Prob 4-4A

Lakota Freight Co. UNADJUSTED TRIAL BALANCE March 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 12.000.00 12 Supplies 30,000.00 5 Prepaid Insurance 3.600.00 14 Equipment $ Accumulated Depreciation-Equipment 110,000.00 25,000.00 6 Trucks 60.000.00 2 Accumulated Depreciation Trucks 15,000.00 $Accounts Payable 4,000.00 9 Common Stock 26,000.00 10 Retained Earnings 70,000.00 1 Dividends 15,000.00 Service Revenue 160,000.00 1 Wages Expense 45,000.00 14 Rent Expense 10.600.00 9.000.00 15 Truck Expense 15 Miscellaneous Expense 4,800.00 Totals 300.000,00 300,000.00 The data needed to determine year-end adjustments are as follows: A. Supplies on hand at March 31 are $7,500. B. Insurance premiums expired during year are $1,800. C. Depreciation of equipment during year is $8,350. D. Depreciation of trucks during year is $6,200. E. Wages accrued but not paid at March 31 are $600 norriro Lakota Freight Co. General Ledger ASSETS REVENUE 11 Cash 41 Service Revenue 13 Supplies EXPENSES 14 Prepaid Insurance 16 Equipment 51 Wages Expense 52 Supplies Expense 17 Accumulated Depreciation- Equipment 53 Rent Expense 18 Trucks 54 Truck Expense 19 Accumulated Depreciation-Trucks LIABILITIES 55 Depreciation Expense- Equipment 56 Depreciation Expense-Trucks 57 Insurance Expense 59 Miscellaneous Expense 21 Accounts Payable 22 Wages Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends 34 Income Summary 3.a. Journaize the adjusting entries on Page 26 or the purnoi Acusting entives are recorded on March 31, 3.b. Add the propriate posting reference to the journal How does sreding work? PAGE 26 JOURNAL Score: 50/136 ACCOUNTING EQUATION DATE DESCRIPTION POST RER DEBIT CREDE ASSETS LIABILITIES EQUITY 1 Adjusting Entries et 3 4 1 10 y W susting entries financial statements, and desinent optional present Chart Accounts and Journal de int Named Earnings Jamal OL 200 ACTION Kance Short DELL P K Instructions Chart of Accounts Labels and Amount Descriptions Journal Ledger Adjusted Trial Balanc Balance Sheet Balance Sheet (Label) 3 Assets 2 (Label) 3 5 5 Label 1 10 12 15 14 15 16 Liabilities 10 19 13 14 15 16 Liabilities 17 Label) 18 19 20 21 Stockholders' Equity 22 23 24 25