Chapter 3: The Accounting Cycle: End of Period Adjusted Trial Balance Debit Credit Cash 40,000 Accounts receivable 50,000 Supplies 5,000 Prepaid Insurance 15,000 Property, Plant & Equipment (PPE) 1,400,000 Accumulated depreciation 300,000 Accounts payable 25,000 20,000 3,000 Salaries payable Utilities payable Deferred revenue 55,000 200,000 400,000 Notes payable (due in 5 yrs.) Common stock Retained earnings 329,000 Dividends 80,000 450,000 300,000 Service revenue-new construction Service revenue-remodeling Salaries expense 400,000 50,000 10,000| Depreciation expense Interest expense Supplies expense 8,000 22,000 2,000 2,082,000 Utilities expense Service fee expense Total 2,082,000 1 Determine net income 2 Total current assets 3 Book Value of PPE
Chapter 3: The Accounting Cycle: End of Period Adjusted Trial Balance Debit Credit Cash 40,000 Accounts receivable 50,000 Supplies 5,000 Prepaid Insurance 15,000 Property, Plant & Equipment (PPE) 1,400,000 Accumulated depreciation 300,000 Accounts payable 25,000 20,000 3,000 Salaries payable Utilities payable Deferred revenue 55,000 200,000 400,000 Notes payable (due in 5 yrs.) Common stock Retained earnings 329,000 Dividends 80,000 450,000 300,000 Service revenue-new construction Service revenue-remodeling Salaries expense 400,000 50,000 10,000| Depreciation expense Interest expense Supplies expense 8,000 22,000 2,000 2,082,000 Utilities expense Service fee expense Total 2,082,000 1 Determine net income 2 Total current assets 3 Book Value of PPE
Chapter1: Financial Statements And Business Decisions
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