The adjusted trial balances of Anderson Plating Services, Inc., at December 31, 2016, and December 31, 2017,
Question:
The adjusted trial balances of Anderson Plating Services, Inc., at December 31, 2016, and December 31, 2017, include these amounts:
Analysis of the accounts at December 31, 2017, reveals these transactions for the past 12 months:
Purchases of supplies .......................................................... $ 4,500
Cash payments for salaries ..................................................... 52,300
Cash receipts in advance for service revenue ................................ 106,400
Requirement
Compute the amount of supplies expense, salaries expense, and service revenue Anderson Plating Services, Inc., will report for the year ended December 31, 2017. Solve by making T-accounts and posting the information to solve for the unknown amounts?
Step by Step Answer: