Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The account balances appearing on the trial balance (below) were taken from the general ledger of Irick's Copy Shop at September 30. Additional information for

image text in transcribed

image text in transcribedimage text in transcribedimage text in transcribed

The account balances appearing on the trial balance (below) were taken from the general ledger of Irick's Copy Shop at September 30. Additional information for the month of September which has not yet been recorded in the accounts is as follows: (a) A physical count of supplies indicates $300 on hand at September 30. (b) The amount of insurance that expired in the month of September was $200. (c) Depreciation on equipment for September was $400. (d) Rent owed on the copy shop for the month of September was $600 but will not be paid until October. Using the above information, complete the worksheet for Irick's Copy Shop for the month of September. \begin{tabular}{lclcc} & Trial Balance & & \multicolumn{2}{c}{ Adjustments } \\ \cline { 5 - 5 } \cline { 4 - 5 } Account Titles & Debit Credit & Debit & Credit \\ Cash & 3,000 & & \end{tabular} Supplies 1,100 Prepaid Insurance 2,200 Equipment 24,000 Accumulated Depreciation-Equipment 4,500 Accounts Payable 2,400 Notes Payable 4,000 Common Stock 10,000 Retained Earnings 5,300 Dividends 2,400 Service Revenue 6,900 Utilities Expense Totals 33,10033,100 Supplies Expense Insurance Expense Depreciation Expense Rent Expense Rent Payable Totals Net Income Totals Balance Sheet Debit Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting Volume 1

Authors: Kin Lo, George Fisher

4th Edition

013523610X, 9780135236109

More Books

Students also viewed these Accounting questions

Question

Briefly describe the five principles of succession planning.

Answered: 1 week ago

Question

What are the disadvantages of succession planning?

Answered: 1 week ago