Answered step by step
Verified Expert Solution
Question
1 Approved Answer
50) The unadjusted trial balance of R. Tryon, Consultant is entered on the partial work sheet below. Complete the work sheet using the following information.
50) The unadjusted trial balance of R. Tryon, Consultant is entered on the partial work sheet below. Complete the work sheet using the following information. Make sure to complete all columns and rows contained in this worksheet: (a) Salaries earned by employees that are unpaid and unrecorded, S500. (As an example, only, the "adjustment entry" is completed for you.) (b) An inventory of supplies showed $800 of unused supplies still on hand. (c) Depreciation on equipment, $1,300. R. Tyron, Consulting Work Sheet For the year ended December 31 Balance Sheet and Unadjusted Adjusted Income Statement of Trial Balance Adjustments Trial Balance Statement Owner's Equity Account Title Cr. Dr. Dr. Cr. Dr. Cr. Dr. Cr Dr. Cr. Cash 14,000 Supplies 1,000 Equipment 11,000 Accum. Depr. Equip 2,000 Accounts Payable 500 Salaries payable (a) 500 R. Tryon, Capital 6,500 R. Tyron, Consulting Work Sheet For the year ended December 31 Unadjusted Trial Balance Dr. Cr. Adjusted Trial Balance Dr. Cr. Adjustments Cr Balance Sheet and Statement al Owner's Equity Dr. Cr Income Statement Dr. C. Account Title Cash 14,000 Supplies 1,000 Equipment 11,000 Accum. Depr. Equip 2,000 Accounts Payable 500 Salaries payable la 500 R. Tryon, Capital 6,500 R. Tryon, Withdrawals 1,500 Fees earned 30,000 Salaries expense 7,500 (a) 500 Rent expense 4,000 Supplies expense Depreciation expense Totals 39,000 39,000 Net Income Totals
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started