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Unformatted text preview: Thomas Magnum began operations as a private investigator on January 1, 2008. The trial balance columns of the worksheet for THOMAS MAGNUM, P.I., INC. at March 31 are as follows. Other data: 1. Supplies on hand total $380. 2. Depreciation is $1,000 per quarter. 3. Interest accrued on 6-month note payable, issued January 1, $300. 4. Insurance expires at the rate of $200 per month. 5. Services provided but unbilled at March 31 total $530. THOMAS MAGNUM, P.I., INC. Worksheet For the Quarter Ended March 31, 2008 Trial Balance Account Titles Dr. Cr. Cash 11,400 Accounts Receivable 5,620 Supplies 1,050 Prepaid Insurance 2,400 Equipment 30,000 Notes Payable 10,000 Accounts Payable 12,350 Common Stock 20,000 Dividends 600 Service Revenue 13,620 Salaries Expense 2,200 Travel Expense 1,300 Rent Expense 1,200 Miscellaneous Expense 200 55,970 55,970 Complete the worksheet. (If answer is zero, please enter 0. Do not leave any fields blank.)(If answer is zero, please enter 0....
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This note was uploaded on 09/09/2010 for the course ACCOUNTING 2345 taught by Professor Dr.ijueh during the Spring '10 term at twsu.edu.
- Spring '10