General ledger account numbers are not necessary.The following account balances in the unadjusted trial balance at November 30, 2015 are presented below:Unearned commissions revenue $1,875Prepaid insurance 600Office supplies 875Prepaid rent 750Salaries expense 6,240The prepaid rent consisted of a payment for three months’ rent at $250 per month for November 2015, December 2015 and January 2016.Office supplies on hand at December 31, 2015 amounted to $375.On July 1, 2015 a one year insurance policy was purchased for $600.All but $625 in the Unearned Commissions account has been earned in 2015.The last three days of December 2015 salaries were earned but not paid, and have not been recorded. The total salaries for one day is $125.Prepare the adjusting entries at December 31, 2015. Descriptions of the journal entry and account numbers are not required.If the adjusting entries were not recorded, what affect would this have on the net income for 2015 to include the amount understated or overstated3. The following information is provided for the Ramsey Corporation as of December 31, 2016:AccountDebitCreditCost of goods sold$78,460Delivery expenses3,250Depreciation sales equipment4,500Depreciation office equipment6,500Sales basic salaries + commission9,250Office salaries6,890Sales revenue125,000Interest revenue2,500Interest expense1,225Income tax 30%Required:Prepare a multi-step income statementPrepare a single-step income statement4. The Tansian Company had 200,000 shares outstanding on January 1, 2016. On March 1 Tansian issued 125,000 shares. On June 1 Tansian issued a 12% dividend. On 8/1 Tansian repurchased 24,000 shares of treasury stock. On December 31, 2016 Tansian declared a 1.5 to 1 stock split.Required: What are the weighted average shares at December 31, 2016?

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