Reference no: EM13985417
Jackson Martin Sports Medicine Services
Trial Balance
December 31, 20X8
| Account Title |
Account # |
Dr |
Cr |
| Cash |
101 |
$56 000 |
|
| Accounts Receivable |
104 |
14,000 |
|
| Office Supplies |
142 |
8 000 |
|
| Prepaid Insurance |
145 |
12,000 |
|
| Office Equipment |
181 |
162,000 |
|
| Accumulated Depreciation: Office Equipment |
181.1 |
|
|
| Computer Equipment |
187 |
60,000 |
|
| Accumulated Depreciation: Computer Equipment |
187.1 |
|
|
| Accounts Payable |
201 |
|
$30,000 |
| Salaries Payable |
202 |
|
|
| Unearned Client Fees |
219 |
|
25,000 |
| Jackson Martin, Capital |
311 |
|
126,000 |
| Jackson Martin, Withdrawals |
312 |
50,000 |
|
| Client Fees Earned |
401 |
|
400,000 |
| Salaries Expense |
511 |
120,000 |
|
| Rent Expense |
521 |
50,000 |
|
| Office Supplies Expense |
523 |
|
|
| Telephone Expense |
525 |
10,000 |
|
| Utilities Expense |
533 |
39,000 |
|
| Insurance Expense |
535 |
|
|
| Depreciation Expense - Office Equipment |
541 |
|
|
| Depreciation Expense - Computer Equipment |
542 |
|
|
|
|
581,000 |
581,000 |
Information for year-end adjustments:
a) Office supplies on hand at year end amounted to $3,000.
b) The office equipment, which was purchased on January 2, 20X8, is being depreciated over 5 years on the straight-line method of depreciation, down to a residue of $22,000.
c) Computer equipment costing $60,000 with an expected life of three years and no residual value was acquired on April 1, 20X8, and is being depreciated on the straight-line method.
d) A premium of $12,000 for a 1-year insurance policy was paid on September 1, 20X8.
e) Employees earned $3,000 of unpaid and unrecorded salaries as of December 31, 20X8
f) At December 31, 20X8, $12,000 of previously unearned client fees had been earned. Required:
1. Journalize the adjusting entries
2. Prepare the worksheet for the year ended December 31, 20X8
3. Prepare the Income Statement & the Statement of Owners Equity for the year ended December 31, 20X8
4. Prepare the Balance Sheet for Justin Park Legal Services at December 31, 20X8
5. Journalize the closing entries & prepare a post-closing trial balance
|
Geometric distribution and determine the parameter
: Show that, if N and X, X1, X2, . . . are independent random variables, N ∈ Ge(α), and X ∈ Be(β), then Y = X1 + X2 + · · · + XN has a geometric distribution, and determine the parameter.
|
|
A 15.0 µf capacitor has plates with vacuum
: A 15.0 µF capacitor has plates with vacuum between them. Each plate carries a charge of magnitude 1160 µC. A particle with charge -3.00 µC and mass 2.00 ? 10-16kg is fired from the positive plate toward the negative plate with an initial speed of 2.0..
|
|
Problem regarding the number of transmitted signals
: Determine the conditional distribution of the number of registered signals given the number of transmitted signals, that is, compute P (Y (t) = k | X(t) = n) for suitable choices of k and n.
|
|
Moment in nonlinear bridge system
: How can I get moment in nonlinear bridge system? Could you provide an example as well?
|
|
Prepare the balance sheet for justin park legal services
: Prepare the worksheet for the year ended December 31, 20X8 and prepare the Income Statement & the Statement of Owners Equity for the year ended December 31, 20X8
|
|
What is the focal length of the first lens
: One of your lens' can project an image of that candle on that screen when it is a distance D/4 from the screen. When the two lens' are put together, they can project an image of the candle on the screen when the combination is halfway between the ..
|
|
Calculate reading ease score and grade level for each book
: Initialize 3 arrays with the data from the table. Give the arrays descriptive names. Calculate ASL and ASW for each book. Calculate Reading Ease Score and Grade Level for each book. This data must be stored in 2 new arrays
|
|
Problem regarding the poisson process with intensity
: M°ans waits for the bus. The waiting time, T , until a bus comes is U (0, a)- distributed. While he waits he tries to get a ride from cars that pass by according to a Poisson process with intensity λ. The probability of a passing car ..
|
|
What is the potential energy of the block
: What is the potential energy of the block before It Is released relative to the bottom of the circle? What is the kinetic energy and the speed of the block when it reaches the bottom?
|