3-6 ACC382

3-6 ACC382 - Name: Section: Problem 3-6 Enter the...

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Name: Section: Problem 3-6 Enter the appropriate amount or formula in the shaded cells. An asterisk (*) will appear in the column to the right of an incorrect amount. Enter deductions as negative numbers. 1. Assets = Liabilities + Stockholders' Equity Laundry Laundry Prepaid Laundry Acc. Accts. Wages Capital Ret. Laundry Wages Rent Util. Dep. Supplies Ins. Misc. Cash + Supplies + Ins. +Equipment- Dep. = Pay + Pay. + Stock + Earn. - Div. + Rev. - Exp. - Exp. - Exp. - Exp. - Exp. - Exp. - Exp. Aug. 31 Balanc 25,000 6,000 4,800 225,000 45,000 5,100 0 36,000 30,300 4,000 280,000 77,500 28,000 22,600 0 0 0 3,500 Adjustment a 3,200 3,200 Balances 3,200 80,700 Adjustment b 15,000 15,000 Balances 60,000 15,000 Adjustment c -3,500 3,500 Balances 2,500 3,500 Adjustment d -3,000 3,000 Balances 1,800 3,000 2. NOCTURNAL LAUNDRY, INC. Income Statement For the Year Ended August 31, 2007 Laundry revenue $280,000 Operating expenses: Wages expense $80,700 Rent expense 28,000 Utilities expense 22,600 Depreciation expense 15,000
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3-6 ACC382 - Name: Section: Problem 3-6 Enter the...

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