Homework Answers
| Collision Bodywork and Repairs | ||||||
| Worksheet | ||||||
| For the Year Ended December 31, 20-- | ||||||
| Accounts | Trial Balance | Income Statement | Balance Sheet | |||
| Debit | Credit | Debit | Credit | Debit | Credit | |
| Bank | 723.50 | 723.50 | ||||
| Accounts receivable | 23356.05 | 23356.05 | ||||
| Supplies | 1420.00 | 1420.00 | ||||
| Land | 54000.00 | 54000.00 | ||||
| Building | 102500.00 | 102500.00 | ||||
| Automobiles | 35256.20 | 35256.20 | ||||
| Equipment | 25750.00 | 25750.00 | ||||
| Bank Loan | 30000.00 | 30000.00 | ||||
| Accounts payable | 5365.25 | 5365.25 | ||||
| GST payable | 1175.58 | 1175.58 | ||||
| GST recoverable | 787.50 | 787.50 | ||||
| PST payable | 1340.00 | 1340.00 | ||||
| B. Hughes, capital | 287816.14 | 287816.14 | ||||
| B. Hughes, drawings | 48000.00 | 48000.00 | ||||
| Revenue - Bodywork | 135315.02 | 135315.02 | ||||
| Revenue - Repairs | 66214.98 | 66214.98 | ||||
| Advertising expense | 850.00 | 850.00 | ||||
| Automobile expense | 4569.33 | 4569.33 | ||||
| Bank charges expense | 3485.00 | 3485.00 | ||||
| General expense | 1258.90 | 1258.90 | ||||
| Light and heat expense | 2585.00 | 2585.00 | ||||
| Materials expense | 36750.25 | 36750.25 | ||||
| Telephone expense | 1585.00 | 1585.00 | ||||
| Wages expense | 184350.24 | 184350.24 | ||||
| Totals | 527226.97 | 527226.97 | 235433.72 | 201530.00 | 291793.25 | 325696.97 |
| Net Loss | 33903.72 | 33903.72 | ||||
| Totals | 235433.72 | 235433.72 | 325696.97 | 325696.97 | ||
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3. The trial balance for Collision Bodywork and Repairs for the year ended December 31, 20—,...
The adjusted trial balance of Karise Repairs on December 31, 2013, follows. KARISE REPAIRS Adjusted Trial...
The adjusted trial balance of Karise Repairs on December 31, 2013, follows. KARISE REPAIRS Adjusted Trial Balance December 31, 2013 No. Account Title Debit Credit $ 14,000 1,300 2,050 50,000 $ 5,000 14,000 600 33,000 101 124 128 167 168 201 210 301 302 401 612 623 637 640 650 690 Cash ..................... Office supplies............... Prepaid insurance ............ Equipment ............. .. Accumulated depreciation-Equipment ........ Accounts payable ......... Wages payable ....... C. Karise, Capital ................ C. Karise, Withdrawals ............. Repair fees...
The adjusted trial balance of Karise Repairs on December 31 follows. No. Credit Debit $ 97,000...
The adjusted trial balance of Karise Repairs on December 31 follows. No. Credit Debit $ 97,000 1,900 3,000 53,000 $ KARISE REPAIRS Adjusted Trial Balance December 31 Account Title 101 Cash 124 Office supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 210 Wages payable 301 C. Karise, Capital 302 C. Karise, withdrawals 401 Repair fees earned 612 Depreciation expense-Equipment 623 Wages expense 637 Insurance expense 640 Rent expense 650 Office supplies expense 690 Utilities expense Totals...
The trial balance for December 31 pocal UncОЛ К. The trial balance for December 31, 20--...
The trial balance for December 31
pocal UncОЛ К. The trial balance for December 31, 20-- has been entered below on the partial work sheet for Camping Supply Center Required: 1. Complete the Adjustments columns using the following year-end adjustments information. Identify each adjustment with its corresponding letter. a./b. Based on a physical count, it was determined that merchandise inventory costing $21,700 is on hand as of December 31, 20-- c. Supplies remaining at the end of the year, $6,300....
The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company....
The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Credit Debit $ 7,300 17,500 3,900 179,000 $ 41,000 82,200 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings, December 31, 2017 Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense–Trucks Totals 12,300 3,700 61,000 20,600 151,000 19,000 131,000 22,600 68,000 8,200 12,900 $420,600 $420,600 Use the...
The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company....
The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Account Title Debit Credit Cash $ 9,400 Accounts receivable 18,100 Office supplies 2,300 Trucks 175,000 Accumulated depreciation—Trucks $ 34,000 Land 68,000 Accounts payable 12,900 Interest payable 3,400 Long-term notes payable 43,000 Common stock 21,200 Retained earnings, December 31, 2017 159,000 Dividends 20,100 Trucking fees earned 131,000 Depreciation expense—Trucks 23,400 Salaries expense 69,000 Office supplies expense 8,100 Repairs expense—Trucks 11,100 Totals $ 404,500 $ 404,500...
The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company.
The following is the adjusted year-end trial balance at December
31, 2018, of Wilson Trucking Company.Account TitleDebitCreditCash$8,000Accounts receivable17,500Office supplies3,000Trucks172,000Accumulated depreciation—Trucks$36,000Land85,000Accounts payable12,000Interest payable4,000Long-term notes payable53,000Common stock20,000Retained earnings, December 31, 2017155,000Dividends20,000Trucking fees earned130,000Depreciation expense—Trucks23,500Salaries expense61,000Office supplies expense8,000Repairs expense—Trucks12,000Totals$410,000$410,000Prepare its balance sheet as of December 31, 2018.
