Question
The adjusted trial balance for Turnquist Company is shown below. TURNQUIST COMPANY Trial Balance August 31, 2017 Before Adjustment After Adjustment Dr. Cr. Dr. Cr.
The adjusted trial balance for Turnquist Company is shown below.
TURNQUIST COMPANY Trial Balance August 31, 2017 | ||||||||
Before Adjustment | After Adjustment | |||||||
Dr. | Cr. | Dr. | Cr. | |||||
Cash | $10,400 | $10,400 | ||||||
Accounts Receivable | 8,800 | 9,600 | ||||||
Supplies | 2,300 | 700 | ||||||
Prepaid Insurance | 3,900 | 2,600 | ||||||
Equipment | 12,300 | 12,300 | ||||||
Accumulated Depreciation-Equipment | $ 3,500 | $ 4,300 | ||||||
Accounts Payable | 5,800 | 5,800 | ||||||
Salaries and Wages Payable | 0 | 1,200 | ||||||
Unearned Rent Revenue | 1,400 | 800 | ||||||
Owners Capital | 14,300 | 14,300 | ||||||
Service Revenue | 34,200 | 35,000 | ||||||
Rent Revenue | 10,800 | 11,400 | ||||||
Salaries and Wages Expense | 17,100 | 18,300 | ||||||
Supplies Expense | 0 | 1,600 | ||||||
Rent Expense | 15,200 | 15,200 | ||||||
Insurance Expense | 0 | 1,300 | ||||||
Depreciation Expense | 0 | 800 | ||||||
$70,000 | $70,000 | $72,800 | $72,800 |
Prepare the balance sheet at August 31. (List Assets in order of liquidity.)
TURNQUIST COMPANY Balance Sheet For the Year Ended August 31, 2017 For the Month Ended August 31, 2017 August 31, 2017 Assets $ $ Add Less : Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owners Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owners Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owners Equity $ Liabilities and Owners Equity Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owners Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owners Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owners Equity $ Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owners Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owners Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owners Equity Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owners Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owners Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owners Equity Current Assets Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Revenues Owners Equity Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Owners Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Revenues Total Owners Equity
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