AC300-03_Unit 7_Assignment_06-3P_Marjorie Bowden

AC300-03_Unit 7_Assignment_06-3P_Marjorie Bowden -...

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Unformatted text preview: P6-3Name:1. Enter the appropriate amounts in the shaded cells.An asterisk (*) will appear next to an incorrect amount in the outlined cells.SCHULTZ COMPANYWorksheetFor Year 6 Months Ended June 30, 2010Trial BalanceAdjustmentsIncome StatementAccount TitlesDebitCreditDebitCreditDebitCreditCash 7,200 Accounts Receivable (net) 10,300 450 Note receivable (due 9/1/2010) 4,000 Inventory 24,400 Prepaid Insurance 960 480 Property and Equipment 80,000 Accumulated depreciation 20,000 2,350 Accounts Payable 8,000 Dividends Payable 3,200 Unearned rent 1,800 750Bonds payable,10%(due 1/1/15) 12,000 Discount on bonds payable 60060 Common stock, $1 par 8,000 Premium on common stock 34,580 Retained Earnings 26,400 Sales (net) 90,000 90,000 Cost of Goods sold 48,600 48,600 Selling Expenses *19,700 *22,580 Administrative Expenses 8,170 450 *8,620 203,980 203,980 480 *2,350 Interest receivable 160 Interest revenue 160 160 Rent revenue 750 750 Interest expense 660 660 Interest payable 600 4,850 4,850 80,460...
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AC300-03_Unit 7_Assignment_06-3P_Marjorie Bowden -...

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