n.com Saved lem #2 - Chapters 1-9 Journal entry worksheet 2 3 4 5 6 7 8 Record the adjustment to the Cash account. Note: Enter debits before credits. General Journal Debit Credit Transaction (a) Record entry Clear entry View general jour 2D2 DAGAA Prev 1 of 1 Ne o education.com we Problem #2 - Chapters 1-9 Savod 0 23,000 18,000 59,700 18,000 76.000 888 81,826 48,700 0 Interest payable Long-term notes payable Common stock Retained earnings Dividends Extermination services revenue Interest revenue Salos Cost of goods sold Deprec. expense- Trucks Deprec expense-Equip Wages expense Interest expense Rent expense Bad debts expense Miscellaneous expense Repairs expense Utilities expense Warranty expense Totals 0 43,000 0 17,000 0 1,258 12,000 8.400 0 $ 286,058 5 286,058 $ 0 $ 0 $ 0 $ 0 Prey 1 1 of 1 Next ot N > Connect French Traditiomx French Culture X Cultural Atlas - FX 6 17 Things Abo mheducation.com sive Problem #2 - Chapters 1-9 Saved and then completing the adjusted trial balance columns, Hint: Item brequires two adjustments. (Do not rou intermediate calculations.) Adjusted Trial Balance Debit Credit BUGOFF EXTERMINATORS Docomber 31, 2019 Unadjusted Trial Balance Adjustments Debit Credit Debit Credit $ 18,600 4.800 $ 844 14 100 40,000 0 Account Title Cash Accounts receivable Allowance for doubtful accounts Merchandise inventory Trucks Accum deprec-Trucks Equipment Accum deprec-Equip Accounts payable Estim, warranty liability Unearned services rev Interest payable Long-term notes payable Common stock 60.200 18,600 5,400 1.800 0 01 23.000 18,000 PG 1 of 1 Nex arch E rehensive Problem #2 - Chapters 1-9 Saved 1 a Reconciled balance b. Omitted check Necessary adjustment Depreciation expense c ook d. int Sprayer Injector Depreciation expense ences e Services Revenue Unearned Services Revenue Ending balances after adjustment Warranty Expense Estimated Warranty Liability Ending balances after adjustment 9 Interest Expense Interest Payable Ending balances after adjustment Prey 1 of 1 BE to search ORA French W X Atlas X French box Connect e 17 Themes About X education.com sive Problem #2 Chapters 1-9 40. Prepare a single-step income statement for year 2019 4b. Prepare the statement of retained earnings (cash dividends during 2019 were $18,000) for 2019, 4c. Prepare a classified balance sheet as at 2019 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Rega Reg 4 Reg 48 Req 40 a. Correct (reconciled) ending balance of Cash and the amount of the omitted check. b. Adjustment needed to obtain the correct ending balance of the Allowance for Doubtful Accounts c. Depreciation expense for the truck used during year 2019 d. Depreciation expense for the two items of equipment used during year 2019, e. The adjusted 2019 anding balances of the Extermination Services Revenue and Unearned Services Revenue accounts. not round your intermediate calculations f. The adjusted 2019 ending balances of the accounts for Warranty Expense and Estimated Warranty ability g. The adjusted 2019 ending balances of the accounts for Interest Expense and Interest Payable. Show less Reconciled balance Omitted check Necessary adjustment Depreciation expense D b . PO Nox Orch O 11 Extermination Services Revenue account 1. The company offers a warranty for the services itsells. The expected cost of providing warranty service is 2.5% of the extermination services revenue of $67,800 for 2019. No warranty expense has been recorded for 2019 All costs of servicing warranties in 2019 were properly debited to the Estimated Warranty liability account g. The $19.000 long-term note h an 8%, five year, interest bearing note with interest payable annually on December 31. The note was signed with First National Bank on December 31, 2019 h. The ending inventory of merchandise is counted and determined to have a cost of $14,100 Bug-Off uses a perpetual inventory system Required: 1. Determine amounts for the following items a. Correct reconciledy ending balance of Cash; and the amount of the omitted check b. Adjustment needed to obtain the correct ending balance of the Allowance for Doubtful Accounts c. Depreciation expense for the truck used during year 2019 d. Depreciation expense for the two items of equipment used during year 2019 . The adjusted 2019 ending balances of the Extermination Services Revenue and Unearned Services Revenue accounts. 