Question

Sendem Packing Worksheet September 30, 2020 Account Titles Unadj. Trial Balance Adjustments Adj. Trial Balance Income Statement Balance Sheet Cash 33,000 Accts. Receivable 9,000 Prepaid Insurance 2,400 PPE - Equipment 16,000 Acc. Deprec-Equipment Accts. Payable 25,000 Unearned revenue 4,000 Bank Loan 3,000 Capital Account 19,000 Service Revenue 24,000 Depreciation Expense Insurance Expense Interest Expense 100 Rent Expense 1,000 Salaries Expense 6,500 Telephone Expense 300 Travel Expense 6,700 Total 75.000 75,000 0 0 0 0 0 Net Income Total Directions: enter the following adjustments at the end of the period and complete the worksheet using the shaded areas. Adjustments: A- One month of Prepaid Insurance has expired, $200 B - Depreciation of PPE-Equipment = $300 C - Unearned Revenue that has now been earned = $1,000. D-Travel expenses owed to salesman at end of period, $ 1.000. 50 points 0 0

Answer 1

Sendem Packing Worksheet September 30, 2020 Adjustments Income Statement Unadj. Trial balance 33000 9000 Adj. Trial Balance 33000 9000 Balance sheet 33000 9000 2400 200 2200 2200 16000 16000 16000 300 300 3001 1000 25000 4000 26000 3000 1000 26000 3000 3000 3000 Account titles Cash Accounts receivable Prepaid Insurance PPE-equipment Acc. Dep Equipment Accts Payable Unearned Revenue Bank loan Capital Account Service Revenue Depreciation Expense Insurance Expense Interest expense Rent Expense Salaries Expense Telephone Expense Travel Expense 3000 19000 24000 19000 19000 1000 25000 25000 300 300 300 200 200 200 100 100 100 1000 6500 300 1000 6500 300 7700 76300 6700 1000 2500 1000 6500 300 7700 16100 8900 25000 Total 75000 75000 2500 76300 25000 60200 Net Income Total 51300 8900 60200 25000 60200