As the bookkeeper of Petes Plowing of Fredericton, you have been asked to complete the entire accounting
Question:
Adjustment Data
a. Snow supplies on hand, $400
b. Rent expired, $600 Check Figure Net Income $15,780
c. Amortization on office equipment, $120
d. Amortization on snow equipment,
e. Accrued salaries, $190
Transcribed Image Text:
2012 Jan. 3 Pete invested $7,000 cash and $6,000 worth of snow equip ment in the plowing company. Paid rent in advance for garage space, $2,000. 5 Purchased office equipment on account from Ling Corp. $7,200. 3 6 Purchased snow supplies for $700 cash. 9 Collected $15,000 from plowing local shopping centres 12 Pete Mack withdrew $1,000 from the business for personal use. Plowed North East Co. parking lots, payment not to be received until March, $5,000. Paid salaries to employees, $1,800. Paid Ling Corp. one-half amount owed for office equipment. Advertising bill was received from Bush Co. but will not be paid until March, $900 20 26 27 30 31 Paid telephone bill, $210 (S7,2005y1,440 s 12 mo $100 ($6,0005 y$1,200 12 mo. POTTER CLEANING SERVICE WORKSHEET FOR MONTH ENDED MARCH 31, 2013 Trial Balance Cr Adjusted Trial Balance Income Statement Adjustments Dr. Balance Sheet Cr. Account Titles Dr. Cash Prepaid Insurance Cleaning Supplies 40000 5 2000 4400 27 2000 40000 34000 4400 272000 40000 34000 44 00 27 2000 A) 1 80 00 (B) 10000 Accum. Amortization, Auto Accounts Payable B. Potter, Capital B. Potter, Withdrawals Cleaning Fees Salaries Expense (C) 15000 86000 22400 54000 101000 22 400 54 000 01000 22400 54000 46000 46000 46 8000 4 68000 468000 44000 2 6400 19600 16000 63 0400 6000 160000 26400 19 600 16000 160000 2 64 00 19600 16 000 Advertising Expense Gas Expense 630400 Insurance Expense Cleaning Supplies Expense Amortization Expense, Auto (A) 18000 (B) 10000 (C) 15 000 8000 10000 15000 1 000 10.000 5 000 Accrued Salaries 16000 59000 59000 661400 66140026 5000 6 8000 39 6400 193400 203000 46 8000 468000 396400 396400 (D) 16 000 16000 Net Income 203000 Pete's Plowing Chart of Accounts Assets 111 Cash 112 Accounts Receivable 114 Prepaid Rent 115 Snow Supplies 121 Office Equipment 122 Accumulated Amortization, Owner's Equity 311 Pete Mack, Capital 312 Pete Mack, Withdrawals 313 Income Summary Revenue 411 Plowing Fees Office Equipment 123 Snow Equipment 124 Accumulated Amortization, Expenses 511 Salaries Expense 512 Advertising Expense 513 Telephone Expense 514 Rent Expense 515 Snow Supplies Expense 516 Amortization Expense, Snow Equipment Liabilities 211 Accounts Payable 212 Accrued Salaries Office Equipment 517 Amortization Expense, now
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
PETES PLOWING GENERAL JOURNAL PETES PLOWING GENERAL JOURNAL PETES PLOWING GENERAL JOURNAL PETES PLOW...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
Question Posted:
Students also viewed these Accounting questions
-
As the bookkeeper of Parkers Plowing, you have been asked to complete the entire accounting cycle for Parker from the following information. 201X Jan. 1 Parker invested $14,000 cash and $9,000 worth...
-
As the bookkeeper of Pat's Plowing, you have been asked to complete the entire accounting cycle for Pat from the following information. 201X Jan. 1 Pat invested $16,000 cash and $10,200 worth of snow...
-
From the following transactions as well as additional data, complete the entire accounting cycle for Petes Plowing of Fredericton Adjustment Data a. Snow supplies on hand, $200 b. Rent expired, $600...
