ABC Services Worksheet For the Quarter Ended March 31, 2021 Trial Balance Account Titles Debit Credit 11,400 5,620 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable 1,050 2,400 30,000 10,000 Accounts Payable Owner's Capital Owner's Drawings 12,350 20,000 600 Service Revenue Salaries and Wages Expense Travel Expense Rent Expense Miscellaneous Expense 13,620 2,200 1,300 1,200 200 55,970 55,970 Totals Other data: 1. Supplies on hand total Tk 480. 2. Depreciation is Tk 800 per quarter. 3. Interest accrued on 6-month note payable, issued January 1, Tk 300. 4. Insurance expires at the rate of Tk 200 per month i.e., tk 600 for the quarter. 5. Services provided but unbilled at March 31 total Tk 1,030 Requirements: (a) Enter the trial balance on a worksheet and complete the worksheet.
ABC Services Worksheet For the Quarter Ended March 31, 2021 Trial Balance Account Titles Debit Credit 11,400 5,620 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable 1,050 2,400 30,000 10,000 Accounts Payable Owner's Capital Owner's Drawings 12,350 20,000 600 Service Revenue Salaries and Wages Expense Travel Expense Rent Expense Miscellaneous Expense 13,620 2,200 1,300 1,200 200 55,970 55,970 Totals Other data: 1. Supplies on hand total Tk 480. 2. Depreciation is Tk 800 per quarter. 3. Interest accrued on 6-month note payable, issued January 1, Tk 300. 4. Insurance expires at the rate of Tk 200 per month i.e., tk 600 for the quarter. 5. Services provided but unbilled at March 31 total Tk 1,030 Requirements: (a) Enter the trial balance on a worksheet and complete the worksheet.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The trial balance columns of the worksheet for ABC Services at March 31 are as follows.
ABC Services
Worksheet
For the Quarter Ended March 31, 2021
Trial Balance
Account Titles
Debit Credit
Cash
11,400
Accounts Receivable
5,620
| Supplies
Prepaid Insurance
Equipment
Notes Payable
1,050
2,400
30,000
10,000
Accounts Payable
12,350
Owner's Capital
Owner's Drawings
20,000
600
Service Revenue
13,620
Salaries and Wages Expense
Travel Expense
Rent Expense
Miscellaneous Expense
2,200
1,300
1,200
200
55,970 55,970
Totals
Other data:
1. Supplies on hand total Tk 480.
2. Depreciation is Tk 800 per quarter.
3. Interest accrued on 6-month note payable, issued January 1, Tk 300.
4. Insurance expires at the rate of Tk 200 per month i.e., tk 600 for the quarter.
5. Services provided but unbilled at March 31 total Tk 1,030
Requirements:
(a) Enter the trial balance on a worksheet and complete the worksheet.
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