f98mid1 - O 1,0 (M TA 3de . FA LL OF ’93 CIWTEIL 1-5 1....

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Unformatted text preview: O 1,0 (M TA 3de . FA LL OF ’93 CIWTEIL 1-5 1. Writ: the stops: in (In: summing 53mm II Huullfigc ‘I. '-‘.-u.-.-..' . vr. II.JI '-£-'.1Ef)c‘{llfl"? 2'1 Il't."_||- Ian-".W'l .I’I.|L-|r1 Ili .yl‘Ir/f/C/{I .irq'fi'rgc'rr 3'] 'ICIIH I'- .--.-= ' '(F: I'mpllrllrfi '31ch I; mar-T u__ "3.“ Id. I, 'c ~_ _-_ rt '72.") 'lfi-IEIImvfr [:_._.-_;.._- ml ‘3"1-rl'15IH-‘T‘L5 __ . I . . [fl-1| 3Uu.-n"':{ L Illa-'- '-rl.v'r' '_ If" "Mil 71" jinn-'Lw‘IIIL'II- Pfl-fi 5"”: u! Inniwtcl 3' '-’u-l-1.v.n l 'I “r. '- I’ Par-'1,- . --'_F.’ Thar. #- 3. EprEan how :I perpetual inventory 533mm 1% TM anfl'rwuj fun-1‘0"; 'Hglgm is Win?! «‘0 arrow”- JJ-y? EFT lers'rfi' Jlxuwir‘] .n' LLifiuaHy‘ EW‘J‘F. M‘f'z’mlw new”) "a" 1&1!“th “nu-A I... jaw-:nyf {:1 “H'- IE-‘TI! a": :1": n m Llrdfipxrlf '4') 3”" a: HY Manx-c.me firrfll’j, :'E-nfln H._ +3" 'L-‘- urvam/y r:- rU-ur 1 [15. Prepare adjusting entries for Warld Travelers Travel Agency on December3 1 . iBKS. bailed on the O / .l. riff"! L unadiusled trial balance and 1|1e additional information provided bclow. Wurlri Travelers Travel alligenc'lir Trial Balance December 3 1. “3315 (2.1511 accnums receivable Supplies l’rcpairj insurance Prepaid renli [.3an Building Accum. depreciation-building Equipment Accum. depreciation-equipment ficmunls Fla-gable Eialeryr pd'r'JI-Jh: Unearncd SenriCe revenue Mortgage payable Tim Dillard. capilal Tim Dillard. withdrawal-5 Sen'icr: revenue Salaqr expense Utilities expense In EurflnEE exp emu.- Depreciation expense-building Depreciation expense-equip n'Icnl Supplies expense Total Additionai I'nl'brmatipn: 'a. Accrued salariesr $5,500 in. Depreciation on building. SSEDCI c. Dupruciarinn cu: equipmenl. $3.000 d. e. f. Accrued service revenue. $5.503 Unearned sen-ice revenue earned during 'I‘IIXS. weer} Prepaid renL expired. $6.UUO Debil $ 15.000 30.00:} 3.200 1.500 ill] DU 40.0% ififlflflfl' FEDDU 231MB 55mm 24.000 i454 mo Igak g. Unexpired prepaid insurance up December 3], 19X5. $3.200 .'I,|.- 11....3 Ira-i 5- Ill-clI DE. 9.. Suit”? {HIM “'1'; gel-’9‘" guilt”? fiwumfi b flat-irriflLL-i fine-adr- -‘...,.'I¢J|.Il Slaw damn...“ , ..i. C» [Evita-Hum bvfl‘"“_(ifiwlrw 13PM"). gulp“: - (fl...l1iv-:IIJ- f ['5 .fifluuuu fi4(.t.n1.ib Iii-:49.) fun-ii: 'IT-E'J't'nufi _ 93 e EgnF UkF£fl$£ EJH ' [2 'i" 'F'lflfl'd “" pm. 1.30:1 g [hum-Nell :JL-W'H- Erwin. Eur-N- 1;?— 55m 5W“. grade Brew flaunt) 1|?“u Credit 5 12.000 25.500 10mme LELUCID 23?.200 ISfS‘l-JUU “cu-"J “flurdk DE til-3w \ ILL-i: “33’- I"FEFIEIFE 3' daiilllw balance sheet In report lurm 0.1500 on Ihe nurtured trial balance Inr me Linllln'le Company on BIL-Cumber 31, 19x1 Builtrile £001 pan-yI Aditi$ted Tria1 Balance December 31, T910, Cash Accounts receivablu Prepaid :e-nt Prepaid fnsurnncrl. Supplies Land Building Acmmulalcd (Jenn-building Equiprricni Amumulated depn.-r_-00ipmenl Accounts payable Salary parable InIL'tL'sL payablE' Mortgage payable [due 1233019309] Mike Efluiltrite, capiaal Mike Buillrile, wilhdrawals Service revenue Salary 4:11pm“? Insurance EXPEIISL‘ Rent expensu Utilities expense Mverlising expensc Depreciatiun expensLul-Juifding Debit 3 12,000 0,000 5,000 2.500 3,200 30.000 50.000 35.000 Credit 5 10,000 3,000 3.000 3.0 00 1,000 50.000 94,900 90,000 Dthrr'x {3551? 00019301340 “f'l'wi‘ ‘Tb‘m'i L'fi' "1"." L-‘Wl L? ‘1‘” _ _ 5‘19“ Deprecmllon up Emmeqw-pmem Suppiics expense T0011 {J I 1 La,“ _ L‘ luau." ‘4 Lek Elfin“ LL '1'“qu {b _ t '-I':"1. ll-rn'. l'ull‘m "u.