1. The adjusted 2019 ending balances of the accounts for Warranty Expense and Estimated Warranty Liability 9. The adjusted 2019 ending balances of the accounts for Interest Expense and Interest Payable 2. Use the results of partito complete the six column table by first entening the appropriate adjustments for items a through gand then completing the adjusted trial balance columns Hint Item requires two adjustments 3. Prepare journal entries to record the adjustments entered on the six column table. Assume Bug-Off's adjusted balance for Merchandise Inventory matches the year end physical count 40. Prepare a single-step income statement for year 2019 4b. Prepare the statement of retained earnings (cash dividends during 2019 were $18,000) for 2019. 4c. Prepare a classified balance sheet as at 2019 Prev 1 of 1 fli Next Check Reported on the bank statement is a canceled check that the company failed to record. (Information from the bank reconciliation allows you to determine the amount of this check, which is a payment on an account payable.) b. An examination of customers accounts shows that accounts totaling $687 should be written off as uncollectible Using an aging of receivables, the company determines that the ending balance of the Allowance for Doubtful Accounts should be $740 c. A truck is purchased and placed in service on January 1, 2019. Its cost is being depreciated with the straight-line method using the following facts and estimates Original cost Expected salvage value Useful life (years) $16,000 $11,200 4 d. Two items of equipment (a sprayer and an injector were purchased and put into service in early January 2017. They are being depreciated with the straight-line method using these facts and estimates. Original cost Expected salvage value Useful life (years) Sprayer Injector $33,400 $19.600 $3,000 $3,300 5 e. On September 1, 2019, the company is paid $12,300 cash in advance to provide monthly service for an apartment complex for one year. The company began providing the services in September. When the cash was received the full amount was credited to the Extermination Services Revenue account 1. The company offers a warranty for the services itsells. The expected cost of providing warranty service is 2.5% of the extermination Prav 1 of 1 !!! NX 43,000 17,000 Depreciation expense-Equipment Wages expense Interest expense Rent expense Bad debts expense Miscellaneous expense Repairs expense Utilities expense Warranty expense Totals 1,258 12,000 8,400 $286,058 $286,058 The following information in a through happlies to the company at the end of the current year. a. The bank reconciliation as of December 31, 2019, includes the following facts. Cash balance per bank Cash balance per books Outstanding checks Deposit in transit Interest earned (on bank account) Bank service charges (miscellaneous expense) $15,900 18,688 2,200 2,850 68 23 Reported on the bank statement is a canceled check that the company failed to record (Information from the bank reconciliation allows you to determine the amount of this check. which is a payment on an account payable.) Frey 1 of 1 Hii Nex Check Bug Off Exterminators provides pest control services and sells extermination products manufactured by other companies. Following is the company's unadjusted trial balance as of December 31, 2019. December 11, 2019 Inadjusted Trial Balance $ 18,600 $ 844 14,100 40.000 0 60,200 13.600 5,400 1,800 Cash Accounts receivable Allowance for doubtful accounts Merchandise inventory Trucks Accum depreciation Trucks Equipment Accum. depreciation Equipment Accounts payable Estimated warranty ability Unearned services revenue Interest payable Long-tere notes payable Common stock Retained earnings Dividends Extermination Services revenue Interest revenue Sales (of merchandise) Cost of goods sold Depreciation expens-Trucks Depreciation expense-Equipment Wages expense Interest expense Rent expense Bad debts expense e 23,000 18,600 59,700 16,000 76,000 81,826 48.700 0 43,000 17,000 