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P3-7 - Michael McCormick ACG 3103 P3-7 a Trial Balance Dr...

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Michael McCormick ACG 3103 P3-7 a. Trial Adjustments Adjusted Income Owners Balance Trial Balance Statement Equity Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. cash 7000 7000 a/r 19000 3000 22000 supplies 8500 3000 5500 prepaid insurance 3250 750 2500 printing equipment 60000 60000 accumulated depreciation 27000 6750 33750 a/p 5000 5000 interest payable 150 150 notes payable 5000 5000 unearned service revenue 7000 1400 5600 salaries payable 1500 1500 common stock 10000 10000 10000 retained earnings 4500 4500 4500 service revenue 58600 4400 63000 63000 salaries expense 10000 1500 11500 11500 insurance expense 750 750 750 interest expense 350 150 500 500 depreciation expense 6750 6750 6750 art supplies expense 5000 3000 8000 8000 rent expense 4000 4000 4000 117100 117100 16550 16550 128500 128500 31500 63000 net income to equity 31500 31500 63000 63000 equity to balance sheet 46000 Total 4600 46000
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Michael McCormick ACG 3103 a. a/r 3000 unearned service revenue 1400 service revenue 3000 service revenue 1400 supplies expense 3000 salaries expense 1500 supplies 3000 salaries payable 1500 insurance expense 750 prepaid insurance 750 depreciation expense 6750 accumulated depreciation 6750 c. 1 The salvage value is $6000 interest expense 150 2 The interest on the note is 12 interest payable 150 3 The balance in salaries paya
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Michael McCormick ACG 3103 P3-7 Ana Alicia Advertisiong Corp.
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