Unadjusted R Interiors End of Period Spreadsheet (Worksheet) January 31, 2019 Adjustments Adjusted Income Statement Balance sheet Equipment Accumulated Truck Cash Supplies Account Prepaid Insurance Depreciation-Equipment Accumulated Depreciation-Truck Trial Balance Debit Credit Debit Credit Trial Balance Debit Credit Debit Credit Debit Credit $ 13,100 $ 13,100 $ 13,100 8,000 5.150 a. 2,850 2,850 7.500 3,150 b. 4,350 113,000 113,000 4,350 113,000 $12,000 5,250 e $17,250 $ 17,250 90,000 90,000 90,000 $ 27,100 4,000 d $31,100 Accounts Payable Wages Payable JM Capital 4,500 4,500 $31,100 4,500 900 e 900 900 126,400 126,400 126,400 JM Drawing Service Revenue Wages Expense 3,000 3,000 3,000 155.000 155.000 155.000 72,000 900 72,900 72.900 Rent Expense 7,600 7,600 7,600 Truck Expense 5,350 5,350 5,350 Depreciation Expense-Equipment 5,250 5,250 5,250 Supplies Expense 5,150 5.150 5,150 Depreciation Expense-Equipment d. 4,000 4,000 4,000 Insurance Expense b. 3.150 3,150 3,150 Miscellaneous Expense 5.450 5.450 5.450 Total $325,000 $325.000 S 18.450 S 18.450 $335.150 $335.150 $108,850 $155,000 $226,300 Net Income 46,150 155.000 155.000 226.300 $226,300 $180,150 46,150

Unadjusted R Interiors End of Period Spreadsheet (Worksheet) January 31, 2019 Adjustments Adjusted Income Statement Balance sheet Equipment Accumulated Truck Cash Supplies Account Prepaid Insurance Depreciation-Equipment Accumulated Depreciation-Truck Trial Balance Debit Credit Debit Credit Trial Balance Debit Credit Debit Credit Debit Credit $ 13,100 $ 13,100 $ 13,100 8,000 5.150 a. 2,850 2,850 7.500 3,150 b. 4,350 113,000 113,000 4,350 113,000 $12,000 5,250 e $17,250 $ 17,250 90,000 90,000 90,000 $ 27,100 4,000 d $31,100 Accounts Payable Wages Payable JM Capital 4,500 4,500 $31,100 4,500 900 e 900 900 126,400 126,400 126,400 JM Drawing Service Revenue Wages Expense 3,000 3,000 3,000 155.000 155.000 155.000 72,000 900 72,900 72.900 Rent Expense 7,600 7,600 7,600 Truck Expense 5,350 5,350 5,350 Depreciation Expense-Equipment 5,250 5,250 5,250 Supplies Expense 5,150 5.150 5,150 Depreciation Expense-Equipment d. 4,000 4,000 4,000 Insurance Expense b. 3.150 3,150 3,150 Miscellaneous Expense 5.450 5.450 5.450 Total $325,000 $325.000 S 18.450 S 18.450 $335.150 $335.150 $108,850 $155,000 $226,300 Net Income 46,150 155.000 155.000 226.300 $226,300 $180,150 46,150

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 20CE

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