Reference no: EM132459546
The unadjusted trial balance of Lakota Freight Co. at March 31, 20Y4, the end of the year, follows:
- Lakota Freight Co.
- UNADJUSTED TRIAL BALANCE
- March 31, 20Y4
- ACCOUNT TITLEDEBITCREDIT1
1) Cash 12,000.00
2) Supplies 30,000.00
3) Prepaid Insurance 6,000.00
4) Equipment 100,000.00
5) Accumulated Depreciation-Equipment 25,000.00
6) Trucks 50,000.00
7) Accumulated Depreciation-Trucks 15,000.00
8) Accounts Payable 5,000.00
9) Common Stock 28,000.00
10) Retained Earnings 49,900.00
11) Dividends 15,000.00
12) Service Revenue 160,000.00
13) Wages Expense 46,000.00
14) Rent Expense 10,100.00
15) Truck Expense 9,000.00
16) Miscellaneous Expense 4,800.00
17) Totals 282,900.00
The data needed to determine year-end adjustments are as follows:
Problem A. Supplies on hand at March 31 are $7,500
Problem B. Insurance premiums expired during year are $3,000.
Problem C. Depreciation of equipment during year is $8,450.
Problem D. Depreciation of trucks during year is $6,000.E.Wages accrued but not paid at March 31 are $500
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