ACC225WK4A - Problem 4-5A Adams Construction Company Work...

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Problem 4-5A Adams Construction Company Work Sheet End of 2005 Fiscal Year NO Account Unadjusted Trial Balance Dr. Cr. Adjustments Dr. Cr. Adjusted Trial Balance Dr. Cr. 101 Cash $17,500 Dr. 17500 126 Supplies 8,900 3200 Dr. 5700 128 Prepaid Insurance 6,200 3900 Dr. 2300 167 Equipment 131,000 Dr. 131000 168 Accumulated depreciation-Equip. $ 25,250 8500 Cr. 33750 201 Accounts Payable 5,800 5000 550 Cr. 11,350 203 Interest Payable 0 240 Cr. 240 208 Rent Payable 0 200 Cr. 200 210 Wages Payable 0 1600 Cr. 1600 213 Property Taxes Payable 0 900 Cr. 900
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251 Long-term notes payable 24,000 5000 Cr. 19000 301 S. Adams, Capital 77,660 Cr. 77660 302 S. Adams, Withdrawals 30,000 Dr.30000 401 Construction Fees Earned 134,000 Cr. 134000 612 Depreciation Expense-Equipment 0 8500 Dr. 8500 623 Wages Expense 45,860 1600 Dr. 47460 633 Interest Expense 2,640 240 Dr. 2880 637 Insurance Expense 0 3900 Dr. 3900 640 Rent Expense 13,200 200 Dr. 13400 652 Supplies Expense 0 3200 Dr. 3200 683 Property Taxes Expense 4,600 900 Dr. 5500 684 Repairs Expense 2,810 Dr. 2810 690 Utilities Expense 4,000 550 Dr. 4550 Totals $266,710 $266,710 $24090 $24090 $278,700 $278,700 Adams Construction Company Balance Sheet June 30, 2005 Assets
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Cash………………………………. $17,500 Accounts Receivable………………………………… 0 Supplies………………………………………. 5700 Prepaid Insurance…………………………. 2300 Equipment…………………………. 131,000 Less Accumulated Depreciation……… 33750 $97,250 Total Assets………………………………………. $122,750 Liabilities Accounts Payable…………… $11,350 Interest Payable…………………………… $240 Rent Payable………………………… $200 Wages Payable……………………….. $1,600 Property Taxes Payable………………………… $900 Long-term Notes Payable………………… $19,000 Total Liabilities……………………….. $33,290 Equity S. Adams, Capital……………………. $77,660
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