ROBLEM DATA The trial balance of Wikki Cleaners at December 31, 2012, the end of the current fiscal year, is below: Wikki Cleaners Trial Balance December 31, 2012 Cash $13,200 Cleaning Supplies 22,000 Prepaid Insurance 5,400 Equipment 206,000 Accumulated Depreciation $ 74,100 Accounts Payable 8,500 Wikki Lee, Capital 91,200 Wikki Lee, Drawing 27,000 Revenue 171,560 Rent Expense 28,500 Wages Expense 39,720 Utilities Expense 2,130 Miscellaneous Expense _____ 1,410 ________ $345,360 $345,360 Information for the adjusting entries is as follows: Cleaning supplies on hand on December 31, 2012, $18,750 Insurance premiums expired during the year, $1,800 Depreciation on equipment during the year, $21,600 Wages accrued but not paid at December 31, 2012, $1,830
SERVICE COMPANY WORKSHEET P1WORK
LEARNING OBJECTIVES
* Prepare a worksheet for a proprietorship service firm.
* Prepare financial statements from a worksheet.
* Compare expense levels to national averages.
* Alter the worksheet to include an additional adjusting entry.
* Create a chart showing the amount of all expenses.
PROBLEM DATA
The
Wikki Cleaners
Trial Balance
December 31, 2012
Cash $13,200
Cleaning Supplies 22,000
Prepaid Insurance 5,400
Equipment 206,000
Accounts Payable 8,500
Wikki Lee, Capital 91,200
Wikki Lee, Drawing 27,000
Revenue 171,560
Rent Expense 28,500
Wages Expense 39,720
Utilities Expense 2,130
Miscellaneous Expense _____ 1,410 ________
$345,360 $345,360
Information for the
- Cleaning supplies on hand on December 31, 2012, $18,750
- Insurance premiums expired during the year, $1,800
- Depreciation on equipment during the year, $21,600
- Wages accrued but not paid at December 31, 2012, $1,830
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