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I do not find a solution to the directions (1, 2, 3, 4, and 5) for problem 4-5B of Paradigm College Accounting 5th Edition by
I do not find a solution to the directions (1, 2, 3, 4, and 5) for problem 4-5B of Paradigm College Accounting 5th Edition by Robert L. Dansby, Burton S. Kaliski, Michael D. Lawrence anywhere.
Objective: To prepare a work sheet and financial statements and journalize adjusting entries. Greg Westby, owner of Westby Delivery Service, prepared the trial balance pictured on December 31, 20X2.
Thank you in advance!
Debit Credit - CULO LOSOWOO OOOOOOO 4 0 0000 Westby Delivery Service Trial Balance December 31, 20X2 Account Title Cash Accounts Receivable Office Supplies Truck Supplies Prepaid Insurance Office Equipment Accumulated Depreciation Office Equipment Trucks Accumulated Depreciation-Trucks Accounts Payable Salaries Payable Greg Westby, Capital Greg Westby, Drawing Service Revenue Rent Expense Office Supplies Expense Truck Supplies Expense Insurance Expense Salaries Expense Depreciation Expense-Office Equipment Depreciation Expense-Trucks Utilities Expense Totals 84 00 00 60 oo oo 16 4 85.00 150 00 00 98 800 00 4800 00 33 0 0 0 0 26 00 00 133 6 8 500 133 6 8 500 Adjustment data: (a) Office supplies on hand. $2,000. (b) Truck supplies on hand, $2,650. (c) Insurance expired during the year, $1,800. (d) Depreciation of office equipment during the year. $2,800 (e) Depreciation of trucks during the year, $4,200. (6) Salaries unpaid at the end of the year. $1,200. Directions: 1. Record the trial balance on a 10-column work sheet, and complete the work sheet. 2. Prepare an income statement for the year ended December 31, 20X2. 3. Prepare a statement of owner's equity for the year ended December 31, 20x2. 4. Prepare a balance sheet as of December 31, 20X2. 5. Journalize the December 31, 20X2. adjusting entriesStep by Step Solution
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