Question;AC2760;Week 3;Assignment;Read the;following scenario, and complete the form on the following worksheet;Jacksonville Financial Services Co., which specializes in;appliance repair services, is owned and operated by Cindy Latty. Jacksonville Financial Services Co.'s;accounting clerk prepared the unadjusted trial balance at December 31, 2011;shown below.;Jacksonville Financial Services Co.;Unadjusted Trial Balance;December 31, 2011;Debit;Credit;Balances;Balances;Cash;10,200;Accounts;Receivable;34,750;Prepaid;Insurance;6,000;Supplies;1,725;Land;50,000;Building;80,750;Accumulated;Depreciation -- Building;37,850;Equipment;45,000;Accumulated;Depreciation -- Equipment;17,650;Accounts;Payable;3,750;Unearned;Rent;3,600;Capital;Stock;25,000;Retained;Earnings;78,550;Dividends;8,000;Fees Earned;1,58,600;Salaries and;Wages Expense;56,850;Utilities;Expense;14,100;Advertising;Expense;7,500;Repairs;Expense;6,100;Miscellaneous;Expense;4,025;3,25,000;3,25,000;The data;needed to determine year end adustments are as follows;(a);Depreciation of building for the;year, $2,100.;(b);Depreciation of equipment for the;year, $3000.;(c);Accrued salaries and wages at;December 31, $800.;(d);Unexpired insurance at December 31;$1,500.;(e);Fees earned but unbilled on December;31, $2,150.;(f);Supplies on hand at December 31;$600.;(g);Rent unearned at December 31;$1,500.;Please use;the drop-down list (right of the cell) to enter the account description box;on the worksheet.;To Do;Using the;form provided on the next worksheet, journalize the adjusting entries. Add additional accounts as needed.
Paper#37306 | Written in 18-Jul-2015Price : $22