The adjusted trial balances of PDQ, Inc., at December 31,2010, and December 31, 2011, include these amounts:
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The adjusted trial balances of PDQ, Inc., at December 31,2010, and December 31, 2011, include these amounts:
Requirement 1. Compute the amount of supplies expense, salary expense, and service revenue PDQ, Inc., will report for the year ended December 31, 2011. Solve by making T-accounts and posting the information to solve for the unknown amounts.
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Supplies.......... Salary Payable...... Unearned Service Revenue 2010 2011 $ 2,800 $1,700 2,800 18,000 16,300 3,700 Analysis of the accounts at December 31, 2011, reveals these transactions for 2011: Purchase of supplies....... Cash payments for salaries...... Cash receipts in advance for services revenue... $ 8,700 52,300 106,400
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