# Question: The first six months of the year have concluded for

The first six months of the year have concluded for Sanchez Computer Center, and Tony wants to make the necessary adjustments to his accounts to prepare accurate financial statements.
Assignment
To prepare these adjustments, use the trial balance in Figure and the following inventory that Tony took at the end of March:
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Supplies
10 dozen 1/4" screws at a cost of \$10 a dozen
5 dozen 1/2" screws at a cost of \$7 a dozen
2 feet of coaxial cable at a cost of \$5 per foot
Merchandise Inventory
A physical inventory taken on March 31 indicated that merchandise inventory was valued at \$300.
Depreciation of Computer Equipment
Computer depreciates at \$33 a month; purchased July 5.
Computer workstations depreciate at \$20 per month; purchased September 17.
Shop benches depreciate at \$25 per month; purchased November 5.
Depreciation of Office Equipment
Office equipment depreciates at \$10 per month; purchased July 17.
Fax machine depreciates at \$10 per month; purchased November 20.
Expiration of Prepaid Rent
Six months’ worth of rent at a rental rate of \$400 per month has expired. The following accounts have been added to the chart of accounts: Merchandise Inventory #1050, and Income Summary #3020.
Remember: If any long-term asset is purchased in the first 15 days of the month, Tony will charge depreciation for the full month. If an asset is purchased later than the 15th, he will not charge depreciation in the month it was purchased.
Complete the 10-column worksheet for the six months ended March 31,201X.
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• CreatedApril 24, 2014
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