Exercise 4-2 Extending accounts in a work sheet P1The Adjusted Trial Balance columns of a 10-column work sheet for Planta Company follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and byentering the amount of net income for the reporting period.Balance Sheet andUnadjustedAdjustedIncomeStatement ofOwner's EquityCr.Trlal BalanceAdjustments|Cr. Dr. CrTrlal BalanceStatementNo. Account Title101Dr.Cr. Dr.Dr.$ 7,00027,20042,000Cr.Dr.Cash106Accounts receivable153Trucks154Accumulated depreciation-Trucks$ 17,500183 Land32,000201 Accounts payable209 Salaries payable233 Unearned fees301 F. Planta, Capital302 F. Planta, Withdrawals401 Plumbing fees eamed611 Depreciation expense-Trucks622 Salaries expense640 Rent expense677 Miscellaneous expenses15,0004,2003,60065,50015,40084,0006,50038,00013,0008,700$189,800Totals$189,800Net incomeTotals

Name: Exercise 4-2 Extending accounts in a work sheet P1The Adjusted Trial
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Description: Exercise 4-2 Extending accounts in a work sheet P1The Adjusted Trial Balance columns of a 10-column work sheet for Planta Company follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and

Financial statement used for reporting financial performance of the company over a specific…

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The Adjusted Trial Balance columns of a 10-column work sheet for Planta Company follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. Balance Sheet and Unadjusted Trial Balance Adjusted Trial Balance Income Statement of Adjustments Statement Owner's Equity No. Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Čr. Dr. Cr. $ 7,000 27,200 42,000 101 Cash 106 Accounts receivable 153 Trucks 154 Accumulated depreciation-Trucks 183 Land 201 Accounts payable 209 Salaries payable 233 Unearned fees 301 F. Planta, Capital 302 F. Planta, Withdrawals 401 Plumbing fees eamed 611 Depreciation expense-Trucks 622 Salaries expense 640 Rent expense 677 Miscellaneous expenses Totals $ 17,500 32,000 15,000 4,200 3,600 65,500 15,400 84,000 6,500 38,000 13,000 8,700 $189,800 $189,800 Net income Totals

The Adjusted Trial Balance columns of a 10-column work sheet for Planta Company follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. Balance Sheet and Unadjusted Trial Balance Adjusted Trial Balance Income Statement of Adjustments Statement Owner's Equity No. Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Čr. Dr. Cr. $ 7,000 27,200 42,000 101 Cash 106 Accounts receivable 153 Trucks 154 Accumulated depreciation-Trucks 183 Land 201 Accounts payable 209 Salaries payable 233 Unearned fees 301 F. Planta, Capital 302 F. Planta, Withdrawals 401 Plumbing fees eamed 611 Depreciation expense-Trucks 622 Salaries expense 640 Rent expense 677 Miscellaneous expenses Totals $ 17,500 32,000 15,000 4,200 3,600 65,500 15,400 84,000 6,500 38,000 13,000 8,700 $189,800 $189,800 Net income Totals

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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