Copy of 04-1A_10e

Copy of 04-1A_10e - Problem 4-1A Name Trumaine Cyprian...

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Unformatted text preview: Problem 4-1A Name: Trumaine Cyprian Section: Ch 4 Week 4 Enter the appropriate amount or item in the shaded cells. An asterisk (*) will appear next to an incorrect entry in the outlined cells. Use the pull-down list to select the appropriate account in the journal. 1. PRISON WATCH COMPANY Income Statement For the Year Ended June 30, 2010 Revenues: Fees Revenue $281,200 Rent Revenue 4,000 $285,200 Expenses: Salaries and Wages Expense $147,000 Advertising Expense 86,800 Utilities Expense 30,000 Travel Expense 18,750 Depreciation Expense - Equipment 6,000 Depreciation Expense - Building 2,500 Supplies Expense 1,525 Insurance Expense 900 Miscellaneous Expense 5,875 Total expenses 299,350 Net Loss $14,150 2. PRISON WATCH COMPANY Retained Earnings Statement For the Year Ended June 30, 2010 Retained earnings, July 1, 2009 $186,300 Net loss for the year $14,150 Add dividends 20,000 Decrease in retained earnings 34,150 Retained earnings, June 30, 2010 $152,150 3. PRISON WATCH COMPANY Balance Sheet June 30, 2010 Assets Liabilities Current assets: Current liabilities Cash $5,100 Accounts Payable $9,750 Accounts Receivable 13,950 Salaries and Wages Payable 1,900 Prepaid Insurance 2,700 Unearned Rent 500 Supplies 500 Total liabilities $12,150 Total current assets $22,250 Property, plant, and equipment:...
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Copy of 04-1A_10e - Problem 4-1A Name Trumaine Cyprian...

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