Question

31 The vehicle was purchased on March 23, 2012 toost of 000 Only por 9 months. b. The land was purchased on Aprt 1, 2012 Russeexpects te company to own the property for 20 years c An inventory count indicated $61,000 of inventory at December 31, 2012 an agreement with BCIT to upply them with audio visual equipment. The contract is worth $200,000 and the equipment will be 2013 Ouring December 2012 Star Eectronica supplied in April o sso o0o cheue recorded the receipt of a e. The $3,000 annual insurance policy was paid a and commenced coverage on May 1,2012 f On June 1, 2012 Star Electronics lent a long-ime employee $15.000 The employee signed a promissory note agreeing to repay the amount on interest of $1,500 is to be received every May 31 January 1, 2014. The annual g. A letter from the landlord indicated that the $3,000 rent for December 2012 was tl equired: 1) Complete the attached worksheet To save time, the adjusted trial balance columns have been omitted. Do not add the adjusted trial balance columns as the problem ca be completed without this information. You do not have to write out the journal entrie separately but you must reference each adjustment or correction on the attached worksheet (20 marks) 2018

Answer 1

Sta Electonics Date Dafe Year Ended Decembe 81,201ㄴ nome statemen Balance shee Su poold 4n,ooo 67,000 Cat 20,000 Aaoure Rcel vable 20,000 Aotes Eetvable IS.Doo $15,000 vebcte Gl,oo0 6soo Irve S0, 000 So,00o loo,000 fi00, ooo neurance Ér 위S, 000 IS, 0oo AcLo 100, boo fio0,00o Cank loan 6oDoo 60, 000 孓 Ruseu ru'se, Capita 7000 レ als Revenue 千3ai,b00 千3000 bld $162000 Cast 42,00o f 2ooo Frelght Ouk le | 5.000 4 20, 000 26,000 le $3000 (1) f36, coo 43 000 1n1レ (e) $1000 $. 2,000 s87stf) 7so 41 4,875 675o 6,75 ,000 Aso,000 () I00O I000 (e) $87s $875 (f 3000 le Rent f3000) 8S,37s et nuome $32,000 |432,000 Totals $33l, 0oo s33l,00o