Homework Answers
Solution:
| Ramey Company | ||||||
| Worksheet | ||||||
| For Month Ended December 31, 20-- | ||||||
| Unadjusted Trial Balance | Adjustments | Adjusted Trial Balance | ||||
| Account title | Debit | Credit | Debit | Credit | Debit | Credit |
| Cash | $ 5,190 | $ - | $ 5,190 | $ - | ||
| Supplies | $ 430 | $ - | $ (350) | $ - | $ 80 | $ - |
| Prepaid Insurance | $ 1,200 | $ - | $ (460) | $ - | $ 740 | $ - |
| Equipment | $ 4,678 | $ - | $ 4,678 | $ - | ||
| Accumulated Depreciation-Equipment | $ - | $ 1,556 | $ 870 | $ - | $ 2,426 | |
| Accounts Payable | $ - | $ 1,875 | $ - | $ 1,875 | ||
| Wages Payable | $ - | $ - | $ 120 | $ - | $ 120 | |
| S. Ramey, Capital | $ - | $ 6,026 | $ - | $ 6,026 | ||
| S. Ramey, Withdrawal | $ 1,700 | $ - | $ 1,700 | $ - | ||
| Service Fees | $ - | $ 5,836 | $ - | $ 5,836 | ||
| Depreciation Expense-Equipment | $ - | $ - | $ 870 | $ 870 | $ - | |
| Rent Expense | $ 965 | $ - | $ 965 | $ - | ||
| Supplies Expense | $ 267 | $ - | $ 350 | $ 617 | $ - | |
| Wages expense | $ 765 | $ - | $ 120 | $ 885 | $ - | |
| Miscellaneous expense | $ 98 | $ - | $ 98 | $ - | ||
| Insurance Expense | $ - | $ - | $ 460 | $ 460 | $ - | |
| Total | $ 15,293 | $ 15,293 | $ 990 | $ 990 | $ 16,283 | $ 16,283 |
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