You are reporting for your client for the One Month period September 30, 2020. Prepare a worksheet.

The company started the month with Cash of $22,305; Equipment (5 year property) of $40,000; Accumulated Depreciation $4,000 (40,000/5/12 = 667 month); Accounts Payable $4,335, Capital $53970.

Sales to customers on account $55,375

Customers paid $12,000 on their accounts

Company purchased 1 year of Supplies for $12,000 cash

Company has no Accts Payable at month end.

They reduced balance to zero by paying cash.

Company prepaid the annual insurance premium of $12,000

The owner C Mason had $5,500 of draw

The company incurred and paid cash for the following expenses Rent $3500, Repairs $150, Wages $3,000, Travel expenses $4200, Utilities $150, Miscellaneous Expenses $750.

1. The last week of payroll was unpaid at September 30.
2. Accrue payroll and the related expenses (FICA & MediCare FICA only) of the company
3. Time and one half is paid after 40 hours.

Employee	Hourly Rate	Hours Worked	Fed Inc Tax Withheld
Mary	22.50	46	250
Jim	15.00	42	175
Hank	35.00	40	1205
Joe	12.00	62	100
Cindy	15.00	45	125