Question

Check my 1 The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. 10 points PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Dr. Cr. Cr. Dr. Cr. Book $ Dr. 7000 27.200 42.000 References $ 17,500 32.000 No. Account Title 101 Cash 106 Accounts receivable 153 Trucks 154 Accumulated depreciation-Trucks 103 Land 201 Accounts payable 209 Salaries payable 233 Unearned fees 301 F Planta, Capital 302 F. Planta, Withdrawals 401 Plumbing fees earned 611 Depreciation expense Trucks 622 Salaries expense 640 Rent expense 677 Miscellaneous expenses Totals Net income Totals 15,000 4,200 3.600 65.500 15.400 84,000 6.500 38.000 13,000 0.700 $ 180,000 $100.000

Answer 1

			Planta Company
			Work Sheet
		Adjusted Trial				Balance Sheet and statement of
		Balance		Income Statement		Owner Equity
No	Account Title	Dr	Cr	Dr	Cr	Dr	Cr
101	Cash	$         7,000.00				$         7,000.00
106	Accounts receivable	$       27,200.00				$       27,200.00
153	Trucks	$       42,000.00				$       42,000.00
154	Accumulated depreciation-truck		$       17,500.00				$          17,500.00	Accumulated Depreciation should be subtrated from truck, it means we can show it as -17500 in debit side
183	Land	$       32,000.00				$       32,000.00
201	Accounts payable		$       15,000.00				$          15,000.00
209	Salaries payable		$         4,200.00				$            4,200.00
233	Unearned fees		$         3,600.00				$            3,600.00
301	F. Planta Capital		$       65,500.00				$          65,500.00
302	F. Planta Withdrawals	$       15,400.00				$       15,400.00		We can also show it as -15400 in credit side
401	Plumbing fees earned		$       84,000.00		$       84,000.00
611	Depreciation expenses- Trucks	$         6,500.00		$         6,500.00
622	Salaries expenses	$       38,000.00		$       38,000.00
640	Rent expenses	$       13,000.00		$       13,000.00
677	Miscellaneous expenses	$         8,700.00		$         8,700.00
	Total	$    189,800.00	$    189,800.00	$       66,200.00	$       84,000.00
	Net Income			$       17,800.00			$          17,800.00
	Totals			$       84,000.00	$       84,000.00	$    123,600.00	$       123,600.00