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A partial tabular summary for Pina Colada Corp. on July 31, 2022, includes the following accounts before adjustments have been prepared. Assets Liabilities +
A partial tabular summary for Pina Colada Corp. on July 31, 2022, includes the following accounts before adjustments have been prepared. Assets Liabilities + Stockholders' Equity Retained Earnings Invest. Prepd. Notes Rec. Supplies + Rent Bldgs. Acc. Depr Bldgs. Unearned Com. Serv. Rev. + Stock + Rev. Exp. Div Bal. 21,200 25,440. 3,816 265,000 -148,400 12.190 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 6% per year. 2. Supplies on hand at the end of the month totaled $19.716. 3. The balance in Prepaid Rent represents 4 months of rent costs. Three months of rent remain unexpired at the end of July. 4. Employees were owed $3,286 related to unpaid salaries and wages. 5. Depreciation on buildings is $6,360 per year. 6. During the month, the company satisfied obligations worth $4.982 related to the Unearned Service Revenue. 7. Unpaid maintenance and repairs costs were $2,438.
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