Appendix 1: Financial Statements From an End-of-Period Spreadsheet

Alert Security Services Co. offers security services to business clients.

\begin{tabular}{|c|c|c|c|c|c|c|c|}
\hline
& & \begin{tabular}{l}
For
\end{tabular} & \begin{tabular}{l}
Alert Security \\
End-of-Period \\
he Year Ended
\end{tabular} & \begin{tabular}{l}
Services Co. \\
Spreadsheet \\
October 31, 20
\end{tabular} & & & \\
\hline
Account Title & & \begin{tabular}{l}
Adjusted \\
Trial Balance \\
Dr.
\end{tabular} & \begin{tabular}{l}
Adjusted \\
Trial Balance \\
Cr.
\end{tabular} & \begin{tabular}{l}
Income \\
Statement \\
Dr.
\end{tabular} & \begin{tabular}{l}
Income \\
Statement \\
Cr.
\end{tabular} & \begin{tabular}{l}
Balance Sheet \\
Dr.
\end{tabular} & \begin{tabular}{l}
Balance Sheet \\
Cr.
\end{tabular} \\
\hline
Cash & & 563 & & & & & \\
\hline
Accounts Receivable & & 4,127 & & & & & \\
\hline
Supplies & & 188 & & & & & \\
\hline
Prepaid Insurance & & 141 & & & & & \\
\hline
Land & & 4,690 & & & & & \\
\hline
Equipment & & 1,876 & & & & & \\
\hline
Accum. Depr.-Equipment & & & 375 & & & & \\
\hline
Accounts Payable & & & 1,688 & & & & \\
\hline
Wages Payable & & & 188 & & & & \\
\hline
Common Stock & & & 40 & & & & \\
\hline
Retained Earnings & & & 8,122 & & & & \\
\hline
Dividends & & 375 & & & & & \\
\hline
Fees Earned & & & 4,596 & & & & \\
\hline
\end{tabular}



Answer :

To determine the total assets and the total liabilities and equity for Alert Security Services Co. using the given financial statement, we should proceed with the following steps:

### Step 1: Calculate Total Assets

Assets are anything owned by the company that has monetary value and can include cash, receivables, supplies, prepaid expenses, land, and equipment. Here is a detailed summation:

1. Cash: [tex]$563 2. Accounts Receivable: $[/tex]4,127
3. Supplies: [tex]$188 4. Prepaid Insurance: $[/tex]141
5. Land: [tex]$4,690 6. Equipment: $[/tex]1,876

Summing these amounts gives us the total assets:
[tex]\[ \text{Total Assets} = 563 + 4127 + 188 + 141 + 4690 + 1876 = 11585 \][/tex]

### Step 2: Calculate Total Liabilities and Stockholders' Equity

Liabilities are the debts and obligations of the company, while Stockholders' Equity represents the owners' claims after liabilities have been settled. Here's what's included:

1. Accounts Payable: [tex]$1,688 2. Wages Payable: $[/tex]188
3. Common Stock: [tex]$40 4. Retained Earnings: $[/tex]8,122
5. Accumulated Depreciation - Equipment: [tex]$375 6. Dividends: -$[/tex]375 (dividends reduce retained earnings)
7. Fees Earned: $4,596 (indicating income that may have impacted retained earnings positively)

Summing these refined amounts gives us the total liabilities and equity:
[tex]\[ \text{Total Liabilities and Equity} = 1688 + 188 + 40 + 8122 + 375 - 375 + 4596 = 14634 \][/tex]

### Final Summary

Total Assets:
[tex]\[ 11585 \][/tex]

Total Liabilities and Stockholders' Equity:
[tex]\[ 14634 \][/tex]

All calculations are based on the provided financial data, ensuring completeness and adherence to financial reporting standards.