-H I.‘{ Eda-a}:- -' {Fl .‘Ilu ‘I‘w “' _.__ main-dz 11' I [fixl I: want IJ-LHfir.’ Chain. ii" 11-. DBL: {3* It” Uu'."_, anwfl-k n I as U Q“ “Hun-[nil 134,.» BIC-Lib ID fury-fill. Inw-‘uflifi. 1 1E“): qullrh-fl‘g '3 335; -qu -1:c.lm AWE-r. 0w :4 1 go Fur-'0 Ina-MI“! ' - MM fiat“... Ear—540d“? Iflralllu £00,000 5 u: Infin-i- $2M.” 0:01: qu'vt - {fig-15W“ i’ '1 WI] IE: 5'3: Thu-1‘5. EFF...— Cir—rim Lflfifllfl‘r‘j mum £1th Via-Joel»- Um Emlng Immii has“ .' 4,011“)? "in" "HIT: Lam Hr»... L-Lflfl'if mnnquflt Fan-Hula?— 505.?” 1-- filmed-J l1"|'-' .' .' 'l I'r "' II 15.7171”? i3q1'i‘99 1 "I 3- FDHGWI'F'S is an alphabetical list vi the Mutts, Iiabililjes, renames and expenses ui Modern. Interiors. Prepare an income Slatament [m liw yaar ended Septembc. 3.0, 19x5. hcc—emIL—juyn ble 3 120-0 1 NuMfimTIhlL- ‘1 5,000 Aceuumrmtfia blur.- 4,5Dfl Rum run-Inning ILEUU Adverlising expense ?,20I’J Salary expense 9,3111 Cam-h. 111,200 Salaw-pnyume LEW FuHHTi'mTe 16,300 Sen-Eu: revenue sumo Interest expense 31500 Supplies 2.309 IIlh‘fl-II'L'J-fill‘": :- "“ ""51 i__l "Hi 13-. _.. -..“-.r.| '-. yu’utrvuf ficlll E‘LJIHrIIT '1': rucnmr": EDrJfi-tgh IIIQ-[ugl-‘U‘fi ELLE-EL If? vfznfic'j _ Rf“... L'vrgat‘: Link-LID cjullwlr CHI, Shine) M“”‘"*i”'l 9*? 1.1m: F! .Ill—EEIL BE :43. 1(1‘1': min 1; Maw-i 'EW MG J-F E33. Accrual—Enein Versus Cecil—Basis Accounting Bruno Neon Lights: Company ha5 been in business for several years. During this time period; Brunt: has been preparing his business's income statement by using cashhbaeis accounting procedures. Recently", Bruno hired a finn of accountahtfi to prepare his financial statements. The accoUntant informed BrLIno that he would prepare the income statement for the current year using accrual- Denis accounting. Bruno only has a vague idea of what accrual- hnein accounting in. He is also concerned that the income calculated using accrual—basis accounting procedures might be significantly different than if: canli—baeia accounting procedures were used. RE IRED.’ Briefly describe accrual—besie- accounting for Bruno. -r |-.r {iv/(Meir -"-_.o- 5- L '- '1», ' Jhr affrerr J1- pr—' ,I'fl. . . ,I. . .. __ __ ._ ffla.fra/.-f‘ r)_ .'u Jamar F/arrrL-‘r ’"L- ' -‘ -’-' .‘J .-r.- “ficfr --'; (Hf [Mu :1... mu,” “m 3W?" "’“'""“”/‘T .""’"“’F K‘”"“"’:”--'“ L? [pl-1|}, _._.I.|‘.|'5:__-I If?“ Vfrg-Ilf J'frsr: :vh’ ;,_.-,_-- 1I'|I..-_' .'.-.-mll__ _.-' (VI, ['9' fly-d- I-Ilflrrfllf’; firxf/Hrlf (fr 3/1 p ._ :r .1 u T.» 1'; .rl'r-I-I' , {5— 'I'I§'/.'.___.u' slum: -Lflt-l I.'r.'.-,.a-.'.' 3-.- l — .'-_.1 r What Is 1hr: purpose of artfustjug cnlrits? I‘ flair-ken? Lung {rrrmr'crn-I: w (Ir-“In;- “K. (.1 llféw'} 1 I _ . I. .— L1 met f hl H5] 1h”th Fr'+'| L.-'|1 .1. "I “I WIT“) “M” H "NJ I" n ll‘fI'IIL-trl fin; .I"I {ffiflllrfir’ QPVKHHIJ fly 'd‘mflwirjl {radix-TIT l'v’ Dru-lfllrf} 25’ I"-'""6-rc’ F/r“r"1{€ qu'flfl'nr— 5‘1": . L, J an tmnwéq'd ski-r'rI--:r1|:-1 'l-J JI‘L'U/ I'rivin- Drawn anon ul' Silicon anl .|~|:i5 [usl um; Mgr-U; rut F: [P1 Thrill-‘1. Lila? I.“ J I'r'fl'l-r'flxl rd. 3'11 G’eflfl-r . ...
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This note was uploaded on 10/26/2009 for the course ECON 10A taught by Professor Gusarson during the Fall '07 term at UCSC.

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f98mid1 - O 1,0 (M TA 3de . FA LL OF ’93 CIWTEIL 1-5 1....

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