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Final (AC251) Name: #1. Debit Doctors, Inc., company has experienced severe financial difficulty. Its accountant prepares adjusting entries on a monthly basis provides accounting advice
Final (AC251) Name: #1. Debit Doctors, Inc., company has experienced severe financial difficulty. Its accountant prepares adjusting entries on a monthly basis provides accounting advice over the Internet. In recent years the and closing entries on an annual basis at December 31. An adjusted trial balance dated December 31, 2015, follows. Debits Credits Cash.... ..S 450 Accounts receivable 220 1,600 .1,800 Unexpired insurance Prepaid rent... Supplies 900 10,000 Furniture and fixtures Accumulated depreciation: furniture and fixtures S 6.600 Accounts payable. 7,100 24,000 2,100 170 . . . Salaries payable Interest payable Unearned client revenue .. . . 600 4,000 2,000 56,700 Capital stock . Retained earnings . . 6,200 ..12,000 300 48,000 Office rent expense Supplies expense... fixtures . . . .1,200 Office and telephone expense . .. . .. . Internet service expense Legal expense 4,600 7,200 1,800 2,700 ....4.300 $103,270 $103,270 Final (AC251) Name: #1. Debit Doctors, Inc., company has experienced severe financial difficulty. Its accountant prepares adjusting entries on a monthly basis provides accounting advice over the Internet. In recent years the and closing entries on an annual basis at December 31. An adjusted trial balance dated December 31, 2015, follows. Debits Credits Cash.... ..S 450 Accounts receivable 220 1,600 .1,800 Unexpired insurance Prepaid rent... Supplies 900 10,000 Furniture and fixtures Accumulated depreciation: furniture and fixtures S 6.600 Accounts payable. 7,100 24,000 2,100 170 . . . Salaries payable Interest payable Unearned client revenue .. . . 600 4,000 2,000 56,700 Capital stock . Retained earnings . . 6,200 ..12,000 300 48,000 Office rent expense Supplies expense... fixtures . . . .1,200 Office and telephone expense . .. . .. . Internet service expense Legal expense 4,600 7,200 1,800 2,700 ....4.300 $103,270 $103,270
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