Terri Chichester_Unit7_Project

Terri Chichester_Unit7_Project - P6-3Name:Terri...

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Unformatted text preview: P6-3Name:Terri Chichester1. 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, 2010Retained EarningsTrial BalanceAdjustmentsIncome StatementStatement Balance SheetAccount TitlesDebitCreditDebitCreditDebitCreditDebitCreditDebitCreditCash 7,200 7,200 Accounts receivable 10,300 450 9,850 Note Receivable ( due 9/1/10) 4,000 4,000 Inventory 24,400 24,400 Prepaid insurance 960 480 480 Property and equipment 80,000 80,000 Accumulated depreciation 20,000 2,350 22,350 Accounts payable 8,000 8,000 Dividends payable 3,200 3,200 Unearned rent 1,800 7501,050 Bonds payable,10% (due 1/1/2015) 12,000 12,000 Discount on bonds payable 60060 540 Common stock, $1 par 8,000 8,000 Premium on common stock 34,580 34,580 Retained earnings 26,400 26,400 Sales 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 *9,270...
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This note was uploaded on 11/14/2011 for the course AC300 300 taught by Professor Day during the Winter '10 term at Kaplan University.

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