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College Accounting, Chapters 1-27 22nd Edition

College Accounting, Chapters 1-27 (22nd Edition)

Book Edition22nd Edition
Author(s)Heintz, Parry
End of Chapter
Self-Study Demonstration Problem
Self-Study Self-Study Test Questions True/False
Self-Study Self-Study Test Questions Multiple Choice
Self-Study Self-Study Test Questions Checkpoint Exercises
Applying Your Knowledge - Managing Your Writing
Applying Your Knowledge Ethics Case
Mastery Problem
Challenge Problem
Appendix Series A Exercises
Appendix Series B Exercises
Chapter 14, End of Chapter, Self-Study Demonstration Problem, Exercise 1
Page 541

Aaron Patton owns and operates Patton's Bait Shop and Boat Rental. A year-end trial balance is shown 542.


Year-end adjustment data for Patton's Bait Shop and Boat Rental are as follows:

a. A physical count shows that merchandise inventory costing $15,000 is on hand as of December 31, 20--.

b. Supplies remaining at the end of the year, $200.

c. Unexpired insurance on December 31, $300.

d. Depreciation expense on the building for 20--, $2,000.

e. Depreciation expense on the store equipment for 20--, $1,500.

f. Wages earned but not paid as of December 31, $225.

g. Unearned boat rental revenue as of December 31, $1,000.

1. Prepare a year-end work sheet.

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Page 541