Solution-Classified balance sheet in account

Classified balance sheet in account

Assignment Help Cost Accounting

Reference no: EM13545564

Preparing a worksheet and the financial statements

The trial balance and adjustment data of Myla's Motors at November 30, 2012, follow:

MYLA'S MOTORS Trial Balance November 30, 2012
	Balance
Account	Debit	Credit
Cash	$ 4,300
Accounts receivable	26,600
Supplies	500
Prepaid insurance	1,700
Equipment	53,500
Accumulated depreciation		$36,400
Accounts payable		13,400
Wages payable
Unearned service		8,000
Myla, capital		19,700
Myla, drawing	3,800
Service revenue		16,000
Depreciation expense
Wage expense	1,600
Insurance expense
Utilities expense	1,500
Supplies expense
Total	$93,500	$93,500

Additional data at November 30, 2012:

Depreciation on equipment, $1,100.
Accrued wage expense, $600.
Supplies on hand, $200.
Prepaid insurance expired during November, $200.
Unearned service revenue earned during November, $4,000.
Accrued service revenue, $800.

Requirements

1. Complete Myla's worksheet for November. Key adjusting entries by letter.

2. Prepare the income statement, the statement of owner's equity, and the classified balance sheet in account form for the month ended November 30, 2012.

Reference no: EM13545564

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Classified balance sheet in account

Reference no: EM13545564

Reference no: EM13545564

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