Question
Blink-On Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Blink-On Company prepared the end-of-period spreadsheet (work sheet) at
Blink-On Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Blink-On Company prepared the end-of-period spreadsheet (work sheet) at March 31, 2008, the end of the current fiscal year - Based on the following spreadsheet prepare
An income statement
A statement of the owners equity for the year ended March 31, 2008 no additional investments made during the year
Blink-On Company | |||||||||||
End of-Period Spreadsheet (Work Sheet) | |||||||||||
For the Year Ended March 31, 2008 | |||||||||||
Unadjusted Trial Balance | Adjusted Trial Balance | ||||||||||
Adjustments | Income Statement | Balance Sheet | |||||||||
Account Title | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | |
1 | Cash | 6300 | 6300 | 6300 | |||||||
2 | Accounts Receivable | 18900 | (a) 3500 | 22400 | 22400 | ||||||
3 | Prepaid Insurance | 4200 | (b) 2800 | 1400 | 1400 | ||||||
4 | Supplies | 2730 | (c) 1600 | 1130 | 1130 | ||||||
5 | Land | 98000 | 98000 | 98000 | |||||||
6 | Building | 140000 | 140000 | 140000 | |||||||
7 | Acc. Dept --Building | 100300 | (d) 1400 | 101700 | 101700 | ||||||
8 | Equipmaent | 100500 | 100500 | 100500 | |||||||
9 | Acc. Dept --Equipmentt | 85100 | (e ) 3200 | 88300 | 88300 | ||||||
10 | Accounts Payable | 5700 | 5700 | 5700 | |||||||
11 | Unearned Rent | 2100 | (g) 1200 | 900 | 900 | ||||||
12 | Amanda Ayers, Capital | 78100 | 78100 | 78100 | |||||||
13 | Amanda Ayers, Drawing | 5600 | 5600 | 5600 | |||||||
14 | Fees Revenue | 253700 | (a) 3500 | 257200 | 257200 | ||||||
15 | Salaries & Wages Expense | 102500 | (f) 1800 | 104300 | 104300 | ||||||
16 | Advertising Expense | 21700 | 21700 | 21700 | |||||||
17 | Utilities Expense | 11400 | 11400 | 11400 | |||||||
18 | Repairs Expense | 8850 | 8850 | 8850 | |||||||
19 | Misc. Expense | 4320 | 4320 | 4320 | |||||||
20 | 525000 | 525000 | |||||||||
21 | Insurance Expense | (b) 2800 | 2800 | 2800 | |||||||
22 | Supplies Expense | (c ) 1600 | 1600 | 1600 | |||||||
23 | Depr. Exp -- Building | (d) 1400 | 1400 | 1400 | |||||||
24 | Depr. Exp -- Equipment | (e ) 3200 | 3200 | 3200 | |||||||
25 | Salaries & Wages Payable | (f) 1800 | 1800 | 1800 | |||||||
26 | Rent Revenue | (g) 1200 | 1200 | 1200 | |||||||
27 | 15500 | 15,500.00 | 534900 | 534900 | 159570 | 258400 | 375330 | 276500 | |||
28 | Net Income | 98830 | 98830 | ||||||||
29 | 258400 | 258400 | 375330 | 375330 |
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