Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 6 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 21 Oct 2017 My Price 7.00

Draper Consulting

Start from the posted T-accounts and the adjusted trial balance that Draper Consulting prepared for the company at December 31:

DRAPER CONSULTING, INC.

Adjusted Trial Balance

December 31, 2012

 

 

Balance

Account Title

Debit

Credit

Cash

$16,350

 

Accounts receivable

1,750

 

Supplies

200

 

Equipment

1,800

 

Accumulated depreciation—equipment

 

$ 30

Furniture

4,200

 

Accumulated depreciation—furniture

 

70

Accounts payable

 

4,650

Salary payable

 

685

Unearned service revenue

 

700

Common stock

 

18,000

Retained earnings

 

 

Dividends

1,400

 

Service revenue

 

3,850

Rent expense

550

 

Utilities expense

250

 

Salary expense

685

 

Depreciation expense—equipment

30

 

Depreciation expense—furniture

70

 

Supplies expense

700

 

Total

$27,985

$27,985

Requirements

1. Complete the accounting worksheet at December 31.

2. Journalize and post the closing entries at December 31. Denote each closing amount as Clo and an account balance as Bal.

3. Prepare a classified balance sheet at December 31.

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Oct 2017 09:10 PM My Price 7.00

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