n.com Saved lem #2 - Chapters 1-9 Journal entry worksheet 2 3 4 5 6 7 8 Record the adjustment to the Cash account. Note: Enter debits before credits. General Journal Debit Credit Transaction (a) Record entry Clear entry View general jour 2D2 DAGAA Prev 1 of 1 Ne o education.com we Problem #2 - Chapters 1-9 Savod 0 23,000 18,000 59,700 18,000 76.000 888 81,826 48,700 0 Interest payable Long-term notes payable Common stock Retained earnings Dividends Extermination services revenue Interest revenue Salos Cost of goods sold Deprec. expense- Trucks Deprec expense-Equip Wages expense Interest expense Rent expense Bad debts expense Miscellaneous expense Repairs expense Utilities expense Warranty expense Totals 0 43,000 0 17,000 0 1,258 12,000 8.400 0 $ 286,058 5 286,058 $ 0 $ 0 $ 0 $ 0 Prey 1 1 of 1 Next ot N > Connect French Traditiomx French Culture X Cultural Atlas - FX 6 17 Things Abo mheducation.com sive Problem #2 - Chapters 1-9 Saved and then completing the adjusted trial balance columns, Hint: Item brequires two adjustments. (Do not rou intermediate calculations.) Adjusted Trial Balance Debit Credit BUGOFF EXTERMINATORS Docomber 31, 2019 Unadjusted Trial Balance Adjustments Debit Credit Debit Credit $ 18,600 4.800 $ 844 14 100 40,000 0 Account Title Cash Accounts receivable Allowance for doubtful accounts Merchandise inventory Trucks Accum deprec-Trucks Equipment Accum deprec-Equip Accounts payable Estim, warranty liability Unearned services rev Interest payable Long-term notes payable Common stock 60.200 18,600 5,400 1.800 0 01 23.000 18,000 PG 1 of 1 Nex arch E rehensive Problem #2 - Chapters 1-9 Saved 1 a Reconciled balance b. Omitted check Necessary adjustment Depreciation expense c ook d. int Sprayer Injector Depreciation expense ences e Services Revenue Unearned Services Revenue Ending balances after adjustment Warranty Expense Estimated Warranty Liability Ending balances after adjustment 9 Interest Expense Interest Payable Ending balances after adjustment Prey 1 of 1 BE to search ORA French W X Atlas X French box Connect e 17 Themes About X education.com sive Problem #2 Chapters 1-9 40. Prepare a single-step income statement for year 2019 4b. Prepare the statement of retained earnings (cash dividends during 2019 were $18,000) for 2019, 4c. Prepare a classified balance sheet as at 2019 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Rega Reg 4 Reg 48 Req 40 a. Correct (reconciled) ending balance of Cash and the amount of the omitted check. b. Adjustment needed to obtain the correct ending balance of the Allowance for Doubtful Accounts c. Depreciation expense for the truck used during year 2019 d. Depreciation expense for the two items of equipment used during year 2019, e. The adjusted 2019 anding balances of the Extermination Services Revenue and Unearned Services Revenue accounts. not round your intermediate calculations f. The adjusted 2019 ending balances of the accounts for Warranty Expense and Estimated Warranty ability g. The adjusted 2019 ending balances of the accounts for Interest Expense and Interest Payable. Show less Reconciled balance Omitted check Necessary adjustment Depreciation expense D b . PO Nox Orch O 11 Extermination Services Revenue account 1. The company offers a warranty for the services itsells. The expected cost of providing warranty service is 2.5% of the extermination services revenue of $67,800 for 2019. No warranty expense has been recorded for 2019 All costs of servicing warranties in 2019 were properly debited to the Estimated Warranty liability account g. The $19.000 long-term note h an 8%, five year, interest bearing note with interest payable annually on December 31. The note was signed with First National Bank on December 31, 2019 h. The ending inventory of merchandise is counted and determined to have a cost of $14,100 Bug-Off uses a perpetual inventory system Required: 1. Determine amounts for the following items a. Correct reconciledy ending balance of Cash; and the amount of the omitted check b. Adjustment needed to obtain the correct ending balance of the Allowance for Doubtful Accounts c. Depreciation expense for the truck used during year 2019 d. Depreciation expense for the two items of equipment used during year 2019 . The adjusted 2019 ending balances of the Extermination Services Revenue and Unearned Services Revenue accounts. 