accounting worksheet

Project Description:

accounts payable 86,000
accounts receivable 92,800
advertising expense 8,000
accumulated depreciated- bldg 21,000
allowance for bad debts 1,700
building 210,000
common stock 300,000
cash 30,500
dividends declared 8,000
freight in 7,000
insurance expense 1,400
interest expense 3,530
interest revenue 890
inventory (1/1/96) 69,900
land 52,000
long term investments 8,100
mortagage payable 29,000
note payable, short term 16,000
office expense 19,200
purchases 347,420
purchase discount 8,100
real estate tax expense 12,870
retained earnings 9,130
salary 50,200
sales 490,000
sales discount 16,500
sales returns 9,600
selling expense 12,500
supplies expense 2,300

adjustments on december 31 are required
1. ending inventory 90,610
2. the allowance for doubtful accounts is to be increased to a balance of 3,500.
3. the building is depreciated on a straight-line basis based on a 20 year useful life. (no salvage value, record one full year.

4. accrued salaries payable are 4,050
5. supplies on hand are 780
6. prepaid insurance should be 860
7. unearned sales revenue should have a balance of 800.
8. accrued real estate taxes are 700.
9. accrued interest on the mortgage is 160.
10. income tax expense is estimated to be 3,850.
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Price Type: Negotiable

Completed
Total Proposals: 1
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