Q1. Adjusted Trial Balance Cash Accounta recaivable Umce supphes.. Prepaid insurance Ofice equipment Accum depreciation-Ofice equip Accounts payable Interest payable Salaries payable Unearmed consulting tees Longiterm notes payable $ 34,000 22.000 Prepare closing entries for KC Antiques at December 31. ...... 2.960 84,000 $ 20,000 10,000 ..... 1,000 .... 7.000 15,000 52,000 Logan, Capital A Logan, Withdawals Consulting fees earned Depreciation expense-Office equip Salaries expense Interest expense 40,000 5.000 134,240 6.000 74,000 ........... 2.200 .... Insurance expeme 5.580 Rent expense 14,500 ... Ofice supplies enpeme Advertising expense 14,000 13.000 $279.240 ... Totals $279.240

Q1. Adjusted Trial Balance Cash Accounta recaivable Umce supphes.. Prepaid insurance Ofice equipment Accum depreciation-Ofice equip Accounts payable Interest payable Salaries payable Unearmed consulting tees Longiterm notes payable $ 34,000 22.000 Prepare closing entries for KC Antiques at December 31. ...... 2.960 84,000 $ 20,000 10,000 ..... 1,000 .... 7.000 15,000 52,000 Logan, Capital A Logan, Withdawals Consulting fees earned Depreciation expense-Office equip Salaries expense Interest expense 40,000 5.000 134,240 6.000 74,000 ........... 2.200 .... Insurance expeme 5.580 Rent expense 14,500 ... Ofice supplies enpeme Advertising expense 14,000 13.000 $279.240 ... Totals $279.240

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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7-3 A
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U-s-e- -E-x-h-i-b-i-t- -W-o-r-k-s-h-e-e-t- 6.1. A-n-a-l-y-n- -R-a-m-o-s- -i-s- -e-v-a-l-u-a-t-i-n-g- -h-e-r- -d-e-b-t- -s-a-f-e-t-y- -r-a-t-i-o-.- -H-e-r- -m-o-n-t-h-l-y- -t-a-k-e---h-o-m-e- -p-a-y- -i-s- - ₱166,000.00. E-a-c-h- -m-o-n-t-h-,- -s-h-e- -p-a-y-s- - ₱19,000.00 f-o-r- -a-n- -a-u-t-o- -l-o-a-n-, ₱6,000.00 -o-n- -a- -p-e-r-s-o-n-a-l- -l-i-n-e- -o-f- -c-r-e-d-i--t,-- ₱3,000.00 -o-n -a- -d-e-p-a-r-t-m-e-n-t- -s-t-o-r-e- -c-h-a-r-g-e- -c-a-r-d-,- -a-n-d- ₱4,250.00 -o-n- -h-e-r- --b-a-n-k- -c-r-e--d-i-t- -c-a-r-d-. C-o-m-p-l-e-t-e- -t-h-e- -w-o-r-k-s-h-e-e-t- -b-y- -l-i-s-t-i-n-g- -A-n-a-l-y-n-’-s- -o-u-t-s-t-a-n-d-i-n-g- -d-e-b-t-s-,- -a-n-d- -t-h-e-n- -c-a-l-c-u-l-a-t-e- -h-e-r- -d-e-b-t- -s-a-f-e-t-y- -r-a-t-i-o-.- -G-i-v-e-n- -h-e-r- -c-u-r-r--e-n-t- -t-a-k-e---h-o-m--e -p-a-y-,- -w-h-a-t- -i-s- -t-h-e-- -m-a-x-i-m-u-m- -a-m-o--un-t- -o-f- -m-o-n-t-h-l-y- -d-e-b-t- -p-a-y-m-e-n-t-s- -t-h-a-t- -A-n-a-l-y-n- -c-a-n-- h-a-v-e- -i-f- --s-h-e- -w-a-n-t-s- -h-e-r- -d-e-b-t-…