1. The adjusted 2019 ending balances of the accounts for Warranty Expense and Estimated Warranty Liability 9. The adjusted 2019 ending balances of the accounts for Interest Expense and Interest Payable 2. Use the results of partito complete the six column table by first entening the appropriate adjustments for items a through gand then completing the adjusted trial balance columns Hint Item requires two adjustments 3. Prepare journal entries to record the adjustments entered on the six column table. Assume Bug-Off's adjusted balance for Merchandise Inventory matches the year end physical count 40. Prepare a single-step income statement for year 2019 4b. Prepare the statement of retained earnings (cash dividends during 2019 were $18,000) for 2019. 4c. Prepare a classified balance sheet as at 2019 Prev 1 of 1 fli Next Check Reported on the bank statement is a canceled check that the company failed to record. (Information from the bank reconciliation allows you to determine the amount of this check, which is a payment on an account payable.) b. An examination of customers accounts shows that accounts totaling $687 should be written off as uncollectible Using an aging of receivables, the company determines that the ending balance of the Allowance for Doubtful Accounts should be $740 c. A truck is purchased and placed in service on January 1, 2019. Its cost is being depreciated with the straight-line method using the following facts and estimates Original cost Expected salvage value Useful life (years) $16,000 $11,200 4 d. Two items of equipment (a sprayer and an injector were purchased and put into service in early January 2017. They are being depreciated with the straight-line method using these facts and estimates. Original cost Expected salvage value Useful life (years) Sprayer Injector $33,400 $19.600 $3,000 $3,300 5 e. On September 1, 2019, the company is paid $12,300 cash in advance to provide monthly service for an apartment complex for one year. The company began providing the services in September. When the cash was received the full amount was credited to the Extermination Services Revenue account 1. The company offers a warranty for the services itsells. The expected cost of providing warranty service is 2.5% of the extermination Prav 1 of 1 !!! NX 43,000 17,000 Depreciation expense-Equipment Wages expense Interest expense Rent expense Bad debts expense Miscellaneous expense Repairs expense Utilities expense Warranty expense Totals 1,258 12,000 8,400 $286,058 $286,058 The following information in a through happlies to the company at the end of the current year. a. The bank reconciliation as of December 31, 2019, includes the following facts. Cash balance per bank Cash balance per books Outstanding checks Deposit in transit Interest earned (on bank account) Bank service charges (miscellaneous expense) $15,900 18,688 2,200 2,850 68 23 Reported on the bank statement is a canceled check that the company failed to record (Information from the bank reconciliation allows you to determine the amount of this check. which is a payment on an account payable.) Frey 1 of 1 Hii Nex Check Bug Off Exterminators provides pest control services and sells extermination products manufactured by other companies. Following is the company's unadjusted trial balance as of December 31, 2019. December 11, 2019 Inadjusted Trial Balance $ 18,600 $ 844 14,100 40.000 0 60,200 13.600 5,400 1,800 Cash Accounts receivable Allowance for doubtful accounts Merchandise inventory Trucks Accum depreciation Trucks Equipment Accum. depreciation Equipment Accounts payable Estimated warranty ability Unearned services revenue Interest payable Long-tere notes payable Common stock Retained earnings Dividends Extermination Services revenue Interest revenue Sales (of merchandise) Cost of goods sold Depreciation expens-Trucks Depreciation expense-Equipment Wages expense Interest expense Rent expense Bad debts expense e 23,000 18,600 59,700 16,000 76,000 81,826 48.700 0 43,000 17,000