Acct_Cycle_Problem - Sheet1 UPTOWN PLUMBING UNADJUSTED...

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Sheet1 Page 1 UPTOWN PLUMBING UNADJUSTED TRIAL BALANCE Adjusting entries AS OF DEC 31, 1996 Debit Credit 1 The current supplies inventory is 1,400 CASH 45,000 2 The insurance was purchased on 11/1 for 9months ACCOUNTS REC. 5,300 SUPPLIES 4,800 PREPAID INS. 1,800 4 The note was taken out on Jan 1, 1996 @ 10% for 5yrs. LAND 56,000 EQUIPMENT 74,000 ACC. DEPRECIATION 10,000 12/31 SUPPLIES EXPENSE 3,400 ACCOUNTS PAY. 34,000 SUPPLIES INVENTORY 3,400 WAGES PAY 1,000 12/31 INSURANCE EXPENSE 400 NOTES PAY 40,000 PREPAID INSURANCE 400 COMMON STOCK 61,200 12/31 DEPRECIATION EXP. 12,000 RETAINED EARN. 14,000 ACC. DEPRECIATION 12,000 DIVIDENDS 10,000 12/31 INTEREST EXPENSE 4,000 SALES REVENUE 92,000 INTEREST PAYABLE 4,000 WAGES EXPENSE 55,300 252,200 252,200 Required: Prepare adjusting entries Prepare closing entries
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Sheet1 (2) Page 3 UPTOWN PLUMBING ADJUSTED TRIAL BALANCE Adjusting entries AS OF DEC 31, 1996 Debit Credit 1 The current supplies inventory is 1,400 CASH 45,000 2 The insurance was purchased on 11/1 for 9months ACCOUNTS REC. 5,300
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This note was uploaded on 03/29/2011 for the course ACCT 102B taught by Professor Solomondarwin during the Spring '11 term at University of California, Berkeley.

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Acct_Cycle_Problem - Sheet1 UPTOWN PLUMBING UNADJUSTED...

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