Question : 41) The following accounts appear in the adjusted trial balance : 1212604

41) The following accounts appear in the adjusted trial balance columns of a worksheet. State the column that each account balance is extended to, choosing from the following columns:

 

1) income statement debit

2) balance sheet debit

3) income statement credit

4) balance sheet credit

 

a) _________  service revenue

b) _________  unearned service revenue

c) _________  land

d) _________  rent expense

e) _________  supplies expense

f) _________  supplies

g) _________  accumulated amortization

h) _________  equipment

i) _________  owner’s capital

j) _________  owner’s withdrawals

 

42) Complete the following December 31, 2014 worksheet for Alcazar Services, using the following adjustments:

 

1. At year end $2,000 of work done for a client was unrecorded.

2. A count of supplies showed that there were $20 remaining.

3. Unrecorded amortization on the equipment amounted to $240.

4. Accrued salaries amounted to $180.

AdjustedIncome Balance

Trial BalanceAdjustments Trial Balance StatementSheet

 

Debit

Credit

Debit

Credit

Debit

Credit

Debit

Credit

Debit

Credit

Cash

1,700

 

 

 

 

 

 

 

 

 

Accounts Receiv.

8,500

 

 

 

 

 

 

 

 

 

Supplies

100

 

 

 

 

 

 

 

 

 

Equipment

7,500

 

 

 

 

 

 

 

 

 

Accum. Amort.

 

2,000

 

 

 

 

 

 

 

 

Accounts Payable

 

1,200

 

 

 

 

 

 

 

 

Salary Payable

 

800

 

 

 

 

 

 

 

 

Unearned Revenue

 

600

 

 

 

 

 

 

 

 

Owner Capital

 

3,400

 

 

 

 

 

 

 

 

Owner Withdraw.

2,300

 

 

 

 

 

 

 

 

 

Service Revenue

 

40,000

 

 

 

 

 

 

 

 

Salary Expense

24,000

 

 

 

 

 

 

 

 

 

Supplies Expense

2,300

 

 

 

 

 

 

 

 

 

Amort. Expense

1,600

 

 

 

 

 

 

 

 

 

     Total

48,000

48,000

 

 

 

 

 

 

 

 

Net income/(loss)

 

 

 

 

 

 

 

 

 

 

      Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

43) Complete the following December 31, 2014 worksheet. for Alcazar Services:

 

AdjustedIncomeBalance

Trial BalanceAdjustmentsTrial BalanceStatementSheet

 

Debit

Credit

Debit

Credit

Debit

Credit

Debit

Credit

Debit

Credit

Cash

1,700

 

 

 

1,700

 

 

 

 

 

Accounts Receiv.

8,500

 

2,000

 

10,500

 

 

 

 

 

Supplies

100

 

 

80

20

 

 

 

 

 

Equipment

7,500

 

 

 

7,500

 

 

 

 

 

Accum. Amort.

 

2,000

 

240

 

2,240

 

 

 

 

Accounts Payable

 

1,200

 

 

 

1,200

 

 

 

 

Salary Payable

 

800

 

180

 

980

 

 

 

 

Unearned Revenue

 

600

 

 

 

600

 

 

 

 

Owner Capital

 

3,400

 

 

 

3,400

 

 

 

 

Owner Withdraw.

2,300

 

 

 

2,300

 

 

 

 

 

Service Revenue

 

40,000

 

2,000

 

42,000

 

 

 

 

Salary Expense

24,000

 

180

 

24,180

 

 

 

 

 

Supplies Expense

2,300

 

80

 

2,380

 

 

 

 

 

Amort. Expense

1,600

 

240

 

1,840

 

 

 

 

 

     Total

48,000

48,000

2,500

2,500

50,420

50,420

 

 

 

 

Net income/(loss)

 

 

 

 

 

 

 

 

 

 

      Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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