At December 31 Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Accounts payable Wages payable Income taxes payable F Notes payable (3 years; 10% interest due each September 30) Common stock (5,200 shares outstanding) Additional paid-in capital Retained earnings Service revenue Wages expense Remaining expenses (not detailed; excludes income tax) Income tax expense Totals Debit 46,600 10,400 620 670 17,100 9,060 16,200 33,240 133,890 Credit 7,800 2,360 11,000 1,896 17,064 5,300 88,470 133,890 Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $170 in remaining supplies on hand to be used in the next year. b. Insurance expired during the current year, $670. c. Depreciation expense for the current year, $3,900. d. Wages earned by employees not yet paid on December 31, $550. e. Three months of interest expense (for the note payable borrowed on October 1 of the current year) was incurred im the current year. f. Income tax expense, $5,180.
At December 31 Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Accounts payable Wages payable Income taxes payable F Notes payable (3 years; 10% interest due each September 30) Common stock (5,200 shares outstanding) Additional paid-in capital Retained earnings Service revenue Wages expense Remaining expenses (not detailed; excludes income tax) Income tax expense Totals Debit 46,600 10,400 620 670 17,100 9,060 16,200 33,240 133,890 Credit 7,800 2,360 11,000 1,896 17,064 5,300 88,470 133,890 Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $170 in remaining supplies on hand to be used in the next year. b. Insurance expired during the current year, $670. c. Depreciation expense for the current year, $3,900. d. Wages earned by employees not yet paid on December 31, $550. e. Three months of interest expense (for the note payable borrowed on October 1 of the current year) was incurred im the current year. f. Income tax expense, $5,180.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Cash
Accounts receivable
Supplies
Prepaid insurance
Service trucks
Accumulated depreciation
At December 31
Other assets
Accounts payable
Wages payable
Income taxes payable
Notes payable (3 years; 10% interest due each September
30)
Common stock (5,200 shares outstanding)
Additional paid-in capital
Retained earnings
Service revenue
Wages expense
Remaining expenses (not detailed; excludes income tax)
Income tax expense
Totals
Debit
46,600
10,400
620
670
17,100
9,060
16,200
33,240
133,890
Credit
7,800
2,360
11,000
1,896
17,064
5,300
88,470
133,890
Data not yet recorded at December 31 included:
a. The supplies count on December 31 reflected $170 in remaining supplies on hand to be used in the next year.
b. Insurance expired during the current year, $670.
c. Depreciation expense for the current year, $3,900.
d. Wages earned by employees not yet paid on December 31, $550.
e. Three months of interest expense (for the note payable borrowed on October 1 of the current year) was incurred in
the current year.
f. Income tax expense, $5,180.
Transcribed Image Text:S
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Required information
Other Items:
Income before taxes
Earnings per share
Current assets
Total current assets
Total assets
Income Statement
$
$
0
0
Balance Sheet
Current liablities
Total current liabilities
Total liabilities.
Stockholders' equity
< Required 2a
0
Total stockholders' equity
Total liabilities and stockholders' equity
Required 2b >
$
$
$
$
0
0
0
0
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