Test_I_Part_2 - 7,000 Jack Simpson, Capital 51,737 51,737...

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Jack Simpsonn, CPA Worksheet 31-Dec-10 Information to consider The unearned fees are for an audit, 1/2 of work was completed at year end Simpson had an unbilled audit job, $3,000 of work completed at year end Equipment Depreciation for period $1,230 Building Depreciation for period $2,750 Office supplies on hand $1,100 Simpson discovered a new computer he paid $1,100 for was debited to Office Supplies instead of Equipme Salaries owed at year end $1,144 INSTRUCTIONS: Based on the information provided, complete the worksheet Adjusted Trial Adjustments Balance Account Dr CR Dr Cr Dr Cr Cash 11,900 1,100 10,800 Accounts Receivable 12,330 12,330 Office Supplies 4,230 4,230 Building 55,000 55,000 Accumulated Depr-Building 3,160 2,750 5,910 Equipment 17,600 17,600 Accumulated Depr- Equipment 5,160 1,230 6,390 Accounts Payable 4,413 4,413 Unearned Fees 4,000 3,000
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Unformatted text preview: 7,000 Jack Simpson, Capital 51,737 51,737 Jack Simpson, Draw 24,000 24,000 Fees Earned 87,000 87,000 Salaries 18,000 1,144 19,144 Equipment Lease 1,800 1,800 Utilities Expense 4,170 4,170 Advertising 2,166 2,166 Travel Expense 1,344 1,344 Office Supplies Expense 2,930 1,100 4,030 Unbilled Audit Job 3,000 3,000 Depreciation expense-equipment 1,230 1,230 Depreciation expense-Building 2,750 2,750 Salaries payable 1,144 1,144 Totals 155,470 155,470 9,224 9,224 163,594 163,594 Net income Totals ent Income Balance Statement Sheet Dr Cr Dr Cr 10,800 12,330 4,230 55,000 5,910 17,600 6,390 4,413 7,000 51,737 24,000 87,000 19,144 1,800 4,170 2,166 1,344 4,030 3,000 1,230 2,750 1,144 39,634 87,000 0 123,960 76,594 47,366 47,366 87,000 87,000 123,960 123,960...
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This note was uploaded on 04/14/2011 for the course ACCT 3202 taught by Professor Kenmichael during the Spring '11 term at University of Minnesota Duluth.

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Test_I_Part_2 - 7,000 Jack Simpson, Capital 51,737 51,737...

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