Question

The adjusted trial balances of LSC, Inc., at March 31, 2012, and March 31, 2013, include these amounts:


Analysis of the accounts at March 31, 2013, reveals these transactions for the past twelve months:
Purchase of supplies........................................................................................... $ 6,500
Cash payments for salaries................................................................................. 49,200
Cash receipts in advance for service revenue...................................................... 100,000

Requirement
Compute the amount of supplies expense, salaries expense, and service revenue LSC, Inc., will report for the year ended March 31, 2013. Solve by making T-accounts and posting the information to solve for the unknownamounts.


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  • CreatedApril 29, 2014
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