Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Current Attempt in Progress The unadjusted trial balance and adjustment data for Sunland Ridge Plumbing are provided. Credit $35,700 SUNLAND RIDGE PLUMBING Trial Balance October
Current Attempt in Progress The unadjusted trial balance and adjustment data for Sunland Ridge Plumbing are provided. Credit $35,700 SUNLAND RIDGE PLUMBING Trial Balance October 31, 2021 Debit Cash $15,500 Supplies 25.400 Equipment 119.000 Accumulated depreciation-equipment Vehicles 116.000 Accumulated depreciation-vehicles Accounts payable Notes payable H. Burke, capital H. Burke, drawings 36,600 Service revenue Repairs expense 27,200 Insurance expense 9.900 Interest expense 3,120 Rent expense 20,700 Salaries expense 44.100 $417.520 50.750 8,450 54,600 77.220 190,800 $417.520 Additional information 1 2 3. The equipment has an expected useful life of 10 years. The vehicles expected useful life is eight years. A physical count showed $2,200 of supplies on hand at October 31, 2021. Accrued salaries payable at October 31, 2021 were $2.500. Interest on the 6.0% note payable is payable at the end of each month and $9,100 of the principal must be paid on December 31 each year, Interest payments are up to date as at September 30, 2021. The owner, H. Burke, invested $2,000 cash in the business on December 28, 2020. (Note: This has been correctly recorded 5. Question 1 of 3 -13 ili Adjustments Account Titles Trial Balance Debit Credit $15,500 Debit Credit Cash $ 15454,50 $ Supplies 25,400 2200 Equipment 119,000 119000 Accumulated depreciation-equipment $35,700 3689167 Vehicles 116,000 116.000 Accumulated depreciation-vehicle 50,750 67958.33 Accounts payable 8.450 8.450 Satarles payable Interest payable Notes payable 54.600 54,600 H. Burke. capital 77.220 27.220 H. Burke, drawings 36,600 36.000 Service revenue 190,800 190,800 Depreciation expense 2200 Repairs expense 27,200 27,200 Insurance expense 9.900 Interest expense 3.120 3165.50 Rent expense 20,700 20.700 Salaries expense 44,100 45500 Suoples expense 23200 Totals $417.520 5417.520 5 422220 5 632220 Profit Totais > -/3 Question 1 of 3 SUNLAND RIDGE PLUMBING Work Sheet Adjusted Trial Balance Income Statement Debit Credit Debit Credit $ $ $ -73 III tatement Balance Sheet Credit Debit Credit $ $ $
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5aa39a616_922669e5aa2dd1e8.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5aa4b861d_924669e5aa4072e2.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5aa59fab3_925669e5aa509fac.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5aa69e5b5_925669e5aa5e239b.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started