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How do you set this up? I have a hard time knowing what goes where. Complete the End of Period Worksheet using the following Information.
How do you set this up? I have a hard time knowing what goes where.
Complete the End of Period Worksheet using the following Information. | |||||||||||||||
Unadjusted Trial Bal | Adjustments | Adjusted Trial Balance | Income Statement | Balance Sheet | |||||||||||
Account Number | Description (Account Name) | Debit | Credit | REF | Debit | REF | Credit | Debit | Credit | Debit | Credit | Debit | Credit | ||
1000 | Cash | 40,000 | |||||||||||||
1010 | Accounts Receivable | 8,000 | |||||||||||||
1020 | Supplies | 2,200 | |||||||||||||
1030 | Office Equipment | 10,000 | |||||||||||||
1040 | Accumulated Deprec. - Office Equip | 8,000 | |||||||||||||
1050 | Prepaid Insurance | 1,500 | |||||||||||||
2000 | Accounts Payable | 12,000 | |||||||||||||
2010 | Wages Payable | - | |||||||||||||
2020 | Unearned Fees | 4,000 | |||||||||||||
3000 | Austin Case, Capital | 29,400 | |||||||||||||
4000 | Fees Earned | 14,000 | |||||||||||||
5000 | Wages Expense | 5,000 | |||||||||||||
5010 | Insurance Expense | ||||||||||||||
5020 | Utilities Expense | 400 | |||||||||||||
5030 | Supplies Expense | ||||||||||||||
5040 | Deprec. Expense - Office Equipment | ||||||||||||||
5050 | Misc. Expense | 300 | |||||||||||||
Totals | 67,400 | 67,400 | |||||||||||||
Net Income | |||||||||||||||
Here is the data needed for month-end adjustments | Totals | ||||||||||||||
1 | Pre-paid insurance at the end of the month is | 1,000 | |||||||||||||
2 | Depreciation on office equipment is | 400 | |||||||||||||
3 | Wages payable at the end of the month | 1,400 | |||||||||||||
4 | Supplies on hand at the end of the month were | 1,400 | |||||||||||||
5 | Amount of unearned fees earned during the month | 2,500 |
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