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

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

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...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern