Work Sheet P. Tang and Compal TRIAL BALANCE ADJUSTMENTS INCOME STATEMENT ACCOUNTS DR CR DR CR DR CR DR CR 1800 19500 1000 1750 22000 21000 Bank Accounts Receivable Supplies Prepaid Insurance Equipment Automobile Accounts Payable P. Tang, Capital P. Tang, Drawings Fees Earned Car Expense General Expense Miscellaneous Expense Rent Expense Wages Expense 4360 54 040 - 15000 60300 3800 2950 700 7200 22000 118700 118700 plote the eight-column
Work Sheet P. Tang and Compal TRIAL BALANCE ADJUSTMENTS INCOME STATEMENT ACCOUNTS DR CR DR CR DR CR DR CR 1800 19500 1000 1750 22000 21000 Bank Accounts Receivable Supplies Prepaid Insurance Equipment Automobile Accounts Payable P. Tang, Capital P. Tang, Drawings Fees Earned Car Expense General Expense Miscellaneous Expense Rent Expense Wages Expense 4360 54 040 - 15000 60300 3800 2950 700 7200 22000 118700 118700 plote the eight-column
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Chapter 9
Section 9.2
Exercises
1. The simplified work sheet for P. Tang and Company, shown below with the trial
balance figures already entered, is provided in the Workbook.
Ba
|A.
Work Sheet
P. Tang and Company
Year Ended Dec. 31, 20–4
Pr
TRIAL BALANCE
ADJUSTMENTS
INCOME STATEMENT
BALANCE SHEET
ACCOUNTS
DR
CR
DR
CR
DR
CR
DR
CR
1800
19500
1000
1750
22000
21000
Bank
Accounts Receivable
Supplies
Prepaid Insurance
Equipment
Automobile
Accounts Payable
P.Tang, Capital
P.Tang, Drawings
Fees Earned
Car Expense
General Expense
Miscellaneous Expense
Rent Expense
Wages Expense
4360
54040
1500
60300
3800
2950
700
7200
22000
18700 – ||8700 –
A. Using the additional information given below, complete the eight-column
work sheet.
B. Journalize the adjusting entries in a two-column general journal.
C. Post the adjusting entries to the T-account ledger provided in the
Workbook and take off an adjusted trial balance.
Optional
D. Prepare an income statement and a classified balance sheet.
Additional Information
1. The value of the supplies on hand at the year-end amounted to $700.
2. The prepaid insurance at the year-end was calculated at $800.
3. Late-arriving invoices pertaining to the 20-4 fiscal period were:
Car Expense
General Expense
$ 75
100
Total
$175
Jance fis-](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0c0c51c5-fc0e-41b5-894a-d6606d31c861%2F20c7ba14-e86c-431b-b4e0-21a5acc6791b%2Funhe45z_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Chapter 9
Section 9.2
Exercises
1. The simplified work sheet for P. Tang and Company, shown below with the trial
balance figures already entered, is provided in the Workbook.
Ba
|A.
Work Sheet
P. Tang and Company
Year Ended Dec. 31, 20–4
Pr
TRIAL BALANCE
ADJUSTMENTS
INCOME STATEMENT
BALANCE SHEET
ACCOUNTS
DR
CR
DR
CR
DR
CR
DR
CR
1800
19500
1000
1750
22000
21000
Bank
Accounts Receivable
Supplies
Prepaid Insurance
Equipment
Automobile
Accounts Payable
P.Tang, Capital
P.Tang, Drawings
Fees Earned
Car Expense
General Expense
Miscellaneous Expense
Rent Expense
Wages Expense
4360
54040
1500
60300
3800
2950
700
7200
22000
18700 – ||8700 –
A. Using the additional information given below, complete the eight-column
work sheet.
B. Journalize the adjusting entries in a two-column general journal.
C. Post the adjusting entries to the T-account ledger provided in the
Workbook and take off an adjusted trial balance.
Optional
D. Prepare an income statement and a classified balance sheet.
Additional Information
1. The value of the supplies on hand at the year-end amounted to $700.
2. The prepaid insurance at the year-end was calculated at $800.
3. Late-arriving invoices pertaining to the 20-4 fiscal period were:
Car Expense
General Expense
$ 75
100
Total
$175
Jance fis-
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