10-Column Worksheet Solutions from Workshop

posted Mar 19, 2012, 12:59 PM by Prof Kiernan
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Worksheet
Period Ending Dec. 31, 2011

Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
  Debits Credits Debits Credits Debits Credits Debits Credits Debits Credits
Cash 3425       3425       3425  
Accounts Receivable 7000   1000   8000       8000  
Supplies 1270     890 380       380  
Prepaid Insurance 620     315 305       305  
Office Equipment 51650       51650       51650  
Accumulated Depreciation- Office Equipment   9700   4950   14650       14650
Accounts Payable   925       925       925
Wages  Payable   0   440   440       440
Unearned Fees   1250 500     750       750
Capital Stock   5000       5000       5000
Retained Earnings   24000       24000       24000
Dividends 5200       5200       5200  
Fees Earned   59125   1500*   60625   60625    
Wages Expense 22415   440   22855   22855      
Depreciation Expense 0   4950   4950   4950      
Rent Expense 4200       4200   4200      
Utilities Expense 2715       2715   2715      
Supplies Expense 0   890   890   890      
Insurance Expense 0   315   315   315      
Miscellaneous Expense 1505       1505   1505      
Totals 100000 100000 8095 6595 106390 106390 37430 60625 68960 45765
Net Income/Loss





23195     23195







60625 60625 68960 68960
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Prof Kiernan,
Mar 19, 2012, 12:59 PM
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