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Category > Accounting Posted 13 Sep 2017 My Price 9.00

Boston Trading Company,

The Boston Trading Company, whose accounting year ends on December 31, had the following normal balances in its general ledger at December 31.

Cash $19,500
Accounts Receivable 84,900
Inventory 109,500
Prepaid Insurance 9,000
Office Supplies 6,300
Furniture & Fixtures 31,500
Accumulated Depreciation - Furn. & Fixtures 7,500
Delivery Equipment 126,000
Accumulated Depreciation - Delivery Equipment 18,000
Accounts Payable 61,500
Long-term Notes Payable 45,000
Common Stock 112,500
Retained Earnings 77,100
Sales Revenue 945,000
Cost of Goods Sold 606,000
Utilities Expense 7,200
Salaries Expense 207,000
Delivery Expense 16,200
Advertising Expense 8,400
Rent Expense 21,600
Income Tax Expense 13,500

 

During the year, the accounting department prepared monthly statements but no adjusting entries were made in the journals and ledgers. Data for the year-end procedures are as follows:

Prepaid insurance, December 31 $1,200
Depreciation Expense on furniture and fixures for year 1,800
Depreciation Expense on delivery equip. for the year 14,000
Salaries Payable, December 31 3,000
Unused office supplies on December 31 1,000

What are the total operating expenses for the year ended December 31st?

Answers

Maurice Tutor
(5)
Status NEW Posted 13 Sep 2017 10:09 AM My Price 9.00

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