Question: Leno Co. prepares monthly financial statements from a worksheet. Selected portions of the January worksheet showed the following data. During February no events occurred that
Leno Co. prepares monthly financial statements from a worksheet. Selected portions of the January worksheet showed the following data.
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During February no events occurred that affected these accounts, but at the end of February the following information was available.
(a) Supplies on hand ......... $2,150
(b) Monthly depreciation ....... $2,100
(c) Accrued interest ......... $ 100
Instructions
Reproduce the data that would appear in the February worksheet, and indicate the amounts that would be shown in the February incomestatement.
LENO CO Worksheet (PARTIAL) For The Month Ended January 31, 2014 0 Trial Balance Debit 5,200 Adjustments Adjusted Trial Balance Account Title Credit Debit Credit CreditDebit (a) 1,500 3,700 Supplies Accumulated Depreciation- 12,610 600 (b) 2,100 (c) 100 14,710 700 Interest Payable Supplies Expense Depreciation Expense Interest Expense (a) 1,500 (b) 2,100 (c) 100 1,500 2,100 100
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