Rich Pugh Unit 7 P6-3 - P6-3Name:1 Enter the appropriate...

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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 9/1/10) 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 (due 1/1/2015) 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 19,750 1,250 21,000 Administrative expenses 8,170 450 10,200 203,980 203,980 480 1,100 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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This note was uploaded on 06/26/2011 for the course ACCOUNTING AC300 taught by Professor Jean during the Spring '08 term at Kaplan University.

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Rich Pugh Unit 7 P6-3 - P6-3Name:1 Enter the appropriate...

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