Question

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


Analysis of the accounts at August 31, 2013, reveals these transactions for the past twelve months:
Purchases of supplies........................................................................................... $ 6,500
Cash payments for salaries................................................................................... 59,800
Cash receipts in advance for service revenue........................................................ 66,400

Requirement
Compute the amount of supplies expense, salaries expense, and service revenue XYZ, Inc., will report for the year ended August 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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