Ch05P3A - Problem 5-3A Blue Max Construction Work Sheet For...

Problem 5-3A 2. 3.
Blue Max Construction
Work Sheet
For Year Ended September 30, 2005
Account
Adjustments Income Statement General Journal
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Date Accounts and explanation PR Debit Credit
Cash 18,000 Sept. 30
Supplies 9,400
Prepaid insurance 6,200
Equipment 81,000
Accumulated amortization, equipment 20,250
Accounts payable 4,800
Interest payable -
Rent payable -
Wages payable -
Estimated business taxes payable -
Long-term notes payable 25,000
Tony Morrison, capital 27,660
Tony Morrison, withdrawals 36,000
Construction fees earned 140,000
Amortization expense, equipment -
Wages expense 41,000
Interest expesne 1,500
Insurance expense -
Rent expense 13,200
Supplies expense -
Business taxes expense 5,000
Repairs expense 2,510
Utilities expense 3,900
Totals 217,710 217,710
4. Analysis of potential errors
Unadjusted
Trial Balance
Adjusted Trial
Balance
Balance Sheet &
Statement of Owner's
Equity

4.
Analysis component:
Blue Max Construction
Income Statement
Revenues:
Construction fees earned
Operating expenses:
Amortization expense, equipment