Question
Wildhorse Co. prepares monthly financial statements from a worksheet. Selected portions of the January worksheet showed the following data. WILDHORSE CO. Worksheet (PARTIAL) For The
Wildhorse Co. prepares monthly financial statements from a worksheet. Selected portions of the January worksheet showed the following data.
WILDHORSE CO. Worksheet (PARTIAL) For The Month Ended January 31, 2020 | ||||||||||||
Trial Balance | Adjustments | Adjusted Trial Balance | ||||||||||
Accounts Title | Debit | Credit | Debit | Credit | Debit | Credit | ||||||
Supplies | 3,580 | 1,420 | 2,160 | |||||||||
Accumulated DepreciationEquipment | 7,197 | 267 | 7,464 | |||||||||
Interest Payable | 98 | 48 | 146 | |||||||||
Supplies Expense | 1,420 | 1,420 | ||||||||||
Depreciation Expense | 267 | 267 | ||||||||||
Interest Expense | 48 | 48 |
During February, no events occurred that affected these accounts. But at the end of February, the following information was available.
(a) | Supplies on hand | $711 | ||
(b) | Monthly depreciation | $267 | ||
(c) | Accrued interest | $48 |
Reproduce the data that would appear in the February worksheet.
WILDHORSE CO. Worksheet (Partial) For Month Ended February 28, 2020 | ||||||||||||||||||||
Trial Balance | Adjustments | Adjusted Trial Balance | Income Statement | Balance Sheet | ||||||||||||||||
Accounts Titles | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | ||||||||||
Supplies | ||||||||||||||||||||
Accumulated DepreciationEquipment | ||||||||||||||||||||
Interest Payable | ||||||||||||||||||||
Supplies Expense | ||||||||||||||||||||
Depreciation Expense | ||||||||||||||||||||
Interest Expense |
Indicate the amounts that would be shown in the February income statement.
Amount shown in Income Statement | |||||
(a) | Supplies expense | $ | |||
(b) | Depreciation expense | $ | |||
(c) | Interest expense | $ |
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