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Unformatted text preview: M4-1)Puglisi CompanyAdjusted Trial BalanceAt June 30, 2007DescriptionDebitCreditCash 120Accounts Receivable 350Prepaid Expenses 40Inventories 610 Buildings and Equipment 1,400Land 200Accumulated Depreciation 250Accounts Payable 200Accrued Expenses Payable 150Income Taxes Payable 30Unearned Fees 100Long Term Debt 1,300Contributed Capital 300Retained Earnings 120Sales Revenue 2,400Interest Income 50Cost of Sales 820Interest Expense 80Rent Expense 400Salaries Expense 660Income Taxes Expense 110Depreciation Expense110Total 4,900 4,900M4-2)1.D2.B3.D4.C5.A6.C7.B8.AM4-3)1.A2.B3.C4.DM4-4)A) 1) Deferred Revenue 2) Unearned Rent Fees (-L)800Rent Revenue (+R)800B) 1) Deferred Expense2) Insurance Expense (+E)900Prepaid Insurance (-A)900C) 1) Deferred Expenses2) Depreciation Expense (+E)12,000Accum. Deprec. (-A)12,000E4-3)1) 2) A) Accrued ExpenseWages Expense (+E)6,000Wages Payable (+L)6,000Wages from 2008, will be paid January 6, 2009B) Accrued RevenueInterest Revenue (+R)3,000Accounts Receivable (+A) 3,000Interest Earned in 2008, will collected March 1,...
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This homework help was uploaded on 02/19/2009 for the course HA 230 taught by Professor Davidlee during the Fall '06 term at Cornell University (Engineering School).
- Fall '06