Question

Comprehensive Accounting Cycle Review 9-1 (Part Level Submission) Milo Corporation's unadjusted trial balance at December 1, 2017, is presented below. Credit Debit $22,000 36,800 10,000 36,200 3,600 20,000 150,000 60,000 9,000 $500 50,000 24,000 27,300 11,000 Cash Accounts Receivable Notes Receivable Interest Receivable Inventory Prepaid Insurance Land Buildings Equipment Patent Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Notes Payable (due April 30, 2018) Income Taxes Payable Interest Payable Notes Payable (due in 2023) Common Stock Retained Earnings Dividends Sales Revenue Interest Revenue Gain on Disposal of Plant Assets Bad Debt Expense Cost of Goods Sold Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Other Operating Expenses Amortization Expense Salaries and Wages Expense Total 35,000 50,000 63,600 12,000 900,000 630,000 61,800 110,000 $1,161,400 $1,161,400

Answer 1

cr. 2017 Dec.2. 16800 Guipment 16800 Dec. 2 8a5 825 Dec.2. 825. 825 Dec.2, Accumulateel Depreciation Ettepnsent Best Depreciation Eapenie Accumulated Depreciation g Cash Accumulated Depreciation Grain on sale af asset Equipment Accounts Recevable Sales Revenue 3500 2625 1125, 5000 Der. 15 5000 5000 Dec 15 COGS 3 500 muentery 3500 Der. 23 Salaries & wages Sapi 6600 Cash 6600 Der.31 4000 3500 4000 350 Bad delets Eap. Allowances for desktfullelt Interest Recerisalele interest quence T 10000m 2 600 600

- 2017 - Dec 31 3 2400 2400 Insurance Capene Prepaid onsurance [ 3600x4 = 2400] 4000 Der. 3D 4000 5 Depreciation Exp. Accumulated Depreciation Depreciation Exp Accumulated Depreciation 160000-6000)x108007 10800 10800 Dep. Exp. Accumulated Dop. -Equipped 76800-1800 x = 83.33 83 1 000 Amortization Exp. Patients 1000 Correct in the Question 9 - Consert Correct Jo - we