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 9,800 Accounts receivable 16,500 Office supplies 2,000 Trucks 195,000 Accumulated depreciation—Trucks $ 40,170 Land 75,000 Accounts payable 13,800 Interest payable 3,000 Long-term notes payable 52,000 Common stock 38,828 Retained earnings 140,000 Dividends 19,000 Trucking revenue 142,500 Depreciation expense—Trucks 25,910 Salaries expense 66,833 Office supplies expense 8,000 Repairs expense—Trucks 12,255 Totals $ 430,298 $ 430,298 Use the above-adjusted trial balance to prepare...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit...
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 9,000 Accounts receivable 16,500 Office supplies 2,000 Trucks 189,000 Accumulated depreciation—Trucks $ 38,934 Land 75,000 Accounts payable 13,000 Interest payable 3,000 Long-term notes payable 52,000 Common stock 35,880 Retained earnings 137,500 Dividends 19,000 Trucking fees earned 135,500 Depreciation expense—Trucks 25,112 Salaries expense 63,549 Office supplies expense 5,000 Repairs expense—Trucks 11,653 Totals $ 415,814 $ 415,814 The Retained Earnings account balance...
P Tong and Company ACCOUNTS WORK SHEET Year Ended December 31, 20-4 ADJUSTMENTS INCOME STATEMENT BALANCE...
P Tong and Company ACCOUNTS WORK SHEET Year Ended December 31, 20-4 ADJUSTMENTS INCOME STATEMENT BALANCE SHEET DEBIT | CREDIT | DEBIT CREDIT | DEBIT | CREDIT de Parer Exercise 1, p. 320 Bank Accounts Receivable Supplies Prepaid Insurance Equipment Automobile Accounts Payable P Tong, Capital P Tong, Drawings Fees Earned Car Expense General Expense Miscellaneous Expense Rent Expense Wages Expense TRIAL BALANCE DEBIT CREDIT 1800 19500 ooo 0750 22 0 0 0 - 21 000 - 4360 540 40...
For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit...
For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 Equipment 19,000 19,000 Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 10,000 Wages Payable 2,000 2,000 Common Stock 5,000 5,000 Retained Earnings 8,004 8,004 Dividends 1,000 1,000 Fees Earned 44,669 44,669 Wages Expense 21,425 21,425 Rent Expense 6,067 6,067 Depreciation Expense 4,181 4,181 Totals 75,673 75,673 31,673 44,669 44,000 31,004...
The adjusted trial balance of Karise Repairs on December 31, 2013, follows. KARISE REPAIRS Adjusted Trial Balance December 31, 2013 No. Account Title Debit Credit $ 14,000 1,300 2,050 50,000 $ 5,000 14,000 600 33,000 101 124 128 167 168 201 210 301 302 401 612 623 637 640 650 690 Cash ..................... Office supplies............... Prepaid insurance ............ Equipment ............. .. Accumulated depreciation-Equipment ........ Accounts payable ......... Wages payable ....... C. Karise, Capital ................ C. Karise, Withdrawals ............. Repair fees...
The adjusted trial balance of Karise Repairs on December 31 follows. No. Credit Debit $ 97,000 1,900 3,000 53,000 $ KARISE REPAIRS Adjusted Trial Balance December 31 Account Title 101 Cash 124 Office supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 210 Wages payable 301 C. Karise, Capital 302 C. Karise, withdrawals 401 Repair fees earned 612 Depreciation expense-Equipment 623 Wages expense 637 Insurance expense 640 Rent expense 650 Office supplies expense 690 Utilities expense Totals...
The trial balance for December 31
pocal UncОЛ К. The trial balance for December 31, 20-- has been entered below on the partial work sheet for Camping Supply Center Required: 1. Complete the Adjustments columns using the following year-end adjustments information. Identify each adjustment with its corresponding letter. a./b. Based on a physical count, it was determined that merchandise inventory costing $21,700 is on hand as of December 31, 20-- c. Supplies remaining at the end of the year, $6,300....
The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Credit Debit $ 7,300 17,500 3,900 179,000 $ 41,000 82,200 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings, December 31, 2017 Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense–Trucks Totals 12,300 3,700 61,000 20,600 151,000 19,000 131,000 22,600 68,000 8,200 12,900 $420,600 $420,600 Use the...
The following is the adjusted year-end trial balance at December
31, 2018, of Wilson Trucking Company.Account TitleDebitCreditCash$8,000Accounts receivable17,500Office supplies3,000Trucks172,000Accumulated depreciation—Trucks$36,000Land85,000Accounts payable12,000Interest payable4,000Long-term notes payable53,000Common stock20,000Retained earnings, December 31, 2017155,000Dividends20,000Trucking fees earned130,000Depreciation expense—Trucks23,500Salaries expense61,000Office supplies expense8,000Repairs expense—Trucks12,000Totals$410,000$410,000Prepare its balance sheet as of December 31, 2018.
P Tong and Company ACCOUNTS WORK SHEET Year Ended December 31, 20-4 ADJUSTMENTS INCOME STATEMENT BALANCE SHEET DEBIT | CREDIT | DEBIT CREDIT | DEBIT | CREDIT de Parer Exercise 1, p. 320 Bank Accounts Receivable Supplies Prepaid Insurance Equipment Automobile Accounts Payable P Tong, Capital P Tong, Drawings Fees Earned Car Expense General Expense Miscellaneous Expense Rent Expense Wages Expense TRIAL BALANCE DEBIT CREDIT 1800 19500 ooo 0750 22 0 0 0 - 21 000 - 4360 540 40...
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