ALPINE EXPEDITIONS Unadjusted Trial Balance December 31, 2009 Cash. Accounts receivable Unexpired insurance Prepaid advertising Cimbing...

 

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ALPINE EXPEDITIONS Unadjusted Trial Balance December 31, 2009 Cash. Accounts receivable Unexpired insurance Prepaid advertising Cimbing supplies Climbing equipment Accumulated depreciation: climbing equipmént Accounts payable Notes payable. Interest payable Income taxes payable Unearned client revenue $ 13,900 78,000 18,000 ...... 2,200 4,900 57,600 $ 38,400 1.250 10,000 150 1.200 -9.600 17,000 62.400 Capital stock Retained earnings Client revenue earned. Advertising expense Insurance expense Rent expense Climbing supplies expense Repairs expense Depreciation expense: climbing equipment. Salaries expense. 188,000 7,400 33,000 16,500 8,400 4,800 13,200 57,200 150 Interest expense 12,750 Income taxes expense. $328,000 $328.000 Other Data 2. Records show that $6,600 of cash receipts originally recorded as uncaried client revenue had been earned as of December 31. 1. Accrued but unrecorded fees earned as of December 31 amount to $6,400, 3. The company purchased a 12-month insurance policy on June 1, 2009, for $36,000. 4. On December 1, 2009, the company paid $2,200 for numerous advertiserments in several climbing magazines. Half of these advertisements have appeared in print as of December 31. S. Climbing supplies on hand at December 31 amount to $2.000. 0. All climbing equipment was purchased when the business first formed. The estimated life of the equipment at that time was.four years (or 48 months). . On Octob 1, 2009, the company borrowed $10,000 by signing an eight month, 9 percent hote payable. The entire note, plus eight months' accrued interest, is due on June 1, 2010 * Accrued but unrecorded salaries at December 31 amount to $3,100 * Eatimated income taxes expense for the entire year totals $14,000 Tases are due in the lirst quarter of 2010. r cách of the numbered paragraphs, prepare the necessary atljasting entry (inclating an explanation). Instructions b. Determine that amount at which each of the following accounts will be reported in the com- pany's balance sheet dated December 31. 200 1. Cash 10. Interest Payable 11. lacome Taxes Payable 12. Uncaied Client Revenue 6. Chmbing Equipment 2. Accounts Reçeivable 7. Accumulated Depreciation 3. Unexpirad Insurance 4. Prepaid Advertising 5. Climbing Supplies Climbing Equipment 8. Salaties Payable 9. Notes Payable C Which of the accounts listed in part b represent deferred expenses Explain. ALPINE EXPEDITIONS Unadjusted Trial Balance December 31, 2009 Cash. Accounts receivable Unexpired insurance Prepaid advertising Cimbing supplies Climbing equipment Accumulated depreciation: climbing equipmént Accounts payable Notes payable. Interest payable Income taxes payable Unearned client revenue $ 13,900 78,000 18,000 ...... 2,200 4,900 57,600 $ 38,400 1.250 10,000 150 1.200 -9.600 17,000 62.400 Capital stock Retained earnings Client revenue earned. Advertising expense Insurance expense Rent expense Climbing supplies expense Repairs expense Depreciation expense: climbing equipment. Salaries expense. 188,000 7,400 33,000 16,500 8,400 4,800 13,200 57,200 150 Interest expense 12,750 Income taxes expense. $328,000 $328.000 Other Data 2. Records show that $6,600 of cash receipts originally recorded as uncaried client revenue had been earned as of December 31. 1. Accrued but unrecorded fees earned as of December 31 amount to $6,400, 3. The company purchased a 12-month insurance policy on June 1, 2009, for $36,000. 4. On December 1, 2009, the company paid $2,200 for numerous advertiserments in several climbing magazines. Half of these advertisements have appeared in print as of December 31. S. Climbing supplies on hand at December 31 amount to $2.000. 0. All climbing equipment was purchased when the business first formed. The estimated life of the equipment at that time was.four years (or 48 months). . On Octob 1, 2009, the company borrowed $10,000 by signing an eight month, 9 percent hote payable. The entire note, plus eight months' accrued interest, is due on June 1, 2010 * Accrued but unrecorded salaries at December 31 amount to $3,100 * Eatimated income taxes expense for the entire year totals $14,000 Tases are due in the lirst quarter of 2010. r cách of the numbered paragraphs, prepare the necessary atljasting entry (inclating an explanation). Instructions b. Determine that amount at which each of the following accounts will be reported in the com- pany's balance sheet dated December 31. 200 1. Cash 10. Interest Payable 11. lacome Taxes Payable 12. Uncaied Client Revenue 6. Chmbing Equipment 2. Accounts Reçeivable 7. Accumulated Depreciation 3. Unexpirad Insurance 4. Prepaid Advertising 5. Climbing Supplies Climbing Equipment 8. Salaties Payable 9. Notes Payable C Which of the accounts listed in part b represent deferred expenses Explain.

Answer rating: 100% (QA)

Date Details Debit Credit 1 Dec 31 Accounts receivable Fees earned 6400 6400 2 Dec 31 Unearned Clien... View the full answer