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Credit SUSQUEHANNA EQUIPMENT RENTALS After-Closing Trial Balance December 31, Year Debit Cash Rental equipment Office supplies Notes payable Prepaid rent Accounts payable Unearned rental fees

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Credit SUSQUEHANNA EQUIPMENT RENTALS After-Closing Trial Balance December 31, Year Debit Cash Rental equipment Office supplies Notes payable Prepaid rent Accounts payable Unearned rental fees Accounts receivable Dividends payable Interest payable Unexpired insurance Salaries payable Accumulated depreciation: rental equipment Capital stock Income taxes payable Retained earnings 9 __ Totals 0 $ Dec.26 Rented a backhoe to Mission Landscaping at a price of $290 per day, to be paid when the backhoe is returned. Mission Landscaping expects to keep the backhoe for about two or three weeks. Dec.26 Paid biweekly salaries, $4,900. Dec.27 Paid the account payable to Earth Movers, Inc., 5700. Dec.28 Declared a dividend of 10 cents per share, payable on January 15, Year 2. Dec. 29 Susquehanna Equipment Rentals was named, along with Mission Landscaping and Collier Construction, as a co-defendant in a $25,000 lawsuit filed on behalf of Kevin Davenport, Mission Landscaping had left the rented backhoe in a fenced construction site owned by Collier Construction. After working hours on December 26, Davenport had climbed the fence to play on parked construction equipment. While playing on the backhoe, he fell and broke his arm. The extent of the company's legal and financial responsibility for this accident, if any, cannot be determined at this time. (Note: This event does not require a journal entry at this time, but may require disclosure in notes accompanying the statements.) Dec.29 Purchased a 12-month public liability insurance policy for $9,600. This poliey protects the company against liability for injuries and property damage caused by its equipment. However, the policy goes into effect on January 1, Year 2, and affords no coverage for the injuries sustained by Kevin Davenport on December 26. Dec.31 Received a bill from Universal Utilities for the month of December, S620. Payment is due in 30 days. Dec.31 Equipment rental fees camned during the second half of December amounted to $20.600. of which $16,200 was received in cash. Data for Adjusting Entries a. The advance payment of rent on December 1 covered a period of three months. b. The annual interest rate on the note payable to Rent-Isis 6 percent. e. The rental equipment is being depreciated by the straight-line method over a period of eight years. d. Office supplies on hand at December 31 are estimated at $640. e. During December, the company camed 54,300 of the rental fees paid in advance by MoNamst. Construction Company on December 8. 1. As of December 31, six days' rent on the backhoe rented to Mission Landscaping on December 26 has been carned. Salaries earned by employees since the last payroll date (December 26) amounted to $1,200 at month-end b. It is estimated that the company is subject to a combined federal and state income tax rate of 30 percent of income before income taxes (total revenue minus all expenses other than income taxes). These taxes will be payable in Year 2 Comprehensive Problem 1 Part 7 Prepare an after-closing trial balance as of December 31. Round your final answers to nearest Whole dollar

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