Chapter 04 - Problem 4-5A Part 1 ADAMS CONSTRUCTION CO....

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Problem 4-5A Part 1 ADAMS CONSTRUCTION CO. Work Sheet For Year Ended June 30, 2005 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet & Statement of Owner’s Equity No. Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 101 Cash. ................................ 17,500 17,500 17,500 126 Supplies. ........................... 8,900 (a) 5,700 3,200 3,200 128 Prepaid insurance. .............. 6,200 (b) 3,900 2,300 2,300 167 Equipment. ........................ 131,000 131,000 131,000 168 Accumulated depreciation— Equipment. ....................... 25,250 (c) 8,500 33,750 33,750 201 Accounts payable. .............. 5,800 (d) 550 6,350 6,350 203 Interest payable. .................. (h) 240 240 240 208 Rent payable. ..................... (f) 200 200 200 210 Wages payable. .................. (e) 1,600 1,600 1,600 213 Property taxes payable. ........ (g) 900 900 900 251 Long-term notes payable. ..... 24,000 24,000 24,000 301 S. Adams, Capital. ............... 77,660 77,660 77,660 302 S. Adams, Withdrawals. ........ 30,000 30,000 30,000 401 Construction fees earned. ..... 134,000 134,000 134,000 612 Depreciation expense— Equipment. ....................... (c) 8,500 8,500 8,500 623 Wages expense. ................. 45,860 (e) 1,600 47,460 47,460 633 Interest expense. ................. 2,640 (h) 240 2,880 2,880 637 Insurance expense. ............. (b) 3,900 3,900 3,900 640 Rent expense. .................... 13,200 (f) 200 13,400 13,400 652 Supplies expense. ............... (a) 5,700 5,700 5,700 683 Property taxes expense. ....... 4,600 (g) 900 5,500 5,500 684 Repairs expense. ................ 2,810 2,810 2,810 690 Utilities expense. ................. 4,000 ______ (d) 550 _____ 4,550 ______ 4,550 ______ ______ ______ Totals. ............................... 266,710 266,710 21,590 21,590 278,700 278,700 94,700 134,000 184,000 144,700 Net Income. ........................ 39,300 ______ ______ 39,300 Totals. ............................... 134,000 134,000 184,000 184,000
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Part 2 Adjusting entries (all dated June 30, 2005): (a) Supplies Expense. ........................................................ 5,700 Supplies. .............................................................. 5,700 To record consumption of supplies.
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This note was uploaded on 06/29/2008 for the course ACCT 220 taught by Professor William during the Spring '08 term at University of Findlay.

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Chapter 04 - Problem 4-5A Part 1 ADAMS CONSTRUCTION CO....

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