Question: Current Attempt in Progress A partial tabular summary for Swifty Corporation on July 31, 2022, includes the following accounts before adjustments have been prepared. Assets
Current Attempt in Progress A partial tabular summary for Swifty Corporation on July 31, 2022, includes the following accounts before adjustments have been prepared. Assets = Liabilities + Stockholders' Equity Invest. Notes Rec. Prepd. Acc. Depr.- Retained Earnings Unearned Com. + Supplies + Rent + Bldgs. Bldgs. = Serv. Rev. + Stock + Rev. - Exp. Div Bal. 16,400 19,680 2,952 205,000 -114,800 9,430 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 6% per year. 2. Supplies on hand at the end of the month totaled $15,252. 3. The balance in Prepaid Rent represents 4 months of rent costs. Three months of rent remain unexpired at the end of July. 4. Employees were owed $2,542 related to unpaid salaries and wages. 5. Depreciation on buildings is $4,920 per year. 6. During the month, the company satisfied obligations worth $3,854 related to the Unearned Service Revenue. 7. Unpaid maintenance and repairs costs were $1,886. Bal. 1. 2. 3. 4. 5. 6. 7. Notes Rec. 16,400 + Int. Rec. 82 Assets Supplies 19,680 + Prepd. Rent 2,952 + Bldgs. 205,000 Acc. Depr.- Bldgs. Liabilities Unearned Accts. Pay + Serv. Rev. -114,800 9,430 + Com. + Sal. & Wages Pay. + Stock + Rev. Stockholders' Equity Retained Earnings Exp. 82 Stockholders' Equity Retained Earnings Exp. Rev. 82 Div > >
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