Maurice Tutor

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

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 29 Jul 2017 My Price 11.00

lIeldon Service Co

The following erial balance was prepared for the lIeldon Service Co. a. of December 31, 200 •.

 

he following information is provided for adjustment purposes:

a. An analysis of the insurance files indicates that there is n balance in the insurance account of $400.

b. Supplies used during the year amounted to SI n.

c. Depreciation expense on the furniture amounted to S500 for the year.

d. Of the service revenue recorded, it has been determined chat 5400 of it has not been earned (or the current veer.

e. Salaries earned but not paid for the last week in the fiscal year amounted to 5300. r. tnterest expense incurred but not yet paid on a promissory note amounted to 540.

Directions:

1. Set up an eight-column worksheet using the trial balance presented above.

2. Record the adjusting entries directly on the worksheet using the letters assigned.

3. Complete the worksheet.

4. Using the completed worksheet prepare an income statement, state- ment of capital, and balance sheet.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jul 2017 09:07 PM My Price 11.00

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