Question: Letterman AG prepares monthly financial statements from a worksheet. Selected portions of the January worksheet showed the following data. During February, no events occurred that
Letterman AG 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............................¬515
(b) Monthly depreciation.......................¬257
(c) Accrued interest..............................¬ 50
Instructions
Reproduce the data that would appear in the February worksheet and indicate the amounts that would be shown in the February income statement.
Letterman AG Page Layout Home Insert Formulas Data Review View P18 D. Letterman AG Worksheet (PARTIAL) For the Month Ended January 31, 2019 Adjusted Trial Balance Adjustments 6. Trial Balance Account Titles Cr. Cr. Dr. Dr. Dr. Cr. 3,256 Supplies (a) 1,500 1,756 Accumulated Depreciation-Equipment Interest Payable 7,710 (b) 257 7,967 10 (c) 100 50 150 11 Supplies Expense (a) 1,500 1,500 12 Depreciation Expense 13 Interest Expense (b) 257 257 (c) 50 50
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