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Riverbed Corp's unadjusted trial balance at December 1, 2017. is presented below. Debit Credit Cash $25,500 Accounts Receivable 35,400 Notes Receivable 8,000 Interest Receivable 0 Inventory 36,160 Prepaid Insurance 3,300 Land 21,900 Buildings 152,100 Equipment 60,000 Patent 9.450 Allowance for Doubtful Accounts $600 Accumulated Depreciation-Buildings 50,700 Accumulated Depreciation-Equipment 24,000 Accounts Payable 28,300 Salaries and Wages Payable 0 H 80 F3 999 009 99 F4 DII DD 57 F8 F9 # 3 1 $ 4 % 5 6 & 7 8 9 E R T Y Notes Payable (due April 30, 2018) 12,500 Income Taxes Payable 0 Interest Payable 0 Notes Payable (due in 2023) 35,100 Common Stock 58.000 Retained Earnings 24,910 Dividends 19.500 14,500 Sales Revenue 925,000 Interest Revenue 0 Gain on Disposal of Plant Assets 0 Bad Debt Expense 0 Cost of Goods Sold 631,500 Depreciation Expense Income Tax Expense OOO Insurance Expense Interest Expense 0 Other Operating Expenses 61,300 MacBook Air 80 298 F4 DD F3 90 F DI 78 19 & 3 $ 4 % 5 6 7 8 9 E R T Y 1 0 D Amortization Expense 0 Salaries and Wages Expense 100.000 Total $1.159.110 $1.159.110 The following transactions occurred during December Dec 2 Purchased equipment for $15,600 plus sales taxes of $600 (paid in cash). 2 Riverbed sold for $3.550 equipment which originally cost $4,800. Accumulated depreciation on this equipment at January 1, 2017, was $1,850:2017 depreciation prior to the sale of equipment was $440. Riverbed sold for $5,100 on account inventory that cost $3,210, Salaries and wages of $6,550 were paid. 15 23 Adjustment data: 1 Riverbed estimates that uncollectible accounts receivable at year-end are $3.880. 2 The note receivable is a one-year, 8% note dated April 1, 2017. No interest has been recorded. 3. The balance in prepaid insurance represents payment of a $3.300, 6-month premium on September 1, 2017 4. The building is being depreciated using the straight-line method over 30 years. The salvage value is $31.500. MacBook Air + 80 888 ga 77 F3 DIL FB Fd DD 29 A %23 3 $ 4 % 5 6 & 7 00* ) 0 9 R T Y U I O D F G H. J L 38.75/50 Question 1 of 1 III Adjustment data 1 2. 3. Riverbed estimates that uncollectible accounts receivable at year end are $3,880. The note receivable is a one-year, 8% note dated April 1, 2017 No interest has been recorded The balance in prepaid insurance represents payment of a $3.300.6-month premium on September 1, 2017 The building is being depreciated using the straight-line method over 30 years. The salvage value is $31,500 The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost 4 5 6 The equipment purchased on December 2, 2017, is being depreciated using the straight-linc method over 5 years, with a salvage value of $2,400 7. 8. The patent was acquired on January 1, 2017 and has a useful life of years from that date. Unpaid salaries at December 31, 2017, total 2 120. Both the short-term and long-term notes payable are dated January 1, 2017, and carry a 10% interest rate. All interestis payable in the next 12 months. 9. 10 Income tax expense was $14,300. It was unpaidat December 31 Part 1 MacBook Ali 80 888 DD 25 75 ga 17 Du FB 24 * # 3 $ 4 % 5 6 AN ( 9 8 0 E 20 T Y U 0 D F G H. J K L
