PT A Partial Worksheet For the year ended December 31, 2021 (in USD) Adjustment Dr Cr Adjusted Trial Balance Dr Cr Trial Balance Dr Cr 5.600 7.360 2.000 7.240 4.000 32.000 12.000 1.600 160 6.080 4.800 5.660 Account Name 1 Cash 2 Accounts Receivable 3 Notes Receivable 1 Interest Receivable 5 Inventory 6 Land 7 Buildings 8 Equipment 9 Patents 10 Allowance for Doubtful Accounts 11 Accumulated Depreciation --Buildings 12 Accumulated Depreciation--Equipment 13 Accounts Payable 14 Income Taxes Payable 15 Sales Tax Payable 16 Uneamed Rent Revenue 17 Notes Payable (due in 2022) 18 Interest Payable 19 Notes Payable (due after 2022) 20 Share Capital--OS 21 Retained Earnings 22 Cash Dividend 23 Sales Revenue 24 Rent Revenue 25 Interest Revenue 26 Gain on disposal of plant assets 27 Bad Debt Expense 28 COGS 29 Depreciation Expense 30 Income Tax Expense 31 Interest Expenso 32 Other Operating Expense 33 Amortization Expense 34 Salaries Expense 1.200 2.200 7.000 10.000 14.860 2.400 182.600 126.000 12.360 22.000 Total 234.560 234.560 3 4 1 Prepare adjusting entries for transactions No. 1-12. 1 On April 1, 2021, PT A purchased equipment for $2,560 plus sales taxes of 10%. All paid in cash. 2 On July 1, 2021, PT A sold for S700 equipment which originally cost $1,000. Accumulated depreciation on this equipment at January 1, 2021, was $360: 2021 depreciation prior to the sale of the equipment was $90. The equipment owned prior to this year (excluding the equipment sold on July 1, 2021), is being depreciated using the straight-line method over 5 years. The residual vale is 10% of cost. The equipment purchased on April 1, 2021, is being depreciated using the straight-line method over 5 years, with a residual value of $256. The building is being depreciated using the double-declining balance method over 20 years. It was acquired on January 1, 2019 with estimated residual value of $4,000. The patent was acquired on January 1, 2021 and has a useful life of 10 years from that date. 7 The unearned rent revenue was received on December 1, 2021 for 4 months rent. Both short-tenu and long-term notes payable are dated January 1, 2021 and carry a 8% interest rate. All interest is payable in the next 12 months. Income tax expense was $3,400. It was unpaid at December 31, 2021. 10 The note receivable is a one-year, 9% note, dated April 1, 2021. No interest has been recorded. On December 31, 2021. PT A sold on account $1,880 of inventory that cost $1.320. The sales price excluding 11 sales tax of 10%. 5 6 8 9 a
