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An inventory of supplies showed $200 of supplies were left 2. There was $500 of depreciation on Furniture 3. $1,080 of insurance was purchased for 12 months. Two months of insurance was used. 4. Performed $1,000 of services that was paid for in advance 5. On last day of the month, performed $1,500 of services for new customer and will be paid next month 6. Happy cleaners provided $200 of cleaning services on the last day of the month. They will be paid next month. 7. An inventory count revealed there was $500 of inventory shrinkage Find the Trial Balance,Income Statement, Statement of Owner's Equity and Balance Sheet

An inventory of supplies showed $200 of supplies were left 2. There was $500 of depreciation on Furniture 3. $1,080 of insurance was purchased for 12 months. Two months of insurance was used. 4. Performed $1,000 of services that was paid for in advance 5. On last day of the month, performed $1,500 of services for new customer and will be paid next month 6. Happy cleaners provided $200 of cleaning services on the last day of the month. They will be paid next month. 7. An inventory count revealed there was $500 of inventory shrinkage Find the Trial Balance,Income Statement, Statement of Owner's Equity and Balance Sheet

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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An inventory of supplies showed $200 of supplies were left
2. There was $500 of depreciation on Furniture
3. $1,080 of insurance was purchased for 12 months. Two months of
insurance was used.
4. Performed $1,000 of services that was paid for in advance
5. On last day of the month, performed $1,500 of services for new customer
and will be paid next month
6. Happy cleaners provided $200 of cleaning services on the last day of the
month. They will be paid next month.
7. An inventory count revealed there was $500 of inventory shrinkage 
 
Find the Trial Balance,Income Statement, Statement of Owner's Equity and Balance Sheet 
 
 
Comprehensive Question #5 Worksheet General Ledger (starting with balances from unadjusted trial balance) Accounts Payable Cash Unadj Bal. Adj6 Unadj Bal. 12,400 900 Bal. 12,400 900 Bal. Accounts Receivable Utilities Payable Unadj Bal. Adj5 1,100 600 Unadj Bal. Bal. 1,100 600 Bal. Office Supplies Unearned Revenue Unadj Bal. 900 Adj1 Adj 4 2,100 Unadj Bal. Bal. 900 2,100 Bal. Prepaid Insurance Common Stock Unadj Bal. 1,080 Adj3 59,000 Unadj Bal. Bal. 1,080 59,000 Bal. Land Dividends Unadj Bal. 24,000 Unadj Bal. 4,000 Bal. 24,000 Bal. 4,000 Furniture Service Revenue Unadj Bal. Adj4 Adj5 46,900 Bal. Unadj Bal. 1,800 46,900 Bal. 1,800 Salary Expense Utilities Expense Undadj 2,820 Unadj Bal. 600 Bal. 2,820 Bal. 600 Supplies Expense Rent Expense Adj1 Unadj Bal. 800 Bal. Bal. 800 4 of 8
Transcribed Image Text:Comprehensive Question #5 Worksheet General Ledger (starting with balances from unadjusted trial balance) Accounts Payable Cash Unadj Bal. Adj6 Unadj Bal. 12,400 900 Bal. 12,400 900 Bal. Accounts Receivable Utilities Payable Unadj Bal. Adj5 1,100 600 Unadj Bal. Bal. 1,100 600 Bal. Office Supplies Unearned Revenue Unadj Bal. 900 Adj1 Adj 4 2,100 Unadj Bal. Bal. 900 2,100 Bal. Prepaid Insurance Common Stock Unadj Bal. 1,080 Adj3 59,000 Unadj Bal. Bal. 1,080 59,000 Bal. Land Dividends Unadj Bal. 24,000 Unadj Bal. 4,000 Bal. 24,000 Bal. 4,000 Furniture Service Revenue Unadj Bal. Adj4 Adj5 46,900 Bal. Unadj Bal. 1,800 46,900 Bal. 1,800 Salary Expense Utilities Expense Undadj 2,820 Unadj Bal. 600 Bal. 2,820 Bal. 600 Supplies Expense Rent Expense Adj1 Unadj Bal. 800 Bal. Bal. 800 4 of 8
Comprehensive Question #5 Worksheet Depreciation Expense- Furniture Adj2 Accumulated Depreciation-Furniture Adj2 Bal. O Bal. Insurance expense Cleaning expense Adj3 Adj6 Bal. Bal. Cost of goods sold Inventory Unadj Bal. 40,000 Adj7 Unadj Bal. Adj7 20,000 Bal. 20,000 Bal. 40,000 5 of 8
Transcribed Image Text:Comprehensive Question #5 Worksheet Depreciation Expense- Furniture Adj2 Accumulated Depreciation-Furniture Adj2 Bal. O Bal. Insurance expense Cleaning expense Adj3 Adj6 Bal. Bal. Cost of goods sold Inventory Unadj Bal. 40,000 Adj7 Unadj Bal. Adj7 20,000 Bal. 20,000 Bal. 40,000 5 of 8
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