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Problem 8-1 Entering Account Balances on the Work Sheet The following accounts appear on the work sheet for Lee's Bike Shop. Store Equipment Rent Expense Service Fees Revenue Acets. Pay--Rubino Supply Scott Lee, Capital Advertising Expense Accts. Rec.John Langer Scott Lee, Withdrawals Maintenance Expense Office Supplies Classify each account and select an "X" to indicate whether the account balance is entered in the Debitor the Credit column of the Trial Balance section. The first account is completed as an example, Trial Balance Debit Credit Classification Asset X Account Name Store Equipment Rent Expense Service Fees Revenue Accounts Payable Rubino Supply Scott Lee, Capital Advertising Expense Accounts Receivable-John Langer Scott Lee, Withdrawals Maintenance Expense Office Supplies Based on the invoice shown here, answer the following questions. Hailey Office Supply 2763 Tu Mere Richard TXT500 Gamot Electrical Co. TO 15636 Lone Star Highway Plano, TX 75074 INVOICE NO. ZZO DATE June 3.20 ORDER NO PODE SHTED BY Tek TERSES Net 30 QTY 2 1 2 4 4 ITEM Ring Binders, 37546 Bond Paper 27361 Rotary Cards, 62744 Fine-Tip Markers, 28733 File Folder, Box 36206 UNIT PC 52.94 5.88 175 84 623 TOTAL 558 5.89 3.50 3.36 24.22 323.49 2.7 $45.86 RECO 15.20- Sales Tax Total 1. Which company shipped the supplies? Hailey Office Supply Garmot Electrical Co. Lone Star Ring Binders 2. Which company ordered the supplies? OOOO PO304 Garmot Electrical Co. Rotary Cards Halley office Supply 3. On what date were the supplies received? June 15, 20- June 3, 20- June 20, 20- June 30, 20- 4. What does one box of file folders cost? Cost of One Box 5. How many ring binders were ordered? Number of Ring Binders 6. What is the invoice number? Invoice Number The following accounts have balances and appear in the Account Name section of the work sheet for Lee's Bike Shop. Select an "Xin the column where the account balance is extended. The first account has been completed as an example, Balance Sheet Income Statement Debit Credit Debit Credit X Account Name Store Equipment Rent Expense Service Fees Revenue Accounts Payable--Rubino Supply Scott Lee, Capital Advertising Expense Accounts Receivable-John Langer Scott Lee, Withdrawals Maintenance Expense Office Supplies 1. The general ledger balances for Wildemoss Rentals have been entered in the Trial Balance columns of the work sheet below. Extend each account balance to the appropriate column in the Income Statement or Balance Sheet section Calculate and enter the net income or net loss in the appropriate columns Wilderness Rentals Work Shoot For the Month Ended May 31, 20- Trial Balance Income Statement Credit Dobit Credit 5,814 717 Balance Sheet Debit Credit 590 847 4,380 6,130 Account Name Cash in Bank Aucts. Rec-Helen Katz Acct. Rec-Polk and Co. Office Supplies Office Equipment Camping Equipment Accts. Pay Adventure Equip, Inc. Acets. Pay Digital Tech Comp. Acts Pay. Greg Mollaro Ronald Hicks, Capital Ronald Hicks, Withdrawals Income Summary Equipment Rental Revenue Advertising Expense Maintenance Expense Rent Expense Utilities Expense 1.680 3,554 635 12,760 1.200 9.716 1,940 1,083 3,500 2,164 28, 345 28,345 2. Click the boxes to identify the permanent accounts on the work sheet that have normal debit balances. Cash in Bank 2 Accts. Rec.-Helen Katz 2 Accts. Rec-Polk and Co. Office Supplies Office Equipment 21 Camping Equipment Rent Expense 31 Utilities Expense