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Cash 16,490 Accounts Receivatle 54,390 Supples on Hand 900 Propaid Fre nsurance 1,800 Prepaid Rent 21,600 Equipment 125,000 Accumolated Depveciation -Equpment $25,000 Accounts Payable 29,550
Cash 16,490 Accounts Receivatle 54,390 Supples on Hand 900 Propaid Fre nsurance 1,800 Prepaid Rent 21,600 Equipment 125,000 Accumolated Depveciation -Equpment $25,000 Accounts Payable 29,550 Notes Payable g000 Capital Stack 150,000 Retained Earnings, 2020 Janury 1 20,68S Service Revenue 179,010 Interest Expense 225 Salaries Eperse 142,200 Advertising Expense 29,250 Supples Expense 2,135 Miscalaneaus Expense 3,705 Legal and Accounting Expense 13,750 Utilities Epense 1,800 413,245 $413,245 The company consistently followed the policy of initially debiting all prepaid items to asset accounts. Prepaid fire insurance is USD 600 as of the end of the year. Supplies on hand are USD 638 as of the end of the year. Prepaid rent is USD 2,625 as of the end of the year. The equipment is expected to last 10 years with no salvage value. Accrued salaries are USD 2,625- a Prepare a 12-column work sheet for the year ended 2010 December 31. You need not include account numbers. Briefly explain the entries in the Adjustments columns at the bottom of the work sheet, as was done in Exhibit 20.
Cash 16,490
Accounts Receivatle 54,390
Supples on Hand 900
Propaid Fre nsurance 1,800
Prepaid Rent 21,600
Equipment 125,000
Accumolated Depveciation -Equpment $25,000
Accounts Payable 29,550
Notes Payable g000
Capital Stack 150,000
Retained Earnings, 2020 Janury 1 20,68S
Service Revenue 179,010
Interest Expense 225
Salaries Eperse 142,200
Advertising Expense 29,250
Supples Expense 2,135
Miscalaneaus Expense 3,705
Legal and Accounting Expense 13,750
Utilities Epense 1,800 413,245 $413,245
The company consistently followed the policy of initially debiting all prepaid items to asset accounts.
Prepaid fire insurance is USD 600 as of the end of the year.
Supplies on hand are USD 638 as of the end of the year.
Prepaid rent is USD 2,625 as of the end of the year.
The equipment is expected to last 10 years with no salvage value. Accrued salaries are USD 2,625-
a Prepare a 12-column work sheet for the year ended 2010 December 31. You need not include account numbers. Briefly explain the entries in the Adjustments columns at the bottom of the work sheet, as was done in Exhibit 20.
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