The balances of the ledger accounts of Beldren Home Center as of December 31, the end of its fiscal year, are as follows: Cash $ 10,628 Accounts Receivable 43,939 Merchandise Inventory 120,369 Supplies 1,577 Prepaid Insurance 2,605 Store Equipment 35,824 Accumulated Depreciation, Store Equipment 29,632 Office Equipment 10,536 Accumulated Depreciation, Office Equipment 1,731 Notes Payable 5,003 Accounts Payable 29,756 Unearned Rent 3,230 A. P. Beldren, Capital 117,275 A. P. Beldren, Drawing 28,812 Sales 655,150 Sales Returns and Allowances 9,732 Purchases 518,987 Purchases Returns and Allowances 12,437 Purchases Discounts 8,678 Freight In 24,820 Wages Expense 54,288 Interest Expense 775 Data for the adjustments are as follows: a-b. Merchandise Inventory at December 31, $101,887. c. Wages accrued at December 31, $1,828. d. Supplies inventory (on hand) at December 31, $644. e. Depreciation of store equipment, $5,738. f. Depreciation of office equipment, $1,809. g. Insurance expired during the year, $846. h. Rent earned, $2,485. Required: Complete the work sheet. If an amount is zero, enter "0". Beldren Home Center Work Sheet For Year Ended December 31, 20-- ** The table as shown in images+  " Net Income" Account ( placed on very last on table)

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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The balances of the ledger accounts of Beldren Home Center as of December 31, the end of its fiscal year, are as follows:

Cash $ 10,628
Accounts Receivable 43,939
Merchandise Inventory 120,369
Supplies 1,577
Prepaid Insurance 2,605
Store Equipment 35,824
Accumulated Depreciation, Store Equipment 29,632
Office Equipment 10,536
Accumulated Depreciation, Office Equipment 1,731
Notes Payable 5,003
Accounts Payable 29,756
Unearned Rent 3,230
A. P. Beldren, Capital 117,275
A. P. Beldren, Drawing 28,812
Sales 655,150
Sales Returns and Allowances 9,732
Purchases 518,987
Purchases Returns and Allowances 12,437
Purchases Discounts 8,678
Freight In 24,820
Wages Expense 54,288
Interest Expense 775

Data for the adjustments are as follows:

a-b. Merchandise Inventory at December 31, $101,887.
c. Wages accrued at December 31, $1,828.
d. Supplies inventory (on hand) at December 31, $644.
e. Depreciation of store equipment, $5,738.
f. Depreciation of office equipment, $1,809.
g. Insurance expired during the year, $846.
h. Rent earned, $2,485.

Required:

Complete the work sheet. If an amount is zero, enter "0".

Beldren Home Center
Work Sheet
For Year Ended December 31, 20--

** The table as shown in images+  " Net Income" Account ( placed on very last on table)

Thanks

 

The image represents a worksheet layout for financial accounting, typically used to compile financial statements. It's structured for the year ending December 31, 20--. The worksheet is divided into sections to assist in the preparation of a trial balance, adjustments, an income statement, and a balance sheet.

### Columns:
1. **Account Name:** Lists the names of various accounts.
2. **Trial Balance (Debit/Credit):** Used to list the balances of different accounts before adjustments.
3. **Adjustments (Debit/Credit):** Space to record any adjustments needed to prepare financial statements.
4. **Income Statement (Debit/Credit):** Used to determine the net income or loss by listing revenue and expenses.
5. **Balance Sheet (Debit/Credit):** Displays assets, liabilities, and equity to ensure that accounts are accurately balanced after adjustments.

### Account Names:
1. Cash
2. Accounts Receivable
3. Merchandise Inventory
4. Supplies
5. Prepaid Insurance
6. Store Equipment
7. Accumulated Depreciation, Store Equipment
8. Office Equipment
9. Accumulated Depreciation, Office Equipment
10. Notes Payable
11. Accounts Payable
12. Unearned Rent
13. A. P. Beldren, Capital

This worksheet aids in organizing financial data, ensuring accuracy, and providing a clear view of a company’s financial status at year-end.
Transcribed Image Text:The image represents a worksheet layout for financial accounting, typically used to compile financial statements. It's structured for the year ending December 31, 20--. The worksheet is divided into sections to assist in the preparation of a trial balance, adjustments, an income statement, and a balance sheet. ### Columns: 1. **Account Name:** Lists the names of various accounts. 2. **Trial Balance (Debit/Credit):** Used to list the balances of different accounts before adjustments. 3. **Adjustments (Debit/Credit):** Space to record any adjustments needed to prepare financial statements. 4. **Income Statement (Debit/Credit):** Used to determine the net income or loss by listing revenue and expenses. 5. **Balance Sheet (Debit/Credit):** Displays assets, liabilities, and equity to ensure that accounts are accurately balanced after adjustments. ### Account Names: 1. Cash 2. Accounts Receivable 3. Merchandise Inventory 4. Supplies 5. Prepaid Insurance 6. Store Equipment 7. Accumulated Depreciation, Store Equipment 8. Office Equipment 9. Accumulated Depreciation, Office Equipment 10. Notes Payable 11. Accounts Payable 12. Unearned Rent 13. A. P. Beldren, Capital This worksheet aids in organizing financial data, ensuring accuracy, and providing a clear view of a company’s financial status at year-end.
The image displays a table from a textbook titled “Chapter 11 Homework Problems”. It includes various financial terms commonly used in accounting. Each term appears to have a series of empty fields next to it, likely meant for entering numerical data. Below is a transcription of the listed financial terms:

1. A. P. Beldren, Drawing
2. Sales
3. Sales Returns and Allowances
4. Purchases
5. Purchases Returns and Allowances
6. Purchases Discounts
7. Freight In
8. Wages Expense
9. Interest Expense
10. Income Summary
11. Wages Payable
12. Supplies Expense
13. Depreciation Expense, Store Equipment
14. Depreciation Expense, Office Equipment
15. Insurance Expense
16. Rent Income

Each row beside these terms contains multiple blank cells possibly for recording different transaction amounts related to each account. The layout suggests a structured format for accounting exercises where students fill in amounts to practice bookkeeping tasks. There are no graphs or diagrams present.
Transcribed Image Text:The image displays a table from a textbook titled “Chapter 11 Homework Problems”. It includes various financial terms commonly used in accounting. Each term appears to have a series of empty fields next to it, likely meant for entering numerical data. Below is a transcription of the listed financial terms: 1. A. P. Beldren, Drawing 2. Sales 3. Sales Returns and Allowances 4. Purchases 5. Purchases Returns and Allowances 6. Purchases Discounts 7. Freight In 8. Wages Expense 9. Interest Expense 10. Income Summary 11. Wages Payable 12. Supplies Expense 13. Depreciation Expense, Store Equipment 14. Depreciation Expense, Office Equipment 15. Insurance Expense 16. Rent Income Each row beside these terms contains multiple blank cells possibly for recording different transaction amounts related to each account. The layout suggests a structured format for accounting exercises where students fill in amounts to practice bookkeeping tasks. There are no graphs or diagrams present.
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