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Complete the work sheet. If no amount is required, leave the entry box blank.

Complete the work sheet. If no amount is required, leave the entry box blank.

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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1 Cash ACCOUNT NAME 2 Accounts Receivable 3 Supplies 4 Prepaid Insurance 5 Equipment 6 Accum. Depr., Equipment 7 Van 8 Accumulated Depreciation, Van 9 Accounts Payable 10 B. Mason, Capital 11 B. Mason, Drawing 12 Fees Earned 13 Salaries Expense 14 Advertising Expense 15 Van Operating Expense 16 Utilities Expense 17 Miscellaneous Expense 18 19 Insurance Expense 20 Depr. Exp., Equipment 21 Depreciation Expense, Van 22 Salaries Payable 23 Supplies Expense 24 25 Net Income 26 DATE 20-- 2. Journalize the adjusting entries. Journalize the adjustments in the order given in the question. DESCRIPTION Adjusting Entries GENERAL JOURNAL TRIAL BALANCE POST. REF. DEBIT CREDIT DEBIT Miss Mason's Tutoring Service Work Sheet For Year Ended June 30, 20- ADJUSTMENTS DEBIT PAGE CREDIT CREDIT ADJUSTED TRIAL BALANCE DEBIT CREDIT INCOME STATEMENT DEBIT CREDIT BALANCE SHEET DEBIT CREDIT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Transcribed Image Text:1 Cash ACCOUNT NAME 2 Accounts Receivable 3 Supplies 4 Prepaid Insurance 5 Equipment 6 Accum. Depr., Equipment 7 Van 8 Accumulated Depreciation, Van 9 Accounts Payable 10 B. Mason, Capital 11 B. Mason, Drawing 12 Fees Earned 13 Salaries Expense 14 Advertising Expense 15 Van Operating Expense 16 Utilities Expense 17 Miscellaneous Expense 18 19 Insurance Expense 20 Depr. Exp., Equipment 21 Depreciation Expense, Van 22 Salaries Payable 23 Supplies Expense 24 25 Net Income 26 DATE 20-- 2. Journalize the adjusting entries. Journalize the adjustments in the order given in the question. DESCRIPTION Adjusting Entries GENERAL JOURNAL TRIAL BALANCE POST. REF. DEBIT CREDIT DEBIT Miss Mason's Tutoring Service Work Sheet For Year Ended June 30, 20- ADJUSTMENTS DEBIT PAGE CREDIT CREDIT ADJUSTED TRIAL BALANCE DEBIT CREDIT INCOME STATEMENT DEBIT CREDIT BALANCE SHEET DEBIT CREDIT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
The account balances of Miss Mason's Tutoring Service as of June 30, the end of the current fiscal year, are as follows: Cash Accounts Receivable Supplies Prepaid Insurance ACCOUNT NAME Equipment Accumulated Depreciation, Equipment Van Accumulated Depreciation, Van Accounts Payable B. Mason, Capital B. Mason, Drawing Fees Earned Salaries Expense Advertising Expense Van Operating Expense Utilities Expense Miscellaneous Expense Required: 1. Data for the adjustments are as follows: TRIAL BALANCE DEBIT 7,000.00 1,049.00 932.00 1,613.00 8,570.00 13,746.00 18,180.00 16,155.00 2,790.00 1,450.00 1,933.00 348.00 73,766.00 CREDIT 4,354.00 3,550.00 2,932.00 18,148.00 44,782.00 73,766.00 a. Expired or used up insurance, $755. b. Depreciation expense on equipment, $1,060. c. Depreciation expense on the van, $1,495. d. Salary accrued (earned) since the last payday, $779 (owed and to be paid on the next payday). e. Supplies remaining as of June 30, $653. Complete the work sheet. If no amount is required, leave the entry box blank.
Transcribed Image Text:The account balances of Miss Mason's Tutoring Service as of June 30, the end of the current fiscal year, are as follows: Cash Accounts Receivable Supplies Prepaid Insurance ACCOUNT NAME Equipment Accumulated Depreciation, Equipment Van Accumulated Depreciation, Van Accounts Payable B. Mason, Capital B. Mason, Drawing Fees Earned Salaries Expense Advertising Expense Van Operating Expense Utilities Expense Miscellaneous Expense Required: 1. Data for the adjustments are as follows: TRIAL BALANCE DEBIT 7,000.00 1,049.00 932.00 1,613.00 8,570.00 13,746.00 18,180.00 16,155.00 2,790.00 1,450.00 1,933.00 348.00 73,766.00 CREDIT 4,354.00 3,550.00 2,932.00 18,148.00 44,782.00 73,766.00 a. Expired or used up insurance, $755. b. Depreciation expense on equipment, $1,060. c. Depreciation expense on the van, $1,495. d. Salary accrued (earned) since the last payday, $779 (owed and to be paid on the next payday). e. Supplies remaining as of June 30, $653. Complete the work sheet. If no amount is required, leave the entry box blank.
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