Comprehensive_review_problem_sol

Comprehensive_review_problem_sol - Lake Placid Building...

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e55211abaf710a14d8c503f4013b2eecef15db00.xls Trial balance Lake Placid Building Materials Inc. Trial Balance Unadjusted Balance Journal Entries Adjusted Balance December 31, 2006 Debit Credit Debit Credit Debit Credit Cash 6,430 6,430 Accounts receivable 19,090 19,090 Inventory 65,400 1,680 63,720 Supplies 2,700 1,500 1,200 Building 188,170 188,170 Accumulated Amortization, Building 36,000 4,000 40,000 Fixtures 45,600 45,600 Accumulated Amortization, Fixtures 5,800 4,800 10,600 Accounts payable 28,300 28,300 Salary payable 1,150 1,150 Interest payable 780 780 Unearned revenue 6,560 5,360 1,200 Note payable, long-term 87,000 87,000 Common shares 20,000 20,000 Retained earnings 124,980 124,980 Dividends 9,200 9,200 Sales revenue 177,970 5,360 183,330 Sales discounts 7,300 7,300 Sales returns and allowances 8,140 8,140 Cost of good sold 103,000 1,680 104,680 Selling expense 21,520 750 24,470 selling (continued) 2,200 General expense 10,060 750 18,560 general (continued) 6,600 general (continued) 1,150 Interest expense 780 780 Total $486,610 $486,610 $19,270 $19,270 $497,340 $497,340
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This note was uploaded on 06/08/2011 for the course ECON 1006 taught by Professor Pow during the Fall '11 term at CUNY Baruch.

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Comprehensive_review_problem_sol - Lake Placid Building...

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