Prof. Theresa F. Henry
Intermediate Accounting I
Exam I Review
February 4, 2008
The following unadjusted trial balance was taken from the books of Deccie’s Train Store, Inc.
on December 31, 2006.
Allowance for Doubtful Accounts
Furniture and Equipment
Cost of Goods Sold
Additional information as of 12/31/06 is as follows:
A four year $4,800 insurance policy was purchased on July 1.
Deccie had sales of $3,200 during the last week of December for which he has not received
cash payment from customers.
He has not yet recorded these sales.
Interest at 8% is receivable on the note for one full year.
Salaries owed to employees at December 31, $7,800.
A customer paid $2,000 in advance for services to be performed in December 2006 and