Rogers Corporation Unadjusted Trial Balance December 31, 2019 Асcount Debit Credit Cash 3,100 15,900 4,200 9,500 625,000 $ Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Other Assets $ 104,000 60,900 Accounts Payable Unearned Service Revenue 9,400 11,200 50,000 279,500 37,000 598,000 Note Payable (due 2022) Common Stock Retained Earnings, 12/31/2018 Service Revenue Wages Expense Rent Expense Interest Expense 137,000 229,000 4,500 $1,089, 100 Totals $1,089,100 At year end, you have the following data for adjustments: a. An analysis indicates that prepaid rent on December 31 should be $2,300. b. A physical inventory shows that $650 of office supplies is on hand. c. Depreciation for 2019 is $35,250. d. An analysis indicates that unearned service revenue should be $3,120. e. Wages in the amount of $3,450 are owed but unpaid and unrecorded at year end. f. Six months' interest at 8% on the note was paid on September 30. Interest for the period from October 1 to December 31 is unpaid and unrecorded. g. Income taxes of $55,539 are owed but unrecorded and unpaid.
Rogers Corporation Unadjusted Trial Balance December 31, 2019 Асcount Debit Credit Cash 3,100 15,900 4,200 9,500 625,000 $ Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Other Assets $ 104,000 60,900 Accounts Payable Unearned Service Revenue 9,400 11,200 50,000 279,500 37,000 598,000 Note Payable (due 2022) Common Stock Retained Earnings, 12/31/2018 Service Revenue Wages Expense Rent Expense Interest Expense 137,000 229,000 4,500 $1,089, 100 Totals $1,089,100 At year end, you have the following data for adjustments: a. An analysis indicates that prepaid rent on December 31 should be $2,300. b. A physical inventory shows that $650 of office supplies is on hand. c. Depreciation for 2019 is $35,250. d. An analysis indicates that unearned service revenue should be $3,120. e. Wages in the amount of $3,450 are owed but unpaid and unrecorded at year end. f. Six months' interest at 8% on the note was paid on September 30. Interest for the period from October 1 to December 31 is unpaid and unrecorded. g. Income taxes of $55,539 are owed but unrecorded and unpaid.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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| You have the following unadjusted 1. Prepare the 2. Prepare an income statement, a 3. CONCEPTUAL CONNECTION Why would you not want to prepare financial statements until after the adjusting entries are made? |
Transcribed Image Text:Rogers Corporation
Unadjusted Trial Balance
December 31, 2019
Асcount
Debit
Credit
Cash
3,100
15,900
4,200
9,500
625,000
$
Accounts Receivable
Supplies
Prepaid Rent
Equipment
Accumulated Depreciation
Other Assets
$ 104,000
60,900
Accounts Payable
Unearned Service Revenue
9,400
11,200
50,000
279,500
37,000
598,000
Note Payable (due 2022)
Common Stock
Retained Earnings, 12/31/2018
Service Revenue
Wages Expense
Rent Expense
Interest Expense
137,000
229,000
4,500
$1,089, 100
Totals
$1,089,100
At year end, you have the following data for adjustments:
a. An analysis indicates that prepaid rent on December 31 should be $2,300.
b. A physical inventory shows that $650 of office supplies is on hand.
c. Depreciation for 2019 is $35,250.
d. An analysis indicates that unearned service revenue should be $3,120.
e. Wages in the amount of $3,450 are owed but unpaid and unrecorded at year end.
f. Six months' interest at 8% on the note was paid on September 30. Interest for the period
from October 1 to December 31 is unpaid and unrecorded.
g. Income taxes of $55,539 are owed but unrecorded and unpaid.
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