Gus's Gone Fishing Expeditions Trial Balance Worksheet December 31, 2019 Adjustments Adjusted Trial Balance Credit De Credit Income Statement Debt Credit Statement of Ret Earnings Deti Credit Balance Sheet Debt Credit Account Cash 7 Accounts receivable 8 Office supplies 9 Prepaid insurance 10 Notes receivable 11 Investments in stocks and bonds 12 Pastureland held for future expansion 13 Land 14 Bags 15 Equipment 16 Accumulated depreciation 17 Accounts payable 18 Saarios payable 19 Accrued payroll taxes 20 Accrued real estate taxes 21 Unearned revenue customer downpayments 22 Notes payable. Ine of credit 23 Long-term bor paytle 24 Commons 25 Rondearings 20 Dividendo 27 Fosteamed Uradjusted Trial Balance De Credit 8,650 6.90 1,300 6,300 5,500 1720 15.000 30,000 05.000 125,000 64770 8.500 4 300 16.780 5.000 35.000 67600 20,000 102.000 29,750 31225 6.800 3.200 Payroll taxes Employees 31 Rort expense 32 Advertising expense 33 Insurance expanse 34 csupplies expense 35 Gas Fuel & 01 36 Repairs and maintenance expense 37 Real estate taxes 30 Lts es pense 39 Depreciation equipment 40 Travel expense 41 Interest expense 42 Totals 43 Net Income 1.125 4,400 2.25 2.765 5.200 756,115 755,115 45 Ending retained earnings 46 H Debit Credit Credit 48 Adjusting Entries: 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 80 84 70 71 72 73 74 75 76 77 The annual premium for the insurance policy was paid on August 1, 2019 for $6,300 and posted to prepaid insurance. 78 79 The office supplies were counted on 12-31-19 and had a balance of $550. 81 The sales & adminstrative staff have salaries of $350 per day and the guides have salaries of $725 a day. 82 The last payroll paid was on Monday December 30, 2019 for period ending Wednesday December 25, 2019. 83 Assume that everyone works a six day work week for this problem. Sundays are not work days. 85 Depreciation for 2019 is $22,800. 87 The actual customer downpayments left at 12-31-19 are $9,850. 89 The 2018 real estate taxes were paid in 2019 for the amount of $5,600. The 2019 real estate taxes will be 90 paid in 2020. The 2019 real estate taxes are expected to be 5% more than 2018. 92 93 This information is not for adjusting entries - balance sheet only 95 Current portion of long-term debt $5,500 how much they have to pay for the coming year 35000 on balance sheets gets broken into current and noncurrent liabilities Instructions TB worksheet Balance Sheet State of Ret Earn Income Statement Clos 86 88 91 94 96 97 Gus's Gone Fishing Expeditions Trial Balance Worksheet December 31, 2019 Adjustments Adjusted Trial Balance Credit De Credit Income Statement Debt Credit Statement of Ret Earnings Deti Credit Balance Sheet Debt Credit Account Cash 7 Accounts receivable 8 Office supplies 9 Prepaid insurance 10 Notes receivable 11 Investments in stocks and bonds 12 Pastureland held for future expansion 13 Land 14 Bags 15 Equipment 16 Accumulated depreciation 17 Accounts payable 18 Saarios payable 19 Accrued payroll taxes 20 Accrued real estate taxes 21 Unearned revenue customer downpayments 22 Notes payable. Ine of credit 23 Long-term bor paytle 24 Commons 25 Rondearings 20 Dividendo 27 Fosteamed Uradjusted Trial Balance De Credit 8,650 6.90 1,300 6,300 5,500 1720 15.000 30,000 05.000 125,000 64770 8.500 4 300 16.780 5.000 35.000 67600 20,000 102.000 29,750 31225 6.800 3.200 Payroll taxes Employees 31 Rort expense 32 Advertising expense 33 Insurance expanse 34 csupplies expense 35 Gas Fuel & 01 36 Repairs and maintenance expense 37 Real estate taxes 30 Lts es pense 39 Depreciation equipment 40 Travel expense 41 Interest expense 42 Totals 43 Net Income 1.125 4,400 2.25 2.765 5.200 756,115 755,115 45 Ending retained earnings 46 H Debit Credit Credit 48 Adjusting Entries: 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 80 84 70 71 72 73 74 75 76 77 The annual premium for the insurance policy was paid on August 1, 2019 for $6,300 and posted to prepaid insurance. 78 79 The office supplies were counted on 12-31-19 and had a balance of $550. 81 The sales & adminstrative staff have salaries of $350 per day and the guides have salaries of $725 a day. 82 The last payroll paid was on Monday December 30, 2019 for period ending Wednesday December 25, 2019. 83 Assume that everyone works a six day work week for this problem. Sundays are not work days. 85 Depreciation for 2019 is $22,800. 87 The actual customer downpayments left at 12-31-19 are $9,850. 89 The 2018 real estate taxes were paid in 2019 for the amount of $5,600. The 2019 real estate taxes will be 90 paid in 2020. The 2019 real estate taxes are expected to be 5% more than 2018. 92 93 This information is not for adjusting entries - balance sheet only 95 Current portion of long-term debt $5,500 how much they have to pay for the coming year 35000 on balance sheets gets broken into current and noncurrent liabilities Instructions TB worksheet Balance Sheet State of Ret Earn Income Statement Clos 86 88 91 94 96 97