I-04.02 Problem

I-04.02 Problem - - 89,119- 89,119 Dividends 40,000...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
I-04.02 Examine the following trial balances, before and after adjustment: CHESTERFIELD CORPORATION Trial Balance and Adjusted Trial Balance December 31, 20X9 Trial Balance Adjusted Trial Balance Debits Credits Debits Credits Cash 166,890 $ $ - 166,890 $ $ - Accounts Receivable 87,654 - 107,654 - Supplies 8,992 - 4,500 - Prepaid Rent 6,000 2,000 - Equipment 145,700 - 145,700 - Accumulated Depreciation - 37,660 - 44,660 Accounts Payable - 13,590 - 13,590 Wages Payable - - - 4,500 Interest Payable - 1,500 Unearned Revenue - 18,000 - 12,000 Notes Payable - 50,000 - 50,000 Capital Stock - 225,000 - 225,000 Retained Earnings, Jan. 1
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: - 89,119- 89,119 Dividends 40,000 -40,000-Revenues- 334,490- 360,490 Wages Expense 276,123-280,623-Rent Expense 33,000-37,000-Depreciation Expense--7,000-Supplies Expense--4,492-Interest Expense 3,500-5,000-767,859 $ 767,859 $ 800,859 $ 800,859 $ (a) Determine and record the apparent adjusting entries in journal entry format. (b) Prepare an income statement for the year ending December 31, 20X9. (c) Prepare a statement of retained earnings for the year ending December 31, 20X9. (d) Prepare a classified balance sheet as of December 31, 20X9....
View Full Document

This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.

Ask a homework question - tutors are online