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Chap 4

accounting chp 4

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Rifat Alam/MF/BRAC
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7 views14 pages

Chap 4

accounting chp 4

Uploaded by

Rifat Alam/MF/BRAC
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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For th

Trial Balance
Accounts title Dr
Cash 11400
Accounts Receivable 5620
Supplies 1050
Prpaid Insurance 2400
Equipment 30000
Notes Payable
Accounts payable
T. Magnum. Capital
T. Magnum. Drawing 600
Service revenue
Salaries expense 2200
Travel expense 1300
Rent expense 1200
Miscellaneous expense 200
Total 55970
Supplies expense
Depreciation expense
Accumulated dep
Interest expense
Interest payable
Insurance expense
Thomas Magnum. P I
Work Sheet
For the quarter ended March 31, 2010
Balance Adjustment Adjusted Trial Bal Income StatementBalance sheet
Cr Dr Cr Dr Cr Dr Cr Dr Cr
11400 11400
530 6150 6150
(a) 670 380 380
600 1800 1800
30000 30000
10000 10000 10000
12350 12350 12350
20000 20000 20000
600 600
13620 530 14150 14150
2200 2200
1300 1300
1200 1200
200 200
55970
(a) 670 670 670
(b) 1000 1000 1000
(b) 1000 1000 1000
300 300 300
300 300 300
600 600 600
Total
Net income
Total
1430 1430 57800 57800 7470 14150 50330 43650
6680 6680
14150 14150 50330 50330
Owner's Equity Statment
O Tybalt Capital at january 1, 2019 121400
Add: Additional investment 5000
Net profit 4300 9300
130700
Less: Drawings 13000
O tylat Capital at Dec 31, 2019 117700

Classified Balance sheet


As on December 31, 2019
Assets
Current Assets:
Cash 5000
Short term Investments 23000
Supplies 8100
4300 Prepaid insurance 7000
Total current assets 43100
Property plant and Equipement
Equipment 40000
Less: Accumulated dep-Equip 20000 20000
Building 150000
Less: Accumulated dep-Build 50000 100000
Land 55000
Total property plant and equip 175000
Total Assets 218100
Liabilities and owner' equity
Liabilities:
Current liabilities:
A/P 16500
Wages payable 2500
property tax payable 900
Rent payable 3500
interest payable 2500
unearned professional revenue 7500
Current portion of N/P 7000
Total curent liability 40400
Non-current liability
Long term notes payable 60000
Total liabilities 100400
Owner's Equity
O tylat Capital at Dec 31, 2019 117,700
Total liabilies and owner's equity 218,100

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