Solution-Make a work sheet for printer repair company

Make a work sheet for printer repair company

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Reference no: EM132500623

The Trial Balance of the Printer Repair Company at December 31, 2018, contains the following account balances listed in alphabetical order to increase your skill in sorting amounts to the proper work sheet columns.

Question 1: Using these account balances and the following additional information, prepare a work sheet for Printer Repair Company. Arrange the accounts in their approximate usual order.

PRINTER REPAIR COMPANY
Trial Balance Account Balances
December 31, 2018

Accounts Payable	$ 41,000
Accounts Receivable	92,000
	25,000
Accumulated Depreciation-Buildings	25,000
	9,000
Accumulated Depreciation-Equipment	9,000
Buildings	150,000
Capital Stock	65,000
Cash	41,000
Equipment	45,000
Prepaid Insurance	3,600
Retained Earnings, January 1, 2018	4,800
Salaries Expense	96,000
Service Revenue	290,000
Supplies on Hand	4,000
Utilities Expense	3,200

Supplies on hand at December 31, 2018, have a cost of $1,800.
The balance in the Prepaid Insurance account represents the cost of a two-year insurance policy covering the period from January 1, 2018, through December 31, 2019.
The estimated lives of depreciable assets are buildings, 30 years, and equipment, 15 years. No salvage values are anticipated.

	ACCOINIt 11tles	Trial Bake		Adjustments		Adhi ted Trial Balance		butome Statement		Statement of Retained Earrlins6		Oa lance sheet
	ACCOINIt 11tles	Debit	Credit	Debit	Credit	Debit	Debt	Da	Credt	Debit	Credit	Debit	Credit
100	Crib	8.290				8.250						8.150
103	/courts Pea:sable	5200		9) ²,⁰00		6,200						6,200
107	Sales on Bald	1,400			3/ 500	SOO						900
108	Pfewad ksursoce	2,403			1) 200	2200						2200
112	Prepaid RCM	1200			:2) 903	800						800
150	Ducts	40,000				40.000						40,000
200	ACCOuritS Partble		730				730						730
216	Unesned Senfce Fos		4,500	(5) 1.500			3000						3.000
300	Capra' Stock		50,010				50,000						50,000
310	Ada IN77 LYNIVS, 1211/18		-0-				-0-				-0-
320	Dmeenos	3,003				3,000				3,000
900	Serve				(5) 1500
	Resenue		10.702		In 1,000		13,200		13,200
SOS	Abotists0 &c se	50				50		50
506	Gas ard GI Expense	680				680		680
507	Salaries Expense	3,600		(8) 180		3,780		3.780
511	Otitis Expense	150				150		150
		65 930	65 933
512	Insufaxe Expense			(1) 200		200		200
515	Rent Expense			(2) 400		400		400
518	Supped Excense			(3) 500		500		500
521	Depeciatim Ewer
	Trudts			(4) 750		793
151	Accumutstoi Dcpreciamn-
	YruOm				(4) 75C		7%						75C
121	Interest Receivable			(6) 600		603
918	Infos% Rennue				(6) 60C		600		60C
206	Sabine. isamme				AU UK		at						19C
				5,130	5,1%	68,460	ewe	6,510	13,800
	Net Inca							7,29C			7,29C
								13,80C	13,800	3,000	7.2%
	Retanco Earninos, 12/31(18									4,2%			4,2%
										72%	7 9C	59950	58.95C

Adjustment Explanations:
(1) To record insurance expenses for December
(2) To record rent expenses for December
(3) To record npplies expenses for Decanter
(4) To record depreciation expenses for December
(5) To transfer fees for service provided in December from the liability account to the revenue account
(6) To record one month's interest revenue
(7) To record unbilled training services performed in December
(8) To acaue one day's salaries that here earned but we unpaid

Reference no: EM132500623

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Make a work sheet for printer repair company

Reference no: EM132500623

Reference no: EM132500623

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