ACC 225 Week 4 Assignment - Problem 4-5B (90 minutes) Part...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Problem 4-5B (90 minutes) Part 1 4-62 CRUSH DEMOLITION COMPANY Unadju Adjust Incom Balance Sheet and Statement of Owners Equity No. Accou Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 10 Cash................................ 9,000 9,000 9,000 12 Supplies........................... 18,000 (a) 9,900 8,100 8,100 12 Prepaid insurance............. 14,600 (b) 11,500 3,100 3,100 16 Equipment.......................140,000 140,000 140,000 16 Accumulated depreciation 10,000 (c) 18,000 28,000 28,000 20 Accounts payable............. 16,000 (d) 700 16,700 16,700 20 Interest payable................. (h) 200 200 200 20 Rent payable..................... (f) 5,360 5,360 5,360 21 Wages payable................. (e) 2,200 2,200 2,200 21 Property taxes payable....... (g) 450 450 450 25 Long-term notes payable.... 20,000 20,000 20,000 30 J. Bonair, Capital................ 66,900 66,900 66,900 30 J. Bonair, Withdrawals........ 24,000 24,000 24,000 40 Demolition fees earned....... 177,000 177,000 177,000 61 Depreciation expense (c) 18,000 18,000 18,000 62 Wages expense................ 51,400 (e) 2,200 53,600 53,600 63 Interest expense................ 2,200 (h) 200 2,400 2,400 63 Insurance expense............ (b) 11,500 11,500 11,500 64 Rent expense.................... 8,800 (f) 5,360 14,160 14,160 65 Supplies expense.............. (a) 9,900 9,900 9,900 68 Property taxes expense...... 8,400 (g) 450 8,850 8,850 68 Repairs expense............... 6,700 6,700 6,700 69 Utilities expense................ 6,800 ______ (d) 700 ______ 7,500 ______ 7,500 ______ ______ ______ Totals...............................289,900 289,900 48,310 48,310 316,810 316,810 132,610 177,000 184,200 139,810 Net Income....................... 44,390 ______ ______ 44,390 Totals............................... 177,000 177,000 184,200 184,200 4-62 Problem 4-5B (Continued) Part 2 Adjusting entries (all on April 30, 2011): (a) Supplies Expense............................................ 9,900 Supplies.................................................... 9,900 To record consumption of supplies. (b) Insurance Expense.......................................... 11,500 Prepaid Insurance.................................... 11,500 To record expiration of insurance. (c) Depreciation Expense, Equipment................. 18,000 Accumulated Depreciation, Equipment.. 18,000 To record depreciation. (d) Utilities Expense.............................................. 700 Accounts Payable.................................... 700 To record accrued utilities costs. (e) Wages Expense............................................... 2,200 Wages Payable......................................... 2,200 To record accrued wages....
View Full Document

Page1 / 10

ACC 225 Week 4 Assignment - Problem 4-5B (90 minutes) Part...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online