UCB UGBA102A Topic03 Slides Appendix

UCB UGBA102A Topic03 Slides Appendix - Accounting System:...

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Accounting System: Accrual Accounting UGBA102A Introduction to Financial Accounting Appendix
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UGBA102A Dennis Geyer 2 Review Problem 3 Accounts Dr. Cr. Dr. Cr. Dr. Cr. Cash 9,500 $ Accounts Receivable 5,400 $ Prepaid Rent 2,200 $ Office Supplies 800 $ Prepaid Insurance 3,300 $ Delivery Vehicles 15,000 $ Acc. Depreciation-Del. Vehicles 6,000 $ Accounts Payable 5,400 $ Wages Payable Income Taxes Payable Unearned Delivery Fees 550 $ Common Stock 12,000 $ Retained Earnings 3,000 $ Dividends 1,400 $ Delivery Fees 16,500 $ Wages Expense 4,000 $ Fuel Expense 1,400 $ Telephone Expense 450 $ Insurance Expense Office Supplies Expense Depreciation Expense Income Tax Expense Totals 43,450 $ 43,450 $ Trial Balance Adjustments Adj. Trial Balance Callahan Delivery Service had the following trial balance on Dec 31, 2007:
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UGBA102A Dennis Geyer 3 Review Problem 3 The following information is also available: 1. Insurance that expired in December totaled $600. 2. Office supplies on hand on December 31 totaled $400. 3. Depreciation for the month was $500. 4. Accrued wages at the end of December were $670. 5. Revenues earned in December for services performed that had been paid in advance totaled $300. 6. Income taxes for December were estimated to be $220. Required: Prepare an adjusted trial balance for December 31, 2007.
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UGBA102A Dennis Geyer 4 Review Problem 3 Accounts Dr. Cr. Dr. Cr. Dr. Cr. Cash 9,500 $ 9,500 $ Accounts Receivable 5,400 $ 5,400 $ Prepaid Rent 2,200 $ 2,200 $ Office Supplies 800 $ 400 $ 400 $ Prepaid Insurance 3,300 $ 600 $ 2,700 $ Delivery Vehicles 15,000 $ 15,000 $ Acc. Depreciation-Del. Vehicles 6,000 $ 500 $ 6,500 $ Accounts Payable 5,400 $ 5,400 $ Wages Payable 670 $ 670 $ Income Taxes Payable 220 $ 220 $
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UCB UGBA102A Topic03 Slides Appendix - Accounting System:...

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