Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Trial Balance The trial balance and information for year-end adjustments for IB Hungry Food Company are as follows: Prepare the necessary year-end adjustments on the

image text in transcribedTrial Balance

The trial balance and information for year-end adjustments for IB Hungry Food Company are as follows: Prepare the necessary year-end adjustments on the six-column worksheet provided and identify each adjustments by letter. IB Hungry Food Company Worksheet October 31, 2019 Trial Balance Debit Credit Adjustments Debit Credit Adjusted Trial Balance Debit Credit 50.000 8,500 Account Title Cash Accounts Receivable Supplies Prepaid Rent Delivery Van 3.700 18,000 38.000 Accounts Payable 42.000 140,200 27,000 67,500 Rich, Capital Rich, Drawing Food Prep Fees Wages Expense Insurance Expense Supplies Expense Utility Expense 42,000 54,000 B26 8,500 249,700 249,7001 a) The balance of supplies remaining on hand is $2,950 at October 31, 2019. b) Unused rent as of year-end is $7,100. c) The delivery van was purchased September 1, 2019, Cost $38,000, Salvage $2,000, and Life is 4 Years. Show depreciation of van

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions