Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 407 Weeks Ago, 6 Days Ago
Questions Answered: 66690
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Education

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

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 03 Feb 2018 My Price 7.00

Sure Sale Reality Company

The following trial balance and additional data are for Sure Sale Reality Company

SURE SALE REALTY COMPANY
Trial Balance
2010 December 31
 

Debits

Credits

Cash

$62,800

  

Accounts Receivable

117,120

  

Prepaid Rent

46,080

  

Equipment

173,760

  

Accumulated Depreciation—Equipment

  

$21,120

Accounts Payable

  

62,400

Capital Stock

  

96,000

Retained Earnings, 2010 January 1

  

49,920

Dividends

46,080

  

Commissions Revenue

  

653,200

Salaries Expense

321,600

  

Travel Expense

96,480

  

Miscellaneous Expense

18,720

  
 

$882,640

$882,640

The prepaid rent is for the period 2010 July 1, to 2011 June 30.

The equipment has an expected life of 10 years with no salvage value. Accrued salaries are USD 11,520.

Travel expenses accrued but unreimbursed to sales staff at December 31 were USD 17,280

a. Prepare a 12-column work sheet for the year ended 2010 December 31. You need not include account numbers or explanations of adjustments.

b. Prepare adjusting journal entries.

c. Prepare closing journal entries.

Answers

Maurice Tutor
(5)
Status NEW Posted 03 Feb 2018 07:02 PM My Price 7.00

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