AP41a - Thomas Magnum began operations as a private...

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THOMAS MAGNUM, P.I Worksheet For the Quarter Ended March 31, 2008 Trial Balance Dr. Cr. Cash 11,400 5,620 Supplies 1,050 2,400 30,000 10,000 12,350 20,000 600 13,620 2,200 1,300 Thomas Magnum began operations as a private investigator on January 1, 2008. The trial balance columns of the worksheet for Thomas Magnum, P.I. at March 31 are as follows. Account Titles Accounts Receivabl e Prepaid Insurance Equipmen t Notes Payable Accounts Payable T. Magnum, Capital T. Magnum, Drawings Service Revenue Salaries Expense Travel Expense
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1,200 200 55,970 55,970 Other data: 1. Supplies on hand total $380. 2. Depreciation is $1,000 per quarter. Incorrect. THOMAS MAGNUM, P.I. Worksheet for the Quarter Ended March 31, 2008 Trial Balance Adjustments Dr. Cr. Dr. Cr. Dr. Cr. Cash 11,400 0 0 11400 0 5,620 530 0 0 Supplies 1,050 0 670 380 0 Rent Expense Miscellan eous Expense 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
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AP41a - Thomas Magnum began operations as a private...

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