The balances of the general ledger accounts of Cycle Tech Bicycles, as of August 31, are listed
Question:
The balances of the general ledger accounts of Cycle Tech Bicycles, as of August 31, are listed below. Also listed is the data needed for the adjustments.
Instructions
In your working papers: Prepare a ten-column work sheet for Cycle Tech Bicycles for the month ended August 31.
Transcribed Image Text:
101 Cash in Bank 115 Accounts Receivable 125 Merchandise Inventory 130 Supplies 135 Prepaid Insurance 140 Store Equipment 145 Office Equipment 201 Accounts Payable 210 Federal Corporate Income Tax Payable 211 Employees' Federal Income Tax Payable 212 Employees' State Income Tax Payable 213 Social Security Tax Payable 214 Medicare Tax Payable 215 Sales Tax Payable 216 Federal Unemployment Tax Payable 217 State Unemployment Tax Payable 301 Capital Stock 305 Retained Earnings 310 Income Summary 401 Sales 405 Sales Discounts 410 Sales Returns and Allowances 501 Purchases 505 Transportation In 510 Purchases Discounts 515 Purchases Returns and Allowances 601 Advertising Expense 605 Bankcard Fees Expense 625 Federal Corporate Income Tax Expense 630 Insurance Expense 645 Maintenance Expense 650 Miscellaneous Expense $ 22,323 1,737 23,654 3,971 1,800 25,395 15,239 11,051 519 142 408 137 1,871 51 263 40,000 14,908 128,231 214 1,289 67,118 1,172 810 322 2,938 185 3,650 2,450 3,929
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