Question
Light-It-Up Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Light-It-Up Company prepared the following end-of-period spreadsheet at August
Light-It-Up Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Light-It-Up Company prepared the following end-of-period spreadsheet at August 31, 20Y5, the end of the fiscal year: Light-It-Up Company End-of-Period Spreadsheet For the Year Ended August 31, 20Y5 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,800 10,800 Accounts Receivable 38,900 5,000 43,900 Prepaid Insurance 4,200 3,150 1,050 Supplies 2,730 2,180 550 Land 98,000 98,000 Building 400,000 400,000 Accumulated Depreciation-Building 205,300 12,000 217,300 Equipment 101,000 101,000 Accumulated Depreciation-Equipment 85,100 4,800 89,900 Accounts Payable 15,700 15,700 Salaries and Wages Payable 4,100 4,100 Unearned Rent 2,100 900 1,200 Common Stock 75,000 75,000 Retained Earnings 137,100 137,100 Dividends 10,000 10,000 Fees Earned 425,000 5,000 430,000 Rent Revenue 900 900 Salaries and Wages Expense 219,400 4,100 223,500 Advertising Expense 30,700 30,700 Utilities Expense 16,400 16,400 Depreciation Expense-Building 12,000 12,000 Repairs Expense 8,850 8,850 Depreciation Expense-Equipment 4,800 4,800 Insurance Expense 3,150 3,150 Supplies Expense 2,180 2,180 Miscellaneous Expense 4,320 4,320 945,300 945,300 32,130 32,130 971,200 971,200
Statement of Stockholder's Equity?
Balance Sheet?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started