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Axia College Material Appendix E Preparing a Financial Statement Worksheet Complete the 10-column worksheet for Briscoe Company. Your totals will be...

This question was answered on Apr 21, 2010. View the Answer
Instructions:
Enter the trial balance on a worksheet and complete the worksheet.

BRISCOE COMPANY
Worksheet
For the Month Ended June 30, 2008
Trial Balance
Account Titles Dr. Cr.
Cash $2,320
Accounts Receivable 2,440
Supplies 1,880
Accounts Payable $1,120
Unearned Revenue 240
Common Stock 3,600
Service Revenue 2,400
Salaries Expense 560
Miscellaneous Expense 160
$7,360 $7,360
Other data:
1. A physical count reveals $300 of supplies on hand.
2. $100 of the unearned revenue is still unearned at month-end.
3. Accrued salaries are $280.
Axia College Material Appendix E Preparing a Financial Statement Worksheet BRISCOE COMPANY Work Sheet For the Month Ended June 30, 2008 Balance Sheet Unadjusted Adjusted Income & Statement Trial Balance Adjustments Trial Balance Statement of Owner's Equity Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 2,320 Accounts Receivable 2,440 1,880 Supplies 1,880 Accounts Payable 1,120 Unearned Revenue 240 240 Common Stock 3,600 Service Revenue 2,400 2,400 Salaries Expense 560 560 Misc. Expense 160 Totals 7,360 7,360 Supplies Expense Salaries Payable Totals 7,360 7,360 Net Loss Totals Check Correct! Correct! Complete the 10-column worksheet for Briscoe Company. Your totals will be verified in row 32. When completing the sheet, think first about whether the account is an Income Statement account or Balance Sheet account; then apply what we learned in earlier weeks about the account's "normal" balance, and whether a debit or credit increases or decreases the account. Row 32 will not work if the totals rows are blank.
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CH220410_477182_ACC_22nd april[1].2010.xlsx

Axia College Material
Appendix E
Preparing a Financial Statement Worksheet
Complete the 10-column worksheet for Briscoe Company. Your totals will be verified in row 32. When completing the sheet,...

This question was asked on Apr 21, 2010 and answered on Apr 21, 2010.

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