-
The administrator of Hope Hospital has been asked to perform an activity analysis of the emergency room (ER). The ER activities include cost of quality and other patient care activities. The lab...
-
Young children in the United States are exposed to an average of 4 hours of background television per day (CNN website, November 13, 2012). Having the television on in the background while children...
-
Deandra takes two 250-mg chewable calcium tablets each day. a) How many milligrams of calcium will Deandra take in a week? b) How many grams of calcium will Deandra take in a week?
-
Air vessels in reciprocating pump are used to (a) smoothen out flow (b) increase pump efficiency (c) increase pump head (d) reduce acceleration head
-
In December 2010, Gomez Companys manager estimated next years total direct labor cost assuming 50 persons working an average of 2,000 hours each at an average wage rate of $15 per hour. The manager...
-
22.Many nuclides with atomic numbers greater than 83 decay by processes such as electron emission. Explain the observation that the emissions from these unstable nuclides also normally include...
-
The Bender Construction Co. is involved in constructing municipal buildings and other structures that are used primarily by city and state municipalities. This requires developing legal documents,...
-
As the bookkeeper for Potter Cleaning Service, a. From the trial balance columns of the worksheet on page 221, enter the beginning balance of each account before adjustments in your working papers....
-
To: Mtt Kamimsk From: Abbey Ellen Re: Accounting Needs Please prepare ASAP From the following information (attached) (1) a worksheet, along with (2) jornalized adjusting and closing entries....
-
Nine longshoremen, all of whom were members of Local 13 of the International Longshoremens and Warehousemens Union, found that they were having difficulty getting jobs. The problem seemed to be that...
-
Samantha opened a roth IRA on April 4 2019, she designated her initial contribution to be for 2019. She has made regular deposits and would like to know the earliest date she can withdraw some of her...
-
3. A crate of mass 45kg was pushed from rest by a horizontal force of 120N on a horizontal plane from point A to point B. The distance between A and B was 80m. The friction coefficient between the...
-
A negatively charged Teflon rod is brought near a neutral conductor. Does the rod exert a net force on the conductor? If so, in what direction is the force on the conductor? Select One of the...
-
You land a great job at GE. Your starting pay was $87,000. With raises and a promotion, six years later, your pay is $117,438. Use this information to compute the values represented by A and B in the...
-
3. A manufacturing company has the production capacity of 10,000 units per annum. The expenses for production of 5,000 (50%) units for a period are given as follows: Prepare levels P Particulars...
-
Use the result of Exercise 48 to write an equation of the line in general form. Data from in Exercise 48 Show that the line with intercepts (a, 0) and (0, b) has the following equation. x-intercept:...
-
Find the work done in pumping all the oil (density S = 50 pounds per cubic foot) over the edge of a cylindrical tank that stands on one of its bases. Assume that the radius of the base is 4 feet, the...
-
Julies Toy Shop completed the following merchandise transactions in the month of April: 201X Apr. 2 Purchased merchandise on account from Beech Suppliers, $4,000; terms 1/10, n/30. 4 Sold merchandise...
-
The following is an updated schedule of accounts payable as of January 31, 201X. Schedule of Accounts Payable Office Depot ...........$ 50 System Design Furniture .......1,400 Pac Bell ................
-
Jill Blue opened Food.com, a wholesale grocery and pizza company. Since Jill Blue only sells to retailers, she does not have to charge sales tax to her customers. Jill Blue uses a sales journal for...
-
1. Mention five key organizational characteristics that the Cll research team identified for organizations with effective quality management systems. provide brief discussion of each and how it...
-
When a metal was exposed to photons at a frequency of 1.46 1015 s1, electrons were emitted with a maximum kinetic energy 3.60 10-19 J. G ? Calculate the work function, , of this metal. J/photon What...
-
No. 101 Debit Cash $ 2,400 Question 2 (10 pts) On November 1, 2024, the account balances of Schilling Equipment Repair were as follows. Accumulated Depreciation-Equipment A Clipboard Font Alignment...
Study smarter with the SolutionInn App