NORTHLAND PHYSICAL THERAPY Trial Balance January 1,2021 11 Equipment 12 Accumulated Depreciation 13 Software 14 Accumulated Amortization 15 Accounts Payable 16 Notes Payable (short-tem) 17 Salanies \& Wages Payable 18 Interest Payable 19 Income Taxes Payable \begin{tabular}{ll} 20 & Defemed Revenue \\ \hline 21 & Common Stock \\ \hline 22 & Retained Eamings \\ \hline 23 & Dividends Declared \end{tabular} 24 Service Revenue 2625 Depreciation Expense 27 Salaries \& Wages Expense 28 Supplies Expense 29 Interest Expense 332021 Transactions (in thousands of dollars): 34 a. Borrowed cash on six-month note 15 4 \begin{tabular}{|l|l} \hline 5 & Requirement 1: \\ \hline 6 & \\ \hline 7 & \\ \hline 8 & \\ \hline 9 & \\ \hline 10 & Bank Statement \\ \hline 11 & Ending balance per bank \\ 12 & statement \\ 13 & Additions: \\ \hline 14 & \end{tabular} KMaxx COMPANY Bank Reconciliation At April 30 \begin{tabular}{l|l} \hline 15 & \\ \hline 16 & Deductions: \\ \hline 17 & \\ \hline 18 & \\ \hline 19 & \\ \hline 20 & Upto-date cash balance \\ \hline 21 & \end{tabular} Company's Books Deductions: 23 21 Requirement 2: Correct cash baiance 24 25 26 Additions: Debit Credit Requilement 3: Cash account balances after adustment Balance in regular cash account Requirement 4: KMaxx COMPANY Balance Sheet (April 30) Curent Assets: Cash KMaxx COMPANY Bank Statement April 30 Problem A 5.2 May 31 5 6 \begin{tabular}{|lr|} \hline May 1 Batance & \multicolumn{2}{c}{+ Cash (A) } \\ May 1 & 18,800 \\ May 7 & 8,000 \\ May 29 & 10,000 \\ & 6,000 \\ \hline \multicolumn{3}{|c|}{$} & \\ \hline \end{tabular} Other Information: Deposits in transit from April Deposits in transit at end of May 20 ServiceChg.28014,5406014,48019,44014,480 30 30 Deposits in transit from April 32 Yes 33 Requirement 1: Effect on Reader's Corner's accounts New Books, Inc. - Wholesale merchandiser Reader's Comer - Retall merchandiser New Books' terms to Reader's Comer - n/30. Transactions during the year ended August 31: a. Selling price of merchandise sold to Reader's comer by New Bool Cost of merchandise to New Books. b. Allowance granted to Reader's Comer for wrong merchandise. Reader's Comer also retumed some books New Book's cost of books retumed $$550,000415,000 $$$10,0003,5002,000 c. Amount paid by Reader's Comer three days after sale to settle account in full. 7 Class: Skills Development 6-6 Insert Income Statement A5 Skills Development 66 NORTHLAND PHYSICAL THERAPY Trial Balance January 1,2021 11 Equipment 12 Accumulated Depreciation 13 Software 14 Accumulated Amortization 15 Accounts Payable 16 Notes Payable (short-tem) 17 Salanies \& Wages Payable 18 Interest Payable 19 Income Taxes Payable \begin{tabular}{ll} 20 & Defemed Revenue \\ \hline 21 & Common Stock \\ \hline 22 & Retained Eamings \\ \hline 23 & Dividends Declared \end{tabular} 24 Service Revenue 2625 Depreciation Expense 27 Salaries \& Wages Expense 28 Supplies Expense 29 Interest Expense 332021 Transactions (in thousands of dollars): 34 a. Borrowed cash on six-month note 15 4 \begin{tabular}{|l|l} \hline 5 & Requirement 1: \\ \hline 6 & \\ \hline 7 & \\ \hline 8 & \\ \hline 9 & \\ \hline 10 & Bank Statement \\ \hline 11 & Ending balance per bank \\ 12 & statement \\ 13 & Additions: \\ \hline 14 & \end{tabular} KMaxx COMPANY Bank Reconciliation At April 30 \begin{tabular}{l|l} \hline 15 & \\ \hline 16 & Deductions: \\ \hline 17 & \\ \hline 18 & \\ \hline 19 & \\ \hline 20 & Upto-date cash balance \\ \hline 21 & \end{tabular} Company's Books Deductions: 23 21 Requirement 2: Correct cash baiance 24 25 26 Additions: Debit Credit Requilement 3: Cash account balances after adustment Balance in regular cash account Requirement 4: KMaxx COMPANY Balance Sheet (April 30) Curent Assets: Cash KMaxx COMPANY Bank Statement April 30 Problem A 5.2 May 31 5 6 \begin{tabular}{|lr|} \hline May 1 Batance & \multicolumn{2}{c}{+ Cash (A) } \\ May 1 & 18,800 \\ May 7 & 8,000 \\ May 29 & 10,000 \\ & 6,000 \\ \hline \multicolumn{3}{|c|}{$} & \\ \hline \end{tabular} Other Information: Deposits in transit from April Deposits in transit at end of May 20 ServiceChg.28014,5406014,48019,44014,480 30 30 Deposits in transit from April 32 Yes 33 Requirement 1: Effect on Reader's Corner's accounts New Books, Inc. - Wholesale merchandiser Reader's Comer - Retall merchandiser New Books' terms to Reader's Comer - n/30. Transactions during the year ended August 31: a. Selling price of merchandise sold to Reader's comer by New Bool Cost of merchandise to New Books. b. Allowance granted to Reader's Comer for wrong merchandise. Reader's Comer also retumed some books New Book's cost of books retumed $$550,000415,000 $$$10,0003,5002,000 c. Amount paid by Reader's Comer three days after sale to settle account in full. 7 Class: Skills Development 6-6 Insert Income Statement A5 Skills Development 66
