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Buffalo Company has a fiscal year ending on September 30. Selected data from the September 30 worksheet are presented below. BUFFALO COMPANY Worksheet For The
Buffalo Company has a fiscal year ending on September 30. Selected data from the September 30 worksheet are presented below.
BUFFALO COMPANY Worksheet For The Month Ended September 30, 2017 | ||||||||
Trial Balance | Adjusted Trial Balance | |||||||
Debit | Credit | Debit | Credit | |||||
Cash | 39,680 | 39,680 | ||||||
Supplies | 20,880 | 4,514 | ||||||
Prepaid Insurance | 31,900 | 4,021 | ||||||
Land | 87,560 | 87,560 | ||||||
Equipment | 127,560 | 127,560 | ||||||
Accumulated Depreciation-Equipment | 38,480 | 45,910 | ||||||
Accounts Payable | 16,880 | 16,880 | ||||||
Unearned Service Revenue | 3,280 | 738 | ||||||
Mortgage Payable | 54,560 | 54,560 | ||||||
Common Stock | 115,260 | 115,260 | ||||||
Retained Earnings, Sept. 1, 2017 | 2,000 | 2,000 | ||||||
Dividends | 14,000 | 14,000 | ||||||
Service Revenue | 286,060 | 288,602 | ||||||
Salaries and Wages Expense | 108,420 | 108,420 | ||||||
Maintenance and Repairs Expense | 32,780 | 32,780 | ||||||
Advertising Expense | 9,400 | 9,400 | ||||||
Utilities Expenses | 19,180 | 19,180 | ||||||
Property Tax Expense | 18,580 | 21,240 | ||||||
Interest Expense | 6,580 | 11,750 | ||||||
Totals | 516,520 | 516,520 | ||||||
Insurance Expense | 27,879 | |||||||
Supplies Expense | 16,366 | |||||||
Interest Payable | 5,170 | |||||||
Depreciation Expense | 7,430 | |||||||
Property Tax Payable | 2,660 | |||||||
Totals | 531,780 | 531,780 |
1. Prepare a complete worksheet(With adjustments included)
2.Prepare a classified balance sheet
3. Journalize adjusting entries using the worksheet as a basis
4. Journalize closing entries using the worksheet as a basis
5. Prepare a post-closing trial balance
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